The Little CFO®

Tax advisors should be mindful of #OperationProtego, which is an ATO-led investigation into large-scale #GSTfraud that was promoted particularly on social media. The attempted fraud involves an individual: 🔺 inventing a fake business; 🔺 lodging a fraudulent Australian business number (ABN) application; and 🔺 submitting fictitious business activity statements (BAS) to attempt to gain a false GST refund. A recent ATO media release details the latest in sentencing for Operation Protego: 🔶 16 October 2024: - A woman has been sentenced to 4 years jail with a non-parole period of 2 years and 4 months, and was ordered to repay $599,349. 🔶 Charges: - one count of obtaining a financial advantage by deception - one count of attempting to obtain a financial advantage by deception. 🔶 Details of the fraudulent GST refund: - The woman registered for both an ABN and for GST in November 2021 for a residential cleaning business. Between November 2021 and March 2022, she lodged fraudulent BAS. - The woman obtained $599,349 in fraudulent GST refunds she was not entitled to and attempted to obtain a further $259,976, which was stopped by ATO officers. For the latest news and further sentences handed down as a result of Operation Protego, see: https://lnkd.in/e3qR52SA ------- Always seek advice specific to your circumstances directly from your appointed professional advisor. #Tax #TaxLawyer #AustralianTax

The #CommissionerofTaxation, Rob Heferen's address at The Tax Institute's National GST Conference. Australian Taxation Office #TaxAdvisors #GST #AustralianTax #ATOinsights #TaxPractitioners #Accountants #TaxLawyers

#TaxChats It was great catching up with leaders of Brisbane's business advisory firms over a delicious banquet lunch at the Tattersall's Club. Thank you all for joining us for the October instalment of our tax networking lunch. ℹ️The Little CFO Legal® proudly holds this tax networking series in collaboration with The Little CFO®, SV Partners, and Tax Assure. --- --- --- --- --- --- --- --- 🔸Interested in attending future events with us? 🔸 If you are a leader of a professional advisory firm in the legal, accounting or financial industry, we invite you to sign up for future event updates: https://lnkd.in/gZ4ziQDe 🔸 About our tax networking series 🔸 Our guests create new connections and gain insights into the best approach when assisting clients with ATO tax debts, audit/reviews, DPNs, & tax disputes. This series provides accounting and financial advisors with the opportunity to gain insights on topical tax matters concerning their clients, with the benefit of hosts' expertise, including: 🔷 The Little CFO Legal® - Expert advice & representation for ATO tax disputes; 🔷The Little CFO® - CFO advisory services; 🔷Tax Assure - Specialist tax debt services for undisputed tax debts; 🔷SV Partners - Advice for businesses & individuals facing financial distress & insolvency. --- --- --- --- --- --- --- --- #AccountingIndustry #Accountants #Finance #ATODebt #ATOAudit #ATOReview #ATODispute #TaxDisputes Adam Thorpe David Stimpson Michael Moon Ken Freer Mike Gavriel Chardave Lee Nola Luyten FIPA Eagle Tax & Accounting Cheryl Stainsby MAICD Your Director's Advocate Jane Purnell Holzworth Partners Sharon Coleman Welsh Tax Vincent Berry Sajen Legal Melanie Barton ABL Corp

#CharityCreation #Webinar I look forward to presenting in this morning's live session hosted by the Institute of Public Accountants! ✅ Registrations are open - full details here: https://lnkd.in/ghMawgd7 ✅ The CPD session's recording is available for 12 months. #Accountants #CPD #Charities The Little CFO Legal® Lauren Mangan Marissa Kyriacou Adam Thorpe

