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‘Spate’ of scams in operation this tax season

28 July 2015 a statement saying it has received reports of the scams demanding that taxpayers pay money. “An H&R Block client reported last week that he had received a very aggressive telephone call, supposedly from an ATO officer with the (fake) name of William...

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

Class names new director

23 July 2015 Financial Group chief executive Tony Fenning as the final new director to the Class board. Mr Fenning’s appointment follows last week’s announcement of three new directors – Kathryn Foster, Matthew Quinn and CEO Kevin Bungard. Class chairman Barry...

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

Accountants offered $8m stake in Panalitix

22 July 2015 in Perth?', wherever they happen to be.” The offer was first announced to Panalitix clients at a conference in Bali last week, while clients who did not attend will formally be presented the opportunity in a webcast today. From conference attendees...

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

Tax office sounds warning on pensions

14 July 2015 responded to confusion regarding the partial segregation of assets for pension purposes. Speaking at the CPA SMSF conference last week, the ATO’s Kasey MacFarlane, assistant commissioner, SMSF segment, superannuation, confirmed that SMSF trustees cannot...

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

Culture shock ‘biggest challenge’ accountants face

14 July 2015 between the two sectors will be a major roadblock to business success. Speaking at the CPA SMSF conference in Sydney last week, Licencing for Accountants chief executive Kath Bowler said differences in qualifications, personality and remuneration...

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

Tax agents found to be misusing auditor numbers

13 July 2015 superannuation partner with accounting and advisory network BDO. Addressing CPA Australia’s SMSF conference in Sydney last week, Ms Schaefer said 50 per cent of the auditors reported being supplied with inaccurate information about the audits they were...

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

CCH launches cloud-based tax solution

13 July 2015 has officially launched its online cloud tax solution to the Australia market. After a successful pilot program run over the last year, CCH officially launched a tax solution for accountants as part of the CCH iFirm suite. Speaking to AccountantsDaily,...

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

GT announces leadership shake-up and partner appointments

09 July 2015 taken over the position of Grant Thornton chief executive, replacing former CEO Robert Quant who held the position for the last eight years. As a result, Nicole Bradley has been promoted into the role of managing partner of the Sydney office. Mr Keith...

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

RSM names new partners and principals

07 July 2015 McArthur have been made principals in the Financial Service business. This year’s round of appointments is slightly down on last year when RSM announced six new partners and three principals. New RSM partners: Ross Paterson Mr Paterson, who joined RSM...

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

Manning and TJL Business Advisors announce merger

06 July 2015 NSW-based Manning Tax & Business Consultants (MTBC) has merged operations with two-office accounting firm TJL Business Advisors, with the firms citing a desire to provide a more complete service offering as the driving force behind the move. TJL...

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

PwC names 64 new partners

30 June 2015 capability to work with clients to execute those strategies. "We've also invested in growing our presence in Western Sydney. Last week we released research which shows that one fifth of the nation's economic output comes from just 10 locations, with...

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

Deloitte launches digital studio

25 June 2015 for transformational digital services in government. Frank Farrall, Deloitte Digital lead partner, noted that over the last two years digital disruption has moved from the edges to the core of the Canberra economy. “The impact of digital disruption on...

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

Accounting jobs market set to jump

25 June 2015 Hiring intentions in the accounting and professional services sector jumped last quarter, according to a survey by Hudson. The Q3 2015 Hudson Report: Employment Trends, based on a survey of more than 3,500 employers nationally, found net hiring...

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

KPMG announces record number of new partners

22 June 2015 round of partner appointments, effective 1 July 2015, 37 per cent are for senior female executives, up from 24 per cent last year. In addition, a record 56 per cent of internal promotions to partner were female. KPMG said it has taken a proactive stance...

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

ATO to target foreign income-earners, warns H&R Block

17 June 2015 Block has warned the ATO will target foreign income earners this tax year after the Project DO IT amnesty was withdrawn late last year. Project DO IT (Disclose Offshore Income Today) was announced on 27 March 2014 to allow eligible taxpayers with...

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

Melbourne firm joins Moore Stephens

16 June 2015 Moore Stephens has found a Victorian firm to replace its Melbourne office, which last year defected to Chinese giant ShineWing. Nexia Melbourne, with 16 partners and 100 staff, will join Moore Stephens as its Victorian office “in coming months”....

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

Rule changes see business owners turn to SMSFs

16 June 2015 SMSFs continue to grow in popularity, with 53 per cent of respondents using a SMSF compared with 48 per cent in the survey last year and 45 per cent in 2013. RSM Bird Cameron director Brad Eppingstall said the superannuation rules continue to be...

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

ATO warns of raids on tax agents

12 June 2015 are setting out to cheat the system and where records may be destroyed if we give notice,” he said. The tax office announced last week that phoenix activity costs the Australian economy up to $3.2 billion each year, with honest businesses losing almost...

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

Businesses urged to adopt cloud this financial year

10 June 2015 competitive, resulting in falling prices. This, he said, combined with the generous small business tax concessions in last month's federal Budget, provides the perfect environment for businesses to upgrade their accounting software. “Especially with the...

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

SMSFs 'without a doubt' behind CPA's move to advice

09 June 2015 a key driver of CPA’s entry into financial advice, according to an SMSF consultant and former Macquarie Group director. Late last week, CPA Australia announced it was to establish a new wholly-owned subsidiary to provide independent financial advice to...

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