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  1. Trust taxation ‘in urgent need of review’, government told

    model “ill equipped to deal with the current commercial environment”, both the IPA and BDO have told the government in the lead up to the federal budget. In its pre-budget submission, BDO said the trust taxation rules can be unnecessarily complex,...

  2. Small businesses may ‘collapse under strain of payday super’, IPA warns

    to accommodate the more frequent payment of SG. The association also warned that more frequent SG contributions will lead to higher costs for employers by way of processing costs and higher transaction and servicing costs. “In addition, the cashflow...

  3. Kloud Connect announces strategic merger with data analytics firm

    a more holistic view of the business landscape. As part of the merger, Dan Beck, Director of PT 2.0, has been appointed to lead Kloud Connect as chief executive. Mr Beck has over 20 years of experience in technology and leadership roles within the...

  4. Why employee v contractor comes down to fine print

    because including a term that allows for delegating or transferring someone's services in the written agreement will likely lead to them being characterised as a contractor instead of an employee. The Full Federal Court clearly stated (paragraph 89):...

  5. AI, pay rates and work flexibility top issues for profession

    around growing skills gaps because of the pace of change of emerging technologies”, and worries about an over-reliance on AI leading to “reduced understanding of processes, as well as potential ethical issues”. The survey said a degree of optimism was...

  6. A New Dawn: Transformation of the Construction Landscape through Decennial Liability Insurance

    of the Covid era, an old mate that we’ve all come to know and endure. A requirement for DLI coverage could very well lead to higher project expenses, as builders and developers seek to offset the cost of securing comprehensive insurance policies. In...

    • Type: Article
    • Author: Duncan Ferenczy
    • Category: Business

  7. Xero lands preferred supplier agreement with Mazars

    develop further expertise in cloud accounting, she said. Jason Pourakis, Mazars partner and accounting and advisory services lead, said clients were under increasing pressure in the current climate and the agreement would allow the firm to provide more...

  8. Rein in ‘enormous’ big 4 partnerships, small firms urge

    way, is a very good question to be asking,” he said. He also suggested adopting the model used by UK firms could also lead to greater public accountability. “I think the committee is going in the right direction in terms of looking at the cap but then...

  9. Professional bodies struggling to hold back government overreach

    (either prescriptive and/or vague); The rules move away from a principle-based Code to a partly prescriptive Code leading to degree of duplication and overlap which will lead to difficulties in implementation; and The requirement for notification to...

  10. Count announces completion of Diverger acquisition

    the company’s 44-year history”. “This acquisition resets the structure of wealth management advice in Australia, creating a leading diversified financial services company,” Humphrey said. “The network now represents over 590 accountants, in excess of...

    • Type: Article
    • Author: Keith Ford
    • Category: Business

  11. RACGP calls for clarity on payroll tax promise in Tasmania

    from paying additional payroll tax for their doctors and we want an even playing field for our GPs,” said Tasmanian Labor Leader Rebecca White. Gardner said that the future of general practice care in Tasmania was in a precarious position without a firm...

  12. Redefining the tax profession with women at the forefront

    and selfless encouragement, guidance and counsel. Different from a role model, these champions were truly my personal cheerleaders. As I look around the profession today, there are far more role models and champions for younger women than when I began...

  13. ATO’s adviser strategy zeroes in on late-paying partners

    Taskforce’s efforts to target advisers given their “important role” in supporting businesses. “Taxpayers take their lead from their advisers. Therefore, it’s critical that advisers ensure their own tax and super affairs in order,” said the ATO. Under...

  14. Beware of ‘quirks’ in draft GST ruling, cautions tax expert

    into account. “So, if you want to amend a GST return to put the input tax credit in, you want to be doing it with enough lead time to ensure you’re not outside of that four year period,” she warned. “Similarly, applying for a private ruling won’t get...

  15. $3m super tax to ‘disrupt’ small business and farmers, warns SMSFA

    The proposed measures for the implementation of a new tax on super balances above $3 million are complex, costly, and will lead to unintended outcomes not just for SMSFs but for small business operators also, says the SMSF Association. SMSF Association...

  16. Australian small businesses trail rest of APAC: CPA

    of 65 per cent, making the Australian cohort the least optimistic. According to Gavan Ord, business and investment policy lead at CPA Australia, the disparity comes down to two main factors. First, Australian businesses are technology laggards, both in...

    • Type: Article
    • Author: Nick Wilson
    • Category: Business

  17. $5.2m in illicit tobacco destroyed following ATO investigation

    the ATO and ABF on this. “This [latest] result highlights the success of that collaborative effort and will hopefully lead to further avenues of enquiry when targeting those organised crime groups profiting from illicit tobacco.”

  18. William Buck director fined $20.6k over audit independence concerns

    issued three infringement notices of $6,875 each. It alleged the Melbourne-based director played a “significant role” as a lead auditor in the half-year reviews of A-Cap Energy, Cohiba Minerals and Unico Silver during March 2023, despite already having...

  19. Global ethics body to probe firm culture amid accounting ‘trust crisis’

    The IESBA will look to tighten its code and step up its leadership role in a new three-year strategy to address recurring failures in the profession. Accounting is facing a “global trust crisis” in the wake of high-profile failures, the global ethics...

  20. Sharon McClafferty – Transforming Accounting Firms

    Sharon McClafferty’s journey from childhood dreams to the CEO of Slipstream Group showcases her passion for empowering leaders and fostering growth in the accounting industry. How did you start down this career path? I’ve wanted to work for one of “the...

    • Type: Article
    • Author: Slipstream Group
    • Category: Profiles
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