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  1. September CPI means another rate rise on the cards, observers say

    inflation already heavily suppressed by recent cash rate hikes, persistent services inflation remains a key driver of the last 3 per cent that the RBA needs to squash to achieve its target.” “Raising the cash rate would depress demand, soften the labour...

  2. CA ANZ members approve tighter conduct rules

    the findings of a review of conduct rules prompted by CA ANZ’s widely criticised response to the KPMG cheating scandal last year, which involved hundreds but resulted in sanctions on just eight unnamed members. This year the PwC tax cheating affair has...

  3. 75% of shoppers to scale back Christmas spending, PayPal says

    18 and 75 found that the percentage of respondents intending to buy less this Christmas rose by 35 per cent compared to last year when inflation and interest rates were less prominent. But while the vast majority of shoppers said they would be cutting...

  4. Business owners are seeking exits without a plan, survey finds

    process.” The report found that two-thirds of business owners have not had their business independently valued in the last three years, and 20 per cent of business owners who wanted to sell did not know who their likely buyer would be. “A lack of...

  5. Aldi to face $150m wage theft class action suit

    FY 2020-21 that it increased its revenue from $9.6 billion to $10.7 billion. In April, Aldi reported that its sales in the last quarter of 2022 were up 13.2 per cent year-on-year, as consumers switched to the discounter to save money amid higher living...

  6. Tax agents hit with ‘petty’ ATO list of old debts as little as 4c

    off, say frustrated tax agents alarmed at the amount of extra work it has created. In a letter to some 28,000 tax agents last week, the ATO said it would offset clients’ tax refunds or credits against debts on hold that had been written off as...

  7. Prosperity Advisers acquires Brisbane firm to expand SME business

    has 20 partners and 180 employees across its three offices in Sydney, Newcastle and Brisbane. P+Y began talks with the firm last year, according to P+Y partner David Pennell. Mr Pennell, alongside partner Brenden Yantsch and 11 employees were set to...

  8. ATO pursues former EY partner for alleged tax exploitation scheme

    will continue to take serious action against anyone who attempts to exploit or undermine the integrity of the tax system.” Last month in response to the PwC tax secrets scandal the government filed draft legislation that includes substantially increased...

  9. Insolvency Australia sets up helpline for distressed businesses

    ASIC shows 2,494 companies went insolvent over the first three months of FY24, a 22 per cent increase on the same period last year. That figure includes almost 300 food and accommodation businesses and almost 900 construction companies, with...

  10. ASIC scam-buster tech blitzes thousands of dodgy websites

    better awareness, and less financial losses.” He said the NASC had reported a decline in losses to investment scams over the last quarter and ASIC said most of the 2,100 investment scam websites disrupted had been fake investment platforms appearing to...

  11. Acquisition-hungry Count buys Canberra accounting boutique

    deals included the purchase of accounting boutique Affinia for $3.4 million in May and Addvantage for an undisclosed sum last year. Meanwhile, on Wednesday, insolvency firm Cathro & Partners also announced expansion plans by opening a Melbourne office...

  12. Accountants ‘should cull one-third of their clients every year’

    to look at other opportunities,” he said to accountants and bookkeepers at Intuit’s annual Get Connected event in Sydney last Thursday. “When you first start up a firm, you're trying to grab as much business as you can that comes through your door. Over...

  13. Seamlss adds client-linking feature to onboarding software

    He said the agent-linking update came baked into Seamlss as a part of the app at no extra costs to subscribing firms. Last month, the ATO responded to concerns about the six-step linking process by expanding the window for clients to nominate agents...

  14. RBA move a ‘kick in the guts’, but few surprised

    likely to slow demand in the sector further.” Employment Hero said the RBA decision would hit seasonal hiring compared to last year as consumer confidence plumbed fresh lows. CEO Ben Thompson said the RBA had the power to make or break Christmas for...

  15. DSS launches ‘first cloud-based platform’ to simplify client billing

    previous software products, using technology from cost recovery software firm Softlog Systems, which DSS acquired in July last year. “We’ve taken our cloud platform and then supplemented it with Softlog’s decades of technology to enable accountants to...

  16. Why business leaders need to talk about menopause

    said. “It was so profound when I started getting me back again.” Her experience prompted her to conduct research over the last 12 months into how women define success, and the barriers they face in achieving it. She said numerous women have shared...

  17. ASIC exposes dozens of dodgy investment websites on blacklist

    to address online fraud and supported the work of the new National Anti-Scams Centre (NASC), which opened in July. Last week ASIC revealed that since July its scam-buster technology had disabled 2,100 fake investment websites mainly offering high-risk...

  18. ATO targets utes in myth-busting FBT mission

    that the final five draft legislative instruments that implemented changes to FBT record keeping were released by the ATO last month. The changes followed a law that gave the Commissioner the power to allow employers to rely on alternative records to...

  19. PwC to cut 300 jobs, close Adelaide support hub

    cuts were 75 staff unable to join Scyne Advisory, the reborn government consulting arm of PwC, who were put on leave last week. A total of 1,300 staff and 100 partners would move to Scyne Advisory. “We attempted to find alternative positions for these...

  20. Why Division 296 sets a stressful precedent

    relating to structured settlements, child recipients of superannuation income streams and individuals who die before the last day of the income year. As a result, an individual who dies on any day from 1 July to 29 June of an income year is not subject...

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