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  1. Accountants blow out ASIC’s processing times

    finalised, as the date projected by ASIC for the completion of the applications (31 March) fast approaches. Figures released last week from an ASIC Licensing Liaison meeting show there are still 78 limited licence applications in draft stage, 120...

  2. Accountants become unlicensed as Dover shuts down  

    Lawyer and financial services executive Terry McMaster wrote to authorised representatives of his Dover licensee business last week, announcing the cancellation of its AFSL following the intervention of ASIC. According to the email, obtained by...

  3. Accountants ‘should cull one-third of their clients every year’

    to look at other opportunities,” he said to accountants and bookkeepers at Intuit’s annual Get Connected event in Sydney last Thursday. “When you first start up a firm, you're trying to grab as much business as you can that comes through your door. Over...

  4. Accountants ‘number one’ choice in key advice areas

    lag of accountants who are appropriately licensed to provide this advice, with ASIC having granted only 366 limited AFSLs at last count. Further, significant mindset barriers are preventing accountants from taking advantage of their 'trusted adviser'...

  5. Accountants ‘livid’ over ATO trust crackdown 

    to completely rethink their strategies heading into the 2022 tax season. The ATO draft public advice and guidance, released last week, relates to section 100A reimbursement agreements and division 7A of the Income Tax Assessment Act 1936. “Accountants...

  6. Accountants ‘insulted’ by Victoria’s 11th-hour vaccine backflip

    the Victorian government over what they’ve termed a disgraceful eleventh-hour backflip on mandatory vaccines and work. Late last week the Victorian Department of Health confirmed to Accountants Daily’s sister brand, ifa, that accountants and financial...

  7. Accountants ‘in firing line over end to LMITO’

    feel the sting of losing it. The low and middle income tax offset – LMITO, or “Lamington” as it is known – was increased in last week’s budget by $420 for the current income year. The move means some eligible individuals will benefit by $1,500 in their...

  8. Accountants ‘forced’ to make AFSL decision

    an interview with Accountants Daily, Hayes Knight founder Greg Hayes said that since the accountants’ exemption was removed last year accountants have fallen into three groups. “There's a small number who have actively said no we don't want to be in...

  9. Accountants ‘don’t want to be left behind’ in the age of AI

    on job replacement, with potential privacy breaches as major talking points. “There hasn’t been a conversation in the last two years where AI has not been one of the main topics of interest,” DePrisco said. “I still think it's early days for AI in...

  10. Accountant’s dismissal from charity was a genuine redundancy, FWC rules

    after the Fair Work Commission ruled her dismissal from the faith-based charity she worked for was a genuine redundancy. Last Wednesday (14 January), the Fair Work Commission (FWC) ruled that Uyen Phan, an assistant accountant who formerly worked for...

  11. Accountant’s appeal knocked back by AAT

    relevant information for approval, including cash flow projections and satisfying knowledge requirements. In an AAT hearing last month, the tribunal found that Michael David Watson did not provide all the relevant information that ASIC requires to...

  12. Accountant’s $340k BAS refund claim crumbles

    for a creditable purpose so that there could not be a creditable acquisition,” AAT member Rob Reitano said in a judgment last week. Reitano also upheld the ATO’s $136,000 fine against Ecosse because he found Guy was reckless as to the operation of the...

  13. Accountant, planner strengths remain at odds

    and financial planners succeed at and struggle with remain starkly different. Speaking at the Accounting Business Expo last month, My Accounts executive director Matthew Rowe referred to a survey done by Harvard Business School earlier this year....

  14. Accountant-focused licensing providers see adviser spike

    Merit Wealth, an accountant-focused licence owned by Easton Investments, saw a spike in the number of advisers joining last year, with 219 financial advisers becoming authorised representatives in 2018. This was more than triple the number of advisers...

  15. Accountant steps up in Melbourne Bourke St tragedy

    raised by the general public for the Melbournian man who helped confront the Bourke Street attacker with a shopping trolley last week. Michael Rogers, who is believed to be homeless, attempted to help police officers by confronting the knife-wielding...

  16. Accountant shortage, knowledge gap a ‘grave concern’ for leaders

    who wish to collaborate with the business.” Overcoming skills shortages has been front of mind for many leaders over the last couple of years. Similarly, the finance knowledge gap is quickly becoming a significant issue, prompting intervention from...

  17. Accountant sentenced to 7 years’ prison for theft charges

    Sportsbet gambling addiction. Former accounting manager Jason Richard Poser was sentenced in the District Court in Adelaide last week after pleading guilty to 34 counts of aggravated theft. Poser formerly held a senior role at SMSF specialist firm...

  18. Accountant sentenced for role in tax evasion scheme

    found guilty on two counts of defrauding the Commonwealth and two counts of dishonestly causing a loss to the Commonwealth. Last week, he was sentenced to two years’ imprisonment, to be released forthwith upon entering into recognisance of $4,000...

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

  19. Accountant seeks to overturn TPB findings in tribunal review

    the Administrative Review Tribunal for a review of the findings by the TPB. The TPB published allegations against Ristevski last month, alleging that he had contravened the Tax Agent Services Act 2009 (TASA) by providing tax agent services unlawfully....

  20. Accountant receives prison sentence for tax fraud

    Stamatopoulos pleaded guilty to dishonestly obtaining a financial advantage of more than $2 million in Perth District Court last week. Judge Michael Bowden sentenced Mr Stamatopoulos to eight years’ imprisonment, with a non-parole period of four years,...

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