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  1. Property still a big SMSF advice issue, says AFCA

    still continue to account for a sizeable portion of SMSF disputes, says AFCA. Speaking at a recent event, AFCA acting lead ombudsman, Shail Singh said that property investments in SMSFs continue to be one of the bigger dispute areas for SMSF advice. For...

  2. Brisbane food shops forced to back pay workers over $400k

    and matters with two businesses were ongoing. The ombudsman warned non-compliant businesses that any future breaches could lead to higher-level enforcement action taken by the body. The Brisbane audits came after the FWO conducted surprise inspections...

  3. Are you the ‘average accountant’? Census data gives up its secrets

    through from university, combined with the overall aging of the population. Insights to consider: An aging workforce can lead to large waves of workers retiring. The accounting industry should consider how to attract younger people to the profession to...

  4. Grant Thornton revamps executive team to target ESG

    and support the delivery of our strategic priorities,” he said. “This new executive will develop the capability of our leadership team and provide opportunities for different roles and challenges.” “In addition, a market opportunity has arisen in ESG...

  5. Insolvencies enter ‘unchartered waters’ during holiday break

    we will start to see further enquiries and more distress,” she said. The ATO cautioned against insolvency advice “that could lead to illegal phoenix activity” in an update last week. “Some insolvency advisers suggest actions designed to help directors...

  6. Small business must be ruthless over payments: CreditorWatch

    payments was starting to have a serious impact. “Trade receivables continue to decline and trade payments defaults, a lead indicator of insolvencies, are at their highest point since October 2020,” he said. “Small businesses are crying out for...

  7. Anxious Aussie FTX investors await creditor meeting for clarity

    cryptocurrency business has reignited calls for greater regulation of the industry and exchanges, with Australia striving to lead the world with a token-mapping project. “We are closely monitoring the fallout from the FTX collapse, including further...

  8. KordaMentha expands financial crime division

    proactively manage their regulatory risk,” she said. She said Mr Storey’s appointment “strengthened the firm’s position as leader” in financial crime advisory. “Richard is a wonderful addition to our team and will become a real asset to our clients and...

  9. What Labor’s IR bill means for accountants

    extend for any longer than two years.” He said the government had proposed the changes as it found that fixed-term contracts lead to insecure work, it was trying to rectify. “I think these changes can be quite far reaching,” said Mr Nicolazzo. “I know...

  10. First female CEO appointed to Office of Financial Management

    as the South Australian Government Financing Authority and Hall Advisory. “Ms Hughes has more than 20 years’ experience as a leader in both the public and private sectors, holding senior roles in finance throughout the Asia-Pacific and in the South...

  11. What the FTX fallout means for accountants

    control over their assets. “Although this solution is effective at removing the counterparty risk of the exchange, it does lead to a new set of risks that investors should educate themselves on. Crypto investors who self-custody will need to educate...

  12. Perth cafe issued with more than $190k in penalties 

    about payment to the inspectors. “Anything you say about me or the company about not paying according to award wage can lead to a heavy fine and closing of this business. This is very serious … if you say the wrong thing we will all be out of a job,”...

  13. Four essential functions for any ambitious finance team

    flow at the heart of the finance function, any future plans must be backed by sound financial input. Fortunately, finance leaders have a growing selection of tools and technology to provide detailed business insight enabling the right decisions for...

  14. SMEs ‘ready to embrace’ automated document handling

    in Australia on his first tour of the regions after being appointed in October, arrives at Dext with extensive experience leading technology companies including Sage and, immediately prior to his appointment, recruiter Thomas International. Dext...

  15. Why accountants must be alert to 100A agreement traps

    (usually), or someone connected to the client that actually takes the action – that is, engages in the agreement. The steps leading up to the agreement very often involve advisers. Discussions are had. Emails are exchanged. Advice is sought. But all of...

  16. How an unpredictable year left a lot undone

    and a secondary (four-factor) test. We have publicly shared concerns regarding the announced reforms that we believe would lead to unintended outcomes while unnecessarily increasing the compliance burden for many taxpayers. We believe further...

  17. 2023 crystal ball: Four things that will happen, and four that won’t

    about the potential for tax reform over the past year. CPA Australia has been encouraging the federal government to lead GST discussions with the states and territories to help the transition away from inefficient taxes, such as stamp duty. While we...

  18. Why digital payments will fuel the post-pandemic economy

    for the global economy “quite worrying”, is likely to do the same with plenty of research suggesting that economic downturns lead to greater digitisation, which in turn can be an effective future-proofer. How companies can get ahead The pandemic and...

  19. ASIC commissioner exits before end of term

    11 months before his terms ends, after accepting a role as general counsel at asset manager Vanguard. Mr Hughes had been a lead voice on the issues of whistleblowers and audit quality. He has previously held several positions at ASIC, including senior...

  20. One more rate rise could tip us into recession, says Deloitte

    in the cash rate beyond the current 3.1 per cent could unnecessarily tip Australia into recession in 2023,” said the report lead author Stephen Smith. “On the RBA’s own figuring, mortgage repayments, including principal and interest, are already on...

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