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  1. The confidence needed to embrace advisory

    books. This isn’t why many accountants entered the profession – but it is where most end up spending their time. Over the last decade – and with increasing momentum in more recent years – that is changing, with the profession transformed by a range of...

  2. Pitcher Partners lauds fintech ‘sandbox’ scheme

    and access to be able to navigate and apply all the relevant ASIC and Corporations Act requirements.” He added: “The last thing you would want is to make a regulatory sandbox that is complicated, as it would defeat the purpose of having such a regime."

  3. Westpac to build on SMSF relations

    the investment administration side [as well as] all our strong relationships with advisers,” Mr Lawrenson said. In December last year, the first phase of the SMSF offering for BT Panorama was officially launched, enabling advisers, accountants and SMSF...

    • Type: Article
    • Author: Katarina Taurian
    • Category: Super

  4. Hayes Knight network disbands

    citing a fractured business model and a misalignment of strategy. According to Mr Hayes, agreements were finalised last week, with the Sydney office continuing to operate under the Hayes Knight brand, and the Adelaide, Brisbane and Melbourne offices all...

  5. Australian CFOs losing faith in corporate reporting

    55 per cent are confident that they are achieving full compliance with their corporate reporting, compared with 84 per cent last year. The responses from Australian CFOs depicted a similar trend, with only 40 per cent of CFOs confident in their overall...

  6. Four things the innovative accountant should know about alternative finance

    but they are actively choosing not to participate. Despite overall business credit outstanding having grown by 8.7% over the last 12 months, only 14.8% went to SMEs, with the other 85.2% funding large businesses (RBA). In fact, if you look back over...

  7. Don't expect leniency from ASIC, IPA warns

    they don’t do enough of them, so it’s not worth beefing up or staying in, so they’re just going to exit,” she said. Late last week, ASIC reported an increase in the number of applications received for a limited licence, but commissioner Greg Tanzer...

    • Type: Article
    • Author: Katarina Taurian
    • Category: Regulation

  8. Moore Stephens announces merger with mid-tier rival

    has also recently lost its Canberra office, with ACT-based Synergy Group acquiring the office in a deal announced late last year. The firm has also lost a high-profile tax specialist in Andrew Lam to rival mid-tier Hills Roger Spencer Steer. Moore...

  9. Australian firms warned of cloud ‘death spiral’

    if they want to avoid a similar fate. “It’s hard to get out of that death spiral that the Kiwis have got,” he added. “In the last two years we’ve just seen this start to happen in Australia; profit per partner and revenue per partner on the decline, and...

  10. ASIC predicts practitioners will exit SMSF advice

    this year has increased by 47, and the number of applications it has approved has increased by seven. In a podcast released last week, Mr Tanzer said he is confident accountants are well aware of their obligations after 30 June if they wish to continue...

    • Type: Article
    • Author: Katarina Taurian
    • Category: Super

  11. Triguboff calls for relaxed rules on SMSF borrowing

    to be the same as they are for regular purchasers. Mr Triguboff told delegates at the SMSF Members Association conference last week that SMSFs should be more freely able to use money for housing. “I would like the rules for SMSFs as far as lending is...

    • Type: Article
    • Author: Katarina Taurian
    • Category: Super

  12. The Tax Institute hits out on tax reform

    system is likely to occur rather than dealing with the new challenges that confront our tax system that were highlighted in last year’s Re:Think Tax Discussion Paper as the reason for needing reform. “Ensuring our tax system is fair, simple, efficient...

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

  13. MYOB reveals 2015 results

    with a number of significant measures differing markedly from prospectus forecasts. The accounting software provider, which last year undertook the largest technology IPO in the history of the ASX, has this morning announced 10 per cent pro forma...

    • Type: Article
    • Author: Michael Masterman
    • Category: Technology

  14. ATO warns on poor asset records causing SMSF breaches

    personal debts because they were not recorded correctly. Speaking at the SMSF Association’s national conference in Adelaide last week, ATO assistant commissioner Kasey Macfarlane said it is important fund assets are clearly distinguished as such, and...

    • Type: Article
    • Author: Miranda Brownlee
    • Category: Super

  15. Short Term Loans - Exits 101

    or for loan continuity on revised terms should be explored. Formal default and legal proceedings really should be a lender’s last resort. A case study Quantum Credit had set a 6 month loan for $1.5m on a commercial mortgage in WA and the exit was to be...

  16. Xero reveals latest partnership

    officer said: “Historically Serko has targeted the large business market; however we’ve developed the technology over the last year to allow it to be used by smaller businesses that have a similar set of challenges to corporates, but far fewer...

  17. Tax office issues warning on imminent rule change

    fund’s name within seven days of the SMSF acquiring it. Speaking at the SMSF Association’s national conference in Adelaide last week, the ATO’s Kasey Macfarlane said the commissioner is not going to be sympathetic to those who have not met the new...

    • Type: Article
    • Author: Miranda Brownlee & Katarina Taurian
    • Category: Tax

  18. Nixon urges accountants to seek further education

    to succeed in the new accounting environment, skills traditional education offerings aren’t currently delivering. “In the last week I coined the phrase, 'to grow, you have to know',” Mr Nixon said. “Accountants know about what they’ve been doing for a...

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

  19. Accountants risk forgoing licensing until 2019

    applications have been submitted, with only 31 per cent of applications granted. “Some accountants are waiting until the last minute to lodge their licence application, but there are risks to this approach,” Ms Lumsden Kelly stated. “If you don’t lodge...

  20. Reckon positive despite NPAT drop

    finding success in an industry that is ripe with change and disruption. “We’re really proud of what we’ve delivered over the last 3 or 4 years, especially over the last 12 months, and then to have these results back it up only confirms that we’re on the...

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