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Hays tips strong demand for accountants in 2015

12 January 2015 ability to choose from different roles, with many accountants receiving multiple offers at once. “I think there was a time last year when our clients felt a little bit more in control whereas now if clients aren’t making a decision at interview stage...

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

Accountants oppose FSI's SMSF stance

07 January 2015 you agree with the FSI's recommendation to ban direct borrowing in SMSFs?” to which 186 (65 per cent) said no. In December last year, the FSI recommended the removal of the exception to the general prohibition on direct borrowing for limited recourse...

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

BDO partner appointed to Board of Taxation

05 January 2015 property and construction, defence, manufacturing, wholesale and distribution, and professional service firms. He joined BDO last year and was formally managing partner of Mann Judd in Melbourne. He is also the former chair of The Tax Institute’s...

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

Accountants want more from industry bodies

30 December 2014 to July 2016 and said CAANZ would be stepping up its efforts next year. “Whilst we have engaged with many members over the last 12-18 months, there are still many we need to engage with," he said. “In 2015, Chartered Accountants Australia and New...

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

ATO disclosure deadline fast approaching

18 December 2014 of special terms offered under the initiative. Under these terms, taxpayers making disclosures will only be assessed for the last four years, be liable for a maximum shortfall penalty of 10 per cent, and will not be referred for criminal investigation....

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

ATO issues further guidance on non-commercial LRBAs

17 December 2014 on factors for consideration when determining whether the terms of a related-party loan are on a commercial basis. Late last week, the ATO released ATOID 2014/39 and ATOID 2014/40, which set out the ATO’s view that the non-arm’s length income (NALI)...

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

ATO issues two LRBA interpretative decisions

16 December 2014 related parties in two long-awaited Interpretative Decisions. The ATO issued ATO ID 2014/39 and ATO ID 2014/40 on Friday last week, after months of speculation initially stemming from a private binding ruling which illustrated the significant tax...

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

High Court decision to impact development tax arrangements

15 December 2014 A decision last week in the High Court of Australia will have implications for a large number of property development projects, according to Pitcher Partners. The High Court ruled in favour of the Victorian commissioner of state revenue in a case...

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

New head of Treasury announced

09 December 2014 John and wish him every success as he takes on this new challenge," Mr Ermotti said. "I'd also like to thank him for the lasting contribution he has made to UBS as a leader, an executive board member and a colleague over the last two decades."

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

Australian businesses soaring towards the cloud

09 December 2014 by this time next year,” Mr Ridd said. “The number of Australian small businesses using Xero has doubled since September last year, and we’re looking forward to continuing to build our small business user base and providing them with the mobility and...

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

Last chance to expand into Asia, says PwC

02 December 2014 work. Along with large local businesses, they are now the competition – and they are world-class competitors.” Mr Parker last week launched the report Passing us by: Why Australian businesses are missing the Asian opportunity. And what they can do about...

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

New Asia-Pacific taxation taskforce announced

01 December 2014 tactics, increase tax transparency and help countries to tackle base erosion and profit shifting in the Asia Pacific. Last week, ATO Commissioner Chris Jordan hosted the 44th meeting of the Study Group on Asian Tax Administration and Research (SGATAR)...

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

CBA names new business banking leader

01 December 2014 strategic priority for the Commonwealth Bank. “Grahame has made a significant contribution to the Bank over 35 years, the last 10 on the Group’s Executive Committee," Mr Narev said in a statement. "His legacy is an ongoing drive to improve customer...

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

Sterling crowned Business Publishing Company of the Year

25 November 2014 Company of the Year 2014 at the prestigious Publishers Australia Excellence Awards. The 18th annual awards, held in Sydney last week, featured some of the biggest brands and businesses in publishing, with Bauer Media, Reed Business Information, Pacific...

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

SMSF audits set for change

24 November 2014 transactions have occurred, chief executive of Engage Super Audits Jo Heighway said at a SPAA state chapter event in Sydney last week. “That means effectively our advice is almost way too late to even be relevant to anybody. Real-time information is...

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

Senator warns FOFA move will hurt financial services

20 November 2014 warned of the costs of legislative uncertainty for the financial services industry following yesterday's FOFA disallowance. Last night a motion disallowing the government’s bill amending FOFA passed through the Senate, having been knocked back by the...

• Type: Article
• Author: Aleks Vickovich
• Category: Regulation

Two-speed economy hitting SMEs, says MYOB

17 November 2014 confidence in their revenue performance, business operators have reported increasing pressure on their operations over the last five years. The survey highlighted a number of leading pressures like fuel prices, cash flow, price margins and the timing of...

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

Walker Wayland partners with IP experts

13 November 2014 be a major asset to a business." The arrangement is the latest in a series of strategic partnerships for Walker Wayland who last year partnered with online legal document provider Law Central, energy sustainability consultants Pangolin Associates, risk...

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

Deloitte stresses 'mounting' client retirement risks

06 November 2014 access to deferred or lifetime annuities, Mr Mason said. “At retirement [retirees] get a lump sum which they need to make last for the rest of their lives. But how long will that be? No one knows. A system that required retirees to purchase a deferred...

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

EY report sheds new light on cybersecurity threat

05 November 2014 happen to us all. “The genie is out of the bottle – and we can’t put it back, we all have to learn to adapt or perish.” Last month, PwC highlighted the “severe and present danger” of cyber risks pertinent to accountants, including those in small...

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