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  1. Tax office tipped to release new ruling

    Colonial First State executive manager Craig Day said that following the issue of a private binding ruling by the ATO last year, allowing the use of this strategy, it is likely the tax office will now be dealing with a large number of private binding...

    • Type: Article
    • Author: Miranda Brownlee
    • Category: Tax

  2. Quantification of things and the 'Reporting Wars'

    all good, but I couldn’t see a clear market leader emerging. I call this fight for market dominance the ‘reporting wars’. Last year I wrote an article on the Quantification of Things. It was basically my wish list for management analytics of the future....

  3. Reckon positive despite NPAT drop

    finding success in an industry that is ripe with change and disruption. “We’re really proud of what we’ve delivered over the last 3 or 4 years, especially over the last 12 months, and then to have these results back it up only confirms that we’re on the...

  4. Accountants risk forgoing licensing until 2019

    applications have been submitted, with only 31 per cent of applications granted. “Some accountants are waiting until the last minute to lodge their licence application, but there are risks to this approach,” Ms Lumsden Kelly stated. “If you don’t lodge...

  5. Short Term Loans - Exits 101

    or for loan continuity on revised terms should be explored. Formal default and legal proceedings really should be a lender’s last resort. A case study Quantum Credit had set a 6 month loan for $1.5m on a commercial mortgage in WA and the exit was to be...

  6. ATO warns on poor asset records causing SMSF breaches

    personal debts because they were not recorded correctly. Speaking at the SMSF Association’s national conference in Adelaide last week, ATO assistant commissioner Kasey Macfarlane said it is important fund assets are clearly distinguished as such, and...

    • Type: Article
    • Author: Miranda Brownlee
    • Category: Super

  7. Hayes Knight network disbands

    citing a fractured business model and a misalignment of strategy. According to Mr Hayes, agreements were finalised last week, with the Sydney office continuing to operate under the Hayes Knight brand, and the Adelaide, Brisbane and Melbourne offices all...

  8. AAT unveils 29 further appointments

    Appeals Tribunal, including two new deputy presidents. Attorney-General George Brandis QC announced the 29 appointments last week, following nine appointments that were made last month. Professor Bernard McCabe and James Walsh have both been appointed...

  9. CPA reveals details around licensing offer

    a game changer for financial advice in this country." The announcement was met with both criticism and support. Also in June last year, former FPA chair John Hewson told AccountantsDaily sister publication ifa that the new entrant was taking advantage...

    • Type: Article
    • Author: Linda Santacruz
    • Category: Regulation

  10. Xero announces change to leadership team

    Currently based in New Zealand, Mr Norton will return to his home in Seattle. Mr Norton joined Xero from Microsoft last year. Xero CEO Rod Drury thanked Mr Norton for his efforts at the software provider. “We are sincerely grateful to Angus for his...

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

  11. Litigation likely with new LRBA structures

    non-commercial terms, with any mistakes likely to lead to significant expense and potential legal action. The ATO confirmed last year it expects trustees to have borrowing arrangements on commercial terms by 30 June this year, and released guidance last...

    • Type: Article
    • Author: Miranda Brownlee
    • Category: Business

  12. NAB makes LRBA play

    said the bank is looking to more actively promote the product in the marketplace. "This product has played a role for the last four years within our business. But as the landscape is shifting […] we’re having more conversations about this product than...

    • Type: Article
    • Author: Katarina Taurian
    • Category: Business

  13. SME lending reaches record high

    report by the Australian Bankers’ Association (ABA), banks approved approximately $88 billion in new small business loans last year, up from $77 billion two years ago. The report found almost nine in every 10 small businesses said they do not see access...

    • Type: Article
    • Author: Emma Ryan
    • Category: Business

  14. Australia a hotspot for economic crime, warns PwC

    to a recent PwC survey. The study revealed 52 per cent of Australian organisations experienced economic crime in the last 24 months compared with the global average of 36 per cent. According to the Australian edition of PwC's 2016 Global Economic Crime...

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

  15. Grant Thornton nabs new partner from PwC

    looking forward to being part of our clients’ growth journey." My Savage is the firm's eighth lateral partner hire in the last 12 months with the firm clearly attempting to broaden its skill set through experienced hires. Grant Thornton has also...

    • Type: Article
    • Author: Michael Masterman
    • Category: Business

  16. Businesses, accountants urged to get prepared

    in the previous year. Oneflare CEO Adam Dong said that a staggering number of people and businesses are leaving it until the last minute to get financial guidance for tax time. "Although many businesses work with bookkeepers or accountants on a monthly...

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

  17. Two jailed for serious tax fraud offences

    successful investigations under the Serious Financial Crime Taskforce (SFCT). Former financial adviser Jeffrey Conklin was last week convicted in the Sydney District Court for tax fraud offences totalling more than $700,000. He was sentenced to five...

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

  18. Submissions now open for Australian Accounting Awards 2016

    Awards, partnered by Reckon, have been developed to recognise excellence right across the accounting sector. The response to last year’s event was "staggering", according to AccountantsDaily publisher Terry Braithwaite. AccountantsDaily received a...

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

  19. Pitcher Partners eyes further global growth

    said. "We recently did a survey of M&A work, and I think about 40 per cent of all M&A work in the Australian middle market last year involved overseas players, so you’ve got to be a participant. You’ve got to build a capability and you’ve got to...

  20. Industry award provides kick-start for new firms

    recognition to help businesses attract quality staff and clients. The recipient of the New Firm of the Year award in last year’s Australian Accounting Awards, Sovereign Private, said it has given the business further validation among its client base....

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