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Accountants need to move on licensing now, says ASIC

20 February 2015 know whether that will turn about to be the case, but if it is, well we’ve received about one per cent,” Mr Kell said. “The last figure that I’ve been provided with was 105 applications. We’ve approved 44, some are currently being assessed but quite a...

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

MYOB announces massive growth, flags new accountants' portal

26 February 2015 Tim Reed said he was pleased with the result and described the transformation delivered in the MYOB business over the last three years as an outstanding achievement. “I am immensely proud of what has been accomplished in a short period. We continue to...

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

Govt flags independence in handling of tax disputes

02 March 2015 is consistent with the positive litigation outcomes for taxpayers highlighted in the inspector-general’s report over the last seven years,” Mr De Zilva said. “The report notes that 83.5 per cent of AAT cases and 77.1 per cent of Federal Court cases have...

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

EY tips increase in divestment

11 March 2015 growth plans, with two thirds of companies seeing an increased valuation multiple in the remaining business after their last asset sale," Mr Lomas said. “Boards need absolute clarity on their growth strategy and they need to properly assess whether they...

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

KPMG warns of uncertainty in company tax rate

11 March 2015 (PPL) levy applied to companies earning more than $5 million in taxable income. However, with the government announcing last month that the PPL scheme would no longer proceed, KPMG tax partner Alia Lum has said there is now uncertainty over whether the...

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

CAANZ latest to criticise ATO's Single Touch Payroll

17 March 2015 will hurt business’ cash flow. CAANZ's criticisim follows similar comments made by the Institute of Public Accountants last week. In a submission on the ATO’s Single Touch Payroll Discussion Paper, CAANZ said it supports the policy objectives of the...

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

SMEs wary of outside advice

18 March 2015 for them,” Mr Langham said. The index also found SMEs are less optimistic about revenue growth compared with September last year. The average growth rate being forecast dropped significantly - to 6.7 per cent from 8.6 per cent - from the growth forecast...

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

Xero releases features to boost productivity

24 March 2015 the Online Quotes feature builds on the recently launched and highly popular Sales Quotes feature. “We launched Sales Quotes last month and since then the team has been focused on building the ability to do Online Quotes, building on the existing...

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

Tax agent fined for 'reckless' conduct

01 April 2015 the increase and to ensure they are wary when taking on new clients. “This is the second similar case in the courts in the last two weeks. Now, more than ever, agents need to be vigilant when taking on new clients. “As you can see from this case, there...

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

TPB defends termination process

13 April 2015 and Management Accountants (ATMA) as a recognised tax agent association. Following comments published on AccountantsDaily last week in which ATMA president Bob Duncan expressed disappointment with the TPB’s handling of the matter, the board defended its...

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

ATO shifting approach to wealthy Australians

17 April 2015 “While most wealthy Australians and their private groups do the right thing – contributing around $31 billion in income tax last financial year – some choose to avoid tax,” Mr Cranston said. “We are shifting our approach and will be visiting our largest...

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

SMEs 'frustrated' by Australia's online providers

22 April 2015 with the cost. The same survey revealed that 46 per cent of SMEs are now using cloud computing, up nine per cent in the last six months. MYOB chief technology officer Simon Raik-Allen said that while it is encouraging to see the increased adoption of...

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

Pitcher Partners poaches KPMG tax expert

22 April 2015 with a formidable depth of talent in the partner group and its wider teams. I’m thrilled to be joining," he said. In the last 12 months, the Pitcher Partners Association has announced six new partner appointments in Brisbane, Melbourne and Perth,...

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

CFO optimism surging, says Deloitte

23 April 2015 he added. “This is great news, and the underlying story appears to be the Australian dollar falling 15 per cent in the last six months to below the US$0.80 mark, and interest rates at record lows, and possibly heading lower still. “The dollar in...

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

CCH hires former Reckon leader

30 April 2015 addition to our Asia Pacific business and will be integral to the global success story that is CCH iFirm.” As reported last week in AccountantsDaily, Mr Sanders’ departure from Reckon has seen Sam Allert promoted to the newly-created position of...

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

Leave dividend imputation alone, says RSM Bird Cameron

01 May 2015 investors. Dividend imputation has been debated vigorously since the government released the Tax Discussion Paper last month, which posed several questions around the value of the system, including whether the dividend imputation system is continuing to...

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

End-of-year valuation principles for SMSFs

05 May 2015 property may not need an annual valuation unless a significant event occurred that may have changed its value since it was last valued. As long as the trustees are able to demonstrate that the valuation has been arrived at using a fair and reasonable...

• Type: Article
• Author: Peter Burgess
• Category: Super

CAANZ outlines Budget wish list

06 May 2015 “Short-term cuts are only going to serve as a Band-aid, and they risk destabilising business and consumer confidence. The last thing we need is a pre-election Budget. We need a Budget that is strategic and forward thinking,” Mr White said.

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

IPA calls for small business finance guarantee

18 May 2015 a state-based loan guarantee scheme for small business. Following opposition leader Bill Shorten’s Budget reply speech last week, in which he announced a package that would partially guarantee loans for some small businesses, IPA chief executive officer...

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

Non-compliance common among SMSFs with no accountant

19 May 2015 according to Investment Trends data. Speaking at the Chartered Accountants Australia and New Zealand conference last week, Investment Trends research analyst Recep III Peker said accountants are finding a large number of contraventions within the SMSFs...

• Type: Article
• Author: Miranda Brownlee
• Category: Super