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  1. ATO movement sparks audit, reviews concern

    the ATO to extend the operation of the Tax Avoidance Taskforce and to expand the Taskforce’s programs and market coverage. Last week, ATO deputy commissioner Deborah Jenkins announced that the Tax Office will launch a new black economy hotline on 1 July...

  2. Intuit ‘won’t artificially price’ new bookkeeping service

    has sought to reassure that its new bookkeeping service will not undercut the local market by being artificially priced. Last week, Intuit launched QuickBooks Live in the US, offering the ability for a small business to link up with an independent...

  3. Don’t risk your integrity at the expense of client relationships

    firm has a proven tax audit insurance offering in place – Audit Shield. You opted to accept this coverage when it was last offered. Your accountant explains that any additional fees would be covered and that there is no additional payment necessary for...

    • Type: Article
    • Author: Accountancy Insurance
    • Category: Business

  4. Employment Contract Templates: Tips & Traps

    also updated regularly. The problem is that people often forget to look back over the terms of the contract and when it was last updated, particularly in the excitement of hiring a new employee. Out-of-date templates or internet templates can give you a...

    • Type: Article
    • Author: Simone Daniells, Andreyev Lawyers
    • Category: Business

  5. Fair Work says Uber drivers are not employees

    affordable and reliable social protections, whatever category of employment they are in.” The spokesperson added that late last year, Uber added a “partner support package” for people using the platform for work, which the company said would “provide...

  6. PwC splits UK audit business

    split to ensure that the audit arms are under separate management from the rest of the firms’ business. “Over the last year, we have been listening to the views of a wide range of stakeholders about the future of audit, exploring how it needs to change...

  7. Taxpayers cautioned against lodging early this year

    assessments, with no requirement for the taxpayer to lodge another tax return or seek an amendment,” the Tax Office said last month. The Institute of Public Accountants general manager of technical policy Tony Greco said that, while there may be a...

  8. Bookkeepers push back on growing accounting competition

    can package up bookkeeping services into their fixed fees,” Ms Hoosen said. “I’ve spoken to a lot of bookkeepers over the last 12 months who aren’t getting referrals from accountants anymore because the accountants are now suddenly seeing this as a real...

  9. ATO told to clarify legal professional privilege stance

    to deal with these concerns,” Mr Neilson said. The ATO’s concern over the use of LPP was raised at its NTLG meeting last year, where it said that LPP was being claimed on an “industrial scale”. “In an increasing number of cases, we are seeing claims of...

  10. New partner hire brings BDO national tally to 188 partners

    BDO, and being able to attract a partner of the calibre of Leah is a testament to BDO’s growth and investment in this area.” Last week, BDO also announced the appointment of a new partner specialising in leadership development as it looks to bolster its...

  11. Finance teams seriously unprepared for cyber attacks

    is an area where financial professionals must take the lead given cyber attacks are a constant and success almost a given.” Last year, new mandatory notifiable data breach (NDB) laws kicked in, requiring firms to provide notice to the Office of the...

  12. TPB, ATO practitioner crackdown reels in $40m

    late SMSF returns owed by tax practitioners have now been recovered by the ATO and Tax Practitioners Board. First launched last year, the TPB’s debt and compliance project has now seen tax practitioners pay over $40 million in outstanding tax bills....

  13. Which major event will shape your success this year?

    and business leaders, MYOB Partner Connect never fails to generate an atmosphere of excitement, education and inspiration. Last year, MYOB brought together thousands of attendees in two separate events – one for Australia and one for New Zealand. This...

  14. Introducing standard deduction ‘not a high priority’

    you don’t have to have all of your receipts for small amounts, but you still got to explain what you spent the money on.” Last year, the House of Representatives Standing Committee on Tax and Revenue’s long-awaited Inquiry into the Taxpayer Engagement...

    • Type: Article
    • Author: Jotham Lian
    • Category: Tax

  15. Last chance to enter the Women in Finance Awards

    Submissions are flooding in for the annual Women in Finance Awards, and entries close at the end of this week. Accountants Daily, together with AMP Bank, encourage female leaders in finance to get their submissions in ahead of this Friday’s deadline....

    • Type: Article
    • Author: Reporter
    • Category: Business

  16. STP is an entry way into value pricing for accountants

    they must first unlearn old practices. “All of the mindsets, tools and strategies that we have dragged with us for the last two decades while billing based on time or costs, have become a part of who we are. “Accountants actually first have to unlearn...

  17. Firms warm up to in-house planners: Investment Trends

    Fund 360 in second spot at 89 per cent. “Accountants acknowledge the improvements made by SMSF software providers in the last 12 months, with industry-wide satisfaction increasing for all 15 key service areas measured. Satisfaction increased the most...

  18. New assistant treasurer and super, financial services minister appointed

    has appointed Michael Sukkar as Assistant Treasurer, taking over from Stuart Robert who had been in the role since August last year. Mr Sukkar has also been appointed as Minister for Housing. Mr Morrison said that Mr Sukkar would have particular...

    • Type: Article
    • Author: Reporter
    • Category: Super

  19. ATO rolls out agent, client visits on Sunshine Coast and Victoria

    of your processes and what the drivers are behind what we're seeing,” said ATO assistant commissioner Colin Walker late last year. “Again, you shouldn’t be worried about this – it is about ensuring we understand how you operate, we understand your...

  20. ‘Very handy’: ATO provides guidance on client STP reporting status

    reporting status of their clients, with the profession called to ramp up preparation ahead of the impending start date. Last week, the ATO sent out an email to tax and BAS agents with a list of clients who lodged a payment summary annual report for...

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