Accountants Daily Podcast Network: Recent Episodes
Momentum Media
The Accountants Daily Podcast Network brings together the best of the Australian accounting profession within one dedicated platform – delivering the latest headlines and insights directly to you.
Lead by Accountants Daily editor Philip King, the Accountants Daily Podcast Network includes a number of focused programs, including:
Accountants Daily Insider, and the Australian Accounting Awards Finalist Showcase.
Get in touch with us on Twitter via @AcctsDaily and join conversations with your peers on accountantsdaily.com.au
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For further information visit www.accountantsdaily.com.au or email editor@accountantsdaily.com.au
In this episode of Under the Hood, Accountants Daily journalist Carlos Tse is joined by Eddie Griffith, chairman of the Affiliation for Business Resilience & Turnaround (ABRT), to discuss the pressures facing small businesses, the "missing middle" between starting a business and insolvency, and the role accountants can play in helping struggling businesses. Tune in to hear more about:
- The gap in support for businesses that are struggling but not yet at the point of insolvency.
- How stress can cause business owners to have tunnel vision.
- The risks of "quick fix" loans marketed to vulnerable business owners.
- Why proactive communication between accountants and their small business clients is crucial.
- The connection between business health and the mental health of business owners.
- How accountants can help clients navigate financial distress.
- What supports do small businesses need moving forward?
In this special episode of Accountants Daily Insider, produced in partnership with Taxy, we unpack why practitioners should tune out the noise around AI and get back to basics, freeing up time in the day to focus on the client experience. Host Jerome Doraisamy and Taxy co-founder and chief executive Amanda Walker discuss:
- The state of the profession coming into the 2027 financial year.
- The real cost of delays in a tax job.
- Why clients go quiet on their accountant.
- The role of technology providers in supporting accountants.
- The growing regulatory pressure on practices.
To learn more about Taxy, click here.
This week on UTH, Emma is joined by Craig Robinson, KPMG workforce and innovation partner, to break down common misconceptions about Australia's tax residency rules amid geopolitical instability and unconventional working arrangements that are sparking fresh uncertainties.
Tune in to hear more about:
- Common misconceptions about tax residency rules, including the 183-day rule.
- Why the ATO is unlikely to offer tax relief to returning expats affected by war.
- Tax traps arising for travel influencers and digital nomads.
- Why the ATO's tax residency criteria are broader than most people think.
You can contact the Accountants Daily team and podcast host Emma at emma.partis@momentummedia.com.au.
In this episode of Under the Hood, former Accountants Daily journalist Emma Partis is joined by Elenie Carey, chief technology officer of audit and assurance at KPMG Australia, to discuss how AI is reshaping auditing, facilitating deeper data analysis, and enhancing audit quality, all while reinforcing the importance of human judgement. Tune in to hear more about:
- How AI is allowing auditors to move beyond sampling to analyse entire data populations.
- The importance of human judgement and professional scepticism in an AI-enabled audit.
- The frameworks firms need for responsible AI adoption.The impact that AI is having on changing the skills auditors and junior professionals need to succeed.
- What the next 10 years look like for the audit profession in the context of AI, agentic workflows, and emerging technologies.
In this special episode of Accountants Daily Insider, produced in partnership with Business Automation Works (BAW), the team behind ATOmate and Omble, we explore changes to how the ATO is managing debt and compliance, and what those changes mean for accounting practices. Host Jerome Doraisamy and Stan Corner, CEO and founder of Business Automation Works (BAW), discuss:
- The biggest changes to the ATO's approach in recent years.
- The types of activity being undertaken by the ATO that practices should be paying attention to.
- Who receives a DPN and how accounting practices become aware of them.
- Ongoing PAYG challenges.
- Management of ATO communications.
- How ATOmate helps practices become more proactive.
Click here to learn more about Business Automation Works (BAW), ATOmate and Omble, click here.
In this episode of Under the Hood, Accountants Daily journalist Carlos Tse is joined by Nick Urry, founder and managing director of Dexterous Group, to discuss the current state of AI adoption across accounting, how firms can achieve genuine ROI, choosing the right technology partners, and what the future of AI means for the profession. Tune in to hear more about:
- Where AI adoption currently stands across the accounting profession.
- Why there is no one-size-fits-all approach to AI tools.
- How firms can measure genuine return on investment from AI initiatives.
- Why AI is not "set and forget" and requires the right mindset and implementation.
- How accountants can prepare for the evolving role of AI while continuing to add value through advisory and relationships.
Our friends Heather Smith and Tyler Caskey are back to provide an update on technological features, functionalities, and happenings across the accounting profession, from the recently-ended quarter.
Tune in to hear more about:
- Lessons from a recent email hack.
- Redundancies across the market.
- A new partnership between between large tech providers.
- Reflections on leveraging technology in an evolving regulatory landscape.
In this special episode of Accountants Daily Insider, produced in partnership with The InvestorKit Group, we explore the paradox of accountants being able to build successful businesses, but simultaneously struggling to generate wealth for themselves, and how they can look to change this in the new financial year. Host Jerome Doraisamy speaks with The InvestorKit Group founder and CEO Arjun Paliwal about:
- His personal wealth creation journey.
- How and why he believes accountants delay wealth creation for themselves.
- Why the skills required to building a successful business don't always translate to one's personal financial success, and why accountants aren't always leveraging their advantages properly.
- The big mistakes accountants make regarding their own finances.
- Lessons that accountants can learn, and what they should be valuing right now.
- How best accountants can get started on this journey in FY27.
To learn more about InvestorKit, click here.
On this month's episode of Advisory Advantage, host Brent Szalay is joined by Noel Tiufino, chief executive of My Accounts, to discuss what sits behind an accountant's decision to invest in themselves and their businesses. Tune in to hear more about:
- The perception of value for business investments.
- How accountants get themselves ready to offer services.
- Making business plans for the new financial year.
- Being a salesperson to win more work.
- Overcoming fears about tough conversations with clients.
Leaders in Business: Don't guess where you sit on the advisory spectrum – test it. Take the Client Advisory Readiness Quiz. It'll show you where you're already thriving, and where the right structure, tools and clarity could take you further, beyond the numbers.
