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Government shirks big 4, senator calls for government consulting revamp
Senator Barbara Pocock has called for reforms to government consulting engagements as the Department of Finance continues to review PwC's government contracts.
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Higher-than-expected inflation figures to delay rate cuts, say economists
An interest rate cut is unlikely to occur until next year now with the consumer price inflation data for March above market expectations.
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ATO issues alert to SMSFs on crypto scams and losses
The Tax Office is seeing instances of funds reporting losses with crypto investments due to scams and collapsed trading platforms.
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AAT upholds ATO decision on self-education expenses
The tribunal has dismissed an appeal relating to self-education expenses claimed as deductions by a dental technician.
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Q1 hiring boom spurs small business recovery: Xero
Latest data shows March recorded the largest rise in jobs since October 2022.
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CGT, negative gearing reform could save $60bn, analysis finds
Modelling for proposals to dial back property tax concessions finds billions could be freed up every year to address the housing crisis.
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‘Take advantage of deductions’ ahead of tax cuts, tax expert advises
Accountants should look for opportunities to bring forward deductions and apply them to this year’s income ahead of the personal tax changes on 1 July, says HLB Mann Ju...
Prospa integration to streamline business finance
Small business lender Prospa has integrated its Prospa Business Account with Xero to reduce administration for SMEs.
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QuickBooks, GoCardless launch integration to alleviate cash flow crisis
Intuit QuickBooks and GoCardless have announced an integration that will assist its quarter of a million SMB customers get paid on time.
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Accountants cautioned on ‘unexpected tax consequences’ with Division 7A loans
The ATO has reminded tax professionals about the critical requirements for correctly managing Division 7A loans for their clients.
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ATO ‘underestimated’ impact of Collins licensing decision: Hirschhorn
The second commissioner told the Inquiry into Consulting he regrets not escalating the PwC matter more rapidly given the dramatic impact the TPB’s decision had.
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Moore Australia announces merger with Coffs Harbour practice
National accounting network Moore Australia will merge with Coast2Plateau Accounting Business & Taxation as part of strategic growth plans.
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Insolvency has a gender problem, says Jirsch’s first female trustee
Emma Mos of Jirsch Sutherland says the insolvency world is still so male-dominated because of ingrained stereotypes and high barriers to entry.
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CPA Australia axed 121 staff, services for internal revamp: report
The body’s latest integrated report shows it cut nearly one-fifth of its workforce in 2023, double what was originally planned, eroding staff and member satisfaction.
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Business confidence lifts among smaller firms, survey reveals
Confidence about future success has risen among smaller firms but declined among medium and larger middle market businesses, according to a Pitcher Partners survey.
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ATO takes ‘stringent’ stance on GIC remissions as part of debt clampdown
Tax agents have been told to readjust their expectations around payment plans and penalty remissions as the ATO toughens its approach to tax debts.
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Intuit QuickBooks partners with Australian Accounting Awards
The online accounting software provider has joined this year’s awards as its principal partner.
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ATO updates client-agent linking system to prevent ‘inadvertent errors’
Accounting associations have welcomed the changes but stress that much more must be done to address key issues in the system.
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Company failures on track to reach 12-year high: ASIC
Over 10,000 businesses are expected to enter external administration by the financial year's end, the regulator predicts.
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BGL readies for the ‘great wealth transfer’ with HeirWealth
The integration will automate valuation processing, enabling “better intergenerational conversations about money”, the firms say.
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