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  1. Commissioner of Taxation on ATO’s digital future

    training as ATO employees. “Service delivery workers within the ATO [are] really frustrated by the number of times that this leads to the need for double handling … because people have been given incorrect advice or not been able to get the advice or...

  2. Commissioner of Taxation appeals Bendel case decision

    having expressed opposing views on the Commissioner’s view and ability to disregard court law. CPA Australia tax lead Jenny Wong said the interim DIS served as an important reminder for taxpayers to remain up to date with the case. “The ATO has applied...

  3. Commercial Associates makes key audit appointment

    services will be offered under the CSA branding, with CAAA focusing on private and public company audits. Mr Desai will lead both divisions. Fleming Stojanovski, CEO of CAAA, spoke of the need to establish Commercial Associates as a “credible...

  4. Coming to grips with succession planning

    to have confidence in any change in management or ownership. The sudden and seemingly unplanned exit of a business owner can lead both suppliers and customers to question the viability of the business, taking their custom elsewhere. Business owners...

  5. Come clean on risks in annual reports, ASIC warns

    financial report, and disclosures in the financial report and Operating and Financial Review. It said uncertainties could lead to a wider range of valid judgements on asset values and other estimates, and financial report disclosures about key...

  6. Coalition will oppose increase to sophisticated investor thresholds: Senator Hume

    assets held for their long-term growth benefits. Fluctuations in asset values, especially unexpected spikes, could lead to unexpected tax obligations that have no relationship to the income streams generated by those assets. “As experts from the...

    • Type: Article
    • Author: Maja Garaca Djurdjevic
    • Category: Business

  7. Cloud computing implementation costs may impact P&L accounts for June 2021 year-ends, following new ruling

    the service is “distinct” in the context of the cloud computing arrangement. The ruling is retrospective, which will also lead to companies having to reassess previously capitalised costs and consider whether they met the identifiability and control...

    • Type: Article
    • Author: Andrew King, KPMG Australia
    • Category: Business

  8. Clients warned on discretionary trust amendments ahead of retrospective duty, land tax

    late last year, believes there may have been a number of clients who missed the 31 December deadline because of the short lead time. “There’s probably a whole bunch of clients out there who haven’t heard of it and dealt with it yet, so I’d probably be...

  9. Clients remain plagued by SMSF confusion

    prior to 1 July this year.” Superannuation reform has been particularly problematic for accountants, particularly in the lead up to end of financial year this year. Prior to June 30, Hayes Knight director and chair of Knowledge Shop told Accountants...

  10. Clients frustrated by jargon, research finds

    Anthony Capano (pictured) said trust was built through every interaction. “When communication misses the mark, it can lead to misunderstandings and damage valuable relationships,” he said. “Firms that communicate consistently and personalise with care...

  11. Client data under-utilised by accountants

    client if they've commenced a transition to retirement income stream," said Mr Bates. "There's a lot of data there that can lead to a conversation."

    • Type: Article
    • Author: Miranda Brownlee
    • Category: Technology

  12. Chris Bowen announces leadership bid, promises policy ‘blank canvas’

    Shadow treasurer Chris Bowen will contest for the Labor leadership against frontbencher Anthony Albanese, promising a fresh look at its policies. Mr Bowen has this morning announced his plans to assume leadership from the departing Bill Shorten. “I...

  13. Check in-house assets before 30 June, trustees reminded

    a range of headaches which could potentially be avoided by proactively estimating their fund’s in-house asset levels in the lead up to 30 June,” Day said. “Where it will be close, or the fund will be just over the five per cent limit, the members could...

  14. Changes on the ground for Practice Ignition in 2019

    Trent will share the reason behind his relocation and how it will impact his role going forward, while also revealing how it lead to the appointment of new members within his team. Trent will also discuss his thoughts on the Australian accounting sector...

  15. Change of RBA governor a cause for optimism

    and transparent monetary policy into the future. Treasurer Jim Chalmers announced Ms Bullock will be the first woman to lead the RBA in its 63-year history with experience from working at the RBA since 1985 and her fresh leadership perspective to...

  16. Chan & Naylor warns FoFA will be lose-lose

    put advisers back in the firing line. If FoFA passes to law in its current iteration then Mr Hasib believes that this will lead to a number of perturbing outcomes including increased red tape, further consumer confusion and, as the cost of doing...

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

  17. Chan & Naylor nabs new leader from EY

    Chan & Naylor has announced the appointment of a new leader to oversee the firm’s national operations. Sarah Magarey has been appointed to the newly-created role of general manager and will lead the firm’s 22 businesses and 158 staff across 16...

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

  18. Chan & Naylor backs commissions payments

    accounting group Chan & Naylor has defended commission payments in the financial advice sector, saying their removal will lead to more Australians turning away from professional advice altogether. Highlighting insurance as one area of concern, Chan &...

    • Type: Article
    • Author: Michael Masterman
    • Category: Regulation

  19. Chalmers revives 120% deductions for spending on skills, digital

    senior manager business and investment policy, Gavan Ord, welcomed the move but urged state governments to follow the lead of Victoria and Tasmania by subsidising businesses that access advice. “The accounting profession plays a critical role in...

  20. CGT discount reduction would stifle housing supply, lobbyists argue

    The housing lobbies argued that reducing the CGT discount or negative gearing would reduce rental property investment, leading to a supply contraction that would put upward pressure on rents. Modelling by Qaive and Tulipwood Economics, commissioned by...

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