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  1. KPMG shakes up retirement age policy

    by the big four that force partners out of the door earlier than they might want to. KPMG launched the review in August last year, but stood by it as recently as the month before, saying that partners are aware of the clause when they join and are...

  2. Wage Theft: Don’t be an unwitting contributor

    to know. While proposed wage theft reforms did not make it into the Federal Governments industrial relations bill passed last month, it would be impossible to argue that wage theft is not an ongoing issue in Australia. Analysis from PwC released in 2019...

  3. Charities watchdog flags financial reporting errors across the sector

    of AISs and accurate annual financial reports is an important way for a charity to present itself.” Among the errors up from last year were submitting an AFR type, with just 66 per cent selecting the correct type of AFR, down from 68 per cent in the...

  4. ASIC extends COVID-19 record of advice relief

    said in a statement. The record of advice relief measure was rolled out as part of a three-pronged relief package in April last year. The suite of measures enabled registered tax agents to give advice to existing clients about early access to...

  5. Xero scores subscriber surge despite slowed revenue

    falling short of analyst estimates by 20 per cent. The company reported a revenue increase of NZ$848.8 million over the last 12 months, making a profit of NZ$19.77 million for the year, up from NZ$3.3 million the year before. Xero recorded record...

  6. ‘Overconfident’ taxpayers warned to approach tax time with caution

    have included focuses on working-from-home expenses, and a renewed approach to monitoring crypto asset reporting. The ATO last week warned that it would write to about 100,000 taxpayers to alert them to their tax obligations amid growing concerns that...

  7. EY announces 40 partner promotions

    and seven were from its strategy and transactions business. The announcement follows 31 internal promotions made in October last year, and another 30 admitted as lateral or direct admit partners this year, in a bid to expand the skills and experience...

  8. ‘A warning to employers’: Victorian wage theft laws commence 1 July

    says one peak body. The new laws, which made Victoria the first state to criminalise wage theft when they were announced last year, will see employers who withhold a range of entitlements face fines of up to $198,264 for individuals, $991,320 for...

  9. Accountants champing at the bit to unlock NSW support payments

    Scott Morrison said it was modelled on the cash flow boost that was introduced at the start of the COVID-19 pandemic last year, which saw $35.5 billion paid out to over 800,000 businesses. However, unlike the cash flow boost, the new measure will be...

  10. Lockdowns to force economy into reverse, says Business Council

    they are for longer than 100 days, the Australian economy could plummet to productivity lows recorded through the worst of last year’s recession. Business Council chief executive Jennifer Westacott said that, while vaccination “remains our best...

  11. Deloitte scraps partner retirement cap

    longer be expected to retire once they turn 62. Deloitte Australia chief executive Adam Powick told the firm’s partnership last week that partner succession will in future be handled on a case-by-case basis, doing away with a long-standing informal...

  12. JobKeeper transparency bid slapped down by the House

    $12.5 billion in JobKeeper payments were made to businesses that didn’t record a shortfall in revenue between April and June last year. The PBO also found that $4.6 billion was paid to 157,650 firms whose turnover actually increased over the same...

  13. The Access Group acquires cloud payroll and HR platform

    customers and partners to The Access Group,” Mr Agiasotis said. “This acquisition marks the fourth for the company in the last two years and demonstrates The Access Group’s intent for being recognised as a leading business software provider across the...

  14. $13bn in JobKeeper pocketed by profitable businesses

    $12.5 billion in JobKeeper payments were made to businesses that didn’t record a shortfall in revenue between April and June last year. The PBO also found that $4.6 billion was paid to 157,650 firms whose turnover actually increased over the same...

  15. ATO hits pause on ‘firmer’ tax debt collection

    however, has confirmed that it will not implement a universal pause on all compliance work, a departure from its position last year where it halted all debt and lodgement campaigns in light of the COVID-19 pandemic. “We have not halted our debt and...

  16. Pandemic dampens career opportunities for women, exacerbates pay inequity

    Women with children will likely bear long-lasting career impacts as a result of the pandemic, new research shows, as they face reinforced gender roles and a pay gap exacerbated by the pandemic. New research released by RMIT last week shows that working...

  17. Federal Court imposes order on unregistered agent

    on behalf of her clients, as the TPB ramps up investigations into unregistered tax advice. Federal Court Justice McKerracher last week ordered unregistered tax agent Jessa Van Stroe, a.k.a. Jessa Layola, from preparing or lodging tax returns on behalf...

  18. PKF announces 3 senior promotions

    The mid-tier network has announced the promotion of a new partner and two new principals in its Newcastle outpost. PKF last month announced the promotion of Hanna Barry and Jackie Marriott, both of the firm’s business advisory team, to principal,...

  19. Financial adviser numbers hit 5-year low

    in Australia as of 30 June 2021, the first financial year since 2015 that ended with numbers falling below 20,000. In the last year alone, the number of advice licensees fell from 2,125 to 1,907, a 10 per cent decline, with advisers that are part of a...

  20. Accountants urged to take advantage of gig economy

    of Platinum Accounting Australia and Platinum Professional Training, said the “monumental shift” in employment over the last two years has seen many Australians turning to the gig economy and contracting work. This, she flagged, is presenting ample...

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