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  1. ‘Stop bashing accountants,’ ATO told after commissioner’s smackdown

    Often on a national stage, Mr Jordan has made broad and aggressive comments about dodgy tax agents, including some late last month where he questioned the status of tax agents as “guardians of the system.” For accountants like Timothy Munro, founder at...

  2. Planners mirror accountants in education fight

    age of a financial planner being in the mid to late 50s,” said partner at Fortis Accounting Partners, John Kalachian late last month. “In general, a lot of people will go out of the industry because of it but in saying that, there are opportunities...

  3. NAB finds 84% of clients don’t want time-based billing

    — that should be the focus,” said investment analyst at Duxton Asset Management, Lauren Thiel. At the time of interview last year, she was a senior consultant at KPMG Australia. “If we provide people the opportunity to integrate family life with work...

  4. H&R Block plans for automation, paperless rollout

    basic elements of their compliance-centric offerings. Mid-tier firm BDO announced a digital transformation project late last year for its audit services, and EY marked plans to up its use of robotics and automation in its tax business....

  5. Record keeping basics targeted in national crackdown

    and enforcement powers where required. Changes made by the Fair Work Amendment (Protecting Vulnerable Workers) Act 2017 last year means the maximum penalties for failing to keep employee records or issue pays slips has doubled to $63,000 for a company...

  6. O’Dwyer’s education official set to join big 4 firm

    credentials to someone that has just got a degree and RG146,” said CA ANZ senior policy adviser, Bronny Speed, late last month. Accountants are also frustrated that the current guidance does not differentiate between accountants holding a limited versus...

  7. ‘Defies belief’: liquidators hit back in face of $14K fees

    liquidators have been unfairly targeted to the tune of about $14,000 in a lot of cases, and $750,000 for larger firms. Late last month, ASIC published indicative levies ahead of final industry funding invoices in January 2019, based on its budgeted...

  8. Sage makes play for larger firms in latest partnership

    Sage, the partnership reinforces its focus on the tax return market in Australia, and is in line with plans it foreshadowed last year to target larger firms. Sage’s traditional base has been firms with less than 10 employees, but its outgoing accounting...

  9. NAB begins national rollout of new services for accountants

    can better support SMEs and help them grow,” Mr Moore said. NAB flagged its intentions with the accounting profession late last year, after similar industry-specific moves in healthcare and agriculture. “What we’ve recognised is that, across all...

  10. Watch for new duties as US, China trade war escalates

    on the possible trade war between the US and China, as the fallout might impact their business clients through new costs. Last week, US President Donald Trump raised the possibility of tariffs on another US$100 billion worth of Chinese exports to the...

  11. Keating knocks ‘freebie’ imputation credits

    “Borrowing outside of super — usually with double incomes are used in calcs despite potential future family plans (and also last year's bonus considered as ‘normal income’) — is a greater systemic risk to the economy than borrowing within SMSFs....

  12. EY finds IPO activity plummets in Q1

    in Q1 2018 raising US$15.4 billion, an increase of 29 per cent in terms of volume and 22 per cent by proceeds compared to Q1 last year. US IPO activity accounted for 36 IPOs raising US$12.8 billion, up 44 per cent in terms of volume and 17 per cent by...

  13. ‘You may have updates to install’: ATO updates PLS transition timeline

    for any service updates. “We are well over halfway towards the target to be completely in PLS. Since the start of tax time last year 1 July 2017, we had 4 million returns coming through the channel,” said Mr Watson. “Make sure you are reading...

  14. PwC set to review CPA Australia Advice

    is in line with recommendations from former auditor-general Ian McPhee’s report into the association and its subsidiaries last year. “Until the review is complete and the report is received and considered, the directors will continue to operate CPA...

  15. Thomson Reuters, Westfield exec to head Tax Institute

    take over from interim chief executive Vince Lendrum, who took over the reins when Mr Rowland departed the role in September last year after 19 years of service. Mr Hurst was most recently a director at Thomson Reuters, working within the tax and legal...

  16. Inspector-General knocks ATO boss’ tax agent blasting

    has risked further damaging a fragile working relationship with the profession. At the Tax Institute’s National Convention last month, Mr Jordan took another swipe at tax agents in the context of its work-related expenses crackdown, saying the results...

  17. CA ANZ boss hints at joint accounting bodies reunion

    the associations was intended to present a united lobbying front to government on behalf of the accounting profession. The last formalised meeting between the three bodies was in 2012, but CA ANZ chief executive Rick Ellis said he’s in talks with CPA...

  18. New ASIC levies for accounting professionals cop backlash

    in some cases, has had industry pushback as costs to liquidators and auditors are expected to be passed onto clients. Late last week, the corporate regulator published indicative levies based on its budgeted regulatory costs outlined in ASIC’s draft...

  19. Property investors signal retreat in latest big bank figures

    cope with their levels of debt. Property investors also had deductions disallowed for travel expenses, effective from 1 July last year, as part of the federal government's plans to "improve the integrity of negative gearing" in the 2017 budget....

  20. Property woes compound for SMSF clients

    Ms Brown said. For several months, even specialist SMSF brokers have been finding the market for SMSF loans challenging. Last year, Thrive Investment Finance owner Samantha Bright said tougher loan-to-value ratios and capital requirements for SMSF...

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