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  1. Changes to duty and land tax surcharges

    itself and retrospectively on acquisitions of residential property made directly or indirectly by that company in the last three years. Where residential land is purchased by multiple parties in which includes foreign person(s), the surcharge can be...

  2. Big 4 firm warns accountants amid worrying fraud findings

    and has called on accountants to exercise scepticism around their own firms as well as their clients' businesses. Last week EY released its Asia-Pacific (APAC) Fraud Survey 2017, revealing that despite wanting to work for ethical organisations, 17 per...

  3. 'Get frustrated' to be innovative, accountants told

    to the Innovator of the Year at the Australian Accounting Awards this year. After accepting the Innovator of the Year award last Friday on behalf of O'Connells OBM, director Adam Dierselhuis, spoke to Accountants Daily about the importance of innovation...

  4. Bookkeeping firm set for nationwide expansion

    of the Year, partner Jamie Davison said that he expects the bookkeeping industry to continue evolving as it has been for the last few years. Mr Davison believes the bookkeeping industry will become “more advice driven and proactive in interpreting the...

  5. ATO outlines plans for systems during tax time

    by the confirmation from the Commissioner Chris Jordan AO yesterday that the system outages earlier this year and late last year were hardware related, and that the ATO has reached a commercial settlement with Hewlett Packard Enterprises (HPE). “We've...

  6. Intangible risks demand business resilience

    risk and reputational risk mean both accounting firms and their clients need to develop robust crisis management processes. Last week, BDO released the results of its Global Risk Landscape 2017 Survey in a report revealing that cyber risk is the main...

  7. Banks’ commitment to unfair contract legislation a win for SMEs

    contracts. “While the IPA was pleased with the passing of unfair contract legislation which has been in place since November last year, much work is required to enforce current practices which still see unfair clauses in contracts with small business,”...

  8. CPA Australia bosses reveal salaries, announce leadership change

    each director of the association and its subsidiary, CPA Australia Advice, for 2016. In a communication to members released last night, seen by Accountants Daily, the president and chair of CPA Australia, Tyrone Carlin, announced he has handed over his...

  9. Unis called on to teach soft accounting skills

    the accounting profession, and is calling on universities to work with industry bodies in developing more relevant courses. Last week Dean Sammut from MMT Accountants and Advisors was awarded Rising Star of the Year at the 2017 Australian Accounting...

  10. CPA boss knocks back ‘abject failure’ claims

    As of May 29 this year, 25 members are authorised under the CPA Australia Advice licence, an increase of 14 since October last year. Speaking to Accountants Daily, Mr Malley said the early stages of take-up are in line with expectations, and that he had...

  11. Progress on payment time legislation applauded

    ongoing incentive to reinvest in their businesses; which extends the economic benefit of growth and the capacity to employ.” Last week the Business Council of Australia introduced a voluntary code of conduct for big business payment times to small...

  12. Major accounting body flags 'next disruptor'

    business environment. “We think that purpose itself has the potential to be a disruptor, similarly to technology over the last few years, similarly to environmental things that have been in place for more than a decade now,” Mr Carpenter said. “We feel...

  13. Mid-tier warns on financial reporting changes

    announced revisions to the new financial reporting arrangements for residential aged care and home care package providers. Last year, it was announced that new financial reporting arrangements for residential aged care and home care package providers...

  14. ‘Complex’ case sees tax fraudster convicted

    in fraudulent BAS statements. Hightrade executive Song (or Peter) Chang was sentenced to five and half years in jail late last week. According to a statement from the ATO, between 2002 and 2007, Mr Chang conspired to defraud the Commonwealth of $10.5...

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

  15. ATO ups crackdown on holiday homes

    out taxpayers making incorrect claims for deductions on rental properties, and holiday homes in particular, this tax time. Last year, the ATO identified a large number of mistakes with deductions for rental properties, particularly with regards to...

  16. High-profile KPMG exec retires from partnership

    could remedy their property woes by spending less on “smashed avo” and cafe-style meals. The comments, made in October last year, effectively took broader aim at the lifestyle choices of millennials. “From smashed avos, to sea-changes, to man droughts,...

  17. ATO set to shake up communication with industry

    outages it experienced in December 2016 and February 2017, following commissioner Chris Jordan releasing some of the results last week. The report includes findings from the ATO’s internal review as well as the independent review conducted by PwC, which...

  18. National accounting survey finds M&A ‘back on the radar’

    less than one in five respondents were happy with their practice’s client retention and growth rates — a major decline since last year, when that figure was 41 per cent. To tackle growth objectives, 50 per cent of respondents had segmented their client...

  19. Accountants set to lobby employers for pay rise in 2017

    as the basis of their negotiation. “Provide proof of your successes and any additional duties you’ve taken on since your last pay rise,” he said. “Show your manager how valuable you are and back up your request with evidence of current market salaries.”

  20. Accountants reject AFSLs despite SMSF push

    during the three-year transition period of July 2013 to July 2016. A further 66 per cent of applications were made in the last four months of the transition period, and 38 per cent of applications were lodged in June 2016. ASIC has publicly and...

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