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  1. Wealthy clients in ATO's sights with reserves move

    towards anyone's transfer balance cap, or total super balance,” Ms Macfarlane told delegates at the SMSF Summit in Sydney last week. “From our perspective, it's too early to tell at this stage whether or not that is actually playing out in reality and...

  2. How artificial intelligence is transforming the healthcare industry

    being displaced by them. Roy believes even if full automation becomes possible in the future, healthcare will be one of the last industries where it will be embraced. “Diagnostic imaging technology exists right now that will identify tumours earlier and...

    • Type: Article
    • Author: Macquarie
    • Category: Business
  3. Accounting software firm announces new partnership

    a partnership with AusDocsOnline, to expand its offerings to include legal documents. The new alliance follows a deal last month to boost Reckon’s services to include stock and inventory management. The partnership will see access to over 500 legal...

  4. ATO locks in new reporting requirements

    When the idea of excluding SMSFs with lower balances was first floated by outgoing ATO director Howard Dickinson last month, concerns were raised about the administrative burden of having carve-outs for some clients and not others. In response, deputy...

  5. ‘Not the universities’ teaching accounting grads

    candidates are increasingly looking to external sources to “fill the gaps” between their education and job-ready skillset. Last week, the UNSW Business School said a typical three-year program is insufficient in preparing undergraduates to be fully ‘job...

  6. Check income streams to avoid new tax ‘disappointment’, says mid-tier

    in light of legislation aiming to tax these organisations at a higher rate if a bulk of their income is deemed passive. Last month, the government introduced a bill clarifying that a company will not qualify for the lower company tax rate of 27.5 per...

  7. Former director, COO, charged for conspiracy to deceive auditors

    the books and records of Hastie Services and one charge of conspiracy to give false or misleading information to an auditor. Last month, the former chief financial officer of Hastie Services was sentenced to two years’ imprisonment, to be served by way...

  8. ATO adds new ‘paper shuffling’ tax schemes to official watch list

    component of their fund balance will also be added. These arrangements have been of concern to the tax office since last financial year at minimum, but adding them to this list signals a considered focus, and is an official warning to professionals who...

  9. Victorian winners announced for inaugural awards

    Awards. The recipients of the inaugural, state-based SMSF and Accounting Awards were announced at a function in Melbourne last night to a crowd of 200 guests. The full list of winners can be accessed here. The awards event followed the SMSF Summit...

    • Type: Article
    • Author: Reporter
    • Category: Business
  10. ‘Clear message’ to accounting firms with first-of-its-kind penalty

    Circuit Court found it facilitated underpayments by its client, fast food operator Blue Impression. In a statement released last week, the regulator said “trusted advisers” will be targeted where they are knowingly involved in the exploitation of...

  11. National network adds new firm, set to rival big 4 on specialist offering

    dominated by big four firms. Walker Wayland has added Visa Solutions Australia as a boutique member firm, effective last Friday, after about three months of negotiations. “This is an important service offering for our clients. My understanding is the...

  12. Mid-tier fears tax, compliance laws driving clients offshore

    standards,” said Mr Brass. “The new rules go beyond internationally-accepted rules, which have been negotiated over the last two years through the monumental BEPS process, which involved the G20 and the Organisation for Economic Co-operation and...

  13. CA, CPA targeted in IPA's challenge to government

    about advancing individual brands, and not about advancing the brand of accounting,” he said. The joint accounting bodies last met in 2012. Since then, there have been significant leadership changes and structural reform at CA ANZ and CPA Australia....

  14. 4 ways cloud software can enhance your practice

    services – are the next advancement to expect in cloud accounting practice software. Sage is at the forefront of this trend, last year launching Pegg, the world’s first accounting chatbot. Pegg allows accountants to manage their clients’ financials...

  15. Addressing The Advice Gap Paradox

    are considering a relationship with a financial expert instead, however, investment advice isn’t easy to do well. The last thing accountants want is to refer clients to a financial planning firm that could damage valuable relationships. Accountants face...

    • Type: Article
    • Author: Chris Brycki, Stockspot
    • Category: Business
  16. Big 4 tips bullish M&A market in 2018

    also found that 72 per cent of Australian executives felt that the global economy was improving, more than double from the last survey, while the percentage who felt positive about their own local economies tripled from 21 per cent to 62 per cent. EY...

  17. Bookkeepers and accountants are 'not in competition', says ICB

    agents will start to eat into the market share of bookkeepers by taking over data processing tasks as technology improves. Last week, Anderson Tax & Consulting executive director Debra Anderson predicted that the bookkeeping industry would see “many...

  18. Winners revealed in 2017 SMSF and Accounting Awards

    accounting advice in Western Australia,” said Accountants Daily’s head of partnerships, Terry Braithwaite. Perth marked the last stop on SMSF Adviser and Accountants Daily’s national road show, and the crowd this evening ensured a fantastic sign-off....

    • Type: Article
    • Author: Reporter
    • Category: Super
  19. Association alleges CPA fallout ‘spooked’ regulators

    2018. AIOFP executive director Peter Johnston told delegates to the association’s national conference on Hamilton Island last month that external events have held up the AIOFP’s application, which was filed in May 2017. “The primary problem has been the...

  20. Big 4 firm adds new Melbourne partner for HNWs

    said the appointment is a result of strong growth within the division, which has seen significant revenue growth over the last three years. Since 2016, KPMG Enterprise has established a high growth ventures arm working with start-ups and entrepreneurs;...