Advisory Readiness Quizhttps://advisoryreadinessquiz.scoreapp.com/?utm_source=accoutantsdaily&utm_medium=podcast&utm_campaign=weblink
Free Toolhttps://leadersinbusiness.com.au/wp-content/uploads/2026/04/Analyse-Clients-Workbook_LeadersinBusiness.pdf?utm_source=accoutantsdaily&utm_medium=podcast&utm_campaign=weblink
In this special episode of Accountants Daily Insider, produced in partnership with SavvyWise, we discuss the critical importance of accountants having readily accessible information and analysis about the profession's myriad changes so they can better service clients and manage their practices. Host Jerome Doraisamy speaks with Adrian Cartland, principal of Cartland Law, about:
- How and why he is producing a series of volumes for The Practitioner's Library in conjunction with SavvyWise.
- What the library intends to achieve and provide for accountants across the country.
- The market conditions driving demand for more readily accessible resources for practitioners.
- How accountants can best leverage new platforms available to them to better service clients and run successful firms.
To learn more about SavvyWise and The Practitioner's Library, click here.
In this episode of Under the Hood, Accountants Daily journalist Carlos Tse is joined by Rob Pillans, founder of Planet Consulting, to discuss offshoring, workplace culture, accountability, AI, and the biggest priorities for small firms for the next 12 months. Tune in to hear more about:
- The biggest shifts occurring in offshoring solutions.
- Creating a positive workplace environment.
- Applying the "accountability equation" and using language wisely.
- How AI is changing the skills mix.
- The biggest priorities for small accounting firms over the next 12 months.
In this special episode of Accountants Daily Insider, produced in partnership with CreditorWatch, we reflect on how accountants are often the last line of defence for SMEs, and how they can intervene earlier by identifying warning signs to better support clients.
Host Jerome Doraisamy speaks to Patrick Coghlan, co-founder and chief executive of CreditorWatch, about:
- What the data suggests accountants need to be paying attention to right now.
- High levels of late payments being seen.
- What CreditorWatch's business risk index currently says about business conditions and headline takeaways from those insights.
- The idiosyncratic challenges facing different sectors.
- How concerned accountants need to be right now about insolvency risks, the signals to look out for, and the steps to take
- Ensuring optimal service for clients.
To learn more about CreditorWatch, click here.
In this episode of Under the Hood, Robyn Jacobson (pictured), senior advocate at the NTAA, talks Payday Super, the closure of the SBSCH, changes to the ATO app, and the federal budget.
Tune in to hear more about:
- The new features that the ATO has introduced on its app to protect against fraud and scams.
- What to know before the Small Business Superannuation Clearing House closure at midnight on 30 June.
- How Payday Super is changing employer obligations and compliance.
- What the changes announced in the budget mean for CGT, negative gearing, and trusts.
- How accountants can navigate the increased compliance, regulatory change, and uncertainty in the profession.
Editor's note: This episode was recorded on 27 May 2026, prior to the unveiling of changes to a number of reforms flagged in the recent Federal Budget.
In this special episode of Accountants Daily Insider, produced in partnership with Pinch Payments, we explore the evolution of accounting practices against the backdrop of the advent of tech and AI, the evolving client experience, and what it all means for practitioners on the ground.
Host Jerome Doraisamy speaks to Emily Emberson, channel success manager for accounting and bookkeeping at Pinch Payments, about:
- How accountants can and should be viewing their roles in times of change.
- Where accountants are going wrong in adapting to new ways of working.
- How technology is improving client experiences.
- Overcoming unnecessary friction in tech onboarding and processes.
- What high-performing and efficient accounting practices will look like in years to come.
- The holistic duty to influence business outcomes for the better.
In this episode of Under the Hood, Accountants Daily journalist Carlos Tse is joined by Lee-Ann Hayes, head of education at Accurium and TaxBanter, to discuss the biggest developments affecting property tax, including proposed CGT reforms, the Morton case, granny flat arrangements, holiday home deductions, and the challenges facing accountants following the federal budget.
Tune in to hear more about:
- Why the latest CGT changes mean accountants need to relearn the rules.
- What the Morton case meant for property developments and the mere realisation of capital assets.
- How current granny flat arrangements could impact eligibility for the main residence exemption.
- The significant changes the ATO's holiday home guidance may bring to deduction claims for many property owners.
- The practical challenges accountants face as clients seek advice on proposed tax reforms and property investments.
In this special episode of Accountants Daily Insider, produced in partnership with MYOB, we explore what accounting professionals need from technology at this point in time, and how they should be reflecting on the development of technology into the future.
Host Jerome Doraisamy speaks to Liam Hindle, general manager of practice product at MYOB, about:
How much the accounting software landscape has shifted in recent years. The pivot to advisory-based services. What MYOB is doing to better support accountants right now. What accountants should know about tech providers like MYOB. Predictions for accounting technology ahead of 2030.
In today's episode of Under the Hood, Accountants Daily journalist Carlos Tse is joined by JD Scott & Co founder James Scott (pictured) to discuss his experience as a small-business owner, navigating burnout, hiring, AI, and the impacts of the budget
Tune in to hear more about:
- The importance of small-business owners maintaining perspective for burnout management.
- Why effective succession planning depends on transparency, communication, and aligning expectations across generations.
- The non-accountant professional and what they can bring to firms.
- How AI is eliminating low-value administrative work and allowing accountants to focus on higher-value client advisory services.
In this episode of Under the Hood, Accountants Daily journalist Carlos Tse is joined by Michael DePrisco, president and CEO of the Institute of Management Accountants, to discuss how accounting and finance professionals can begin adopting AI, the importance of data quality and governance, the changing skills landscape for accountants, and why curiosity, experimentation, and continuous learning will be critical over the next 12 months.
Tune in to hear more about:
- What accounting firms and finance teams must do before implementing AI.
- How firms are currently delivering efficiency gains with AI.
- Why clean, integrated, and well-governed data is essential for successful AI adoption.
- How finance and IT teams can work together to establish effective AI governance frameworks.
- The key skills for accounting professionals in the AI transformation in the years ahead.
