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‘Knowing technology is as important as knowing tax laws,’ trainer says

‘Knowing technology is as important as knowing tax laws,’ trainer says

by Shared by AccountantsDaily | Feb 7, 2019 | News

Platinum Accounting and Platinum Professional Training managing director Coco Hou believes accountants will now need to evolve to become “technouants” – an adviser that understands a blend of accounting and technology – as business clients look towards technology to...
Tax scams down in December, taxpayers still lose $500k

Tax scams down in December, taxpayers still lose $500k

by Shared by AccountantsDaily | Feb 6, 2019 | News

The ATO’s monthly scam report has revealed that $542,456 was reported as being paid to scammers in December 2018, down from the $1,127,782 published in November, an amount that led to the Tax Office issuing a high alert.Read more at the Accountants Daily.
Funding constraints linger despite government’s regulator blasting

Funding constraints linger despite government’s regulator blasting

by Shared by AccountantsDaily | Feb 6, 2019 | News

The final report of the commission has recommended that ASIC should take the lead in enforcing all provisions in the SIS Act as a conduct regulator, and that the corporate regulator considers court action as its approach to enforcement.Read at the Accountants...
Fears of Labor’s trust tax impact on SMSFs eased

Fears of Labor’s trust tax impact on SMSFs eased

by Shared by AccountantsDaily | Feb 5, 2019 | News

Back in 2017, opposition leader Bill Shorten announced that Labor would reform the taxation of discretionary trusts to prevent income from being allocated to household members in lower tax brackets.Read more at the Accountants Daily.
Royal Commission recommends big changes to ASIC, APRA’s oversight

Royal Commission recommends big changes to ASIC, APRA’s oversight

by Shared by AccountantsDaily | Feb 5, 2019 | News

Following 12 months of submissions and hearings, Commissioner Kenneth Hayne’s final report of the royal commission into misconduct in the banking, superannuation and financial services industry, has revealed 76 recommendations that will see financial services firms...
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