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The next phase of Making Tax Digital is coming. In April 2026, Making Tax Digital for Income Tax (MTD for IT) will be introduced, and its set to shake up the record keeping, reporting and tax requirements for self-employed people and landlords. MTD for IT filing will be available in all Xero business plans.)
With another tax year almost wrapped up, are you ready to tackle year-end payroll? Finalising your 2024/2025 tax year Wrap up outstanding items Before processing your last pay run for the 2024/25 tax year, approve any outstanding leave requests, timesheets and overtime to ensure your employees’ final pay is accurate.
The OZ program allows investors to defer their capital gains from sales of appreciated real estate, stocks, businesses, personal residences, collectibles and even crypto through 2026.
Wolters Kluwer CEO Nancy McKinstry said she will retire in 2026. Wolters Kluwer intends for Stacey Caywood, current CEO of Wolters Kluwer Health, to be the new CEO next year.
HMRC has announced that Making Tax Digital (MTD) for Income Tax Self Assessment (ITSA) has been delayed until April 2026. This can only be a good thing, because regardless of this delay, it remains a vital part of the Government’s journey to digitise the tax process. Why has this happened? The new MTD for ITSA timeline.
(UPDATE) Microsoft has announced new customer sales of Microsoft Dynamics GP will end April 2026. They can continue to purchase new licenses and modules beyond 2026. "We They can continue to purchase new licenses and modules beyond 2026. Starting April 1, 2026 new customer sales of Dynamics GP end.
Singapore to Raise Retirement Age to 64 by 2026 In a move towards fostering inclusive and progressive workplaces, Singapore’s retirement age is set to rise to 64 years old in 2026, announced by Minister of Manpower Tan See Leng during the Committee of Supply debate in Parliament.
The date has been extend from September 2029 to the end of 2029 so users can meet their 2029 year-end payroll and tax obligations. Be ready for 2029 end of product enhancements, regulatory (tax) updates, service packs and technical support. Microsoft has announced new customer sales of Microsoft Dynamics GP will end April 2026.
Corporate Tax Relief and Cash Grant Good news for your bottom line – you’ll receive a 50% corporate income tax rebate for YA 2025. The government will now co-fund 40% of wage increases in 2025 (up from 30%) and 20% in 2026 (up from 15%) for lower-wage workers. Tired of surprise fees from accounting services?
However, the implementation for renewal cases will be delayed, with the new thresholds taking effect on January 1, 2026. Impact on Renewal Applications It’s essential to note that these revised qualifying salary levels will also apply to EP renewal applications. Experience a smarter way to outsource your accounting with confidence.
Knowing these rules matters if you want to ensure tax compliance, accurate financial reporting, and legal validity. Tax systems vary worldwide. Some of those contextual policies include Value Added Tax (VAT), Goods and Services Tax (GST), and sales tax.
If you’re a small business owner who has provided paid FMLA leave to an employee, you may have heard about this credit. It can be a great way to earn back some of the wages you paid your employee while they were gone.
Increase in CPF Ordinary Wage Ceiling (a) The CPF Ordinary Wage (OW) ceiling, which determines the amount of wages subject to CPF contributions, is set to increase from $6,000 to $8,000 by 2026. Let the pro team at Counto take care of your incorporation, accounting and taxes. Time is money.
Maintaining accurate and organised records is crucial to ensure compliance with tax obligations, manage finances effectively, and provide transparency in your company’s financial affairs. Refer to this Record Keeping Checklist for a list of the different types of records required. How Long Should Company Records Be Kept For?
Expansion of Wage Ceiling: Additionally, the gross monthly wage ceiling for PWCS co-funding will be raised from S$2,500 to S$3,000 in qualifying years 2025 and 2026. Experience a smarter way to outsource your accounting with confidence.
billion by 2026. Counto’s tax experts are backed by in-house proprietary AI tax software, which has achieved IRAS ASR+ Tier 3 qualification , the highest possible accreditation in Singapore. According to Statista, the dropshipping e-commerce market is projected to reach a value of US$476.1 Did you know? Happy dropshipping!
By April 2026, the total paid parental leave will rise from 20 weeks to 30 weeks, with the additional 10 weeks being government-paid shared parental leave (SPL). Our expert accountants deliver comprehensive services—from bookkeeping to tax filing—at transparent rates. At Counto, we prioritise your bottom line.
This advanced software offers a comprehensive range of features, including payroll management, report generation, expense tracking, and even tools for auditing and tax preparation support. Investing in the best accounting software for CPAs and accounting firms designed to facilitate the operations of accounting business is a prudent decision.
This could explain the high growth of the accounting software industry, estimated to reach $12 billion by 2026. Difficulty in compliance It can be hard to keep up with regulatory requirements and tax laws if you rely on manual accounting methods. They also assist in calculating deductions, providing a clear view of tax obligations.
and applying them in the practice Calculate and make accurate deductions for employees and file details to the government on time Create an income tax return and file it as per the deadline And many more There is a lot of hassle to manage all accounting jobs and it needs real experience and expertise. Billion US Dollars by 2026.
Show Notes KPMG Moves into Small Business Tax and Accounting Services with Spark — Accounting Today — Big 4 accounting and business consulting firm KPMG LLP, is making a play for the small business tax and accounting services market with the launch of a new online system called KPMG Spark. His mission? Preparing America for automation.
The referendum means the project is stalled until 2026(!). year in tax revenue Thousands of homes One of Arizona's biggest companies This is because some people worry that the character of the community will change for the worse because of the addition of apartments. Classic NIMBY arguments. So we might lose: 5,500 new jobs $11.5M/year
Under Singapore’s tax laws, businesses can claim a tax deduction of up to 2.5 Here’s how you can ensure compliance with tax regulations and maximise your charitable giving: 1. ” This helps keep your donations separate from other business expenses, making it easier to track and report them during tax season.
Updates to CPF Wage Ceiling (2025) Date OW Ceiling Before Sep 2023 $6,000 1 Sep 2023 $6,300 1 Jan 2024 $6,800 1 Jan 2025 $7,400 1 Jan 2026 $8,000 These increases mean that payroll systems must automatically account for CPF ceiling changes to ensure compliance. From calculations to tax deposits, our in-house team handles everything.
You'll also discover why the $400 million PCAOB budget might be on the chopping block, how AI research tools like Perplexity Deep Research are revolutionizing tax research, and get the latest update on the ever-shifting BOI reporting deadlines.
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