Tue Dec 10 2024
Segregating duties is a straightforward yet powerful tool for protecting your business from fraud. By dividing responsibilities, you can not only reduce risk but also build a more trustworthy, accountable environment for everyone. Investing in SOD safeguards your assets, your reputation, and, ultimately, your peace of mind.
The Australian Taxation Office (ATO) is increasing its cross-referencing of data from public records, financial institutions, and government agencies, to identify inconsistencies in business reporting. We are seeing more frequent inquiries regarding discrepancies, with financial consequences for businesses that aren’t fully prepared to explain any variances.
This quarter's Pilot Directions Newsletter includes a range of useful information and insights for businesses.
Mon Dec 09 2024
The ATO’s renewed focus on foreign trusts, combined with their data matching systems, should serve as a reminder for beneficiaries and their advisors to consider the application of the foreign trust rules to their situation.
Thu Nov 28 2024
Property development can be complex, particularly when there are multiple unrelated investors involved. Pilot Partners have decades of experience working with construction and property development clients, providing expert accounting, structuring and tax advice tailored for the specific needs of this sector.
Fri Nov 22 2024
There is ongoing debate about whether an SMSF should have individual or corporate trustees. The primary concern often revolves around the additional costs involved in establishing and maintaining a corporate trustee.
Tue Nov 19 2024
If you suspect unethical financial transactions or fraudulent behaviour within your business, prompt and cautious action is crucial.
Mon Nov 18 2024
To avoid costly payroll mistakes, it’s essential to understand and apply Award legislation correctly. Awards set minimum pay rates and conditions, including allowances, penalty rates, and loadings. Their complexity can lead to errors, and even small mistakes in interpreting these rules can add up. To protect your business, ensure accurate interpretation and application of these complex regulations.
Pilot is committed to strengthening fraud prevention and is a proud supporter of International Fraud Awareness Week.
Wed Oct 23 2024
A Quantity Surveyor report can significantly reduce tax liabilities for doctors and medical practices by identifying eligible assets for depreciation.
Self-Managed Super Fund (SMSF) valuations have been on the radar of the Australian Tax Office (ATO) and auditors in recent years.
Mon Oct 21 2024
October is Cybersecurity Awareness Month, and as the month comes to a close, we’re bringing you critical insights from industry experts to help fortify your business’s defences against escalating cyber threats.
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