👏 The biggest #BrewersLunch so far! Congratulations to Julian Barclay and the team at The Brewers Lunch - networking events for another successful event with 220+ attendees and a 30+ waitlist! We are thrilled to sponsor these exceptional events, which provide a great networking opportunity and have a significant philanthropic impact. Over the past two years, the Brewers Lunch has raised and donated nearly $400,000 to support worthy causes.    💰Congratulations to the charity partner for this event, MS Queensland!   Thank you to our guests for joining us at Felons Brewing Co's Barrel Hall, and well done to fellow sponsors who contributed to making this another fantastic afternoon! We are proud to be part of such a meaningful initiative and look forward to continuing our support for future events. If you have yet to get along to one of the Brewers lunches, we highly recommend you do so! --- TICKETS & UPDATES --- 🔸 The Brewers Lunches are held quarterly and are one of Australia’s leading #ProfessionalNetworking events. 🔸 We highly recommend that all business leaders attend. 🔸 Details and tickets are available at www.brewerslunch.com.au for upcoming #Sydney, #Melbourne, #Brisbane and #GoldCoast events. ————————- 📸 Professional photos courtesy of: Sarah Paget The Little CFO Legal®  SV Partners Adam Thorpe The Little CFO® Jason Popelier Thursday Legal Justin Byrne Nicole Murdoch EAGLEGATE  Miranda Murray Billy Fitzgerald Rose Litigation Lawyers Terry Kirkham Global Business Auctioneers & Valuers Pty Ltd Cheryl Stainsby MAICD Jessica Stainsby Your Director's Advocate Dayan Abeyegunawardene ScotPac Business Finance AMS Digital Peter Austin Rodney Peters Eventum Optimum Michelle McKenzie James Johnson CloudTech Zeke Bentley Angus Murray Maureen Gabriel David Curd Sarah Isted MFIA Shelley McGinty Jimmy Croul Isaac McSwan   ------------------------ #CharityLunch #NetworkingEvents   #CharityLawyers  #Taxlawyers #ATODisputes #ATOAudits

Thank you all for joining us for the July instalment of our tax networking lunch. It was great catching up with leaders of Brisbane's business advisory firms over a delicious banquet lunch at the Tattersall's Club. ℹ️The Little CFO Legal® proudly holds this tax networking series in collaboration with The Little CFO®, SV Partners, and Tax Assure. --- --- --- --- --- --- --- --- 🔸Interested in attending future events with us? 🔸 If you are a leader of a professional advisory firm in the legal, accounting or financial industry, we invite you to sign up for future event updates: https://lnkd.in/gZ4ziQDe 🔸 About our tax networking series 🔸 Our guests create new connections and gain insights into the best approach when assisting clients with ATO tax debts, audit/reviews, DPNs, & tax disputes. This series provides accounting and financial advisors with the opportunity to gain insights on topical tax matters concerning their clients, with the benefit of hosts' expertise, including: 🔷 The Little CFO Legal® - Expert advice & representation for ATO tax disputes; 🔷The Little CFO® - CFO advisory services; 🔷Tax Assure - Specialist tax debt services for undisputed tax debts; 🔷 SV Partners - Advice for businesses & individuals facing financial distress & insolvency. --- --- --- --- --- --- --- --- #AccountingIndustry #Accountants #Finance #ATODebt #ATOAudit #ATOReview #ATODispute #TaxDisputes Adam Thorpe David Stimpson Michael Moon Ken Freer Abdul Chambal Mike Gavriel Chardave Lee Kim Andrews Jodie Jordan Nova Cash Flow Finance James Webb Dewan Brookes Link Advisors Nicole Murdoch EAGLEGATE Edward Chin Quartz Corporation Sharon An MYG Legal Jason Moore JLM Brokerage Scott Unicomb Viking Aggregation Kyle Knott In Front Australian Business Solutions Matthew Bashford CloudTec Accountants

⚠ Reminder for all tax agents: Staying on top of your ATO debts and lodgements is crucial. If you fall behind, act quickly and seek advice immediately. In this recent case: 🔸 The obligations in the Code* considered by the AAT included to have one’s own tax obligations in order.^ The AAT also considered that a tax agent’s conduct of his, her or its own taxation affairs is also contextually relevant to fitness and propriety requirements. 🔸 The AAT found that the tax agent had failed to comply with taxation laws in the conduct of his personal affairs, including entities for which the tax agent is ultimately responsible: "It is fair to say that the outstanding obligations were numerous, wide ranging and at least for a tax agent, if not for an ordinary taxpayer, serious." [Para 27] 🔸 The AAT ultimately decided to terminate the registration of the tax agent and the associated company of which the tax agent was the director. ----- Always seek advice specific to your circumstances directly from your appointed professional advisor.⁠ ⁠ -----⁠ ⁠ Facing an ATO review, audit or dispute?⁠ ⁠ For effective ATO engagement, getting #legal advice and establishing a strategy as early as possible is crucial.⁠ ⁠ We work collaboratively alongside accountants, lawyers, and advisors.⁠ ⁠ 🔸 Ask how we can help: 📧 [email protected].⁠ ⁠ #TaxLawyers #TaxDisputes #ATOreview #ATOaudit⁠ ⁠ ----- Source: Case: GSXZ and Tax Practitioners Board [2024] AATA 1303 (30 May 2024) *Code: Section 30-5 of the Tax Agent Services Act 2009 (Cth) sets out the Code of Professional Conduct. ^Subsection 30 - 10(2) of the Code requires tax agents ‘to comply with taxation laws in the conduct of your personal affairs’.