In this episode of Under The Hood, host Jerome Doraisamy speaks with Bec Argent, director of Argent Tax & Advisory, about how in the days of the hour-based accountant, and in a time of voluminous change, emerging leaders in the accounting profession must identify and implement new and better ways to both service clients and run their businesses.
Tune in to hear more about:
- How and why Bec wanted to strike out on her own.
- How young accountants can thrive in a changing landscape.
- What she's learned about herself as a practitioner since launching her own firm.
- What innovation means to her, and the need to keep challenging herself.
- What emerging practitioners can learn from her experience.
In this episode of Under the Hood, Accountants Daily graduate journalist Carlos Tse is joined by Natalie Lennon, founder of Two Sides Accounting, to discuss her experiences running her accounting business since she was last on the show in 2025, how AI applies to accounting, the 2026 federal budget, and how small accounting firms can stay competitive and resilient in the next 12 months.
Tune in to hear more about:
- How to approach fee increases in light of looming AML/CTF and Payday Super changes.
- How small accounting firms can use AI in their business.
- The wins and losses for accountants and small firms in the 2026 federal budget.
- The impacts of the budget's instant asset write-off and loss carry-back changes on accountants and small businesses.
- How small accounting firms can succeed over the next 12 months.
In this special episode of Accountants Daily Insider, produced in partnership with The Access Group, we reflect on the headline takeaways from and implications of the 2026 budget, and how much it will change the game for accounting practitioners. Host Jerome Doraisamy speaks with David Boyar from The Access Group and ChangeGPS to discuss what was learned from Jim Chalmers' fifth federal budget, the tax changes to be made, how practitioners are responding to these changes, and why a holistic approach moving forward will be essential.
Boyar also delves into what the budget means for clients across the spectrum, how practitioners can and should interpret their AML obligations post-budget, the opportunities inherent in the looming changes, the need to better leverage technology, whether some practitioners will call it a day moving forward, and other predictions for accounting leaders in the next five years, and the latest updates to ChangeGPS.
To learn more about The Access Group, click here, and to register for The Access Group's upcoming federal budget webinar, click here.
This week on UTH, Emma is joined by Arthur Athanasiou, tax lawyer and Principal at AGA Legal, to discuss the TPB's proposed sanctions reforms and how to stay compliant as tax agent regulations change at a dizzying pace.
Tune in to hear more about:
- Proposed TPB sanctions reforms which could see penalties skyrocket.
- Why it's important to keep client engagement letters up to date.
- Key updates to the TASA code of professional conduct.
- The importance of being proactive about compliance.
You can contact the Accountants Daily team and podcast host Emma at emma.partis@momentummedia.com.au.
This week on UTH, Emma is joined by lawyer and anti-money laundering specialist Fiona Halsey to discuss all things AML/CTF, why accountants have been brought into the regime, how to prepare for it, and the high stakes of non-compliance.
Tune in to hear more about:
- Fiona's career journey and how she got to where she is today.
- Why it's critical to figure out whether or not you're captured by the AML/CTF regime.
- How to get started if you're covered under the new rules.
- The stakes of getting compliance wrong.
- Why AML/CTF has been expanded to include accountants.
You can contact the Accountants Daily team and podcast host Emma at emma.partis@momentummedia.com.au.
On this month's episode of Advisory Advantage, host Brent Szalay is joined by Noel Tiufino, chief executive of My Accounts, to discuss the benefits of building a client base with intention, the perks of specialising and how good conversations lead to better client outcomes.
Tune in to hear more about:
- How to choose your clients intentionally and strategically.
- Why advisory is about asking the right questions.
- How specialising can help reduce capacity issues.
- Why it's important to regularly review your client base.
- The importance of collaboration and co-creation in advisory.
Leaders in Business: Don't guess where you sit on the advisory spectrum – test it. Take the Client Advisory Readiness Quiz. It'll show you where you're already thriving, and where the right structure, tools and clarity could take you further, beyond the numbers.
Advisory Readiness Quizhttps://advisoryreadinessquiz.scoreapp.com/?utm_source=accoutantsdaily&utm_medium=podcast&utm_campaign=weblink
Free Toolhttps://leadersinbusiness.com.au/wp-content/uploads/2026/04/Analyse-Clients-Workbook_LeadersinBusiness.pdf?utm_source=accoutantsdaily&utm_medium=podcast&utm_campaign=weblink
This week on UTH, Emma and co-host Lee-Ann Hayes are joined by Mark Ellem, head of SMSF education at Accurium, to bust some myths about Division 296 and chat through some of the technical specifics of the recently passed bill.
Tune in to hear more about:
- Mark's career journey and how he got to where he is today.
- Common Div 296 myths.
- The bill's unexpected impacts on estate planning.
- How Div 296 has affected technical complexity in SMSFs.
- Mark's advice for high-net-worth individuals.
You can contact the Accountants Daily team and podcast host Emma at emma.partis@momentummedia.com.au.
Accountants in the past have suffered from information overload from the vast amounts of financial information collected from clients, but AI is now allowing them to interpret this data into simple, meaningful insights.
Leaders in Business managing director Brent Szalay and My Accounts CEO Noel Tiufino discuss what this means for the role of advisory as large language models continue to evolve at an exponential rate.
Szalay explains that just like a doctor with decades of patient records, AI is enabling accountants to efficiently identify patterns and potential risks from the financial data of clients "before they become chronic issues".
However, while AI can analyse the data and provide insights, Szalay stressed that accountants play an important role in bridging the emotional gap by understanding their clients' goals and values and supporting them in their journey.
Tiufino and Szalay also offer practical tips and tools including an adviser readiness quiz that can help practitioners evaluate where they may be falling short. Leaders in Business: Don't guess where you sit on the advisory spectrum, test it. Take the Client Advisory Readiness Quiz. It'll show you where you're already thriving, and where the right structure, tools and clarity could take you further, beyond the numbers.
Don't forget you can claim CPD points for listening to Advisory Advantage podcasts.
On this episode of Accountants Daily Insider, Jerome is joined by Drew Pflaum, co-founder and chief executive of SavvyWise, to chat about how his company is helping accountants adapt to the AI-powered future.
The pair cover:
- Why early AI adopters have a real advantage.
