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  1. Expansion strategy fuels 42% rise in Kelly Group revenue

    cent to $11.8 million despite a fall in its operating margin to 30 per cent from 33.5 per cent compared with the same period last year, and the group will pay a dividend of 2.4c per share, up 10 per cent. Group founder and CEO Brett Kelly said the...

  2. Bankruptcies ‘to triple if history repeats itself’

    that occurred when properties were over-encumbered,” he said. “At the moment, a lot of properties purchased through the last two years still have a good amount of equity and savings to stave off these ongoing issues. “The question is whether or not...

  3. Final QAR report ‘fails to address’ limited AFSL issue

    failed to adequately consider problems with the limited financial advice model, among other issues. The QAR report released last week said there was “little merit” in holding a limited Australian Finance Services Licence but opted against recommending...

  4. $1,000-a-month average mortgage increase ‘too much for many’

    or have applied for hardship. Finder home loans expert Richard Whitten said the succession of interest rate increases since last May were starting to bite. “Nine consecutive rate hikes from the RBA means an Australian with the average loan size of...

  5. Stress, pay and robo-accountants top deterrents to profession: ACCA

    among many Australian accountants. “They almost refocused on compliance work because there was so much requirement over the last two years,” she said. “They’re like, there’s enough work for me already here and I’m comfortable and I just don’t want to...

  6. Trade receivables plunge to record low: CreditorWatch

    data in 2015. The agency said trade receivables, which measured the average value of invoices, had been sliding since July last year and the 39 per cent drop in January compounded the usual seasonal fall. In a raft of bad data, the January Business Risk...

  7. Construction companies account for 30% of insolvencies

    this year to fold, filing for bankruptcy and owing about $7 million to creditors, following crises at ProBuild and Metricon last year. BDO said the construction industry employed more people than any other in Australia and generated more than $360...

  8. ATO sticks to its guns in revised WFH deductions regime

    after feedback from the industry. The compliance change, which was scheduled for 1 January in draft PCG 2022/D4 published last November, was a partial win for critics who said most taxpayers and accountants would be unaware of the revised requirements...

  9. Cloudstaff acquires optiBPO to drive global growth strategy

    of $123 million in 2021–22. “Cloudstaff was already growing at more than 50 per cent a year as the pandemic hit and the last three years have added fuel,” said Mr Ernst. “We’ve doubled our team size since 2020 and are planning to increase it by a...

  10. ATO releases record $573m in super on compassionate grounds

    grounds, it has also received a landmark amount in lost or unclaimed superannuation with an extra $2.1 billion added since last financial year. Deputy commissioner Emma Rosenzweig said it was a simple process to determine whether any of the lost super...

  11. Inflation has peaked but further rate rises on the cards: RBA

    “The decision is the tenth consecutive increase since May 2022 and comes after national accounts and CPI data released last week revealed that both economic growth and inflation have slowed faster than expected, making the wisdom of this decision hard...

  12. ATO interest charges hit highest level in a decade 

    quarter of 2012 when the GIC annual rate was 10.62 per cent and the SIC annual rate was 6.62 per cent. For the same quarter last year, the rates only increased by 0.03 per cent, with the GIC rate at 7.07 per cent and the SIC rate at 3.07 per cent. The...

  13. ‘No material exposure’ to troubled SVB, Xero assures ASX

    the stockmarket it has no “material exposure” to the troubled Silicon Valley Bank following its meltdown in the US late last week. “As at 10 March 2023 Xero’s total exposure to SVB was approximately US$5 million, reflecting Xero’s local transactional...

  14. 14m personal records stolen in Latitude hack

    details involved in the Latitude attack now exceeds the 9.7 million customers compromised during Medibank cyber breach last October and a similar number in the Optus hack last September. Cybersecurity expert Professor Nigel Phair of Monash University...

  15. Latitude rebuffs ransom demand from cyber criminals

    a ransom demand from the cyber criminals who made off with the personal details of millions of present and former customers last month. “Latitude will not pay a ransom,” the company said in an update to the ASX. “This decision is consistent with the...

  16. EY scraps plans to split, but recommits to the idea

    plans to split the company after opposition from its US branch and its future now looks uncertain after it emailed partners last night saying it remains committed to the idea. Project Everest, which planned to divide EY into separate audit and...

  17. EY Australia staff in job cuts firing line

    to brace for cutbacks after being “disappointed and embarrassed” by the collapse of the split plan, the Guardian reported last week. It quoted a UK managing partner as saying it would target “inefficiencies” in the business and start cost-cutting in...

  18. Rate rise ‘will push at risk mortgage-holders to record high’

    the eve of the next RBA decision about interest rates and shows the cumulative impact of 10 consecutive increases since May last year, with only one rise (by 0.25 points in March) during the survey period of Q1 2023. Roy Morgan said the number “at risk...

  19. ChangeGPS cracks the big time with PKF deal

    notes for the purposes of the ATO.” The s100A tool did the calculations for trust distributions in the wake of last year’s ATO ruling and also assisted in the provision of advice. Another tool, released today (4 May), addresses the requirements of...

  20. 8 months after suicide, nervous EY staff await review ‘in weeks’

    an independent report as employee concerns over safety increase. The findings of a review into the suicide of an EY employee last August are due “within weeks”, the firm says, as staff increasingly share concerns about safety in the absence of any news....

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