Accountancy News, Updates and Insights

4 07, 2018

Australia as a Foreign Investment Destination – Can it Last?

Over recent decades, Australia has benefitted immensely from society having become increasingly globalized and interconnected. The nation has evolved into a popular destination for foreign direct investment (FDI) – a minimum ownership stake of 10 percent in a foreign-based enterprise – and is now positioned as the world’s eighth largest recipient of inbound FDI, according

28 06, 2018

Understanding Single Touch Payroll “STP”

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Single Touch Payroll (STP) is being introduced by the ATO from 1st July 2018 for businesses with 20 or more employees (per head count on 1 April 2018). The introduction date for those employers with 19 or less employees is extended by 12 months to 1 July 2019. Instead of reporting payroll at end of year

13 06, 2018

Why Australia’s Audit Insurance Market Won’t Stop Growing

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The Australian Taxation Office (ATO) and other government revenue agencies continue to be allocated an ever-increasing amount of the federal budget. And so, it is unsurprising to learn that taxpayers – be they businesses, individuals, or Self-Managed Superannuation Funds (SMSFs) – are more likely than ever to become subject to official audits, enquiries, investigations, or

29 05, 2018

Directors Get Help From CA ANZ, ACCA; Co-Publish Financial Reporting Guide

Late last year, Chartered Accountants Australia and New Zealand (CA ANZ) and the Association of Chartered Certified Accountants (ACCA) collaborated to co-author a guide detailing the roles and responsibilities that directors have when it comes to financial reporting. Why did CA ANZ and the ACCA decide to undertake this joint endeavour? Well, in their words,

16 05, 2018

Trading Names Soon To Vanish From ABN Lookup

For those unaware, back in May 2012 the Australian Securities & Investments Commission (ASIC) overhauled the then-extant system used by entities to register what was then known as a ‘trading name’. Replacing state and territory registers, ASIC introduced a streamlined national business names register.   The Old Before ASIC’s announcement, the Registrar of the Australian

9 05, 2018

Only The Important Parts: 2018/19 Federal Budget

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The much-anticipated Federal Budget night has come and gone – now all that’s left to do is dissect, and debate, every aspect of it! But that’s not what we’re going to do here, because who has time for that, right? Instead, we’ve compiled a summary of some of the key points that were worth mentioning.

7 05, 2018

From The CEO’s Desk: Cost of Utilities

From The CEO’s Desk: Cost of Utilities Be it electricity, gas, or water; utilities are the lifeblood of modern society. And so, with Australian energy providers having charged individuals and businesses progressively more in years gone by, it is not difficult to comprehend why terms like ‘financial hardship’ and ‘mortgage stress’ are seemingly being used

27 04, 2018

Australian Banking Royal Commission – What To Know

The banking royal commission has been receiving extensive coverage lately. To help you appreciate why, let’s get up to scratch… A Long Time Coming Since the GFC, Australia’s financial services sector has accumulated a damning rap sheet: shoddy home/car loans, bad financial advice, lying to regulators, document forgery, alleged bribery, the list goes on! Australia