- How AI can save time and alleviate burnout.
- Why success depends on implementation, not just tools.
- Drew's thoughts on how AI is reshaping the business model of accounting.
- How SavvyWise has been built by an accountant, for accountants.
If you would like to know more about SavvyWise and how it could help transform your accounting firm, visit the website here.
This week on Under the Hood, we hear from our friends Heather Smith and Tyler Caskey, co-hosts of the Accounting Apps Podcast. In this episode, Heather and Tyler cover the flurry of new AI tools emerging in Q1 2026, and other developments in the accounting tech space.
Tune in to hear more about:
- How AI is rapidly transforming accounting workflows.
- Major platforms that are evolving into all-in-one ecosystems.
- New automated features that promise to reduce admin.
- How rising API costs might affect new apps.
- Upcoming local and global accounting conferences.
You can contact the Accountants Daily team and podcast host Emma at emma.partis@momentummedia.com.au.
This week on UTH, Emma is joined by public practice accounting recruiter Christine Foggiato to talk about the current hiring landscape, the top perks her clients are looking for and how AI is shifting the skills firms are prioritising in candidates.
Tune in to hear more about:
- Christine's career journey and how she got to where she is today.
- What separates firms that struggle to hire from those that easily attract talent?
- The top perks her clients have been looking for in employers.
- How AI, offshoring and talent shortages have affected the hiring landscape.
- The skills firms are prioritising in the AI landscape.
You can contact the Accountants Daily team and podcast host Emma at emma.partis@momentummedia.com.au.
This week on UTH, Emma is joined by Grant Thornton's national head of technical tax, David Montani, to chat about his new book, Tax Wars, which tackles the political forces behind Australia's tax reform gridlock.
Tune in to hear more about:
- David's career journey and how he got to where he is today.
- What inspired him to write Tax Wars?
- The difference between holistic and piecemeal tax reform.
- Mythbusting common policy misconceptions.
- Why the average Australian should care about tax reform.
You can contact the Accountants Daily team and podcast host Emma at emma.partis@momentummedia.com.au.
This week on UTH, Emma is joined in the studio by Ben Johnston, director of Johnston Advisory, to talk through the challenges and highlights of advising unconventional clients, including entrepreneurs, athletes and creatives.
Tune in to hear more about:
- Ben's career journey and how he got to where he is today.
- What it's like to advise surfers, creatives and entrepreneurs.
- The challenges of structuring wealth for non-traditional, non-linear careers.
- Property asa tried and true wealth-building strategy.
- Challenging accounting stereotypes, perceptions versus reality.
You can contact the Accountants Daily team and podcast host Emma at emma.partis@momentummedia.com.au.
This week on UTH, Jerome Doraisamy speaks with Adrian Cartland, principal solicitor at Cartland Law, about what he sees as necessary taxation changes for South Australia, which formed the basis of a manifesto he published ahead of the state's election later this month.
Tune in to hear more about:
- Lingering issues with SA's taxation system.
- The "uncontroversial" changes that the state government can and must make.
- Cartland's views on anti-overtaxing provisions, payroll tax grouping provisions, a consistent definition of charity across tax laws, and more.
- How the state of SA could benefit from needed tax changes.
- How individual practitioners can better advocate for needed change.
You can contact the Accountants Daily team at editor@accountantsdaily.com.au.
On this episode of Accountants Daily Insider, Imogen is joined by John Munden, chief strategy officer at Cloudoffis, to chat about the importance of curiosity in the evolving world of technology.
Tune in to hear more about:
- John's expansive career.
- Perspective on navigating large scale change across technology waves.
- The importance of human-centered AI.
- Why some accounting firms may be experiencing software fatigue.
- What the future of accounting technology looks like.
If you would like to learn more about Cloudoffis, you can visit its website here.
On this month's episode of Advisory Advantage, co-hosts Imogen and Brent are joined once again by Dr Marli Watt to chat about how mindset can be the biggest barrier to advisory, the importance of leaning into discomfort and how perfectionism can keep accountants stuck.
Tune in to hear more about:
- How mindset, not capability, can be the biggest barrier to getting into advisory.
- The value of a 'progress over perfection' mindset.
- How small actions can build confidence and capability.
- Why presence and curiosity are essential to effective advisory.
- How leaning into discomfort can help you master new skills.
Leaders in Business: Don't guess where you sit on the advisory spectrum – test it. Take the Client Advisory Readiness Quiz. It'll show you where you're already thriving, and where the right structure, tools and clarity could take you further, beyond the numbers.
Don't forget you can claim CPD points for listening to Advisory Advantage podcasts.
For Imogen's final UTH episode, she joins Emma in the studio to reflect on her journey growing the podcast, share behind-the-scenes stories and challenges, and to talk about what's next.
Tune in to hear more about:
- Imogen's career journey and how she got to where she is today.
- What two years reporting on the accounting industry has taught her.
- Imogen's favourite (and least favourite) accounting topics to report on.
- How she picks her guests for UTH, and what she'll miss the most about the pod.
- Her guiding principles in creating thoughtful, industry-focused journalism.
You can contact the Accountants Daily team and podcast host Emma at emma.partis@momentummedia.com.au.
This week on UTH, Imogen is joined in the studio by accounting practice coach, Amanda Gascoigne, to break down what it truly means to embody "better practice, better life".
Tune in to hear more about:
- Amanda's career journey and how she got to where she is today.
- Why coaches and mentors are key in helping practice owners achieve success.
- How the accounting industry has changed over the last 27 years.
- The benefits of reaching out for help.
- Amanda's key roles as part of the GST Stewardship Group and TPB Board.
You can contact the Accountants Daily team and podcast host Imogen at imogen.wilson@momentummedia.com.au.
This week on UTH, Imogen is joined by co-host Lee-Ann Hayes to chat about the upcoming changes to rental property and holiday home deductions put in motion by the ATO.
Tune in to hear more about:
- What the rental property/holiday home changes are and what they will mean.
- When and why the ATO has announced the upcoming changes.
- How property owners and accountants will be impacted.
- What can be done to prepare for the changes.
- Lee-Ann's professional perspective of the change.
