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  1. ATO adviser urges bookkeepers: ‘don’t judge Simpler BAS’

    claims that Simpler BAS is “not as simple” might be missing the purpose of the changes to the detriment of their clients. Last week, The Bookkeeper published comments from Carbon Group which questioned whether the ATO’s introduction of Simpler BAS...

  2. Sluggish stats call for ‘bold, decisive’ action in accounting

    year. This represents a 0.1 per cent increase compared to the 25.3 per cent representation for the same reporting period last year, and is well short of the AICD’s 30 per cent target. Similar patterns exist in the accounting profession, most notably...

  3. Accounting exec finds clients spooked by govt tinkering

    dust settle” on changes to retirement savings vehicles, particularly super, noting confidence has taken a hit following the last two federal budgets. Cooper Partners director Jemma Sanderson, who won the SMSF Adviser of the Year at the inaugural Women...

  4. KPMG argues against 'significant' cost increases in super insurance

    finding that tax on insurance payments outweigh the costs of tax concessions provided to group insurance in superannuation. Last week KPMG released its report into the costs and benefits of default group insurance in superannuation, which was prepared...

  5. Australian alt-fi market growing finds big 4 firm

    introduction of legislation to parliament to enact the extension of crowd-sourced equity funding to proprietary companies last week. However, RSM raised doubts about the new fundraising approach and the conditions of eligibility.

  6. Mid-tier questions new equity funding scheme amendments

    A mid-tier accounting firm has analysed the changes made by the government last week to the crowd-sourced equity funding scheme (CSEF), raising questions over the conditions of eligibility. Last week, Treasurer Scott Morrison announced the introduction...

  7. New legal protections a win for accountants, says big 4 firm

    protections and has highlighted the role that accounting firms can play in encouraging whistleblowers to come forward. Last week the parliamentary joint committee on corporations and financial services released a whistleblower protections report,...

  8. Accountants' loophole in regulator's sights

    services without a licence on the basis that it was ‘execution only’ is a risky move that could land them in more trouble. Last week, ASIC distributed letters to unlicensed accounting firms after analysing their advertising and corporate websites,...

  9. New mid-tier director tips M&A spike

    the firms’ corporate and mid-market M&A business as activity begins to increase, and is eyeing growth this financial year. Last week, RSM announced the appointment of Justin Audcent as a director in its Western Australia corporate finance team. Mr...

  10. Mid-tier criticises tax consolidation legislation

    draft tax consolidation legislation that will “disadvantage” companies that have been consolidated since 1 July 2016. Last week the Minister for Revenue and Financial Services, Kelly O’Dwyer, released the Treasury Laws Amendment (2017 Measure No. 9)...

  11. CPA review finds misdirection of funds, calls to freeze president's pay

    is at odds with public messaging from CPA Australia, both during and after the reign of Mr Malley. At a Senate hearing last week, both president Jim Dickson and director Graeme Wade, repeatedly rejected suggestions that the licensing arm is a failure....

  12. Employers’ poor record-keeping leads to $13K backpay

    In another messy visa case and following the regulator’s inquiry last year, one employer backpaid two overseas workers $13,000. The British nationals were in Australia on 417 working holiday visas and casually worked at a regional farm for four months...

  13. Bookkeepers named in network’s national acquisition campaign

    Block confirmed to The Bookkeeper it has set its broad fee acquisition target at $2 million for this financial year. In the last three years, H&R Block has acquired 10 independent practices, totalling about $3 million in fees. Firms with bookkeeping...

  14. National network set for aggressive acquisition launch

    H&R Block confirmed to Accountants Daily it has set its fee acquisition target at $2 million for this financial year. In the last three years, H&R Block has acquired 10 independent practices, totalling about $3 million in fees. The network will be...

  15. CA pushes govt to fix compliance burden for accountants

    of business registers, citing anti-fraud benefits and the potential to reduce paperwork and process for accountants. Last week, Chartered Accountants Australia and New Zealand’s (CA ANZ) tax leader, Michael Croker, made a submission in response to...

  16. Mid-tier hits out following contentious state budget

    state budget, concerned that key proposals could have a negative impact on business in the state and in turn, clients. Last week, the Western Australia government released its state budget which included three changes which Leon Mok, managing director...

  17. ATO, mid-tier flag compliance risks in clients' claims

    economy by the ATO, one mid-tier manager has urged accountants to dig a little deeper into their clients’ activities. Last week the ATO updated its guidance on the tax obligations of the sharing economy, reminding its participants that they must declare...

  18. National accounting network adds new firm

    beginning of this calendar year, and chair of Walker Wayland Paul Hilton said the network has been eyeing the firm for the last couple of years. For Walker Wayland, the addition expands their reach in Western Australia, where it didn’t have any presence...

  19. New workplace laws get regulator’s nod, up penalty price tenfold

    pay slips to workers, or provide the Fair Work Ombudsman (FWO) with false information or documents. FWO noted that last financial year, two-thirds of its court cases involved alleged record-keeping or payslip contraventions with nearly one-third...

  20. Understanding the implications of STP

    time, even years before this can happen. Eventually, we will simply tick “final payrun” and the figures will be reported as last figures (or payment summary) to the ATO. What if I make errors or need to change a pay that has already been reported?...

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