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Understanding Tax Risks
+ Checklist for avoiding Director Penalty Notices
Maziar Foroudian
March 05, 2024
Latest Stories
Attention SME owners: Unpaid taxes could have personal consequences! This deep dive into Australia’s Director Penalty Notices reveals the risks, responsibilities, and potential liabilities company directors face, with practical tips to avoid penalties.
Personal insolvencies tied to businesses are climbing and directors are reeling from the pressure of personal guarantees. Discover expert insights and potential solutions in the wake of this rising trend from insolvency specialist Jirsch Sutherland.
As data breaches soar, the trust between businesses and consumers wanes. How can Australia's retail industry navigate privacy pitfalls and build trust through data transparency? Delve into key strategies to ensure business growth and customer loyalty.
Top Tools
Top stories
Procrastinating on filing your tax returns could cost you extra this year, with interest on unpaid taxes now at 8%. New provisions are changing eligibility rules for EV tax credits and the SALT deduction. Stay informed.
During economic downturns, firms tend to increase inventory levels to prevent future disruptions. However, recent reports show a decrease in stock levels among retailers like Myer and JB Hi-Fi, which may impact GDP growth figures. This decline may signal stronger government spending and better-than-expected trade outcomes.
Australia
Hybrid working can be a double-edged sword as businesses returning to the office risk sidelining their most effective staff. Data shows a decline in workplace inclusion, with workers reporting discrimination and harassment, highlighting the importance of diversity and inclusion efforts for a positive and productive work environment.
Transforming the traditional 'sickie' into a 'healthie', FutureBrand encourages employees to prioritize well-being with a day off every quarter. This proactive approach not only boosts employee performance but also strengthens the company's overall growth.
A shift towards a four-day workweek is gaining momentum globally. Companies in various sectors are participating in trials, demonstrating positive impacts on employee wellbeing and productivity. Embracing this change reflects a modern, results-oriented workplace culture.
Australian Economy
As demands for flexible work arrangements rise, the four-day work week gains popularity. Employees now prioritize work-life balance, and employers see benefits from healthier, rested workers. Time saved by technology may lead to reduced working hours.
Meet the influential figures of Meta, Google, and TikTok in Australian tech lobbying. Learn about their backgrounds and connections to government, as they navigate data scandals, political advertising, and the challenges of the News Media Bargaining Code.
This article criticizes the current tax cuts by major parties in Australia for lacking true reform and being irresponsible, potentially leading to deficits and debt. It suggests voting for minor parties for real change.
India
Deloitte South Asia CEO Romal Shetty predicts India will grow at 10% for the next 10-20 years, becoming the third-largest economy by 2027. He emphasizes the investment opportunities in Karnataka, particularly Bengaluru's booming tech sector.
World
Saudi Arabia, OPEC’s leader, extended oil production cuts through June. Done in coordination with allies like Kuwait and the UAE to prevent oversupply amid weak oil prices. Market stability is the goal, gradually returning one million barrels a day as needed.
The Reserve Bank of India has barred IIFL Finance from issuing gold loans due to supervisory concerns. The company can still service existing loans but must rectify violations. A special audit will determine future restrictions.
Tech
Artificial intelligence is a top priority for organizations, but many leaders are uncertain about its impact. Lynda Gratton offers clarity through research and experimentation. Explore the future of AI in the workforce with her interactive webinar.
Microsoft is introducing Copilot AI capabilities to OneDrive in April. The AI chatbot can retrieve information from files stored on OneDrive, generate summaries, and create lists. Initially available in limited languages, more will be added in the future.
Curated for you
In April 2024, content marketers can capitalize on activities and niche holidays to promote products. Examples include REI's blog linking hiking tips to gear, articles for National Welding Month, Car Care Month, National Burrito Day, and National Handmade Day.
In a rapidly evolving business world, traditional risk management approaches fall short against cyber threats, geopolitical complexities, and regulatory uncertainties. A bespoke strategy tailored to individual needs is crucial to navigate the modern risk landscape effectively.
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