You can contact the Accountants Daily team and podcast host Imogen at imogen.wilson@momentummedia.com.au.
This month on Advisory Advantage, Brent and Imogen sit down to chat about the 'clarity window' and the crucial timing in turning dreams and goals into reality and strategic action.
Tune in to hear more about:
- Brent and Imogen's holiday recaps.
- The clarity window.
- Turning client's goals into strategy and action.
- How to help yourself, colleagues and clients with intentions.
- The calendar problem and how to tackle it.
Leaders in Business: Don't guess where you sit on the advisory spectrum, test it. Take the Client Advisory Readiness Quiz. It'll show you where you're already thriving, and where the right structure, tools and clarity could take you further, beyond the numbers.
Don't forget you can claim CPD points for listening to Advisory Advantage podcasts.
This week on UTH, Imogen is joined by Tim Goodrick, financial crime and forensic team partner at KPMG, to talk about everything accountants need to know as AML/CTF rules come into play.
Tune in to hear more about:
- What the anti-money laundering and counter-terrorism finance laws are and what they mean.
- When accountants must start complying.
- How accountants can make a start in implementing their obligations into daily workflows.
- The upskilling, knowledge and understanding involved.
- The challenges, red flags and risks to steer clear of.
You can contact the Accountants Daily team and podcast host Imogen at imogen.wilson@momentummedia.com.au.
In this first episode of Under the Hood for 2026, Imogen is joined by co-host Lee-Ann Hayes to reflect on the "relatively quiet" tax landscape over the course of last year.
Tune in to hear more about:
- Lee-Ann's perspective of the tax developments, or lack thereof, in 2025
- The handful of bills we had
- Action from the courts
- ATO focus areas
- Expectations for 2026
You can contact the Accountants Daily team and podcast host Imogen at imogen.wilson@momentummedia.com.au.
On this week's Christmas episode of Under the Hood, we receive a contribution from our friend Heather Smith with an episode of her Accounting Apps Podcast. In this episode, Smith provides a look back on 2025 with a recap of the developments in the accounting app space!
Tune in to hear more updates about:
- Practice management
- Workpapers
- Receipt scanning
- Management reporting
- What's coming up in early 2026!
On this month's episode of Advisory Advantage, co-hosts Imogen and Brent are joined by their first guest, Dr. Marli Watt. The trio chat about the skill that separates technical experts from true advisers, and the ability to communicate in a way that builds trust, clarity and influence.
Tune in to hear more about:
- The importance of communication.
- The "inner-world" perspective.
- Why trust in advisory is different to trust in the numbers.
- The power of listening.
- This month's game-changer move!
Leaders in Business: Don't guess where you sit on the advisory spectrum – test it. Take the Client Advisory Readiness Quiz. It'll show you where you're already thriving, and where the right structure, tools and clarity could take you further, beyond the numbers.
Don't forget you can claim CPD points for listening to Advisory Advantage podcasts.
On this week's episode of Under the Hood, we are joined by Heather Smith, founder of Anise Consulting and host of the Accounting Apps Podcast host, to unpack and understand the severity of financial elder abuse.
Disclaimer: This is a significantly dark and unfortunate topic that some listeners may find uncomfortable or triggering.
Tune in to hear more about:
- What financial elder abuse is and what forms can be most commonly identified.
- Why it's an issue usually swept under the rug.
- What accountants can do to identify and stop financial elder abuse in its tracks.
- How practitioners can balance confidentiality with duty of care.
- What to do next if you're suspicious of financial elder abuse.
You can contact the Accountants Daily team and podcast host Imogen at imogen.wilson@momentummedia.com.au.
This week on Accountants Daily Insider, Drew Pflaum, co-founder and chief executive of SavvyWise, joins Imogen in the studio to chat about his mission to revolutionise the AI landscape in accounting firms for tax professionals.
Tune in to hear more about:
- What SavvyWise is all about and its mission in the tax and AI world.
- How SavvyWise has grown exponentially in just six months.
- Drew's extensive background of being an accountant.
- The countless opportunities AI presents tax professionals.
- The effective and efficient key to adoption.
If you would like to know more about SavvyWise and how it could transform your accounting firm, visit their website at https://www.savvywise.com.au/.
This week on UTH, Imogen is joined by Sharon McClafferty, chief executive of Slipstream Group, to chat about growth, goals and identifying the right path forward.
Tune in to hear more about:
- Sharon's background and journey to becoming CEO of Slipstream.
- What drives her to help accounting firms achieve their goals.
- How she finds and recruits coaches.
- Her approach to working with new clients.
- What's next for Slipstream.
You can contact the Accountants Daily team and podcast host Imogen at imogen.wilson@momentummedia.com.au.
On the second episode of Advisory Advantage hosted by Brent Szalay and Imogen Wilson, the pair break down the 12 traps accountants often fall into when trying to jumpstart their advisory journey.
Tune in to hear about:
- The three buckets the 12 traps fall into: mindset, structure and culture.
- Why a solid strategy is always the answer.
- Purpose versus production.
- The human skills gap.
- This month's game changer move!
Leaders in Business: Don't guess where you sit on the advisory spectrum – test it. Take the Client Advisor Readiness Quiz. It'll show you where you're already thriving, and where the right structure, tools and clarity could take you further, beyond the numbers. Don't forget you can claim CPD points for listening to Advisory Advantage podcasts.
This week on UTH we are joined once again by Miriam Holme and David Perrott of FAB Tax to chat about all things SMSFs and superannuation – what you can do, what you shouldn't do and what needs to change.
Tune in to hear more:
- How Miriam bought her business property through her SMSF.
- The controversy associated with this, how it can be accomplished and why it could be a potential option for some people.
- The sole purpose test and the cruciality associated with sticking to it.
- David's professional perspective and thoughts on SMSF purchases and the super industry as a whole.
- Real life examples of when and how it has worked, and when it really hasn't.
You can contact the Accountants Daily team and podcast host Imogen at imogen.wilson@momentummedia.com.au.
Jarvis Archer, Business Reset director and registered liquidator, joins us on UTH this week to share his renowned expertise in insolvency, SBR, and the small business landscape.
