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  1. ATO renews focus on popular deduction

    made a commitment earlier this year to focus on 'other' work-related expenses, after $7.9 billion in claims were recorded last year between about 6.7 million Australian taxpayers. ATO assistant commissioner Kath Anderson said that the ATO's ability to...

  2. Insolvency law reforms tipped to impact business contracts

    reforms” to insolvency rules, with a legal firm warning the impacts on new business contracts will be far-reaching. Last September, Financial Services Minister Kelly O’Dwyer flagged a softening of insolvency rules in a bid to reduce the number of...

  3. $2.4m lost to tax scams, ACCC reports

    ACCC reported that the ATO received 81,250 scam reports with $2,396,178 of reported losses, down from the 155,035 reported last year. Of those, 58,054 of those reports were for threat-based impersonation scams for which $2.3 million was reported lost....

  4. ‘We won’t sell’: Reckon talks plans post MYOB fallout

    focus now is on development - particularly of the division’s cloud strategy. “It’s not as if we’ve been doing nothing in the last seven months, we had a cloudification strategy, and we will continue to move forward with those plans,” Mr Allert told...

  5. 115,000 SMSFs cheaper, online admin over accountants

    an accountant. “Overall, the number of SMSFs who do not use an accountant has doubled by nearly two and a half times in the last 10 years,” said Investment Trends research director Recep III Peker at an event in Sydney. “Part of it is because of digital...

  6. Karbon’s new exec eyes MYOB, Reckon fallout

    from Wolters Kluwer Australia after about two years in sales management roles. The move, reported by Accountants Daily last week, was publicly confirmed today. “With the MYOB and Reckon APS deal falling through recently, all practices will be...

  7. Tax Office reveals adventurous, dubious claims ahead of tax time

    and has specifically placed work-related clothing and laundry claims on notice after a 20 per cent rise in claims over the last five years, with 6 million people claiming nearly $1.8 billion in laundry expenses last year. In a bid to showcase examples...

  8. A different approach to EOFY stress

    very plain diet of about 20 items. It can be very stressful at times and debilitating if I’m not careful about what I eat. Last year was a bit of a shocker and I had weeks off work, too ill to do anything. What a waste. So this year, I’m doing things...

  9. Surprise taxes catching out property owners with big sales

    super-lots, and vertical sales, where owners of individual apartments sell together, has gained traction over the last few years, as property owners search for a higher selling price. Accordingly, global property network Knight Frank’s market report...

  10. Rate change set for popular deduction

    clothing and laundry claims have also be put on notice after the ATO announced a 20 per cent rise in claims over the last five years, with six million people claiming nearly $1.8 billion in laundry expenses last year.

  11. CPA’s licensing arm missing from corporate strategy

    short of its business projections by year end 2017. It’s also reported a combined trading loss of $7.4 million in November last year since inception. Housing a dealer group under the CPA Australia brand has also posed severe regulatory conflicts for the...

  12. Vincents brings reshuffle and new service for FY19

    for the healthcare and built environment industries, Phil Ringuet, to lead the new team after leaving his position early last month. Vincents managing director David Rose said Mr Ringuet’s appointment has been “years in the making”. “In a financial...

  13. Partner intake down, but suburban expansion on the cards for PwC

    down on the record intake of 91 in 2017. There were 27 admissions to PwC’s consulting business, down from 29 admissions last year; 39 admissions to the firm’s financial advisory division, down from 41; and 3 admissions to client, strategy and alignment,...

  14. KPMG boss speaks on gender equality ‘backlash’

    to because she’s a high performer,” chief diversity and inclusion officer at PwC, Julie McKay, told Accountants Daily last year. Initiatives like KPMG’s sponsorship program are producing good results for the firm despite some internal resistance, Mr...

  15. Student outrage sees CA timetable changed to 2019

    unclear. A third capstone module will be available for students in 2018 and 2019, according to an announcement to candidates last week. Under the current timetable, some students finishing their technical modules in term two had to wait up to eight...

  16. Accountants fear impact of ATO outages this tax time

    have told Accountants Daily they find this disruptive, given they often work outside of regular business hours. For example, last month, in the build-up to tax time 2018, the ATO announced that it would update its systems over a two-day period, during...

  17. Practice Ignition appoints Receipt Bank manager for national customer role

    has reported a 45 per cent increase of payments processed through its platform - from $90 million to $200 million. This time last year, Practice Ignition had just reported a $5 million capital injection, and the appointment of former Intuit business...

  18. New ATO portals to go public by year end

    100 tax and BAS agents so far. According to an ATO spokesperson, a further 90 tax and BAS agents have been invited, as of last week, taking the total number of beta testers to 200, with the move to public beta testing slated to arrive by this year end....

  19. ACCC finds SMSF, property clients captured by scams

    on the rise this year with the amount of money lost on an average month-on-month basis increasing 117 per cent compared to last year. "Last year, Australians reported they lost $64.6 million to investment scams to Scamwatch and the Australian Cybercrime...

  20. ‘Extraordinary impost’ prompts insolvency exodus

    receiving correspondence from ASIC which outlines the metrics that will make up their ASIC Industry Funding payments for last year, but they still have no idea what it’s actually going to cost them,” said Mr Winter. “At this stage, liquidators are only...