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SME owners bullish amid uncertainty

02 June 2016 who anticipated growth in 2015 and 64 per cent in 2014. Forty-nine per cent of SME owners reported actual growth over the last 12 months, which is in line with 2015 and up 3 per cent from 2014. At the other end of the spectrum, 20 per cent reported a...

• Type: Article
• Author: Staff Reporter
• Category: Tax

Small businesses not seeking accountants' advice

01 June 2016 than half of all surveyed businesses used an accountant or financial adviser to review their banking relationship in the last year. Ross Prosper, director of taxation and business services at Bentleys Western Australia, said SME owners who don’t seek...

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

Grant Thornton nabs new partner from PwC

31 May 2016 looking forward to being part of our clients’ growth journey." My Savage is the firm's eighth lateral partner hire in the last 12 months with the firm clearly attempting to broaden its skill set through experienced hires. Grant Thornton has also...

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

Deductable donations calculator launched

31 May 2016 from the effects of cancer, so being even a small part of the solution is both humbling and gratifying," Mr Dixon said. Last year, donations to the ACRF went towards equipment that is being used to further develop personalised cancer treatments, detect...

• Type: Article
• Author: Staff Reporter
• Category: Tax

PwC announces big name recruit

27 May 2016 any organisation being disrupted or concerned about disruption in future.” Mr Zahra has been working with PwC since April last year in his capacity as a member of the firm’s Diversity and Inclusion Advisory Board. In this role he has provided advice on...

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

Poor financial management costing SMEs 'big bucks'

26 May 2016 Research has revealed that around 10 per cent of SMEs lost money last year as a result of poor financial management. Many businesses make entirely avoidable mistakes that cost them "big bucks", according to Clive Barrett, executive chairman of...

• Type: Article
• Author: Staff Reporter
• Category: Tax

Short term loans – bank vs non-bank – what’s the go?

25 May 2016 of borrowing. Reputation and specialisation is key Reputable and specialist short term lenders are absolutely not lenders of last resort! They take responsible lending seriously and will simply not knowingly advance funds to a borrower that will get...

• Type: Article
• Author: Quantum Credit
• Category: Business

ASIC reveals latest licensing figures

25 May 2016 beyond 1 July this year, with the number of approved applications still limited. An ASIC spokesperson told SMSF Adviser late last week that it has, to date, approved 149 applications for a limited licence, up from 100 in early April. A further 308...

• Type: Article
• Author: Miranda Brownlee
• Category: Regulation

Australia a hotspot for economic crime, warns PwC

20 May 2016 to a recent PwC survey. The study revealed 52 per cent of Australian organisations experienced economic crime in the last 24 months compared with the global average of 36 per cent. According to the Australian edition of PwC's 2016 Global Economic Crime...

• Type: Article
• Author: Staff Reporter
• Category: Tax

CEO warns of $20bn gap in SME funding

20 May 2016 also explains why we've been inundated with such overwhelming demand since launching version one of [our] website in October last year, and having now funded over $1.5 million in loans to SMEs to date." Alternative business finance providers have staged...

• Type: Article
• Author: Adam Zuchetti
• Category: Business

SME lending reaches record high

17 May 2016 report by the Australian Bankers’ Association (ABA), banks approved approximately $88 billion in new small business loans last year, up from $77 billion two years ago. The report found almost nine in every 10 small businesses said they do not see access...

• Type: Article
• Author: Emma Ryan
• Category: Business

NAB makes LRBA play

16 May 2016 said the bank is looking to more actively promote the product in the marketplace. "This product has played a role for the last four years within our business. But as the landscape is shifting […] we’re having more conversations about this product than...

• Type: Article
• Author: Katarina Taurian
• Category: Business

ATO issues warning on con artist threat

13 May 2016 that based on recent reports made to the ATO, iTunes gift cards were part of new tactic being used by fraudsters. "In the last month, of the 8,692 phone scam reports we received in April 2016 in relation to the fake ATO tax debt scam, 58 reports...

• Type: Article
• Author: Staff Reporter
• Category: Tax

Moore Stephens defends its Australian operations

11 May 2016 member firm at this time, Moore Stephens CEO Peter Antonius declared the network will be an ongoing success. “Over the last 12 months, Moore Stephens Australia has undergone a significant transformation, culminating in a strategic review of its network...

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

SMSF trustees at risk following budget

10 May 2016 loans compliant by 30 June this year are at risk of being “badly caught out” by one of the government’s budget measures. In last week's budget, the government proposed introducing a $500,000 lifetime cap for non-concessional contributions to...

• Type: Article
• Author: Katarina Taurian
• Category: Super

EY hits out at super changes

09 May 2016 The changes announced in the federal budget last week will pose some challenges to the efficiencies of the superannuation system, according to EY. Superannuation was a key, if not overwhelming, focus of last week’s federal budget. High-income earners...

• Type: Article
• Author: Katarina Taurian
• Category: Super

Litigation likely with new LRBA structures

06 May 2016 non-commercial terms, with any mistakes likely to lead to significant expense and potential legal action. The ATO confirmed last year it expects trustees to have borrowing arrangements on commercial terms by 30 June this year, and released guidance last...

• Type: Article
• Author: Miranda Brownlee
• Category: Business

IPA applauds government's support of SMEs

04 May 2016 The Institute of Public Accountants has praised the government for supporting the nation's SME sector in last night's federal budget. In a statement, IPA CEO Andrew Conway said he was pleased to see the government build on initiatives announced in last...

• Type: Article
• Author: Staff Reporter
• Category: Tax

Four things you need to tell customers at EOFY

04 May 2016 SuperStream is mandatory for all employers with 19 or fewer employees from 1 July 2016. Independent research conducted late last year found around one third of employers weren’t even aware of SuperStream, let alone having an understanding of what was...

• Type: Article
• Author: Nicolette Maury
• Category: Business

Accountants warned of ASIC shadow shopping

27 April 2016 being warned that the likelihood of them being targeted under the AFSL regime for compliance is even “more intense”. Late last week, ASIC deputy chair Peter Kell said the regulator plans to undertake a series of expanded and additional projects directed...

• Type: Article
• Author: Katarina Taurian
• Category: Super