Audit
Fending Off GST Audits
The Government has welcomed the actions of an ATO-led taskforce in relation to what is termed “the biggest GST fraud in Australia’s history”. The ATO states that the fraud was first detected in early 2022 and involved offenders inventing fake businesses and ABN applications, then submitting fictitious Business Activity Statements in an attempt to gain […]
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New Requirements For General Trust Accounts – Property Agents
New UIN registration requirements Property agents’ responsibilities have changed. Under the Property, Stock and Business Agents Regulation 2014 (NSW), all property agents looking after general trust accounts are required to obtain a Unique Identifying Number. You must provide this UIN to the authorised deposit-taking institution (bank) to open the account. New general trust accounts From 1 […]
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Changes To Trust Accounts Audits
Recent amendments to trust account audits Amendments to the Property, Stock and Business Agents Act 2002, which commenced on 1 July 2013, change the way licensees will fulfill their responsibilities in relation to the auditing of trust accounts. New framework for trust account audits from 1 July 2013 The amendments provide a new framework for how licensees […]
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