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  1. IPA calls for ASIC’s powers to be stripped

    submission to the Quality of Advice Review took its lead from an interim report from the Australian Law Reform Commission last November “and honed in on ASIC”, Ms Stylianou said. “What they were saying [in that report] was the fact that ASIC can make...

  2. Buy now, pay later needs greater regulation, says CPA

    across a variety of buy now pay later platforms, and users made an average of 16.6 transactions at an average value of $151 last year,” said Dr Schmitz. “And in the financial year of 2021 in Australia, buy now pay later services contributed a whopping...

  3. KPMG grows revenue 16% to hit $2.3bn

    consulting businesses. KPMG has rebounded from the pandemic with revenue up 16 per cent – compared with 9 per cent growth last year – and overall profitability up 8 per cent. KPMG chief executive Andrew Yates said that the firm had achieved record...

  4. 120 DPNs a day drive insolvencies back to pre-pandemic level

    reality that they’ve been trading a zombie company for some period”. “The ATO is doing very aggressive signaling. In the last week, we’ve seen the first few ATO wind-ups hitting the courts – it’s only a few, less than 10,” Mr Winter said “So the ATO has...

  5. Submissions open for Women in Finance Awards 2022

    from the individual category winners will be crowned as the recipient of the prestigious Women in Finance Excellence Award. Last year, FAB Tax Accountants’ Miriam Holme walked away with the Excellence Award after winning the Accounting Consultant of the...

  6. Small businesses ‘forgotten’ in domestic violence leave scheme

    Ms Boyd. Data from the ABS shows a steady upwards trend in the proportion of female business owners and managers over the last 20 years, with women now accounting for more than 35 per cent. “This is a crucial consideration for government — how do we...

  7. It’s time for business funding transparency

    Accountants are time-poor and largely overworked. Researching and identifying different funding options is probably the last thing they want to be doing. While some clients will use a mortgage broker, they may not have an experienced professional to...

  8. TPB aims to reduce red tape, increase automation

    professional associations, building on initiatives such as the Tax Practitioner Governance and Standards Forum established last year. More rapid adoption of technology was a key feature of the TPB’s strategy, Mr Klug said, with the goal of reducing the...

  9. FWO acts against Melbourne Uni over treatment of casuals

    had arisen previously with the vice-chancellor addressing it. "Separate to the legal matter at hand, the vice-chancellor last year apologised to past and current casual employees who had been paid less than they were due for work that they performed,"...

  10. Sky-high demand for staff ‘the number one problem’

    opportunity to identify real solutions”, CPA Australia said. ABS data showing the unemployment rate fell to 3.4 per cent last month simply reinforced the fact that “thousands” of accountants were needed to make up the shortfall, CPA Australia general...

  11. CA ANZ specifies terms of conduct review

    an important next to ensure its conduct rules were “robust” and encouraged submissions by members. The review was announced last month in the wake of the KPMG exam cheating scandal, which emerged two years ago and involved hundreds of employees who were...

  12. Hardware firm gives e-invoicing huge thumbs up

    falls on to businesses like us to then try to pass on the good word I guess because it is the right thing for the customer.” Last week, the ATO put on e-invoicing events every day in an attempt to promote its advantages online, via podcasts and social...

  13. Redraw blurred lines between work and home, ATO warns

    messages for businesses this year. “It’s been around for a while as an issue, but probably as we’ve all experienced over the last few years, some of the lines between work and home have blurred as we’ve gone into lockdowns and many business owners –...

  14. CountPlus profit leaps, raises dividend

    we have a stable platform and well-defined pathways for growth in each segment.” Mr Humphrey stepped into the CEO role last month after previously working as general manager of NAB’s consumer bank. It came after CountPlus announced in February that a...

  15. Small businesses applaud digital and skills incentives

    that will help them become more competitive and resilient. The move to legislate the measures, which were initiatives in the last budget, will enable businesses with an annual turnover under $50 million to claim for spending on technology or training...

  16. Where have all the accountants gone?

    shortage, but the reasons become clear after a look at the data. The Federal Government’s skill shortage list indicates the last time there was a shortage of accountants in Australia was in 2008. Until recently, data shows there has consistently been...

  17. Skilled migration system ‘unfit for purpose’

    fail to meet their needs. There are over 1,000 such agreements currently in place, increasing almost two-fold in the last 18 months.” The report said while changes in policies to increase labour supply and promote skill acquisition for the local...

  18. Disability services provider forced to back-pay over $3m

    the healthcare and disability services industries face acute staff shortages and suggestions, including at the jobs summit last week, that low pay was a key disincentive for workers. CLRS was found to have underpaid employees’ minimum wages between 2015...

  19. State subsidy scheme shows small business ‘desperate for advice’

    have a role in encouraging and supporting business to access advice.” He contrasted the Victorian scheme with one announced last week by Canberra, which pledges $18.6 million to help small businesses adopt digital technology from April 2023. Small...

  20. Overdue invoices ‘cost small business $1.1bn a year’

    leaner months.” Xero data showed rental costs have rose 9 per cent year-on-year and payroll expenses 13 per cent in the last quarter of 2021 while during the January and February holiday season, revenue drops nearly 20 per cent for the average...