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  1. CPA Australia outlines next steps in KPMG misconduct investigation

    investigation and disclosure to regulators, including the US Public Company Accounting Oversight Board (PCAOB), and ASIC. Last month, Chartered Accountants Australia and New Zealand said it too was monitoring the fallout. “This is an ongoing matter, we...

  2. Board of Taxation sees 2 new members

    of Taxation. Andrea Laing and Anthony Klein have been appointed part‑time members of the Board of Taxation. Their terms will last for a three‑year period. Ms Laing brings a wealth of experience to the board, having gained considerable in-house...

  3. Accountants’ perceptions post-lockdown revealed

    to sectors which may take longer to recover. It would be a shame for businesses to hang on this long only to fall at the last hurdle because governments withdrew support too fast.”

  4. ‘Baseless and reckless’: ATO flags concern on legal professional privilege claims

    most taxpayers provide voluntarily.” Mr Jordan also used the opportunity to point to the ATO’s draft LLP protocol, released last month, that sets out its recommended approach to identifying communications covered by LPP, and the level of detail required...

  5. FASEA September test pass rate remains low

    all financial advisers who have yet to pass the exam the option to sit the November exam irrespective of the timing of their last sitting. Financial advisers were previously only allowed to register for the next exam sitting three months after their...

  6. Accountants ‘insulted’ by Victoria’s 11th-hour vaccine backflip

    the Victorian government over what they’ve termed a disgraceful eleventh-hour backflip on mandatory vaccines and work. Late last week the Victorian Department of Health confirmed to Accountants Daily’s sister brand, ifa, that accountants and financial...

  7. Wage underpayment issues continue

    and Mr Kent said the ATO’s “stricter approach” to FBT interpretation is something for practitioners to be wary of. “The last few months has seen the ATO finalise its approach to a number of long-standing issues that have previously been on this...

  8. Shift in mindset needed for accountants post-pandemic

    There’s a huge amount of money that needs to be paid back to the tax office that the tax office didn’t chase up over the last two years. Being involved in that tax flow planning is going to be a critical role that accountants play. “They’re going to...

  9. On behalf of Intuit QuickBooks, we would like to wish you a Happy International Accountants Day!

    $45.3bn in value (savings and profits) from their relationships with their accountants and bookkeepers (advisors) in the last year. Through hard times we have seen advisors step up to the plate, and their role in supporting the small business economy in...

  10. 3 steps to implementing a new process automation before your Christmas closure!

    and you’re no doubt looking forward to some much-needed R & R. Don’t take your foot off the pedal just yet though, these last few weeks before Christmas are a great time to review your systems and implement some quick-win projects that will make your...

    • Type: Article
    • Author: Business Automations Works
    • Category: Technology

  11. Why Peak Chartered Accountants are so tech-positive

    up so much RAM on our hosted server solution that the system would begin to grind as the day went on. Then during lockdown last year in April, I recognised we were in a hybrid situation where we didn’t need to be working through a centralised service....

  12. How Aussie business spending patterns changed during the pandemic

    at spending patterns of over a million customers around the world to determine the health and habits of firms during the last 18 months to see how they responded to the pandemic. Included in this study is the Australia Business Spending Report that...

  13. Pandemic pushes long-term unemployment to new peak

    the record highs seen following the 1991 recession. As the Australian economy gears up to recover from the lockdowns of the last six months, ACOSS noted that the chances of people who are on income support finding work tend to fall the longer they’re...

  14. Get set for success in 2022

    than they usually do, due the pandemic’s negative effect on many businesses. “ATO planning is cash flow planning. The last couple of years, accountants and bookkeepers have advised clients to keep their lodgements up to date or be really upfront in...

  15. Cryptocurrency Tax FAQ’s

    overall position at the end of the financial year. For example, if your client doubled their money and closed their position last financial year, but got their entire holdings liquidated this financial year, they will still need to consider taxes on the...

    • Type: Article
    • Author: CryptoTaxCalculator
    • Category: Tax

  16. Low and middle-income tax offset could be extended

    year to help lower income earners who are still struggling financially because of the pandemic,” Ms Kasapidis said. “The last time the LMITO was extended, it formed part of the 2020-21 budget announcement. This time around it may become an election...

  17. CountPlus reappoints CEO

    its business and focus resources on tax and business advisory services. The firm’s Western Australian outpost was the last CountPlus member firm to offer audit services, said newly appointed Bentleys WA managing director Fab Fanayan at the time....

  18. APAC e-commerce payments to increase 17%

    payment methods like cash and cards,” the group said. “The APAC e-commerce market has been growing at a robust pace over last few years supported by rising Internet and smartphone penetration, growing middle class population and tech-savvy millennials....

  19. Hume warns super funds tapping into members’ money to ‘save their own skins’

    which may need to fund a separate reserve of trustee capital to meet any potential fines or penalties issued by regulators.” Last month, the Supreme Court of Queensland declared QSuper could impose a new fee on members in order to pay any regulatory...

  20. Why now is an opportune time for accountants

    over the next few years – my guess is that future data will show us that many zombie companies have been lurking for the last two years." Going forward, Mr Withane said he expected accountants to see more clients in need of restructuring and turnaround...

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