Although this will only impact high-end clients, ‘corporate tax entities’ may soon be due to commence paying monthly rather than quarterly PAYG instalments. From 1 January 2016.
A recent email from Xero highlights the issue of data security within the Cloud accounting realm. Some users of Xero software have very recently been caught up in phising scams that have impersonated Xero’s branding. As a result, their accounts have been compromised. To be clear, this is not a breach of Xero security, but of individual user accounts as a result of an email scam.