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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

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

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

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

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

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

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

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

FSI to address competition concerns

02 May 2014 Inquiry (FSI), says the inquiry’s chair, David Murray. Speaking at an Australian Business Economists luncheon in Sydney late last week, Mr Murray said it was not surprising that the banking system has become more concentrated since the global financial...

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

Legislative change is business' number one concern

06 May 2014 economic conditions, people risk and increasing competition to be named as business’ biggest concern. Finishing third in last year’s survey, regulatory and legislative change has been moving up consistently through the top ten risks over the past few...

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

Retail turnover figures disappoint

07 May 2014 of momentum consistent with recent readings on consumer sentiment - after surging into solidly optimistic territory late last year, the Westpac-MI Consumer Sentiment Index retraced all those gains in early 2014 to be back slightly below 'neutral' in...

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

Economy too fragile for cuts, says CPA Australia

08 May 2014 in the Budget, arguing the widely expected deficit levy could be seen as simply an amendment to an already existing tax. Last week, Mr Drum told AccountantsDaily that CPA Australia did not support the deficit levy, saying it would hurt small business,...

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

Government encouraging tax avoidance: William Buck

09 May 2014 further complexity to the tax system. This again increases opportunities and incentives for tax avoidance,” he said. “The last thing Australia needs to do is create, within our own borders, complex and inefficient tax arrangements that add more...

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

Business conditions down but confidence up

12 May 2014 better but still soft, profits weaker,” he added. Despite the marginal improvement in confidence, the trend remains down on last year’s highs, with no signs of an immediate reversal. Soft forward orders and headwinds from business investment and a soft...

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

The future of reporting

13 May 2014 by a company as part of their business strategy,” added Mr White. The International Integrated Reporting Council (IIRC) last year released its International Framework to establish globally accepted guiding principles and content elements that govern the...

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

Have you got the right skills for the job?

15 May 2014 Group of recruitment companies indicated the oversupply of accountants in Australia has doubled to around 1,600 since June last year, something Mr Batty said could be due to a mismatch of skill sets. “It could well be that the people in oversupply,...

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

NZ Budget shows the way

16 May 2014 great strides it has made in achieving a strong economic recovery,” Mr White said. “By turning around its deficits of the last six years, New Zealand can now spend more money on big ticket issues like research and development, and welfare measures such...

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

Government must cut compliance costs: William Buck

27 May 2014 has called on the government to accelerate tax and regulatory reform saying that despite making it clear during last year's election that it would target regulation and red tape, the Abbott government has taken little action of any significance to cut...

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

ATO to scrutinise SMSFs

02 June 2014 from July this year, will give the ATO the ability to fine SMSF trustees who fail to meet their regulatory obligations. Last year, 18,000 SMSF contraventions were lodged with the ATO, of which approximately half could have incurred penalties based on...

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

Red-tape savings passes the House

03 June 2014 Representatives. The federal government successfully passed the Paid Parental Leave Amendment 2014 through the Lower House last night. The minister for small business, Bruce Billson, said if passed by the Senate, the legislation will mean business will...

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