Business

Family businesses ‘fret over cash flow, but optimistic for growth’

The economy determines the number one challenge facing family businesses, a Grant Thornton survey finds, closely...

19 September 2023 • By Philip King

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Business

Fear prevents businesses on the brink from calling in SWAT squad

Scared of losing control or the cost, directors delay reaching out to turnaround experts says specialist Michael...

18 September 2023 • By Philip King

Tax

Professional profits guidance a ‘blunt tool’ for assessing risk

Arrangements that fail to satisfy a gateway or fall into the higher risk zone under PCG 2021/4 may increase audit risk...

18 September 2023 • By Philip King

Technology

Vincents targets advice specialty at Qld start-ups

The brainchild of an undergrad accountant, the initiative will offer an “all-encompassing” advisory service to...

18 September 2023 • By Christine Chen

Tax

$20k instant asset write-off to get 1-year extension

The amendment will hold off the threshold reverting to $1,000 until June 30 next year.

15 September 2023 • By Christine Chen

Technology

ATO, myGovID, banks, telecoms to rely more on facial recognition

Identity verification laws introduced this week will allow data matching systems to be developed by the...

15 September 2023 • By Philip King

Tax

Qld retreats from payroll tax on medical centre GPs

Treasurer promises ruling next week to confirm patient-to-GP payments will avoid the levy.

15 September 2023 • By Philip King

Super

Unusual investments driving SMSF audit delays, compliance risks

An increase in complex and related-party investments by SMSFs is slowing down the audit process and increasing the...

15 September 2023 • By Philip King

Tax

ATO interest charges soar to highest level since GFC

The general and shortfall rates for late tax payments rise for the eighth quarter in a row.

14 September 2023 • By Philip King

Appointments

CA ANZ pushes Canberra to address ‘critical accountant shortage’

The government must prioritise funding for accounting and finance courses with recent data indicating that accountant...

14 September 2023 • By Philip King

Business

Business activity hits 7-year low, key indicators tumble

The latest data from CreditorWatch predicts rising insolvency rates over the next year, with food and beverage...

14 September 2023 • By Philip King

Business

Perks private wealth operation teams up with Frontier Advisors

The agreement will deliver “institutional grade” investment research to the firm’s clients.

14 September 2023 • By Philip King

Tax

Division 7A loans a looming crisis, accountants warned

Accountants must proactively address their clients’ Division 7A loans with the interest rate jumping 73 per cent this...

13 September 2023 • By Miranda Brownlee

Regulation

BDO audit partner banned until 2024 after botched financial report

The mid-tier firm says it will “fully support” its long-time partner after he failed to obtain reasonable assurance a...

13 September 2023 • By Christine Chen

Business

Tassie firm aspires to become the ‘Xero of carbon accounting’

Software start-up Sumday is helping accountants from suburban practices to big four firms grapple with tallying their...

13 September 2023 • By Christine Chen

Business

‘No appetite for action’: ASIC response to audit breaches under fire

A poorly resourced regulator and a lack of oversight over parts of the audit profession is enabling misconduct to...

13 September 2023 • By Miranda Brownlee

Tax

Accounting software subs eligible for 20% bonus deduction

The ATO specifies ongoing subscriptions for accounting programs as qualifying for the technology investment boost.

12 September 2023 • By Philip King

Business

Revise standard contracts or risk millions in fines, ACCC warns

Unfair terms will be prohibited from November under changes to consumer law.

12 September 2023 • By Philip King