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  1. Big 4 firm bullish after new platform launch

    its new blockchain platform, one big four firm is confident its moves will benefit both the firm and its mobility clients. Last week EY announced the launch of Tesseract, an integrated mobility platform underpinned by blockchain technology. “Tesseract...

  2. Understanding the implications of STP

    time, even years before this can happen. Eventually, we will simply tick “final payrun” and the figures will be reported as last figures (or payment summary) to the ATO. What if I make errors or need to change a pay that has already been reported?...

  3. New workplace laws get regulator’s nod, up penalty price tenfold

    pay slips to workers, or provide the Fair Work Ombudsman (FWO) with false information or documents. FWO noted that last financial year, two-thirds of its court cases involved alleged record-keeping or payslip contraventions with nearly one-third...

  4. National accounting network adds new firm

    beginning of this calendar year, and chair of Walker Wayland Paul Hilton said the network has been eyeing the firm for the last couple of years. For Walker Wayland, the addition expands their reach in Western Australia, where it didn’t have any presence...

  5. ATO, mid-tier flag compliance risks in clients' claims

    economy by the ATO, one mid-tier manager has urged accountants to dig a little deeper into their clients’ activities. Last week the ATO updated its guidance on the tax obligations of the sharing economy, reminding its participants that they must declare...

  6. Mid-tier hits out following contentious state budget

    state budget, concerned that key proposals could have a negative impact on business in the state and in turn, clients. Last week, the Western Australia government released its state budget which included three changes which Leon Mok, managing director...

  7. CA pushes govt to fix compliance burden for accountants

    of business registers, citing anti-fraud benefits and the potential to reduce paperwork and process for accountants. Last week, Chartered Accountants Australia and New Zealand’s (CA ANZ) tax leader, Michael Croker, made a submission in response to...

  8. National network set for aggressive acquisition launch

    H&R Block confirmed to Accountants Daily it has set its fee acquisition target at $2 million for this financial year. In the last three years, H&R Block has acquired 10 independent practices, totalling about $3 million in fees. The network will be...

  9. Mid-tier criticises tax consolidation legislation

    draft tax consolidation legislation that will “disadvantage” companies that have been consolidated since 1 July 2016. Last week the Minister for Revenue and Financial Services, Kelly O’Dwyer, released the Treasury Laws Amendment (2017 Measure No. 9)...

  10. New legal protections a win for accountants, says big 4 firm

    protections and has highlighted the role that accounting firms can play in encouraging whistleblowers to come forward. Last week the parliamentary joint committee on corporations and financial services released a whistleblower protections report,...

  11. Accountants' loophole in regulator's sights

    services without a licence on the basis that it was ‘execution only’ is a risky move that could land them in more trouble. Last week, ASIC distributed letters to unlicensed accounting firms after analysing their advertising and corporate websites,...

  12. Australian alt-fi market growing finds big 4 firm

    introduction of legislation to parliament to enact the extension of crowd-sourced equity funding to proprietary companies last week. However, RSM raised doubts about the new fundraising approach and the conditions of eligibility.

  13. KPMG argues against 'significant' cost increases in super insurance

    finding that tax on insurance payments outweigh the costs of tax concessions provided to group insurance in superannuation. Last week KPMG released its report into the costs and benefits of default group insurance in superannuation, which was prepared...

  14. Sluggish stats call for ‘bold, decisive’ action in accounting

    year. This represents a 0.1 per cent increase compared to the 25.3 per cent representation for the same reporting period last year, and is well short of the AICD’s 30 per cent target. Similar patterns exist in the accounting profession, most notably...

  15. BAS, payroll still major pain point for Aussie firms

    SME business owners, which show that support for the federal government increased to 26 per cent, up from 20 per cent in the last survey. Despite this, 64 per cent are looking to the government to reduce red tape, simplify reporting processes and...

  16. Male accounting execs facing leave stigma

    in the accounting industry around men taking extended leave when their child is born. “There's been an evolution over the last decade where maternity leave for women has been very much highlighted as a benefit, but I think men are still worried about...

  17. Calls for mandatory SMSF qualifications post-reform

    own specialist service line. "We were so busy leading up to June just giving this very tailored advice. I'd have to say that last year it was easily the most disruptive... nine months in at least 10 years, probably even 20 years of me actually doing...

  18. Less tax for companies on the cards, says mid-tier

    passive investment companies, they may be eligible for the lower rate in the future according to a mid-tier accounting firm. Last month the government released draft tax legislation for public consultation clarifying that passive investment companies...

  19. ASIC may ‘come knocking’ despite exemption, accountants told

    shadow shopping and compliance activity. Speaking at a Chartered Accountants Australia and New Zealand (CAANZ) conference last week in Sydney, The Fold Legal solicitor director Jaime Lumsden Kelly said ASIC would “come knocking” if the regulator became...

  20. Lodgement performance may take a hit: ATO

    ability to meet deadlines. The tax office said it appreciates that the extensive digital outages, which began in December last year and spanned well into early 2017, would have impacted the ability of tax professionals to meet their clients’ obligations...

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