An increase in hacker-related crime – targeted at Google Android users – has caused concern, with many hackers now using consumer apps to glean personal information and generate financial gain.

472 per cent of new viruses designed to attack Android gadgets have been detected in the past four months. This is an alarming rate, especially considering that Android accounts for more than half of the worldwide smartphone sales.

Hackers hide malicious code in popular apps that consumers download, programming them to collect sensitive information such as user identity, location or personal messages. Others are programmed to generate revenue by sending premium-rate text messages without the owner’s knowledge.

An increase in hacker-related crime – targeted at Google Android users – has caused concern, with many hackers now using consumer apps to glean personal information and generate financial gain.

472 per cent of new viruses designed to attack Android gadgets have been detected in the past four months. This is an alarming rate, especially considering that Android accounts for more than half of the worldwide smartphone sales.

Hackers hide malicious code in popular apps that consumers download, programming them to collect sensitive information such as user identity, location or personal messages. Others are programmed to generate revenue by sending premium-rate text messages without the owner’s knowledge.

The Australian Taxation Office has released information regarding their annual updates to small business benchmarking, with data from the 2009 financial year.

These include the following:

• The addition of new industries to small business benchmarking – including landscape construction, motor vehicle retail, panel beating and smash repairers, lawn mowing and garden services, tattooing services and pharmacy.
• The addition of total expenses to turnover benchmark ratio – allowing businesses that don’t consistently report expenses for either cost of sales or labour, to measure their performance against others in their industry.
• Merging previously divided industries that no longer require separate benchmarks.
• Revising annual turnover ranges (ie. low, medium and high turnovers) for different industries so that businesses with similar characteristics in the 2009 data are grouped together.

It is recommended that businesses review their small business benchmarks regularly. This information is available from the Australian Taxation Office or via their website.

The Australian Taxation Office has released information regarding their annual updates to small business benchmarking, with data from the 2009 financial year.

These include the following:

• The addition of new industries to small business benchmarking – including landscape construction, motor vehicle retail, panel beating and smash repairers, lawn mowing and garden services, tattooing services and pharmacy.
• The addition of total expenses to turnover benchmark ratio – allowing businesses that don’t consistently report expenses for either cost of sales or labour, to measure their performance against others in their industry.
• Merging previously divided industries that no longer require separate benchmarks.
• Revising annual turnover ranges (ie. low, medium and high turnovers) for different industries so that businesses with similar characteristics in the 2009 data are grouped together.

It is recommended that businesses review their small business benchmarks regularly. This information is available from the Australian Taxation Office or via their website.

Businesses that fail to declare or report all their cash transactions will be exposed this financial year when the ATO commences their crack down on the cash economy.

An estimated 110,000 taxpayers who are suspected of participating in the cash economy will be contacted by mail in efforts to deal with under-reported or omitted income, and cash transactions used to hide or evade tax obligations.

Business taxpayers will be identified through one of the ATO’s cash economy indicators:

• Small business benchmarks
• Data matching
• Allegations of tax evasion by the community

Taxpayers are encouraged to review their records to ensure they have correctly reported all income – especially cash transactions.

Businesses that fail to declare or report all their cash transactions will be exposed this financial year when the ATO commences their crack down on the cash economy.

An estimated 110,000 taxpayers who are suspected of participating in the cash economy will be contacted by mail in efforts to deal with under-reported or omitted income, and cash transactions used to hide or evade tax obligations.

Business taxpayers will be identified through one of the ATO’s cash economy indicators:

• Small business benchmarks
• Data matching
• Allegations of tax evasion by the community

Taxpayers are encouraged to review their records to ensure they have correctly reported all income – especially cash transactions.