Some ambitious academics have their eyes firmly focused on getting a slice of the Research & Development (R&D) pie that currently belongs to the SME sector. Having suffered financially from a lack of foreign students during COVID, a number of tertiary...
Financial Services
Financial advice including wealth creation, insurance and lending services
Allocation of professional firm profits — draft ATO guidance now available
by TaxBanter | Mar 4, 2021 | Business Services, Client Management, Featured Articles, Financial Services
The ATO has released long-awaited draft guidance on its proposed compliance approach to the allocation of professional firm profits. The preliminary guidance is contained in the draft Practical Compliance Guideline PCG 2021/D2 (the draft Guideline). The ATO has also...
ATO Revs Up As JobKeeper Set To End In March 2021
by Roman Kaczynski | Mar 1, 2021 | Business Services, Client Management, Featured Articles, Financial Services
Although 2020 saw a temporary lull in the ATO and State Revenue Office’s usual activity level due to the COVID-19 pandemic, 2021 is already set to be as busy as ever when it comes to audits and reviews initiated by government revenue authorities. Accounting...
To Outsource or Not to Outsource
by Boobalan MAdhavan | Feb 23, 2021 | Business Services, Client Management, Featured Articles, Financial Services
Performance, efficiency and productivity take the spotlight of any open thought or brainstorming session in pursuit of growth. Especially so during times faced with challenges from new and unfamiliar effects (yes, like the boring grim pandemic we can’t wait to get it...
Single Touch Payroll changes from 1 July 2021
by TaxBanter | Feb 22, 2021 | Business Services, Featured Articles, Financial Services, Technology
The ATO has recently published a number of fact sheets in relation to Single Touch Payroll (STP) changes which will take effect on 1 July 2021. Small employers will commence to report for closely held payees, and the quarterly exemption for micro employers will...
Using Research and Development to Add Value to Companies!
by Peter Towers | Feb 22, 2021 | Business Services, Featured Articles, Financial Services, Professional Development
Research and development is an area that many accountants have very little experience in but it is an area that many small business and medium-sized clients are interested in having a clear understanding of what they can claim in their income tax returns and what...
Five ways to grow your accounting firm
by Rob Pillans | Feb 18, 2021 | Business Services, Client Management, Featured Articles, Financial Services
As an accounting firm coach, consultant and mentor I am regularly asked to assist accounting firm owners to grow their firm. In this article I summarise five ways to do that. Interestingly, what I find is that the emphasis is often on growing revenue, and profit is...