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Stage is set for a surge in M&A activity

29 April 2014 he said. Mr Browing said the survey also revealed companies are now more likely to use debt to finance deals than this time last year. “The number of companies looking to use debt as their primary source for deal financing has more than doubled from 12...

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

Former KPMG partner jailed for insider trading

28 April 2014 court judge has jailed former KPMG partner Scott London for 14 months for his role in an insider trading scheme. Mr London last year pleaded guilty to a federal charge of securities fraud through insider trading, admitting to taking cash bribes and...

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

ATO provides BEPS update

23 April 2014 it requires change, domestically and internationally”. In his speech to the Tax Institute of Australia conference in Hobart last month, commissioner of taxation Chris Jordan said the ATO is focused on working more closely with partner tax agencies to...

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

RSM International expands network

22 April 2014 to the UK,” said Mr Hutchinson. Baker Tilly acquired RSM International's previous UK member firm, RSM Tenon, in August last year, creating a firm of 40 offices, around 3,500 partners and staff and a fee income of over £300 million. The acquisition of...

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

SMEs want tax process simplified: MYOB

09 April 2014 level since 2009. Mr Reed said these results are the first measure of SME sentiment regarding the federal government since last year's election and it appears sentiment is moving from negative to neutral. “The drop in dissatisfaction could mean small...

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

ASIC asks for small business sector's feedback

07 April 2014 regulator's services and engagement with the small business sector. This is ASIC’s second small business survey, with the last survey (conducted in late 2012) resulting in the establishment of ASIC's Small Business Engagement team. This team is focused...

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

Labour market improving: ANZ

07 April 2014 “Each of the main job ads/vacancies measures have risen this year, while some have been improving since the end of last year. Importantly, there has been strength in job advertising in some key industries, including construction, education and health,...

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

Xero posts massive jump in revenues

04 April 2014 a net loss after tax for the full year of approximately NZ$35 (AU$32.4) million, compared with NZ$14.4 (AU$13.33) million last year. A statement from Xero said recruitment and expanding the company’s global network were two key focuses for the 2014...

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

Changes to Division 7A not enough: Pitcher Partners

02 April 2014 from reaching their commercial goals, according to Pitcher Partners tax partner Theo Sakell. Mr Sakell’s comments follow last week's announcement by the Board of Taxation of proposed changes to Division 7A of part III of the Income Tax Assessment Act...

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

National accounting and planning bodies announce alliance

02 April 2014 described as both a “commercial and political alliance”. Addressing the AIOFP offshore conference in Phnom Penh, Cambodia, last week, NTAA Advice member advocate Phil Osborne said his organisation is seeking access to trusted relationships with...

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

ATO 'under resourced completely' to deal with SMSFs: analyst

02 April 2014 said the ATO is struggling to keep up with its normal tax duties and is “under resourced completely.” “With SMSFs over the last five years, on top of a GFC, no wonder the tax department can’t’ keep up. And changes to superannuation are just constant,”...

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