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PKF Australia adds 3 principals to its Sydney team, promotes 8 others
PKF Australia has promoted 11 employees across its Sydney and Newcastle teams, including three new Sydney-based audit and assurance principals.
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‘Standout’ local result propels Mazars to double-digit growth
The Australian operation was boosted by a surge in demand for sustainability services and consulting, the firm says.
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BGL plumbs AI into its accounting and SMSF software
Technology similar to that in ChatGPT allows users to generate financial analysis including commentary and trends, the firm says.
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CBA hit with record $10m fine for knowingly underpaying staff
Justice Bromwich of the Federal Court said the penalty amount will serve as a warning to financial companies with inadequate compliance systems.
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ATO taking R&D tax claims more seriously, expert says
A major funding boost for the research and development tax incentive scheme means greater oversight of participating businesses, according to HLB Mann Judd.
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Xero lands preferred supplier agreement with Mazars
The deal “harnesses” the cloud accounting software's offerings with the firm’s sprawling network of advisers in over 100 countries.
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Employer audits to surge, ATO warns
The ATO is clamping down on accounting errors with employment taxes and nudging employers to shift their SG compliance closer to real-time.
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1 in 5 small business owners cut own pay to survive: MYOB
Higher interest rates plus increased prices for fuel and utilities mean revenue is down for 38 per cent of SMEs, the software supplier found.
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ACCC to prioritise complaints from business and consumer groups
New legislation will require the ACCC to respond to ‘systemic or significant’ complaints from designated consumer and business groups.
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Rising unemployment a taste of what is to come, economist says
Unemployment reached a two-year high in January, says the ABS. Economists diverge on whether there is cause for concern.
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Slipstream adds financial services exec to coaching roster
Darren Smith joins the Brisbane-based boutique to help “foster growth” of accounting firms.
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ATO mulls delaying GST refunds to weed out bogus claims
Commissioner Chris Jordan has told Senate estimates that tight turnaround times hamper the Tax Office’s ability to prevent fraud.
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Consumer spending bounces back after troubling year-end
Retail is to thank for January’s recovery in consumer spending, says NAB.
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AI, pay rates and work flexibility top issues for profession
A huge global survey highlights a handful of concerns as key to the future for the tax sector.
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ATO defends ‘strong’ GST fraud controls against ANAO criticism
The Tax Office says it is equipped to respond to fraud despite a critical report released by the national audit office on Tuesday.
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Tax Institute pushes for greater transparency on unregistered entities
Unregistered entities found to be in breach of the TASA should be included on the Tax Practitioners Board Register, says the Tax Institute.
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SMSFs ‘outperform big super funds by record margin’
The investment strategies of APRA funds struggled to cope with the 2021–22 market downturn, Adelaide University research finds.
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Operators, accountant of Chapel Street bars fined $137k
La La Bar Group’s records were “grossly inadequate” but its director and manager showed no contrition or remorse for its conduct, a judge says.
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Bracket creep hands top earners biggest tax breaks, survey finds
A co-director of the latest HILDA survey says the government must go further than stage 3 cuts to lower the average tax rates of low and middle-income earners.
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Business conditions worse before they get better: CreditorWatch
A drop in invoice values and a rise in defaults point to a challenging year ahead, says the credit bureau’s latest data.
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