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  1. SME sector running hot and cold, survey finds

    growth was at a seven-year high point but those expecting revenues to contract had leaped 18 per cent compared with last year. The report said the fate of the construction sector, the largest SME category in the country, was a significant factor. “A...

  2. High-profile wage failures ‘to drive up SGC penalties’

    being paid the correct amount of SG and report cases of non-compliance to the ATO. The Fair Work Ombudsman (FWO) reported last month that it had recovered $509 million in underpaid wages for 251,475 workers during 2022–23. More than half of the FWO...

  3. Retailers brace for 8% fall in Christmas gift spending

    Two-thirds of shopping would be in store with just over one-third done online and one in five doing fewer web purchases than last year. Almost half of shoppers will buy an environmentally friendly gift. ARA predicts Australians will spend $67.1 billion...

  4. Average refund plummets by $580, total payout down $5.4bn

    31 deadline, ATO figures reveal. Data supplied to Accountants Daily revealed 10.5 million taxpayers put in returns by last month’s date, up from 10.2 million last year, with half of those self-prepared and the other half done by tax agents. But a...

  5. EY makes 232 staff redundant as consulting demand plummets

    and uncertain environment, with the market continuing to shift at the fastest pace that we have experienced in the last 15 years,” he said. “This shift in the market is being driven by a range of factors, but is particularly being felt in the demand for...

  6. ATO, banks revive legacy debts and return to court action

    latest Credit Insights Report from Alares. Its report also showed the big four banks had ramped up their court recoveries last month with high interest rates impacting the serviceability of debt. Jirsch Sutherland partner Malcolm Howell said the ATO was...

  7. Too soon to back AAT on Div 7A, accountants told

    practitioners, we’re still working with clients based on the Tax office’s guidelines on trust distributions which came out last year. There’s since been a couple of tax cases that have challenged some of the views in that guidance,” he said. “[The Tax...

  8. Why Division 296 sets a stressful precedent

    relating to structured settlements, child recipients of superannuation income streams and individuals who die before the last day of the income year. As a result, an individual who dies on any day from 1 July to 29 June of an income year is not subject...

  9. Why business leaders need to talk about menopause

    said. “It was so profound when I started getting me back again.” Her experience prompted her to conduct research over the last 12 months into how women define success, and the barriers they face in achieving it. She said numerous women have shared...

  10. Interest rate increase ‘to quash seasonal hiring spike’

    hours. “It is likely we will still see seasonality hiring drop off over the summer trading period compared to the same time last year as businesses seek to recoup losses,” he said. The latest Employment Hero data for September showed staff growth of 6.6...

  11. PwC to cut 300 jobs, close Adelaide support hub

    cuts were 75 staff unable to join Scyne Advisory, the reborn government consulting arm of PwC, who were put on leave last week. A total of 1,300 staff and 100 partners would move to Scyne Advisory. “We attempted to find alternative positions for these...

  12. ATO targets utes in myth-busting FBT mission

    that the final five draft legislative instruments that implemented changes to FBT record keeping were released by the ATO last month. The changes followed a law that gave the Commissioner the power to allow employers to rely on alternative records to...

  13. ASIC exposes dozens of dodgy investment websites on blacklist

    to address online fraud and supported the work of the new National Anti-Scams Centre (NASC), which opened in July. Last week ASIC revealed that since July its scam-buster technology had disabled 2,100 fake investment websites mainly offering high-risk...

  14. DSS launches ‘first cloud-based platform’ to simplify client billing

    previous software products, using technology from cost recovery software firm Softlog Systems, which DSS acquired in July last year. “We’ve taken our cloud platform and then supplemented it with Softlog’s decades of technology to enable accountants to...

  15. RBA move a ‘kick in the guts’, but few surprised

    likely to slow demand in the sector further.” Employment Hero said the RBA decision would hit seasonal hiring compared to last year as consumer confidence plumbed fresh lows. CEO Ben Thompson said the RBA had the power to make or break Christmas for...

  16. RBA reveals interest rate decision for Cup Day

    The Reserve Bank of Australia has announced its cash rate decision following higher than expected inflation figures for last quarter. The Reserve Bank has decided to increase the cash rate by 25 basis points to 4:35 per cent after CPI result for the...

  17. Seamlss adds client-linking feature to onboarding software

    He said the agent-linking update came baked into Seamlss as a part of the app at no extra costs to subscribing firms. Last month, the ATO responded to concerns about the six-step linking process by expanding the window for clients to nominate agents...

  18. Accountants ‘should cull one-third of their clients every year’

    to look at other opportunities,” he said to accountants and bookkeepers at Intuit’s annual Get Connected event in Sydney last Thursday. “When you first start up a firm, you're trying to grab as much business as you can that comes through your door. Over...

  19. Acquisition-hungry Count buys Canberra accounting boutique

    deals included the purchase of accounting boutique Affinia for $3.4 million in May and Addvantage for an undisclosed sum last year. Meanwhile, on Wednesday, insolvency firm Cathro & Partners also announced expansion plans by opening a Melbourne office...

  20. ASIC scam-buster tech blitzes thousands of dodgy websites

    better awareness, and less financial losses.” He said the NASC had reported a decline in losses to investment scams over the last quarter and ASIC said most of the 2,100 investment scam websites disrupted had been fake investment platforms appearing to...

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