If the business is no longer profitable, and is unlikely to be profitable in the future, your best option may be to close your business.

Check out the this visualization, which tracks the evolution of dietary calorie intake from 1930 to 2026.

Following an application for a refund of nearly $94,000, the Administrative Review Tribunal has set aside an application for the remission of a 50 per cent penalty assessment. 

One insolvency specialist has emphasised the importance of small businesses engaging their accountants to stay on top of their tax debts in light of increased ATO scrutiny of the SME market.

Compliance with new anti-money laundering (AML) laws may subject your small business to additional privacy obligations it did not face before.

Picking up a second job, holding multiple part-time roles, or doing gig work is now part of everyday life. But the way tax is withheld across multiple payers can lead to a surprise when you lodge your tax return. 

Rising operating costs and persistent inflation are placing renewed pressure on businesses worldwide, despite signs that confidence is beginning to recover. 

The ATO has a clear message this year: slow down and get it right. Early lodgers are far more likely to make mistakes.

One expert has stressed the importance of tax agents reminding their clients that the ATO is no longer as lenient on tax debt collection as it was during the COVID-19 pandemic.

  From 1 July 2026, new national laws known as Tranche 2 of the Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) reforms will bring accountants and