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  1. PwC adds ‘largest’ intake of new partners

    Australian outpost. The raft of admissions takes PwC’s total partnership to 777, up from 693 partners during the same period last year. Of the 92 new partners, 60 were promoted from within, while two will join the firm’s Australian offices on...

  2. Push to expand small business definition hits roadblock

    the definition would make it easier for more businesses to fire workers. “So many Australians are doing it tough and the last thing we should be doing is making it easier for businesses to sack people,” he told Nine morning program Today. “This is a...

  3. Push for new appeals commissioner hits hurdles

    with a turnover of more than $250 million under his office. Progressively, all objections have moved to RDR, with the last of those being related to decisions about ABN decisions, moving in 2018. “The purported conflict that is said to arise is that...

  4. Purse strings tighten for accountants

    focus on performance reporting, efficiencies and cost control,” she said. Salaries were stable in professional practice last year, with a number of firms giving only the minimal annual increase, Ms Roeder said. “Candidate movement was seen in the big...

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

  5. Punitive or insufficient? Accounting bodies undecided on $10k cash limit

    professional association calling it an extreme response to a symptom of the black economy. Announced in the federal budget last year, the government is currently consulting on plans to make it a criminal offence for businesses to make or accept a cash...

  6. Public accountants urged to embrace SG amnesty

    business clients to “wipe the slate clean” and pay worker entitlements in full, to the Institute of Public Accountants. Last month, the government introduced a one-off, 12-month amnesty period for small businesses to address any historical underpayment...

  7. Protect your firm from the effects of a cyber breach

    of cybercrime. It happens more frequently than you might think. In 2022, a ransomware attack occurred every 11 seconds. Last year, the ransomware industry shot up to $20 billion. Preparation is key. Businesses should assess their preparedness for a...

    • Type: Article
    • Author: Accountancy Insurance
    • Category: Technology

  8. Prosperity poaches new director

    chief executive officer, Allan McKeown said Ms Sellick’s appointment follows strong fee growth in the firm’s Sydney office last financial year. “We have stepped up our recruitment activities and have assembled an expanded team of which Siobhan is a key...

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

  9. Prosperity Advisers acquires Brisbane firm to expand SME business

    has 20 partners and 180 employees across its three offices in Sydney, Newcastle and Brisbane. P+Y began talks with the firm last year, according to P+Y partner David Pennell. Mr Pennell, alongside partner Brenden Yantsch and 11 employees were set to...

  10. Prosecutions spike as ATO reveals ‘far-fetched’ excuses

    bizarre reasons for late lodgement, as the tax office goes on an on-time lodgement blitz following a spike in prosecutions last financial year. Assistant commissioner at the ATO, Kath Anderson, has issued a series of public messages urging taxpayers to...

  11. Proposed work test reform for recent retirees released

    balance below $300,000 to make voluntary contributions for 12 months from the end of the financial year in which they last met the work test. Treasury has now released draft legislation and regulations for the measure and is seeking feedback by 26...

  12. Proposed TPB reforms ‘weaken due process’

    the perceived benefits of consumer protection,” CA ANZ representatives Simon Grant and Susan Franks wrote in a submission last week. The submission also said the proposed reforms failed to account for the “substantial” regulatory changes that had...

  13. Proposed tax debt disclosure set to put an end to ‘unofficial ATO bank’

    interest charges. Entities that do not effectively engage the ATO in respect of the tax debt will be up for disclosure. The last criterion will require that the entity does not have an active complaint with the Inspector-General of Taxation concerning...

  14. Proposed R&D tax changes faces roadblocks

    proposed changes to the R&D tax incentive, citing concerns to its retrospective nature and unintended reach. In September last year, the government announced the introduction of Treasury Laws Amendment (Making Sure Multinationals Pay their Fair Share of...

  15. Proposed R&D changes labelled complex, uncompetitive

    program. “There is this constant tweaking. It causes instability in the market because people just don’t know if it’s the last change and if it’s stable. How do you budget your five or six-year innovation spending like that, what does the roadmap look...

  16. Proposed budget change a winner, says mid-tier

    practices for borrowing to invest in quality capital assets. In a speech to the Australian Business Economists in Sydney last week, Treasurer Scott Morrison revealed changes to the way the government will report its debt in the budget. “The way we have...

  17. Proposed ATO penalty regime faces backlash

    was one of 28 recommendations contained in the independent review of the Tax Practitioners Board that was released late last year. The review, chaired by Keith James, argued that the current tax system was ineffective in targeting tax practitioners who...

  18. Proposal to hold directors liable for GST set to pierce corporate veil

    says an insolvency specialist. With the reintroduction of Treasury Laws Amendment (Combating Illegal Phoenixing) Bill 2019 last month, the commissioner could soon be allowed to collect estimates of anticipated GST liabilities and make company directors...

  19. Property woes compound for SMSF clients

    Ms Brown said. For several months, even specialist SMSF brokers have been finding the market for SMSF loans challenging. Last year, Thrive Investment Finance owner Samantha Bright said tougher loan-to-value ratios and capital requirements for SMSF...

  20. Property tax changes catching clients out this tax time

    expenses, and plant and equipment depreciation in relation to their investment properties, according to H&R Block. Late last year, new rules around tax deductions for travel expenses associated with residential property investments, and restriction of...

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