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  1. 70% of turnaround experts expect recession within a year

    professionals expect Australia to be in a recession within 12 months in a sharply pessimistic change of mood since last year, according to a survey by KordaMentha and Turnaround Management Australia. Just 27 per cent thought a recession was likely in...

  2. Medical centres confront $600k payroll tax bills or closure

    of thousands of dollars have already been sent to medical centres in NSW and Victoria after the state revenue offices last week confirmed that GPs count as employees. The Royal Australian College of GPs said several regional practices had received...

  3. NSW, Victoria prescribe GP payroll tax without amnesty sweetener

    rulings from the NSW and Victorian state revenue authorities, both released on Friday, recognise a landmark court decision last year that changed the game for GPs working at medical centres. With Western Australia going its own way, the other four...

  4. Reforms to wholesale investor rules desperately needed: CPA

    grow, this is leading to increased risk for consumers. “A major concern is that the thresholds have not been adjusted in the last two decades,” said CPA Australia’s head of policy Elinor Kasapidis. “We are concerned that some people are being placed in...

  5. Successful accounting firms embracing technology

    aims to shed light on technology adoption, current challenges, and strategic priorities for the upcoming year. Comparing Last Year's Goals with Current Priorities: As technology continues to reshape the accounting industry, embracing its potential...

  6. AI ‘perfect for the heavy lifting on routine tasks’

    it as a query, and then runs the query on the practice management database to see what the actual status is and what the last note was, creates the response for you. “If 30 per cent of email is related to these types of queries, how much of the firm’s...

  7. MYOB adds novated car leasing to Flare Benefits app 

    exempting EVs from fringe benefits tax. The Flare Benefits app, launched in May following MYOB’s purchase of fintech Flare last year, already enables SMEs to deliver staff benefits such as supermarket discounts. MYOB said the app could be tailored to...

  8. AFSA sharpens teeth as personal insolvency numbers rise

    And, addressing the Australian Restructuring Insolvency & Turnaround Association national conference on the Gold Coast last week, he called upon the profession to help stamp out “untrustworthy advisers”. “We will not accept those who harm vulnerable...

  9. Cross-border partnership creates Canadian CPA pathway

    renewed twice since, the arrangement facilitates CPA accreditation for members between Australia, New Zealand and the US. Last year, CIMA and AICPA also created an Australasian committee to increase the association’s local presence. Speaking to...

  10. Rise in listings could see ‘mild deterioration’ in housing market, says CoreLogic

    the past five months, this may be prompting more selling decisions that did not take place when the market was in decline last spring." Overall, Ms Owen said official data on mortgage stress has not seen a blow out in arrears amid the expiry of low...

  11. Kilimanjaro wins temporary reprieve on MYOB Exo margins

    from pursuing a reduced margin on its software until the outcome of a court case between the two. The Federal Court ruling last week restrains MYOB from acting for breach of contract or withholding software licences if Kilimanjaro pays MYOB 65 per cent...

  12. Mackay Goodwin appoints bankruptcy division head

    in NSW and 2,494 personal insolvencies in Australia, a 12.6 per cent national increase compared to the same period last year. ASIC reported a 9 per cent decrease in company insolvencies in June compared with May and Mr King expected an “uptick” on those...

  13. NSW leads plunge in business confidence to record lows

    confidence than other states in recent years as the mining industry has outperformed other industries.” The RBA’s decision last week to hold interest rates for a second month in a row also failed to lift consumer sentiment, which dipped 0.4 per cent...

  14. Data hacks set off alarm bells about privacy, survey finds

    controls over what information can be collected and how it is held. Data breaches affected almost one in two Australians last year and nine out of 10 now want more rights under privacy laws to delete what is being held or to pursue compensation,...

  15. Business growth ‘resilient’ despite economic headwinds: COSBOA

    Consumer Price Index (CPI) as a proxy for prices, sales volume rose 6.02 per cent. This is a change of +4.97 per cent since last quarter’s report,” the report said. Small to medium business sales rose 2.29 per cent, according to the report. “Small to...

  16. Most taxpayers ‘in the dark’ about their return result

    supplied to Accountants Daily, showed the average refund for returns processed during July was down by $438 compared with last year to $2,331. However, taxpayers using an agent got a substantially better result with an average return of $2,669 against...

  17. Carbon Group adds Harding Martin to Qld offices

    The boutique firm becomes the group’s fourth office in the Sunshine State following growth last year in South Australia. Ipswich-based Harding Martin has joined the Carbon Group to become its fourth office in Queensland and 17th nationally. The group...

  18. Average ATO refund tumbles $430 compared to last July

    is already down by $1.7 billion. The average refund for early tax return lodgers has dropped by more than $430 compared with last year and the total amount issued has fallen by $1.7 billion, according to ATO statistics for the first month of FY23-24....

  19. Deloitte acquires cyber security specialist ParaFlare

    also increasing in frequency and cost with the number of complex ransomware attacks up by more than 300 per cent over the last five years. “This new partnership will allow us to offer highly individualised and modular solutions that are cloud-based,...

  20. RBA delivers welcome pause but raises fears of another rise

    time. She said business-to-business trade payment defaults are at record levels and around 50 per cent higher than this time last year. “This means a record number of late payment defaults were lodged by one business against another, highlighting just...

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