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  1. Software savvy grads a ‘prize catch’ in 2018

    Last year saw many universities exposed for their out-of-date accounting courses, giving graduates who go above and beyond with their software and IT knowledge a “good competitive edge” according to one software executive. Throughout 2017, major...

  2. Super returns on the up despite clients’ hesitation

    momentum had both helped returns hit the estimated 10.5 per cent – almost double the 5.6 per cent average seen over the last decade. This figure would also mark the sixth consecutive year of positive returns, the statement added. As a result of the 2016...

  3. 'One sloppy team member' could topple a firm under new laws

    protocols and notification procedures kicking in next month. The Privacy Amendment (Notifiable Data Breaches) Bill passed last year and will commence on 22 February this year. It will require agencies, organisations and certain other entities to provide...

  4. ‘Bean counter’ image tipped to fade as accountants look to strategic partnerships

    real relationships and new communities promoting knowledge sharing and support. We all win when this happens.” Looking ahead Last year, Sequel CFO announced the launch of its first two franchisees and recently recruited Lance Rubin from KPMG as head of...

  5. ‘Predictable’ budget leaves regional firms behind, says mid-tier

    the back of the positive mid-year economic and fiscal outlook. In the MYEFO release by Treasurer Scott Morrison in December last year, the government confirmed that the budget was on track to return to balance in 2020-21, with the underlying cash...

  6. Accountants farewell 'biggest headache' of 2017

    Transitional CGT relief as part of the superannuation reforms that kicked in last year were amongst the pick for the “biggest tax and accounting headache” in 2017 by one industry lawyer. The reforms, which kicked in on 1 July 2017, included the $1.6...

  7. Supply, demand patterns for firms creates 'interesting dynamic'

    of market to look at an external exit, because there’s a ready market.” Mayflower director Sarah Penn said this might not last over the long term, however, with a lot of Baby Boomers looking to retire over the next 10 years. “Everyone’s been talking...

  8. Top 3 CGT errors in 2017 flagged

    of the contribution,” Mr Lewis explained. This may have happened in circumstances where the members wanted to utilise their last opportunity to contribute the $540,000 worth of non-concessional contributions into superannuation, he said. “So [in those...

  9. Accounting, advisory network reshuffles exec team

    partner. The collaboration is designed to improve Findex’s family office offering, which was originally launched in October last year. Mr Gardiner will also continue in his role as international liaison partner for Crowe Horwath Australasia, which is a...

  10. Lightweight valuations could tip off the ATO, accountants told

    invested in trying to increase the value of that property as much as possible in terms of the reset of the cost base.” Last month, ATO assistant commissioner Kasey Macfarlane said an independent valuation by a professional valuer is one of the strongest...

  11. ‘Western Sydney is a powerhouse,’ says KPMG as big 4 firms move in

    growing their presence in western Sydney. Deloitte is the largest, located in Parramatta and Norwest Business Park. In June last year, PwC announced that about 200 staff would be relocated to the Western Sydney University Parramatta campus. It also has...

  12. Advice, tax group makes WA acquisition

    the issuance of $956,000 of shares in the company at an issue price of $0.15 per share (a 25 per cent premium to the last closing price, and reflecting the 90-day VWAP) for a total of 6.37 million shares; and the issuance of a two-year interest-free...

    • Type: Article
    • Author: Reporter
    • Category: Tax

  13. Twofold increase for alternative lending a ‘good sign’ for accountants

    of a spike in job growths, with recent figures by the Australian Bureau of Statistics showing over 61,000 new jobs in the last month. “There has been an uptake in activity in the small business space, as more than 50 per cent of employment comes from...

  14. CPA’s advice arm heads for review as CEO gig gets ‘strong’ interest

    to get authorised under an AFSL. Aside from its huge losses, it has also only onboarded 27 authorised representatives as of last month, which is well short of the business case estimates of 250 by this year. If its current pace of growth continues,...

  15. Government pushed to address tax, property glitches

    and tax office will need to move on this soon, with the First Home Super Saver Scheme passing both houses of Parliament last week. “That means that for the person making personal contributions or salary sacrificing contributions [for the scheme], the...

  16. Accountants in driver’s seat as wealthy clients’ 2017 patterns revealed

    with over $1 million in investable assets outside of their own home, business and non-SMSF super, up by 2 per cent over the last 12 months following two consecutive years of decline. Speaking to Accountants Daily, Investment Trends senior analyst King...

  17. Audit office reaches verdict following tax revenue hole

    the ANAO’s analysis of ATO data, the proportion of settlement variance for large businesses was less than 50 per cent in the last three years, often lower than other market segments and in 2015-16 was the lowest (26 per cent) among all market segments....

  18. Accounting, fintech software firm bolsters leadership team

    announced an app partnership with Xero, targeting the corporate and trust compliance process. Most recently, late last month Tom Eustice was appointed as national sales director at NowInfinity, to service the accounting and bookkeeping market, and grow...

  19. ‘Material decline’ in corporate insolvencies

    published its yearly review of corporate insolvencies, which based on statutory reports lodged by external administrators last financial year. The reports show a “material decline” in reports received during the 2016/17 financial year, down almost 18...

  20. Government marks further super changes, boosts ATO's portfolio for 2018

    hardship and as compensation to victims of crime, and is handing more regulatory responsibility to the ATO. In a statement last week, Minister for Revenue and Financial Services Kelly O’Dwyer said Treasury will be reviewing the current rules governing...

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