ASIC accused of “sledgehammer” approach to Director ID compliance
The corporate regulator is taking a stern approach to company directors yet to sign up for a Director Identification Number, a senior lawyer says, as industry leaders question if the mandatory scheme is still fit for purpose.
Late tax charges, skill programs cut: Six small business updates from MYEFO
The federal government has rustled up $9.8 billion in savings since the May budget through a combination of spending cuts and reprioritisations, including measures focused on the business sector.
Scrapped: Business registry modernisation scheme halted after projected $2.3 billion blowout
It was meant to slash costs and complexity for Australian businesses. Instead, the federal government has scrapped the Modernising Business Registers program, owing to billion-dollar blowouts, crushing delays, and a significant underestimation of the task at hand.
Budget 2022: ATO resources beefed up to tackle shadow economy and tax avoidance
The ATO will see funding for its Tax Avoidance Taskforce increased by approximately $200 million per year over four years, effective July 1, 2022.
