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  1. Accountants told to take heed of new consumer trends

    use. Mobile technology has well and truly overtaken desktop computers as users’ choice of device to access the internet. Last year Zenith Media predicted that 79 per cent of internet use will be on smartphones and tablets in 2017, up from just 40 per...

  2. Tax refund fraudsters sentenced to jail

    who claimed a total of $1.3 million in fraudulent tax refunds with her co-accused had been sentenced to three years in jail. Last week, Thai national Pornpat Chuensukjit was sentenced in the New South Wales District Court to three years in jail after...

  3. ATO vows to fix systems for tax time as downtime looms

    next three months, including over Easter weekend. This comes after the ATO commissioner Chris Jordan AO released a statement last month promising that all portals and systems will be running smoothly for tax time. “I can assure the community that we are...

  4. Big 4 firm appointed liquidator for troubled WA developer

    the companies or their directors/officers. The Macro Group companies have already been subject to action from ASIC. In May last year, the Federal Court of Australia permanently restrained the marketing and promotion of a proposed Pilbara property...

  5. Reckon announces plans to demerge into 2 companies

    a proposal to demerge its document management division, allowing it to get "laser focused" on its accounting software core. Last week Reckon announced a proposal to demerge its document management division and list it on the AIM market of the London...

  6. CPA Australia defends controversial AGM location decision

    has defended its decision to hold its 2017 annual general meeting in Singapore, which a PwC partner labelled a ‘farce’. Last week, CPA Australia announced to its members via email that its 2017 annual general meeting (AGM) will be held in Singapore on...

  7. Mid-tier eyes aggressive diversity targets

    in Australia. Even worse, globally 12 per cent of CEOs are women, while in Australia that figure has been declining for the last five years and now sits at 3 per cent. On a positive note, the number of organisations with no women in senior leadership...

  8. Number of SMSF clients without accountant triples

    advice. “The issue though is that if you look at the number of SMSFs who use an accountant and how its has changed over the last 10 years, it's increased by only about 10,000 or 20,000 while the number of SMSFs who don't use an accountant has tripled...

  9. CPA facing potential lawsuit from members

    legal advice as to whether the decision to hold the AGM in Singapore might be in contravention of the Corporations Act. Last week, CPA announced to its members via email that its 2017 annual general meeting (AGM) will be held in Singapore on 27 April....

  10. Survey reveals top accounting challenges

    number three across Australia for accountants in our research, but I think it would be higher in some states than others.” Lastly the top challenges for the team, according to the report, are keeping employees engaged and motivated, helping staff adapt...

  11. Licensing apathy and confusion permeates accounting world

    breaking the law. Only 899 accountants had applied for an AFS licence or a limited AFS licence before the 30 June deadline last year, according to ASIC. Those who still have not applied and continue to give advice risk a range of potential ASIC...

  12. Accountants blow out ASIC’s processing times

    finalised, as the date projected by ASIC for the completion of the applications (31 March) fast approaches. Figures released last week from an ASIC Licensing Liaison meeting show there are still 78 limited licence applications in draft stage, 120...

  13. Late payments endemic hitting accounting industry

    Mr Seward said. “In fact, more than half (54 per cent) of Australian mid-sized businesses unlocked $1.84 billion in savings last year through negotiating early payment discounts with their suppliers, leaving them open to extra cash flow to reinvest back...

  14. ATO to ‘beef up’ review of companies’ tax frameworks

    New Zealand, at Thomson Reuters, “The justified trust initiative is really an extension of what the OECD proposed over the last couple of years about ensuring multinationals pay the correct amount of tax in the country they're operating in,” Mr Scull...

  15. Where to from here for bookkeepers?

    and team, and then creating revenue products that can work with your existing client base. 4. New revenue Following the last point, a lot of people seem to think that you need to gain new clients in order to keep growing. This is not always true. In...

  16. ‘One-stop shop’ model tipped to spike

    Rowe said that the demand for more services is evidenced by the fact that 25 per cent of clients have left their accountants last year because they want to retain more than just tax advice. Because of this, Mr Rowe said accountants need to stop...

  17. Industry execs welcome first steps in long-running tax saga

    and grow. It’s a good day for Australian small to medium sized businesses, their employees and the whole community.” Last Monday the parliament’s lower house passed the Turnbull government’s 10-year corporate tax plan, reducing the corporate tax rate to...

  18. Govt set for new surveillance on ATO

    Standing Committee on Tax and Revenue, in relation to scrutiny of the ATO, have been welcomed by one accounting body. Last week, the Australian government responded to the House of Representatives' Standing Committee on Tax and Revenue report, External...

  19. Accountants’ job seeking takes a slide

    Kristen Mangelsdorf told Accountants Daily that the hiring intentions for accountants have been relatively flat over the last few years, which could be a reason for this predominantly passive candidate pool. “So there are a lot of accountants who might...

  20. ATO hits up professionals in multibillion-dollar swoop

    affected taxpayers and their professional advisers. The 1,000-person strong Tax Avoidance Taskforce, which was established last year, has been investigating the tax arrangements of a large number of companies, including multinational corporations...

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