Financial Services Archive

SMSF Industry Summary Report – Proposed 3 Year SMSF Audit Cycle

Saul SMSF recently conducted a survey to understand the impact of the Federal Government’s proposed three-yearly audit cycle for SMSFs.

260 survey respondents answered 30 questions and submitted over 1,700...

The Value of Internal Audits

It’s quite evident that clients often don’t see real value in audit services. They’re often regarded as a necessary cost without much real value. Auditors often struggle to communicate...

So, you’ve been targeted by the ATO for a tax audit

Can you – or your clients – afford to be audited? We find out why it pays to be prepared.

It’s the letter or phone call you may not want...

Crowd Sourced Funding Amendments Create Opportunities for Accountants!

If you want your accountancy firm to “stay ahead of the game” and offer a wide range of solutions for your clients – The Australian government has delivered a...

Tax Fundamentals: What advice can I rely on?

In 2015, the Government released its tax White paper titled ‘Re:think Tax discussion paper’. As part of the discussion on complexity, the paper noted:

In the 1950s...

What’s your opinion on a 3 year SMSF audit cycle?

The 2018 Federal Budget proposed the SMSF audit cycle be extended to 3 years for funds with good compliance history, starting from 1 July 2019. Treasury has asked for...

Class – Impact of Super Reforms shows tectonic shift in assets, with taxable SMSF assets almost doubling to $422bn

Wednesday, 1 August 2018 

The latest Class SMSF Benchmark Report has exposed the real impact of Super Reforms on pension assets, with the dual forces of TRIS change and introduction...

How GST applies to Vouchers

This article looks at how GST applies to vouchers, and highlights that not all vouchers are treated the same way under the GST provisions. In particular, it looks at...

Unenacted tax measures at 30 June 2018: bills wrap-up

In wrapping up the Autumn session of Parliamentary sittings, the Senate adjourned at 8.17 pm on Thursday 28 June 2018 until Monday 13 August 2018. At the close of...

Why Does Accounting Software Make Life Harder?

Accounting in the main is simple arithmetic, add a little here, take a little there, balance to zero, and you’re done. If only it were that simple in practice...

Introducing the Corporate Governance Network

Over the last two years, through our consulting business – Towers Business Development Pty Ltd – we have conducted a series of workshops on behalf of the AusIndustry...

Top 10 Budget Takeaways

Apart from the promised phased personal income tax cuts and the “overhaul” of the R&D tax incentive, the 2018 Federal Budget did not contain many measures that resembled significant...

3 Year Audit Cycle Misses the Point

The 2018 Federal Budget announcement proposed that the SMSF audit cycle be extended to three years for funds with good compliance history, starting from 1 July 2019. Is that...

The 2018 CAANZ Audit Conference – Panel Discussion

Data, artificial intelligence and machine learning – what’s next for the external audit?

CaseWare Australia & New Zealand CEO, Craig Waldon...

Keeping it clean

Money laundering is big business, with an estimated $15 billion laundered annually in Australia. When coupled with the impression of respectability, legitimacy and credibility, the gatekeeper role played by...

Blockchain – How tax can build a network of trust

When it made Gartner’s Hype Cycle for the Emerging Technologies List in 2017, some said we’d reached peak-blockchain. Gartner predicted that the technology was still 10 years away from...

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