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  1. The skill drought dilemma: Pay up, or lose staff

    was a problem right across businesses, including accountancies, because they had little experience dealing with it. With the last sustained high-inflation period back in the 90s, “it’s a huge challenge for many business owners, not just small business...

  2. Skill drought forces accountancy to trial four-day week

    skill drought. “The intention was to have a happy team and have a great culture here, but as we’ve moved along, even in the last three to four months the labour shortage has gotten much worse and we’re really struggling,” said Ms Holden. “We can’t...

  3. Deadline looms for change to profit split rules

    service practices, will need to understand their risk profile under Practical Compliance Guideline 2021/4, released last December. It outlines the ATO’s approach to the allocation of profits or income from professional firms in the assessable income of...

  4. “SMSF Investment Strategies, don’t get caught in the middle!”

    webinar when we first ran it in May, that we will be revisiting the topic of SMSF Investment Strategies so if you missed out last time, here’s your chance to get up to speed with the ATO’s latest guidelines. DATE: Wednesday 13th July TIME: 2pm AEST...

    • Type: Article
    • Author: MyWorkpapers
    • Category: Business

  5. NSW property tax reform to cost $729m 

    duty was introduced to NSW in 1865 and it’s showing its age as an outdated tax which has stifled the property market in the last few decades.” In late 2021 Mr Perrottet outlined his views on stamp duty at a budget estimates hearing. “Stamp duty...

  6. ATO takes aim at ‘reckless’ claims of legal privilege

    that all other relevant documents have been provided,” Ms Saint said. Following the publication of a draft protocol last September, the ATO consulted with government agencies, the Big Four accounting firms and professional bodies including the Law...

  7. Profit-splitting professionals ‘in the dark’ over revised tests

    the ATO would choose to cast its compliance net after publishing PCG 2021/4, on the allocation of professional firm profits, last December. “Many professionals will still be unaware of these guidelines or at least unclear on whether, or in what way, the...

  8. APS adds myprosperity portal

    ahead in August and marks just the latest acquisition for the Access Group after it began expanding in the Asia Pacific last year. Reckon retains its business and legal divisions following the sale.

  9. ATO awards itself green ticks for performance

    requests, with just 85 per cent finalised within 15 business days against a target of 90 per cent – a mark it exceeded last year. However, in other respects the ATO’s investments in electronic lodgement capability appear to be paying off, with big green...

  10. 6 cash control tools every business should monitor

    acceptance of credit and debit cards, the need for petty cash should be just about zero. Where it is used, it should be a last resort only, and subject to strict rules about what it can and can’t be used for. It should be eliminated if at all possible....

    • Type: Article
    • Author: CashFlowMapper
    • Category: Business

  11. Former director charged with unlicensed advice offences

    services business is five years’ imprisonment, a fine of $126,000, or both,” said the corporate regulator. In March last year, Mr Bhandari was permanently banned by ASIC from providing financial services and engaging in credit activities, controlling a...

  12. GBST appoints Aussies to top roles

    Both have already commenced their new roles. GBST was acquired by Australian private equity firm Anchorage Capital Partners last December for $250 million from global financial services giant FNZ. The deal returned GBST to local ownership after only one...

  13. ANZ pulls out of MYOB purchase talks

    statement comes as the big four bank embarks on an equity raising to fund acquisition of Suncorp's banking division. Just last week, ANZ confirmed it was discussing the purchase of MYOB from KKR in a deal purported to be worth $4 billion. The accounting...

  14. ATO adds indebted sole traders to credit referrals

    to CRBs as a tool to influence businesses to take their debt seriously. “A lot of businesses treat the ATO as the lender of last resort so just don’t pay it,” he said. “When money becomes tight businesses just stop paying one of their creditors, and the...

  15. Angry members slam ‘shameful’ CA ANZ discipline secrecy

    five years, were widely known but ignored until an investigation in the US by the Public Company Accounting Oversight Board last year. “I’m surprised CA ANZ did anything – I assume the US investigation forced their hand,” said another anonymous...

  16. Queensland to slug landowners Australia-wide

    for the first time. The general manager of technical policy at the IPA, Tony Greco, said awareness of the measure, flagged last December and inked in the recent state budget, was low and most investors would be surprised by their next land tax bill. He...

  17. Can accountants break the 9-to-5 office habit?

    took some time at home to manage her children’s schedule on school holidays. The result? The most profitable week of the last six years with record billings. My team has seen and reaped the benefits of flexible working. Sure, it’s not always easy to be...

  18. Effective leadership the key to staff retention and attraction

    about the things that matter to them,” said Ms McAuliffe. “This has never been more true than during the uncertainty of the last two years.” “If leaders aren’t natural communicators, developing skills in this area needs to be a top priority.” HR...

  19. Outraged CA ANZ member plans AGM assault on board

    are believed to have been sent letters by the body raising sections of its professional code which they did not comply with. Last week just eight unnamed members were sanctioned and in response to criticism CA ANZ issued a statement in defence, reported...

  20. Two food outlets fined for underpaying casuals

    Judge Brown said. It is the second time the FWO has secured a penalty in court against Mr Andary following a $3,500 fine last year for underpaying another worker formerly employed at Valley Pizza. The FWO has also secured court orders for nearly $9,000...

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