Business Archives - AusDailyNews

ASIC has warned Australian superannuation members about platform fund risks, advice fee issues, and weaknesses in trustee monitoring after a major review.

ASIC Superannuation Report Warns of Platform Risks to Retirement Savings

Ruble GoyalJune 29, 2026111 mins

The Australian Securities and Investments Commission (ASIC) has issued a warning about risks in Australian platform super funds, highlighting concerns over trustee oversight, advice fees, and protections for retirement savings. In a comprehensive 29-page report titled “Safeguarding super: How well are platform trustees monitoring risks to retirement savings,” the corporate watchdog asserts that superannuation trustees are failing…

How will petrol prices change in July 2026? Australia's fuel excise discount has been extended, with motorists receiving a 16-cent-per-litre rebate.

Fuel Excise Discount Extended in Australia: How Petrol Prices Will Change in July 2026

Ruble GoyalJune 20, 2026010 mins

The federal government has announced a one-month extension to the fuel excise rebate, providing a critical buffer for Australian motorists and businesses as they navigate ongoing cost-of-living pressures. While the relief measure is being extended, the discount will be significantly reduced compared to the previous three months, acting as a transition period before the subsidies are…

Australian Tax AI Platform SavvyWise Secures $1.56 Million From Investors

Ruble GoyalJune 19, 202609 mins

Australian tax AI startup SavvyWise has raised $1.56 million through an equity crowdfunding campaign as demand grows for artificial intelligence tools designed specifically for accountants navigating complex tax compliance requirements. Unlike generic large language models, SavvyWise is focusing on the development of ring-fenced AI models specifically trained on verified Australian tax law to eliminate the…

SkyCity Adelaide faces a $21 million penalty following anti-money laundering breaches and governance failures. Discover the findings of the Brian Martin Review.

SkyCity Adelaide Fined $21 Million Over Compliance and Anti-Money Laundering Failures

Ruble GoyalJune 19, 2026110 mins

SkyCity Adelaide has agreed to pay a $21 million fine to the South Australian gambling regulator. The penalty, which Premier Peter Malinauskas suggests may be one of the largest financial sanctions in the state’s history, follows a series of severe breaches regarding anti-money laundering (AML) obligations and harm minimisation standards. The settlement, reached between the Liquor…

The Albanese government announced new capital gains tax concessions, raising the small business CGT threshold to $10 million and introducing startup carve-outs.

Albanese Government Announces Capital Gains Tax Concessions for Small Businesses and Startups

Ruble GoyalJune 18, 2026June 18, 2026212 mins

The Albanese government has announced major changes to its proposed capital gains tax reforms, introducing new concessions for small businesses and startups after weeks of industry criticism. Prime Minister Anthony Albanese and Treasurer Jim Chalmers announced the measures on Thursday, aimed at mitigating a fierce industry backlash against a proposed transition from the traditional 50…