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  1. Loan rejections surge for struggling SMEs

    increase in denied applications and deteriorating sector performance. The outlook for small businesses continued to decline last quarter, with data showing a spike in loan rejections and arrears as high interest rates and inflation take their toll....

  2. SME digital platform disputes up 86%: ASBFEO

    Disputes between small businesses and big tech platform providers have increased by 86 per cent since the same time last year, the Australian Small Business and Family Enterprise Ombudsman (ASBFEO) revealed. The small business advocate said digital...

  3. Cost-of-living pressures spark side hustle motivation: SBLA

    SBLA said the survey was commissioned due to Australian living cost indexes having risen 3.7 to 6.2 per cent over the last 12 months. This resulted in 51 per cent of Australians receiving income support to skip meals due to increased prices, according...

  4. CA ANZ pushes for director, president pay rises

    with the remuneration of chief executive Ainslie van Onselen increasing again to top the $1 million mark, up from $940,000 last year. This included a performance-based incentive of $225,000.

  5. CPA Australia reveals focus for first in-person congress since 2019

    Canberra. The event will be held virtually and in-person for the first time since 2019, after being held virtually for the last four years with 42,000 participants. AI thought leaders will discuss how the integration of AI in accounting may shape the...

  6. CA ANZ backs government’s mission to improve invoice payment times

    of Australia’s mandatory scheme found that e-invoicing was poorly functioning, which has seen some improvement over the last 12 months. However, CA ANZ said further improvement is needed and there needs to be an increase in e-invoicing adoption....

  7. Accounting industry told to ‘stand its ground’ on code changes

    should vote in favour of a motion to disallow the Tax Agent Services (Code of Professional Conduct) Determination 2024. Last month, Senators David Pocock and Dean Smith gave notice of a second disallowance motion to be moved in the Senate on 8 October...

  8. BDO’s big 4 raid continues with 2 key partner hires

    approach”. He had over 14 years of experience in the tax industry, starting his career at KPMG and spending the last decade at PwC. Incoming audit partner Delarey Nell was also a big four veteran with over two decades of experience working across...

  9. Esteemed accounting lecture hits 85 years

    The Annual Research Lecture facilitated by CPA Australia and the University of Melbourne marked 85 years last week. Last week, CPA Australia and the University of Melbourne marked 85 years of the collaborated Annual Research Lecture. This year the...

  10. Government fails to deliver on agreed changes to code instrument: joint bodies

    of industry bodies and associations have responded to the proposed agreements to the code of conduct instrument released last week with the vote on the motion to disallow the instrument looming next week. In their submission, the joint bodies said while...

  11. SMEs to slash spending on cyber security despite risks: Business NSW

    in cyber security. Business NSW said Australian Signals Directorate data highlighted 94,000 reported cyber crimes in the last financial year alone, a 24 per cent increase from the previous year. Business NSW CEO Daniel Hunter said the “sobering figures”...

  12. Building the next wave of leaders in the accounting profession

    so that mentoring has extended into management and making partner.” Smit says she’s seen a shift in the industry over the last decade, where the accounting profession is now more supportive of up-and-coming accounting professionals who are taking the...

  13. Reworked tax agent rules get cautious nod of approval

    Treasurer Stephen Jones’ release of draft amendments to the Tax Agent Services (Code of Professional Conduct) determination last week will modify the most contentious parts of the original version registered in July. The new amendments include a...

  14. CA ANZ narrows losses as member revenue surges

    per cent growth in its global membership base, which now sits at 139,162. The increase in membership revenue also follows last year’s $3.8 million increase, and a 1.7 per cent growth in members. CA Program revenue also rebounded, rising by $5.3 million...

  15. Necessary changes to the TASA Determination

    provision that is easily understood and implementable. Section 45 will apply to events that have occurred within the last five years, however: The five-year look back period does not apply to matters or events occurring before 1 July 2022 (to align with...

  16. Labor resists pressure to scrap negative gearing

    of the regime for successive election cycles, securing a two-month delay on the government’s Help to Buy bill in the Senate last week. They believe the shared equity scheme will drive up house prices and that reforms to negative gearing and CGT...

  17. Treasury releases draft amendments to code of conduct instrument

    has provided. In addition, tax and BAS agents will need to disclose the following events that occurred within the last 5 years: • Certain breaches of the Act or instruments made under the Act that have led to penalties or other sanctions; • Matters...

  18. Auditor Proud Day hits decade of international recognition

    crucial role played by the auditors with today marking the 10th year of Auditor Proud Day. Auditor Proud Day lands on the last Thursday of every September and is aimed at attracting more people to the profession and celebrating those already working...

  19. RBA's decision to keep rates on hold 'commendable' says BDO

    uncomfortably high. “The RBA seems to favour making its moves late in the game,” Shivadekar said. “It was one of the last central banks to start hiking rates post-pandemic, and now appears likely to be among the last to begin easing. “While the RBA will...

  20. Treasurer reveals additional cost-of-living relief solutions

    other measures to help Australians tackle the cost of living. More cost-of-living relief measures were rolled out on Friday last week to provide more help for Australians around the country, according to Treasurer Jim Chalmers. Chalmers said the...

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