👏 Congratulations to Julian Barclay and the team at The Brewers Lunch - networking events for another successful event at the most recent Gold Coast instalment!

We are thrilled to sponsor these exceptional events, which provide a great networking opportunity and have a significant philanthropic impact.

Over the past two years, the Brewers Lunch has raised and donated nearly $400,000 to support worthy causes. 💰Congratulations to charity partner for this event Act for Kids. Thank you to our guests for joining us, and well done to fellow sponsors who contributed to making this another fantastic afternoon!

We are proud to be part of such a meaningful initiative and look forward to continuing our support for future events.
 If you have yet to get along to one of the Brewers lunches, we highly recommend you do so!

--- TICKETS & UPDATES ---

The Brewers Lunches are held quarterly and are one of Australia’s leading #ProfessionalNetworking events.

We highly recommend all business leaders attend.

Details and tickets are available at www.brewerslunch.com.au for upcoming #Sydney, #Melbourne, #Brisbane and #GoldCoast events. 
————————- 📸 Professional photos courtesy of: Sarah Paget 
The Little CFO Legal® SV Partners Adam Thorpe The Little CFO® Jason Popelier Thursday Legal The Ray White Surfers Paradise Group Optus Business Centre Gold Coast Kane Sajdak AMS Digital Peter Austin Aweso Insurance Pty Ltd Grant Mason Naked Accounting Michael Jeffriess Rodney Peters Michelle McKenzie Ben Gill Tamara Djordjevic WeThink Business Amanda Pulford Collette Dunn Oasis Dental Studio Aussie Automotive Group (AAG) Emma Doolan The Crafty Pint Christopher Lowe Miranda Murray Rose Litigation Lawyers James Livingston Bruno Masquelin ------------------------

#CharityLunch
#NetworkingEvents  
#CharityLawyers  #Taxlawyers

#UPDATE #ASICREGISTERS Effective 23 May 2024, responsibility for the ASIC business registers and related services returned from the ATO to ASIC under a Machinery of Government (MoG) change: 🔸The ATO will continue to operate the Australian Business Register #ABR and #directorID register. 🔸ASIC remains responsible for enforcing director ID offences. ℹ️Impact: 🔹There are no changes to current registry services for ASIC stakeholders. The MoG change in responsibility was an administrative change. 🔹The way people register, search, get extracts of the registers, and interact with ASIC - all remains the same. ℹ️ Background: 🔸On 13 December 2023, the government announced that responsibility for the ASIC business registers and related services would return from the ATO to ASIC. 🔸The announcement followed the government’s decision on 28 August 2023 to stop the Modernising Business Registers (MBR) program, based on the independent review of the program completed by Damon Rees. 🔸Following the review's findings, ASIC is now considering options to stabilise and uplift the existing business registers as part of the ASIC RegistryConnect program. 🔸RegistryConnect aims to stabilise the ASIC business registers and deliver targeted uplift to provide a reliable, secure, and trusted registry platform that supports economic growth. As a part of preparing for this change, ASIC has established an external advisory body, the Registry Business Advisory Group. —————- Source: ASIC MEDIA RELEASE, 23 May 2024, ASIC business registers, <https://lnkd.in/gCcsqg74>

Congratulations LYD_Docs, presenters & fellow sponsors for a great conference this week with fantastic speakers, content, and conversations! Mark Bouris AM Emil Juresic Simon Beard Michael Jeffriess Grant Abbott Rodney Peters Adam Thorpe Ben Gill Byron Raal, CA Michelle McKenzie The Little CFO Legal® The Little CFO® SV Partners Mike Gavriel Eventum Optimum Lending Association Dallas Webcke Tish Millard Paul Talkington Karan (Josh) Joshi Stephen Wilson Jenni Ritson Taryn Holman Amanda Gascoigne FCA GAICD Chris Wheatley FCA Ross Morello Ashley Cronin James Livingston Tamara Djordjevic Sage G. Shaneel Bergola Reuben Bergola Sandeep Bhatt Nadia Fonoff James Johnson Naked Accounting Digital Rapport BGL Corporate Solutions #Accountants #Lawyers #ProfessionalsConference #BusinessGrowth