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  1. Xero unveils Australasia initiatives for FY19

    we’re very committed to innovation.” This comes after Xero recently acquired document management software provider Hubdoc last month, with Mr Vamos hinting of further acquisitions down the road. “I’m really committed to extending our partnership into...

  2. ATO confirms changes to ‘bugbear’ reporting issue

    has heard that the need for agents to get a declaration each time they report on behalf of an employer is a “bugbear”. “Only last week, we had the commissioner sign off on a more streamline process there. It involves an STP engagement authority, where...

  3. IPA locks in new exec appointment

    Michael Linke, who was executive general manager for member services. Mr Linke departed the IPA in the second half of last year. In July last year, the IPA made significant changes to its professional development and education services, including...

  4. Incoming changes for directors a ‘step in the right direction’

    that rogue operators, including dodgy accountants, could still bypass checks and fraudulently register clients as directors. Last week, more than 45 service providers, clients, employees and alleged “dummy directors” of phoenix companies connected to...

  5. Key audit appointments, M&A deals chalk up growth for EY

    EY’s revenue rose by almost 10 per cent over the last financial year as the big four firm secured several key audit appointments, and noted a strong demand for M&A services. The big four firm saw its revenue rise by 9.8 per cent to $1.78 billion for...

  6. Doubts linger over incoming SG legislation

    for SG, yet you haven't satisfied payroll tax, you might then get a knock at the door later.” Impact on clients As reported last week, some bookkeepers are finding clients are actively enquiring about the amnesty and are working under the assumption...

  7. $2.3m in scams, dodgy contracts sting taxpayers, businesses

    he said. Accountants and financial advisers have told Accountants Daily they’ve come close to being stung by a scam in the last 12 months, given how advanced the strategies of cyber criminals are. You can read more about their experiences here....

  8. Revenue at risk as ASIC hints at changes to grandfathering

    irrespective of consumer outcomes, adviser business outcomes and particularly given the political environment we’ve seen last night and today, my expectation is that when the royal commission makes its recommendations … that the government will be in no...

  9. Accountants’ exemption lobby hits scepticism

    for consumers of financial services,” the Office of former minister for Revenue and Financial Services, Kelly O’Dwyer, said last week in a statement to Accountants Daily. “The government will continue to engage with all stakeholders to ensure the...

  10. ‘Great deal of uncertainty’ with tax measures on hold

    Amendment (Enterprise Tax Plan Base Rate Entities) Bill 2017 and the defeat of the hotly debated corporate tax cut plans last week, a backlog of bills continue to sit before the Senate. Speaking to Accountants Daily, TaxBanter senior tax trainer, Robyn...

  11. Contentious bill passes Senate, key tax questions answered

    their return for the 2018 income year. “There may be some companies in the early stage of this compliance season in the last six to eight weeks, that have already lodged a 2018 company tax return, based on the current law that applies right now but as...

  12. MYOB set to scrap accounting desktop product

    cent of paying users are still on AccountRight Classic. He told Accountants Daily the bulk of new users, about 94 per cent last year, opt for online-only services. Mr Reed also said this move is “absolutely” in line with MYOB’s broader plans to cease...

  13. Fed court decision a lesson for bookkeepers

    leave is a lesson to bookkeepers to advise on the careful examination of applicable modern awards, says one association. Last week, the full federal court upheld a decision that casual truck driver Peter Skene was entitled to leave provisions under the...

  14. Accountants urged to steer clients through looming lending squeeze

    as they begin to navigate a tighter lending space. “The lending environment is certainly changing and has changed in the last couple of years and certainly with the royal commission now, the lending criteria is getting tighter, so I'm seeing accountants...

  15. Corporate clients urged to sit tight for tax rates despite new guidelines

    of the current sitting of Parliament before determining their tax and franking rate, despite the ATO’s new draft guidelines. Last month, the Tax Office released draft practical compliance guideline PCG 2018/D5 outlining its compliance and administrative...

  16. Clients' financial literacy helps super funds pounce: royal commission

    vulnerable to exploitation, flagging several concerns with the industry’s structure. In his concluding remarks at the end of last weeks’ public hearings on superannuation, Mr Hodge said the evidence heard by the royal commission during its fifth round...

  17. Tax agents smash deadline despite last-minute scramble

    The ATO revealed lodgement figures for SMSF annual returns were ahead of market expectations, after one of the busiest and most complex deadlines for high-net worth clients since the Howard and Costello era. ATO assistant commissioner Tara McLachlan...

  18. Accountants tipped to benefit from competition boost

    more competition in the banking and loans sector, as accountants and small business increasingly struggle to secure finance. Last week, the government released draft legislation to introduce a Consumer Data Right (CDR), which will provide individuals...

  19. Katarina enters a new relationship – with a new accountant

    Host Katarina Taurian is just starting out in a new relationship. Following a parting of ways with her last accountant, which she describes as “harder than her most difficult break-up”, she is now in the process of regaining that trust and relationship...

  20. Tax dodging sees accountant banned in $1.4m mess

    disqualified Jason Andrew Hammond from regional NSW after his involvement in three failed companies. The ban took effect last week, and will extend to 2023. The corporate regulator found, among a list of items, that Mr Hammond failed to pay tax and...