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  1. Key audit appointments, M&A deals chalk up growth for EY

    EY’s revenue rose by almost 10 per cent over the last financial year as the big four firm secured several key audit appointments, and noted a strong demand for M&A services. The big four firm saw its revenue rise by 9.8 per cent to $1.78 billion for...

  2. Doubts linger over incoming SG legislation

    for SG, yet you haven't satisfied payroll tax, you might then get a knock at the door later.” Impact on clients As reported last week, some bookkeepers are finding clients are actively enquiring about the amnesty and are working under the assumption...

  3. $2.3m in scams, dodgy contracts sting taxpayers, businesses

    he said. Accountants and financial advisers have told Accountants Daily they’ve come close to being stung by a scam in the last 12 months, given how advanced the strategies of cyber criminals are. You can read more about their experiences here....

  4. Revenue at risk as ASIC hints at changes to grandfathering

    irrespective of consumer outcomes, adviser business outcomes and particularly given the political environment we’ve seen last night and today, my expectation is that when the royal commission makes its recommendations … that the government will be in no...

  5. Accountants’ exemption lobby hits scepticism

    for consumers of financial services,” the Office of former minister for Revenue and Financial Services, Kelly O’Dwyer, said last week in a statement to Accountants Daily. “The government will continue to engage with all stakeholders to ensure the...

  6. ‘Great deal of uncertainty’ with tax measures on hold

    Amendment (Enterprise Tax Plan Base Rate Entities) Bill 2017 and the defeat of the hotly debated corporate tax cut plans last week, a backlog of bills continue to sit before the Senate. Speaking to Accountants Daily, TaxBanter senior tax trainer, Robyn...

  7. Contentious bill passes Senate, key tax questions answered

    their return for the 2018 income year. “There may be some companies in the early stage of this compliance season in the last six to eight weeks, that have already lodged a 2018 company tax return, based on the current law that applies right now but as...

  8. MYOB set to scrap accounting desktop product

    cent of paying users are still on AccountRight Classic. He told Accountants Daily the bulk of new users, about 94 per cent last year, opt for online-only services. Mr Reed also said this move is “absolutely” in line with MYOB’s broader plans to cease...

  9. Fed court decision a lesson for bookkeepers

    leave is a lesson to bookkeepers to advise on the careful examination of applicable modern awards, says one association. Last week, the full federal court upheld a decision that casual truck driver Peter Skene was entitled to leave provisions under the...

  10. Accountants urged to steer clients through looming lending squeeze

    as they begin to navigate a tighter lending space. “The lending environment is certainly changing and has changed in the last couple of years and certainly with the royal commission now, the lending criteria is getting tighter, so I'm seeing accountants...

  11. Corporate clients urged to sit tight for tax rates despite new guidelines

    of the current sitting of Parliament before determining their tax and franking rate, despite the ATO’s new draft guidelines. Last month, the Tax Office released draft practical compliance guideline PCG 2018/D5 outlining its compliance and administrative...

  12. Clients' financial literacy helps super funds pounce: royal commission

    vulnerable to exploitation, flagging several concerns with the industry’s structure. In his concluding remarks at the end of last weeks’ public hearings on superannuation, Mr Hodge said the evidence heard by the royal commission during its fifth round...

  13. Tax agents smash deadline despite last-minute scramble

    The ATO revealed lodgement figures for SMSF annual returns were ahead of market expectations, after one of the busiest and most complex deadlines for high-net worth clients since the Howard and Costello era. ATO assistant commissioner Tara McLachlan...

  14. Accountants tipped to benefit from competition boost

    more competition in the banking and loans sector, as accountants and small business increasingly struggle to secure finance. Last week, the government released draft legislation to introduce a Consumer Data Right (CDR), which will provide individuals...

  15. Katarina enters a new relationship – with a new accountant

    Host Katarina Taurian is just starting out in a new relationship. Following a parting of ways with her last accountant, which she describes as “harder than her most difficult break-up”, she is now in the process of regaining that trust and relationship...

  16. Tax dodging sees accountant banned in $1.4m mess

    disqualified Jason Andrew Hammond from regional NSW after his involvement in three failed companies. The ban took effect last week, and will extend to 2023. The corporate regulator found, among a list of items, that Mr Hammond failed to pay tax and...

  17. High Court ruling offers relief over franking arrangement

    Supreme Court of Queensland of a franking credit streaming arrangement has been labelled a “relief” by one mid-tier firm. Last week, the High Court held that in Federal Commissioner of Taxation v Thomas & Ors, the provisions in subdivision 207-B ITAA...

  18. Accountants hang on despite ratings crash for finance sector

    in a row, banking, finance and insurance was the lowest category in the Index. Its net score has dropped dramatically from last year with a score of -15. It has never before scored this badly — 55 per cent of respondents consider the sector unethical...

  19. Dob in dodgy competitors, ATO says pre-tax agent strike

    the industry following the landmark individual tax gap report. The ATO’s individuals not in business tax gap report released last month, revealed an $8.76-billion tax gap, with tax agents in the firing line as its random enquiry program showed tax...

  20. KPMG snags another marketing heavyweight

    of such a dynamic business in a rapidly evolving environment is energising and I can’t wait to start making an impact.” Just last month, KPMG CBMA announced the acquisition of customer experience innovation consultancy, UDKU. The acquisition follows a...

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