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CCH hires former Reckon leader

30 April 2015 addition to our Asia Pacific business and will be integral to the global success story that is CCH iFirm.” As reported last week in AccountantsDaily, Mr Sanders’ departure from Reckon has seen Sam Allert promoted to the newly-created position of...

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

Xero announces triple digit revenue growth

27 April 2015 on Friday which reveal Australian customers now exceed 203,000, up 86 per cent from the 109,000 customers at the same time last year. Of the new customers, Xero said 35 per cent have switched from other accounting software providers. Globally,...

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

IGT to handle tax complaints

24 April 2015 Our goal is to ensure that taxpayers and tax practitioners are treated with fairness and respect,” Mr Noroozi said. Last year, the ombudsman reported that his office had received 1,369 complaints about the ATO. The IGT has worked with the ombudsman to...

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

CFO optimism surging, says Deloitte

23 April 2015 he added. “This is great news, and the underlying story appears to be the Australian dollar falling 15 per cent in the last six months to below the US$0.80 mark, and interest rates at record lows, and possibly heading lower still. “The dollar in...

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

SMEs 'frustrated' by Australia's online providers

22 April 2015 with the cost. The same survey revealed that 46 per cent of SMEs are now using cloud computing, up nine per cent in the last six months. MYOB chief technology officer Simon Raik-Allen said that while it is encouraging to see the increased adoption of...

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

Pitcher Partners poaches KPMG tax expert

22 April 2015 with a formidable depth of talent in the partner group and its wider teams. I’m thrilled to be joining," he said. In the last 12 months, the Pitcher Partners Association has announced six new partner appointments in Brisbane, Melbourne and Perth,...

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

ATO shifting approach to wealthy Australians

17 April 2015 “While most wealthy Australians and their private groups do the right thing – contributing around $31 billion in income tax last financial year – some choose to avoid tax,” Mr Cranston said. “We are shifting our approach and will be visiting our largest...

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

TPB defends termination process

13 April 2015 and Management Accountants (ATMA) as a recognised tax agent association. Following comments published on AccountantsDaily last week in which ATMA president Bob Duncan expressed disappointment with the TPB’s handling of the matter, the board defended its...

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

Tax office provides clarification on LRBAs

13 April 2015 clarification from the ATO on whether two recent interpretive decisions will be applied retrospectively. In December last year, the ATO issued two interpretive decisions, ATO ID 2014/39 and ATO ID 2014/40, which confirmed that nil interest borrowing...

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

Tax agent fined for 'reckless' conduct

01 April 2015 the increase and to ensure they are wary when taking on new clients. “This is the second similar case in the courts in the last two weeks. Now, more than ever, agents need to be vigilant when taking on new clients. “As you can see from this case, there...

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

Tax agent found guilty of TASA breach

25 March 2015 (TASA) by recklessly making statements to the commissioner of taxation that were false, incorrect or misleading. The Court last week declared that between August and September 2011, Cheng Cheng Li of Sydney, a registered tax agent, prepared and lodged...

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

Xero releases features to boost productivity

24 March 2015 the Online Quotes feature builds on the recently launched and highly popular Sales Quotes feature. “We launched Sales Quotes last month and since then the team has been focused on building the ability to do Online Quotes, building on the existing...

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

Chartered accountant sentenced to jail

24 March 2015 a chartered accountant to 11 years in jail for his part in a $450 million tax fraud. Anthony James Dickson was sentenced last week to a minimum seven years' jail on two fraud charges. According to a Supreme Court judgement summary, the first was an...

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

ATO second commissioner big winner in Tax Institute awards

19 March 2015 The Tax Institute has announced the winners of its annual Tax Adviser of the Year awards at a ceremony on the Gold Coast last night. ATO second commissioner Andrew Mills was named Chartered Tax Adviser of the Year while the Corporate Tax Adviser of the...

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

Accountants' licensing lag 'disruptive' to SMSF sector

19 March 2015 Accountants who leave their SMSF licensing decision to the last minute could see an advice gap form in the SMSF sector, according to AMP. The slow take-up of the limited licensing regime for accountants is persisting as a “big issue” in the SMSF...

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

SMEs wary of outside advice

18 March 2015 for them,” Mr Langham said. The index also found SMEs are less optimistic about revenue growth compared with September last year. The average growth rate being forecast dropped significantly - to 6.7 per cent from 8.6 per cent - from the growth forecast...

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

CAANZ latest to criticise ATO's Single Touch Payroll

17 March 2015 will hurt business’ cash flow. CAANZ's criticisim follows similar comments made by the Institute of Public Accountants last week. In a submission on the ATO’s Single Touch Payroll Discussion Paper, CAANZ said it supports the policy objectives of the...

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

The future is bright for accountants and bookkeepers

12 March 2015 Looking back on the Year of the Horse last year, it’s clear that 2014 should have in fact been called the Year of the Cloud. The bounds of cloud technology were pushed in all directions by businesses in almost every industry — with one of the biggest...

• Type: Article
• Author: James Solomons
• Category: Business

KPMG warns of uncertainty in company tax rate

11 March 2015 (PPL) levy applied to companies earning more than $5 million in taxable income. However, with the government announcing last month that the PPL scheme would no longer proceed, KPMG tax partner Alia Lum has said there is now uncertainty over whether the...

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

EY tips increase in divestment

11 March 2015 growth plans, with two thirds of companies seeing an increased valuation multiple in the remaining business after their last asset sale," Mr Lomas said. “Boards need absolute clarity on their growth strategy and they need to properly assess whether they...

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