Tune in to hear more about:
- Jarvis' current outlook on the insolvency industry.
- When, how and why SBR works versus when it doesn't.
- Director penalty notices and director loans.
- Jarvis' prediction for the future of small businesses and insolvency.
Tune into the upcoming Business Reset webinar on phoenixing here: https://b-reset.info/4ooKyfP
You can contact the Accountants Daily team and podcast host Imogen at imogen.wilson@momentummedia.com.au.
This week on UTH, we are celebrating one year with Natalie Lennon, founder and director of Two Sides Accounting. Natalie shares the challenges and big wins involved with starting your own firm shaped around personal goals, values and ambitions.
Tune in to hear more about:
- Nat's journey to founding and running her own accounting firm.
- Understanding Gen Z in the workplace.
- How Two Sides transformed over time to become what it is today.
- How Nat helps and communicates with her clients.
- How to build confidence in taking the leap.
You can contact the Accountants Daily team and podcast host Imogen at imogen.wilson@momentummedia.com.au.
As regulations get more complex, accounting firms are teaming up with brokerages to give their clients better financial outcomes. Tune in to this episode of Accountants Daily Insider to hear from Tom and Ben Hawley, founders of Azura Financial, to find out how brokers and accountants can create strategic relationships to help clients and drive further business.
Tune in to hear more about:
- Why should there be strategic collaboration between the broking and accounting professions?
- How accountants can lean on, and leverage, brokers.
- Differences in finances that accountants and brokers need to be aware of.
- The outlook of the accountant-broker relationship over the next five years.
This week on the Accountants Daily Podcast Network we are introducing Brent Szalay, managing director of Leaders in Business, to the first episode of a new 12-month series. Over the next 12 months, Szalay will be chatting with co-host Imogen about all things 'advisory', sharing what the f*** it actually is, and how accountants can be doing it better.
Tune into the first episode to hear more about:
- What advisory actually means.
- Why accountants aren't actually doing it.
- The unique needs of clients and why they need to be listened to.
- The impact of being strategic, rather than reactive.
- Szalay's first game-changer move.
Leaders in Business: Don't guess where you sit on the advisory spectrum – test it. Take the Client Advisory Readiness Quiz. It'll show you where you're already thriving, and where the right structure, tools and clarity could take you further, beyond the numbers. Don't forget you can claim CPD points for listening to Advisory Advantage podcasts.
Artificial intelligence is the topic the entire accounting industry can't get enough of, with it likely to impact every aspect of the profession. On this insightful episode of the Accountants Daily Insider, ISACA director of event content development, Paul Phillips, joins all the way from the US to share professional expertise and advice about how ISACA is revolutionising the audit profession alongside AI.
More Australian auditors can now pursue the world's first and only audit-specific artificial intelligence certification, with ISACA expanding eligibility for its ISACA Advanced in AI Audit (AAIA) certification to include CPAs and FCPAs from CPA Australia.
Built on ISACA's trusted expertise in IT audit and the rigorous standards behind these renowned credentials, AAIA validates expertise in conducting AI-focused audits, addressing AI integration challenges and enhancing audit processes through AI-driven insights. The credential covers the key domains of AI governance and risk, AI operations, and AI auditing tools and techniques.
Phillips shares this and more in the latest episode of The Accountants Daily Insider. Tune in!
On this co-hosted episode of Under the Hood, Imogen and Lee-Ann talk about the various changes in the super landscape as of late. From the introduction of Payday Super legislation to parliament to Treasurer Jim Chalmers' shock Div 296 announcement, the pair unpack it all.
Tune in to hear more about:
- Payday Super and its current timeline.
- A deep dive into how Payday Super will impact businesses, employers and employees.
- Details on the ATO's practical guidance.
- How Lee-Ann felt about shock Div 296 changes.
- What the changes were and what they will mean for the super and tax space.
- Lee-Ann's professional perspective, thoughts and opinion on the two subject areas.
You can contact the Accountants Daily team and podcast host Imogen at imogen.wilson@momentummedia.com.au.
This week on Under the Hood, Imogen is joined by the podcast legends themselves, Tim Garth and Dan Osborne, aka Two Drunk Accountants. Tim and Dan share their own business story, their perspective of AI, and the wins and challenges associated with running a small business.
Tune in to hear more:
- How the Two Drunk Accountants came to be.
- How Tim and Dan feel towards AI.
- Expectations of where the accounting industry is headed.
- Xerocon product announcement recaps.
- A 'cheers' or two.
If you would like to contact Imogen and the Accountants Daily team, you can reach her at imogen.wilson@momentummedia.com.au.
This week on UTH, Imogen is joined by co-host Lee-Ann Hayes and guest Tiffany Douglas, tax training team lead at TaxBanter, to recap the infamous Bendel case. As the High Court is set to hear the case once again on 14 October, Lee-Ann and Tiffany unpack all possible outcomes.
Tune in to hear more about:
- Recap of the Bendel case, and what has happened so far.
- Why this case is so popular and well-known throughout the tax community.
- What would happen if the taxpayer won.
- What would happen if the ATO won.
- Lee-Ann & Tiffany's professional perspective of the case, its implications, and their predictions.
You can contact the Accountants Daily team and podcast host Imogen at imogen.wilson@momentummedia.com.au.
Joining UTH this week is My Accounts managing partner, Noel Tiufino, to chat about all things business, technology, guided strategy and human leadership. With multiple laughs along the way, Noel shares his insights into what it means to stay ahead of the curve.
Tune in to hear more about:
- Noel's career path and how it led him to where he is today.
- Noel's thoughts and feelings about the rapid technology transition.
- Projects Noel is working towards, plus some upcoming events.
- Why human leadership is the key characteristic all businesses must keep intact.
- How My Accounts has adapted to the evolving landscape.
You can contact the Accountants Daily team and podcast host Imogen at imogen.wilson@momentummedia.com.au.
On this episode of Accountants Daily Insider, we hear from head of growth and customer success at Pinch Payments, Joe McCord. Joe delves into Pinch's business strategies, goals and achievements and how it helps businesses seamlessly manage their cash flow.
Tune in to hear more about:
- Innovative marketing channels.
