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  1. Demand lifts in 2017-2018 for short term finance to cover crises

    Morello said “Many of the clients who come to us are experiencing very oppressive conditions placed on their loans at the last minute, which simply can not be met. “For example we have just provided a $13 million loan, secured via a first mortgage,...

    • Type: Article
    • Author: NWC Finance
    • Category: Business

  2. ATO boss doubtful of ‘low complexity, high volume’ practices

    priorities for the ATO, Mr Jordan told delegates at the Institute of Public Accountants’ National Congress on the Gold Coast last week. This promise follows another shaky year for the ATO’s digital systems, with the tax and BAS agent community dealing...

  3. Global accounting exec pushes NZ moves on Aussie leaders

    than an ad hoc approach.” Instead, Mr Roy-Chowdhury suggests Australia looks across the Tasman for inspiration, where just last week, New Zealand released the goals and leadership of its Tax Working Group (TWG), aimed at analysing its tax system. “The...

  4. A 'win-win' deal: Reckon confident post-sell off

    sale of its accountants practice management division will enable it to have a “laser-like focus” for its product base. Last month, Reckon announced the sale of its accountants practice management division to accounting software provider MYOB in an...

  5. Accountants in driver’s seat as wealthy clients’ 2017 patterns revealed

    with over $1 million in investable assets outside of their own home, business and non-SMSF super, up by 2 per cent over the last 12 months following two consecutive years of decline. Speaking to Accountants Daily, Investment Trends senior analyst King...

  6. ‘Residual risk’ of ATO systems failure still stands, says PwC

    the big four firm to investigate the outages. Accountants Daily understands the ATO has had the final report since October last year, and initial findings since May last year. Portal downtime and degraded performance was felt by tax professionals well...

  7. Aussie, European accounting networks team up

    without a merger. DFK International launched a “strategic alliance” with UK-based accounting network AGN International last week, after several months of negotiations late last year. The two businesses will remain separate entities, but will share...

  8. Big 4 tells accountants to brace for #MeToo movement

    a big four firm is warning accountants to understand their liabilities and responsibilities in the workplace. Since last year, there has been a groundswell of support for the #MeToo movement on social media, which aims in part to expose sexual...

  9. ATO issues fresh email scam warning as fraud spikes

    victim to a dodgy email, but similar scams involving fake emails from ASIC almost fooled some SMSF and advice professionals last year. This latest scam alert follows email scams from March to September 2017, and a phone scam alert in December last year....

  10. MYOB plans for ‘exponential’ growth in loans arm

    of a discount. The big picture The marketplace of alternative lenders in Australia has become increasingly populated in the last five years, coinciding with banks tightening their loan conditions in response to regulatory demands. You can read more...

  11. PwC weighs in on tax reform debate as CEOs push Australia aside

    claiming they are “very confident” in their own organisation’s growth prospects over the next 12 months, up from 38 per cent last year. The survey, which interviewed approximately 1,300 leaders from 85 countries, found that a number of factors driving...

  12. New data breach laws, penalties land today

    that fail to comply with the notifications rules risk being fined up to $360,000 and $1.8 million respectively. Late last month, the Australian Small Business and Family Enterprise Ombudsman, Kate Carnell, said she’s concerned businesses aren’t aware of...

  13. Corporate insolvencies tumble despite a rise on the personal front

    year. The drop in corporate insolvencies mirrors the Australian Securities and Investments Commission (ASIC)’s report late last year, showing a “material decline” in statutory reports lodged by external administrators last financial year. The...

  14. Most banks looking to robo-advice as ATO warnings released

    product personalisation, followed by open banking, and paperless trading. This news follows a statement from the ATO late last week, suggesting claims made by robo-advisers to accountants might be misleading. In a website update, the tax office said...

  15. Flexible work seen as ‘career limiting,’ big 4 firm finds

    parental leave. Pilot Partners associate director Thomas Paul, who returned from paternity leave in the second half of last year, recently told Accountants Daily that despite paternity leave packages being increasingly available to men, there are still...

  16. ‘We’re all responsible’: accountants called to lead change in pay parity

    that the number of ASX 200 companies which have no women around the board table now stands at only five, down from 14 last International Women’s Day. “Today’s report reveals that 2018 has seen the highest rate of female appointments to ASX 200 boards...

  17. ATO issues fresh bitcoin warnings as scams surface

    office had identified fraudsters demanding bitcoin or other cryptocurrencies as a form of payment for fake tax debts late last year. “We became aware of scammers seeking payment in bitcoin last year. So far we have seen over $50,000 paid in bitcoin to...

  18. STP implications for 2018 returns

    tax agents have been able to rely on the paper PS, which was often given to the employee within a few days of the last pay for the year. For instance, if the last fortnightly pay was on Thursday, 21 June, the PS might be handed out on Monday, 25 June,...

  19. Tax office releases new cryptocurrency updates

    that may arise through profits derived from cryptocurrency investment,” an ATO spokesperson told Accountants Daily late last month. The ATO will be using its existing and standard processes to address unexplained wealth and “conspicuous consumption”...

  20. Government, ATO cash blitz tipped to raise $5bn

    may be substantially greater. Other taxation revenue for the states and territories would be a further natural consequence.” Last year, the government’s Black Economy Taskforce released a consultation paper detailing potential policy ideas to stamp out...

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