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  1. ATO backs e-Invoicing initiative

    whether or not it is the same company, the technical standard behind the system enables all software to talk to each other.” Last month, Treasury released a discussion paper consulting on the e-Invoicing governance arrangements between the Australian...

  2. IPA boss gets raw on mental health of clients, accountants

    the appropriate tools and systems that enables us all to address this trend,” he said. The findings to date In November last year, the IPA released research indicating 85 per cent of small businesses found engaging an accountant significantly reduced...

  3. Opportunity for accountants as financial advisers reach ‘distrusted’ rating

    opportunities to accountants giving advice. The 2018 Financial Advice report by Investment Trends has revealed that over the last 12 months, trust levels have fallen most severely for banks and financial planners to below five out of 10, and into the...

  4. New payment time review underway

    Education Michaelia Cash for advice on the effect these payment practices are having on small and family businesses. Last year, the ASBFEO released its final report on payment times, finding that Australian and multinational companies are increasingly...

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

  5. North American interest boosts strong M&A results

    led to a valuation increase for Australian assets, creating increased competition for Australian PE firms,” said Mr Sonego. Last week, EY’s Australasian Capital Confidence Barometer found that a record 99 per cent of Australian executives believe the...

  6. Passwords a ‘scary’ weakness in accounting firms

    for various platforms, or using autofill passwords is catching out even the most cyber safe accounting firms. As reported last week, the legal, accounting and management services sector provided the OAIC with the third highest number of data breach...

  7. TPB confirms rego termination for jailed agent

    it terminated the registration of the Sydney tax agent jailed for tax fraud and money laundering ahead of his sentencing. Last week, the Sydney District Court sentenced Md Zahidul Kabir to five years in jail after being convicted of taking more than...

  8. New platform capitalises on accountants’ AFSL woes

    OpenInvest platform, which facilitates retail investor access to a market of fund managers, launched at an event in Sydney last night. One of its co-founders, former Praemium director Andrew Varlamos, said the concept was partly motivated by an advice...

  9. Foreign qualifications get the nod in new education guidance

    between 2016 and 2018, making December this year the final deadline. FASEA’s latest round of guidance was released on Friday last week, you can read about how it impacts accountants here. [email protected]

  10. ‘Biggest structural reform’ to SME finance gets thumbs up

    has welcomed the government’s introduction of a new small business financing scheme off the back of its lobbying efforts. Last week, Treasurer Josh Frydenberg announced that the government would introduce a $2 billion Australian Business Securitisation...

  11. Accounting bodies speak against franking credit proposal

    is no investment that guarantees you a profit or a return so we can’t guarantee that what investors have received over the last decade is going to continue unfettered into the future. “Certainly if you’re already retired you have very limited options...

  12. New laws targeting tax deductions for non-withholding businesses

    legislation removing tax deductions for entities who fail to comply with their withholding obligations are set to kick in. Last week, the Treasury Laws Amendment (Black Economy Taskforce Measures No. 2) Bill 2018 passed both Houses, introducing new...

  13. CA ANZ backs latest round of education changes

    guidance put forward by the Financial Adviser Standards and Ethics Authority, citing a similar assessment to its CA Program. Last week, FASEA released a legislative instrument for consultation that covers, in detail, what further education existing...

  14. Major bank unveils invoicing product

    from Deloitte Access Economics said e-invoicing could result in economy-wide benefits of up to $28 billion over 10 years. Last month, Treasury released a discussion paper consulting on the e-invoicing governance arrangements between the Australian and...

  15. ‘Please do not panic’: ATO boss addresses STP concerns

    low-cost solutions. We are a capable bunch of people in Australia, and we will certainly take a reasonable approach.” Last month, the ATO began seeking expressions of interest from digital services providers to develop Single Touch Payroll software for...

  16. Tax agents, auditors targeted in SMSF non-lodgment crackdown

    be dealing with around 39,000 SMSFs in relation to non-lodgment issues. The ATO undertook a review of persistent non-lodgers last year, identifying around 49,000 funds who had two or more years of outstanding returns. “By July this year, we had worked...

  17. Accountants urged to ‘get their act together’ on advice

    cent who would turn to a licensed accountant to meet those needs. Further, a report by Investment Trends found that over the last 12 months, trust levels have fallen most severely for banks and financial planners to below five out of 10, and into the...

  18. Franking changes tipped to ‘strangle’ SMSFs

    refunds. The difference is that the SMSF industry back then was in its infancy and wasn’t widespread. “In the course of the last 18 years, we have encouraged the SMSF industry, partly I have to say through excess imputation credits but not entirely, and...

  19. Mid-tier highlights ATO’s gig economy focus

    employee or an contractor and this has just made it a much bigger issue because of the onslaught of the gig economy over the last few years.” According to Ms Townsend, accountants should be advising their business clients to speak to appropriate...

  20. ASIC ramps up focus on accounting standards

    should be particularly careful with as the new standards come into effect, and having released its focus area late last year. [email protected]

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