- Payment options that help decrease cash flow overhead.
- How to leverage AI to become a 'Swiss army knife' of growth.
- What motivates and drives next-gen employees and how to get the most out of the new-era workforce.
This week on Under the Hood, Imogen invites colleague and fellow accounting journalist, Emma Partis, onto the podcast to delve into the ins and outs of Accounting Times. Emma shares the core difference between the two titles and details what makes her day in the accounting news world.
Tune in to hear more about:
- Key differences between Accountants Daily and Accounting Times.
- Overarching themes and topics Emma is reporting on frequently.
- An insight into what she looks for, what topics she enjoys and where she goes to when she needs professional insight.
- Imogen's summary into what Accountants Daily has been reporting on recently.
- Xerocon recap!
- What both Imogen and Emma have learnt during their time in the accounting news space.
You can contact the Accountants Daily team and podcast host Imogen at imogen.wilson@momentummedia.com.au.
This week on UTH, Imogen learns the ins and outs of family trust elections and family trust distributions tax with Robyn Jacobson, senior advocate at The Tax Institute.
Tune in to hear more about:
- Why there is increased interest in family trusts and family trust elections.
- The key features of family trust elections.
- FTE, FTDT, IEE, and what they all mean.
- Why Robyn describes FTDT as "unforgiving".
- Cases where FTDT liabilities are arising unexpectedly and/or impacting the ability to make distributions.
You can contact the Accountants Daily team and podcast host Imogen at imogen.wilson@momentummedia.com.au.
On this episode of the Accountants Daily Insider, Angus Sedgwick, chief executive of OptiPay, unveils the transformative potential of alternative financing, not just as a solution to cash flow challenges, but as a strategic tool for growth. As businesses and accountants navigate an increasingly complex economic landscape, the insights shared in this conversation serve as a valuable guide for leveraging financial innovation to drive success.
Tune in to hear more about:
- What OptiPay does and how it supports businesses.
- OptiPay's 'ideal client'.
- Misconceptions and stigma surrounding alternative financing.
- How accountants play a role within the business and alternative financing space.
This week, Kathi Tait, founder of Tradie Books and winner of Bookkeeper of the Year at the Australian Accounting Awards 2025, joins Imogen on UTH to share her views on how accountants and bookkeepers can strengthen their working relationship.
Tune in to hear more about:
- Kathi's career journey and business story.
- Her win at the Australian Accounting Awards 2025.
- A step-by-step guide on how bookkeepers and accountants can work more collaboratively.
- Kathi's plan to evolve and grow her business.
- How this small business is tackling and leveraging AI.
You can contact the Accountants Daily team and podcast host Imogen at imogen.wilson@momentummedia.com.au.
This week on UTH, Imogen is joined by business adviser Eddie Senatore to challenge the meaning and value provided by 'trusted advisers'. Eddie conducted comprehensive research into the advisory space and shares his findings behind the UTH mic.
Tune in to hear more about:
- Eddie's research and why he conducted it.
- The four key themes found within the research.
- What accountants do well and what they can do better.
- Case studies from Eddie's 35+ years in business.
- What needs to be done to fix the 'trusted adviser' myth.
You can contact the Accountants Daily team and podcast host Imogen at imogen.wilson@momentummedia.com.au.
This week on UTH, John Ioannou, national head of tax at Macpherson Kelley, jumps on to talk about tax reform, why it's needed, and what he expects the Economic Reform Roundtable to deliver.
Tune in to hear more about:
- John's perspective on tax and tax reform as an expert within the legal field.
- His recent appointment to The Tax Institute's National Council.
- What he believes needs to happen to deliver the best outcome for the tax community.
- The main challenges Australia faces with tax reform.
- His suggestions for the policymakers on the Economic Reform Roundtable.
You can contact the Accountants Daily team and podcast host Imogen at imogen.wilson@momentummedia.com.au.
This week on UTH, Sonia Gibson, founder of Accounting Heart, joins Imogen to chat about the importance of business succession, exit strategies, and why more business owners need to take the concept seriously.
Tune in to hear more about:
- What business succession means and why it's important.
- Why such a big gap in business succession knowledge exists.
- Succession and exit strategy advice.
- How accountants can facilitate smoother transitions between business owners.
- Pros and cons of selling to a third party v. family members or employees.
You can contact the Accountants Daily team and podcast host Imogen at imogen.wilson@momentummedia.com.au.
This week on Under the Hood, we hear from our friends Heather Smith and Tyler Caskey, co-hosts of the Accounting Apps podcast. Heather and Tyler share all the insider information you need to know about the technology space over the course of Q2 2025.
Tune in to hear more about:
- The latest in the accounting tech space over April, May and June 2025.
- Upcoming 'must go to' tech events.
- Airwallex x Wheel x NetSuite integration.
- Employment Hero v. Seek.
- Discussion on MYOB's recent development, Solo Money.
You can contact the Accountants Daily team and podcast host Imogen at imogen.wilson@momentummedia.com.au.
As businesses expand, their accounting needs evolve. In this episode we explore QuickBooks Online Advanced, the new and improved solution built for growth.
Is your client's business outgrowing their current accounting solution? This podcast dives into QuickBooks Online Advanced, the robust solution designed specifically for growing businesses with increasingly complex needs. We'll explore how Advanced offers unparalleled automation, customisation, and control, differentiating it from other QuickBooks Online versions.
Tune in to discover the ideal client profile for Advanced and equip yourself with the knowledge and resources to help your clients maximise their growth potential.
This week Sarah Lawrance, founder and chief executive of Hot Toast, joins UTH to talk about how she is staying ahead of the sustainability curve, welcoming AI and countless industry opportunities with open arms!
Tune in to hear more about:
- Sarah's recent dou at the Australian Accounting Awards 2025.
- How Hot Toast is approaching sustainability to help broader environmental goals.
- How Sarah is helping other practices, sole traders and accounting bodies prepare for sustainability changes.
- Where Sarah sees the accounting industry heading in the next five to 10 years.
- What's on for the rest of the year.
You can contact the Accountants Daily team and podcast host Imogen at imogen.wilson@momentummedia.com.au.
