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  1. Money! That’s what accountants want

    way behind their peers in insurance, banking and finance. The findings, in a survey of more than 11,000 people during the last quarter of 2021 by recruitment website SEEK, shed light on what motivates the profession as vacancies skyrocket. The head of...

  2. Nexia Perth has realised the ambition of being able to work “anytime, anyplace, anywhere”

    for a much smoother workflow.” Susan Montonari, Chief Operating Officer (COO) at Nexia Perth takes up the story “Over the last seven years or so, we have gradually moved all our practice software to the cloud”. As COO, Susan is constantly looking to...

    • Type: Article
    • Author: MyWorkpapers
    • Category: Business
  3. We could have done better with 100A, says ATO

    profession and is looking to address this in the final guidance. It follows clarifying comments from the ATO, welcomed late last week by the Assistant Treasurer, that the draft guidance would “not apply on a retrospective basis”. “Confirmation that...

  4. Inflation result spells uncertainty for business

    would need to factor in increased input costs for clients but also a big dose of uncertainty about how long inflation would last. Gavan Ord, senior manager, business and investment policy at CPA Australia, said the result showed we were going down the...

  5. Auditors told to act now on looming quality management standards

    that proactively identifies and responds to risks in terms of quality”. Speaking at the SMSF Association National Conference last week, Ms Banton said the whole approach was more tailored to circumstances. “It’s not a one-size-fits-all cookie-cutter...

  6. Equifax signs data agreement with ATO 

    and property services Scott Mason said the data would be incredibly valuable to customers because tax debts were often the last “bill” that businesses paid. “This means that outstanding tax debts indicate either an inability to pay, or a wilful decision...

  7. Inflation spike 'will skewer small business'

    like to see a little bit of groundwork behind that because you know, the anecdotal stories of a new business: 50 per cent last less than 12 months, 75 per cent last less than two years,” said Mr Addison. “So I’m really impressed and hopeful that that...

  8. How to navigate the ATO’s lodgment and payment options

    appropriate. The ATO has now moved into the third phase and is emerging from the more lenient approach taken during the last two years. It is not surprising therefore that we are seeing increasing late lodgment and debt collection activity. What...

  9. The key to going digital: Keep it simple

    and medium enterprises have no digitisation or only a very low level, according to MYOB’s Closing the Digital Gap paper last year. It found that increasing digital adoption among SMEs could lead to a 1.8 per cent increase in the sector’s contribution to...

  10. Warning shot frightens directors into action on debt

    according to insolvency specialists across Australia, who said inquiries have risen sharply since the ATO letter went out last month. One large practice said inquiries from directors had doubled and almost all of them had received a letter from the Tax...

  11. ATO calls time on debt as business challenges mount

    time to pay’,” Mr Spring said. Director penalty notices are now being issued at the rate of 30-40 a day, the ATO admitted last week, and it had begun reporting debt of $100,000 or more to credit agencies. This followed a series of more than 80,000...

  12. ATO zeroes in on work expenses, crypto investments

    seen a big shift in work-related expenses as one in three Aussies had claimed working-from-home expenses in their tax return last year. Mr Loh said the ATO was expecting taxpayers to make reasonable claims for both home office and travel expenses. “Some...

  13. Inflation will force a third of businesses to raise prices

    experienced increases in their operating expenses over the previous month compared to just 22 per cent in the same month last year, and the highest level since the survey question was first asked in July 2020. More than a third of businesses expect...

  14. Why your clients need to pay attention to cash flow forecasts - and how you can help them do it

    historical information doesn’t include things yet to happen: new customers, new suppliers, new pricing and lower costs. Last year’s or last quarter’s results don’t consider what’s still to come. Profit and loss statements don’t contain forward-looking...

  15. Agreement rule is ‘100A Achille’s heel’

    “A beneficiary’s entitlement has to arise out of a reimbursement agreement,” he said on a webinar devoted to the subject last Friday (24 June). “And the courts have said that reimbursement agreement must occur prior to the present entitlement arising....

  16. Investor confidence plunges below pandemic levels

    economic threats, global political unrest looms as the biggest risk for one in four investors, up 10 percentage points on last year. It feeds through to substantial declines in the capital markets, both domestic and international. Compared with last...

  17. Australian businesses lose $227m in payment redirection scams

    the hardest hit according to the ACCC report. There was a 77 per cent increase in payment redirection scams in Australia last year with businesses losing $277 million according to the latest Australian Competition and Consumer Commission report. The...

  18. AFCA reports significant drop in inappropriate advice claims

    service had seen a sharp rise in complaints about general insurance in a period that included an earthquake in Victoria last September, followed by catastrophic storms and flooding across southern states last October and in South-East Queensland and...

  19. CA ANZ member abandons campaign against board

    he was abandoning the campaign and had apologised to the CA ANZ chairman and chief executive over critical comments reported last week. The comments were motivated by CA ANZ’s handling of the KPMG exam cheating affair, which Mr Alizzi described as “the...

  20. Australia’s anti-money laundering rules ‘third world’

    in very few people are actively going to do everything they need to,” he said. “There has definitely been a change in the last year or two as people are more aware of this. “It’s in the public forum now you’ve seen Star and Crown be dragged through the...