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  1. Budget 2017 analysis: A wrap of the key revenue measures for accountants and their clients

    Several revenue measures have been introduced by federal treasurer Scott Morrison last night, and they have a direct impact on Australian businesses and taxpayers. The major revenue measures announced in the budget included: - a new major bank levy...

    • Type: Article
    • Author: Thomson Reuters
    • Category: Tax

  2. Xero confirms senior management change

    After mounting speculation last week, Xero has this morning confirmed that one of its senior managers has handed over his responsibilities internally. Xero’s chief platform officer, Duncan Ritchie, is handing the responsibilities of his role to Tony...

  3. ATO reaches settlement post-crash, releases report findings

    tax professionals, as the Commissioner confirms a settlement has been reached with Hewlett Packard Enterprises In December last year, the ATO’s digital systems experienced what Commissioner Chris Jordan named the “worst unplanned system outage in recent...

  4. Prime acquires Queensland accounting firm

    Matthew Smith and John Driscoll will become equity partners in Prime. “Altezza is an innovative firm – as shown by its award last year – and Prime is at the forefront of innovation in the advice sector,” said Simon Madder, managing director and chief...

  5. Survey reveals how Australians rate accountants

    has revealed that the percentage of Australians that rate accountants as being ethical and honest has dropped slightly from last year, but they still maintain a strong position when compared to other financial-related professions. Yesterday, Roy Morgan...

  6. Mid-tier reminds on budget announcements impacting tax time

    mid-tier accounting firm has reminded accountants and their property investor clients on measures introduced in the budget last month that will impact tax time 2017. As the end of financial year approaches, BDO tax partner Mark Molesworth has reminded...

  7. ASIC on the home stretch with accountants’ licences

    After a significant bottleneck last year, the corporate regulator has distributed a number of draft limited licences to accounting firms and is currently working through outstanding requirements with the remaining applicants. An ASIC spokesperson...

  8. Virtual CFO firm locks in first two franchisees

    Sequel CFO has followed through on plans announced in December last year to expand through the franchising of its business with the launch of its first two franchisees. Sequel CFO has confirmed that Michael Little and Kevin Jessup have joined the...

  9. National tax network eyes growth in bookkeeping arm

    known for its income tax services in particular, is eyeing growth in its bookkeeping service line after a soft launch last year. Though they didn’t make a “song and dance” about it as they have with other new service lines, H&R Block started a...

  10. ATO signals crackdown on popular deduction

    Australians claimed right up to the threshold that does not require detailed records to be kept of a popular tax deduction last year, prompting a closer compliance check this tax time. The tax office said it will be paying “close attention” to claims...

  11. Mid-tier firm gains new partner following merger

    appointment of a new growth advisory partner, who was the advisory board chairman of a consulting group which it merged with last week. Grant Thornton has welcomed Ian McCall as a partner in its Melbourne-based growth advisory team. Mr McCall was...

  12. ATO adviser urges bookkeepers: ‘don’t judge Simpler BAS’

    claims that Simpler BAS is “not as simple” might be missing the purpose of the changes to the detriment of their clients. Last week, The Bookkeeper published comments from Carbon Group which questioned whether the ATO’s introduction of Simpler BAS...

  13. Accountants’ data ‘very attractive’ as cyber breaches spike

    an attractive "attack group" given the type and volume of data they retain for clients, and a 15 per cent spike in attacks last financial year has widened the net to include mid-size firms. Earlier this week, the Australian Cyber Security Centre (ACSC)...

  14. Government cites bookkeepers in 'thriving' SME figures

    in the release of the latest Sensis Business Index, which has shown an uptick in small business confidence for the last quarter. According to the Index, which tracks the activity and confidence of about 1,000 regional and metropolitan Australian SMEs, a...

    • Type: Article
    • Author: Reporter
    • Category: Business

  15. Win for clients in ATO expenses backflip

    a popular meals expense after consultation with tax and industry professionals who opposed its initial removal. Late last week, the tax office confirmed it has reinstated the meal-by-meal approach for truck drivers who claim travel expenses for meals....

    • Type: Article
    • Author: Reporter
    • Category: Tax

  16. Small business slips on lodgement deadlines

    On-time lodgement slipped slightly for small businesses last financial year while debts owing spiked, prompting the ATO to consider new strategies to encourage compliance. In the 2016/17 financial year, 75 per cent of small businesses lodged their...

  17. Winners announced for NSW in inaugural awards

    with SuperConcepts, is pleased to announce the NSW winners for the SMSF and Accounting Awards. At a function in Sydney last night, winners for the inaugural, state-based SMSF and Accounting Awards were announced to a crowd of over 250 professionals. The...

    • Type: Article
    • Author: Reporter
    • Category: Business

  18. How small businesses will be affected by changes to family trusts tax

    from The Australia Institute suggests family trusts have assets of more than $3 trillion and a revenue of $350 billion last year alone. This isn’t surprising given the same report showed more than 21 per cent of Australia’s national income is funnelled...

  19. Accountants farewell 'biggest headache' of 2017

    Transitional CGT relief as part of the superannuation reforms that kicked in last year were amongst the pick for the “biggest tax and accounting headache” in 2017 by one industry lawyer. The reforms, which kicked in on 1 July 2017, included the $1.6...

  20. Software savvy grads a ‘prize catch’ in 2018

    Last year saw many universities exposed for their out-of-date accounting courses, giving graduates who go above and beyond with their software and IT knowledge a “good competitive edge” according to one software executive. Throughout 2017, major...

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