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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

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

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

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

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

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

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 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

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

RSM records big spike in fee income

13 January 2015 world's seventh largest global network of independent audit, tax and advisory firms recorded fee income of US$4.4 billion last year. The growth was predominantly driven by a strong performance in Europe, where the network saw 79 per cent incrome growth....

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

Deloitte expects international retailers to target Aussie market

13 January 2015 at 18th and 22nd respectively in a list of the world's top 250 by revenue. While both companies dropped slightly from last year’s rankings, (15th and 19th respectively), the drop is largely driven by the devaluation in the Australian dollar against the...

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

CEO optimism up despite concerns, says PwC

22 January 2015 by PwC, 43 percent of Australian CEOs are very confident of growth in the next 12 months, up 9 percentage points from last year, compared with 39 percent of CEOs globally. In the longer term, 55 percent were very confident of growth in the next three...

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

MYOB hits client milestones

28 January 2015 using MYOB SME solutions, with more than 500,000 regular paying clients. This record figure was achieved in December last year, the firm said. MYOB has also reached a record figure for cloud subscribers, with 116,000 of the 500,000 regular paying...

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

MYOB launches new cloud-based product

29 January 2015 ERP system,” he said. The product is based on the Acumatica cloud solution developed for the US market. Late last year, MYOB announced it had taken a minority stake in Acumatica and taken a seat on the company’s board. Amazon Web Services has been...

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

Pepper calls on accountants and brokers to embrace relationship

29 January 2015 has become increasingly prevalent in recent years, something Mr Rehayem considers mutually beneficial. In October last year, national accounting group Chan & Naylor announced a joint venture with brokerage Origin Finance. Chan & Naylor Finance now...

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

Private sector bureaucracy costing business more, says Deloitte

02 February 2015 for a rule’, often without weighing the costs and benefits of doing so, and the cost of government rules has risen since the last time the Productivity Commission added them up," Mr Richardson said. Matt Saines, national leader of Controls...

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

ShineWing flags major expansion across Australia

04 February 2015 is planning to open offices around the country following the recent Moore Stephens Melbourne / ShineWing merger. As reported last year in AccountantsDaily, Moore Stephens' Melbourne office recently merged with the Chinese giant's local operation,...

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

Lawyer outlines accountants' outsourcing obligations

20 February 2015 the law requires the client to be informed to which countries their information will be sent. This rule came into force last year with the implementation of the Australian Privacy Principles, which replaced the National Privacy Principles, Ms Thorne...

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

ATO hands down unusual penalty

19 February 2015 for failure to lodge, following up outstanding cases. However, the ATO prefers to leave prosecution as a measure of last resort, and would rather engage with trustees in an effort to help them meet their obligations, the spokesperson said. Also speaking...

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