On this week's episode of UTH, Ankit Sharma, partner at Pitcher Partners, jumps on to talk about the tax and practical implications associated with becoming a partner in a professional services firm. With the promotion comes great responsibility – and a "lumpy" tax bill!
Tune in to hear more about:
- What it means to be promoted to partner.
- The considerations, training and learning it takes to 'make it' as a partner.
- Practical and tax implications that come hand-in-hand with the role.
- What this means for superannuation.
- Sharma's advice on how to tackle the role and promotion.
You can contact the Accountants Daily team and podcast host Imogen at imogen.wilson@momentummedia.com.au.
This week Miriam Holme and David Perrott from Fab Tax join Imogen on UTH to chat about their thoughts on GST reform, its history and if it is a framework that needs to be revised. Their take on GST might surprise you!
Tune in to hear about:
- Why GST was first introduced.
- How GST was first proposed to the Australian community and the history beforehand.
- Why GST is effective and why your clients should stop worrying about it.
- The complications surrounding GST and the valid argument for reform.
- Other taxes and topics that should be revised first.
You can contact the Accountants Daily team and podcast host Imogen at imogen.wilson@momentummedia.com.au.
This week on UTH, Alan FitzGerald, founder of Practice Connections Advisory, and Matthew Peng, managing director of Business Continuum, join Imogen to share their thoughts on the IT knowledge gap in accounting firms, why it needs crucial attention and what they're doing to fix it. As the technology space rapidly evolves, accounting firms are being left in the dust at a time they need to pick up their game.
Tune in to hear more about:
- What the IT knowledge gap is and why it exists.
- Why accounting firms are struggling with the fast-paced evolution of technology.
- Common misconceptions about technology within firms.
- How Alan and Matt plan to help close the IT knowledge gap.
- How closing the gap would improve the broader profession.
You can contact the Accountants Daily team and podcast host Imogen at imogen.wilson@momentummedia.com.au.
Peter de Cure, chair of the Tax Practitioners Board, is this week's guest on UTH. Delving into the requirements and obligations of the newly enforced Professional Code of Conduct changes, de Cure shares what he has been seeing, as well as what practitioners can and can't expect.
Tune in to hear more about:
- The changes to the code, what they mean and how they will impact the profession.
- What the TPB expects from small and large firms.
- Breach reporting and whistleblower protections.
- What this process has been like for the TPB.
- What de Cure expects to happen from here.
Should you opt out of small business depreciation rules?
This week on UTH, host Imogen is joined by Skye Francis, founder and director of 2PR, to chat about small business depreciation rules, how they apply and common misconceptions surrounding them. Skye personally chooses to opt out of these rules for the running of her business – tune in to find out why.
Imogen and Skye also cover:
- What the small business depreciation rules are and how they apply.
- Instant asset write-off and the small business depreciation pool v. section 40.
- How Skye feels personally and professionally about the instant-asset write off.
- Common traps and misconceptions associated with the rules.
- Advice for small business owners when looking to adopt/forego the rules.
You can contact the Accountants Daily team and podcast host Imogen at imogen.wilson@momentummedia.com.au.
On this episode of Under the Hood, Cameron Anderson, general manager of XBert, jumps on to share his journey about being a chartered accountant in tech and the opportunities and benefits it has given him.
Tune in to hear more about:
- Cam’s career journey in the accounting profession and how that led him to the world of tech.
- The biggest mindset and skill shifts he made when transitioning from traditional accounting to a tech-oriented role.
- The core accounting skills most transferable to the tech industry.
- Common misconceptions about accountants in the tech industry.
- Where Cam sees the future of accounting heading with the rise of tech.
You can contact the Accountants Daily team and podcast host Imogen at imogen.wilson@momentummedia.com.au.
Hank de Jonge, executive director of de Jonge Read, joins AD Insider to bring a rare combination of technical expertise and personal experience. After losing his own business more than 20 years ago, Hank spent the last two decades helping business owners across Australia avoid the same fate. In this episode, he shares what business owners and their advisers need to know when it comes to dealing with ATO debt, and why locking into a payment plan isn’t always the best move.
Tune in to hear more about:
- How Hank’s personal experience has shaped the work he does at de Jonge Read.
- Why ATO payment plans aren’t always the best long-term solution.
- The role accountants play in de Jonge Read’s process.
- Why small business restructuring is so popular.
- Advice for accountants and advisers with clients heading down the insolvency route.
You can contact Hank and his team at de Jonge Read at their website.
This week on UTH, we are back with co-host Lee-Ann Hayes, who delves into her upcoming session at the ACE25 Accounting Conference & Expo based on the ATO’s draft compliance guideline PCG 2024/D2 and Part IVA. Lee-Ann shares what can be expected on the day and what takeaways the attendees will leave with.
Tune in to hear more about:
- The details of the ACE25 Accounting Conference & Expo.
- The history and timeline behind the ATO’s draft compliance guideline PCG 2024/D2 and Part IVA.
- Why the guidance is significant for personal services businesses.
- Part IVA and the ATO’s role.
- Where the ATO will likely be targeting its compliance resources.
Tickets for the ACE25 Accounting Conference & Expo can be purchased here.
You can contact the Accountants Daily team and podcast host Imogen at imogen.wilson@momentummedia.com.au.
Did you know that accountants have certain benefits when looking to buy property? Cullen Haynes and Andrew Johnson, directors at Accounting Home Loans, join Imogen on UTH this week to talk about the benefits and opportunities available to accountants when looking to secure a home loan.
Tune in to hear more about:
- Recent cash rate decisions and what they mean for the housing market.
- The origin story behind Accounting Home Loans.
- Why accountants can access certain home loan benefits.
- The process behind securing a home loan and how accountants can do it.
- Why accountants should leverage their home loan opportunities.
You can contact the Accountants Daily team and podcast host Imogen at imogen.wilson@momentummedia.com.au.
On this week’s episode, host Imogen dives into the trends and insights of the insolvency landscape with expert and partner at Wexted Advisors, Chris Sequeira. Australian businesses are being challenged in the current market and Chris shares his perspective on what can be expected next.
Tune in to hear more about:
- What has happened in the insolvency space over the beginning of the year and where it will likely go next.
- