South Yarra accountant pleads guilty to ASIC charges South Yarra accountant Mark Ronald Letten, the former director of LGH Holdings Ltd (in liquidation) and the principal of the accounting firm Lettens Pty Ltd, formerly The Letten Group, has pleaded guilty to 27 criminal charges, including charges of operating 21 unregistered managed investment schemes and of […]
Government announces further changes to FOFA
Government announces further changes to FOFA The government has stated that, although it supports the principles of the Future of Financial Advice (FOFA) reforms, the previous government “went too far, creating unnecessary complexity, imposing significant burdens on the industry and reducing the availability and increasing the cost of advice to consumers.” Consequently, it has announced […]
ASIC investigates Padbury’s botched $6b Oakajee deal
The Australian Securities and Investments Commission has launched civil proceedings against resources minnow Padbury Mining and its chief executive Gary Stokes over a botched $6 billion financing deal for the Oakajee port and rail project in Western Australia. In April last year Padbury, with a market capitalisation of just $70 million, told investors it had found an […]
How to Register a New Business
How to Register a New Business When setting up a new business it will need to be registered. In order to get the Australian business number to allow you to trade, you can go online to the Australian Business register and find out what you will have to do. This is also the process if […]
Director penalty regime – guide for directors
Director penalty regime – guide for directors Under the pay as you go (PAYG) withholding system, the Income Tax Assessment Act 1997 (ITAA) requires companies to withhold money from wages to meet employees’ tax liabilities to the Australian Taxation Office (ATO). Companies are also required to pay a superannuation guarantee charge (SGC) under the Superannuation […]
