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  1. ASBFEO calls for accountant advice for struggling businesses

    “If the small-business owner, with the approval of a registered liquidator, could restructure their affairs, it would likely lead to more positive outcomes, including a greater return to creditors.” Ms Carnell has also called for the cost of insolvency...

    • Type: Article
    • Author: Reporter
    • Category: Business

  2. Surge in SMSF establishments raises alarm for ATO

    A double-digit surge in self-managed superannuation fund registrations during the peak of the COVID-19 crisis will lead the ATO to scrutinise newly established funds for signs of illegal early release. ATO acting assistant commissioner, SMSF segment,...

  3. Accountants lead mass adviser exit as FY20 wraps up

    More than 300 advisers left the industry in just one week leading up to the end of the 2019–20 financial year, with the exodus led by accountants and contributing to flat growth for most dealer groups. According to data from Adviser Ratings, 354...

    • Type: Article
    • Author: Sarah Kendell
    • Category: Business

  4. Reporting: Less pain, more gain

    Financial reporting can sometimes feel like a necessary evil, but during times of economic upheaval, reporting gives finance leaders the visibility into operations they need. This insight helps them make the right decisions at the right time and avoid...

    • Type: Article
    • Author: Jason Toshack, Oracle NetSuite
    • Category: Business

  5. IPA joins forces with bookkeeping association

    continue to be preserved, with operational autonomy across both brands. AAT chief executive Rochelle Park will continue to lead the AAT as part of the IPA Group and will assume a role within the Group Executive team of the IPA. The integration will see...

  6. Mid-tier announces 5 new partners

    financial-year appointments with the promotion to principal in its private advisory business in Cairns. All six of the new leaders have been with Grant Thornton or one of its predecessors for their entire careers, the firm said. Grant Thornton chief...

  7. Australian partner appointed as mid-tier’s Asia-Pacific chair

    partner at HLB Mann Judd Perth who will be retiring after 22 years at the helm. The appointment of Mr Henderson will see him lead HLB Asia Pacific over the next three years, and be primarily responsible for implementing HLB’s strategy and growth...

  8. ATO reins in early access to super tax schemes

    The ATO’s guidance also leans towards a pragmatic approach to fast-moving scenarios encountered by taxpayers that may lead them to withdraw and re-contribute their super. “We understand that these are uncertain times and people’s circumstances change,...

  9. The top three tips to successfully automate key business processes in your accounting practice

    out for processes that involve a number of steps and/or people, that are prone to data entry or human errors, and that often lead to inconsistent outcomes. The processing and distribution of ATO correspondence, updating client details and email...

    • Type: Article
    • Author: ATOmate
    • Category: Business

  10. Accounting network expands Victoria offering

    Melbourne. The merger will see Ross Group rebranded to Carbon Group, with Igor Hnatko, who joined Carbon in 2019, to lead the rebranded firm as principal partner. Ross Group managing director Ashley Ross said the merger came down to Carbon’s growth and...

  11. Mid-tier appoints joint audit chairs

    team from Forsythes Assurance and Risk merged with PKF. PKF Australia chair Norm Draper said he was confident the new joint leadership model would be successful, and thanked Mr Bradby for growing the firm’s audit and assurance practice during his time....

  12. JobKeeper public register ruled out as payments reach $13bn

    by the government and the Tax Office. Tax experts have publicly floated the idea that Australia should follow New Zealand’s lead and introduce a public register of businesses part of the JobKeeper wage scheme to curb wrongdoing. Pressed by Greens...

    • Type: Article
    • Author: Maja Garaca Djurdjevic
    • Category: Tax

  13. Accountants Daily Australian Accounting Awards Finalist Showcase – Boutique Firm of the Year (less than 20 employees)

    categories. In this episode, Accountants Daily editor Jotham Lian is joined by Malika Siyali, market development and agile lead at Thomson Reuters, Gold Partner of the awards, and two finalists who share how they are feeling about having gained...

  14. ‘Consult us first’: Government warned against hasty stimulus changes

    cognisant of the implementation risks associated with adjusting current stimulus measures and any reforms,” said CA ANZ tax leader Michael Croker. “Adequate lead times must be provided so that we and the clients we serve have an opportunity to plan and...

  15. $150k instant asset write-off set for significant drop

    that the asset will need to be used or installed ready for use by 30 June 2020. “Often, more expensive assets have a longer lead time between order and delivery/installation, so businesses that want to claim the deduction need to get their orders in,”...

  16. Tax reform to feature heavily in PM’s JobMaker plan

    not get you results,” he said. On industrial relations, Mr Morrison revealed that Attorney-General Christian Porter would lead a reform agenda for the industrial relations system, focusing on award simplification and revisiting enterprise agreement...

  17. Practitioners potentially ‘misled’ by ATO’s JobKeeper turnover guidance

    ATO’s JobKeeper guidance on its website may have been misled to believe their clients are ineligible for the program, says a leading tax expert. The Tax Institute’s senior tax counsel, Professor Robert Deutsch, believes tax practitioners who are only...

  18. Tax storm looms for super

    will dig deep into the retirement system and to be the basis for resetting government policy, with the COVID-19 crisis to lead to more substantial changes than the government would normally take. Industry speculation for example, he said, has forecast...

    • Type: Article
    • Author: Sarah Simpkins
    • Category: Tax

  19. What the EOFY will look like for accountants

    on this episode of Accountants Daily Insider to share her insights into the challenges she foresees for accountants in the lead up to the EOFY and some practical tips for practitioners in balancing their workloads come tax time. Amanda also reflects on...

  20. Managing cash flow in an accounting practice in tough times (Part 2)

    costs Typically, wages are one of the highest costs associated with running the practice. The obvious quandary for practice leaders is that although client demand (or need) for advice has probably never been greater and good accountants are scarce as...

    • Type: Article
    • Author: Michael Croker, CA ANZ
    • Category: Business
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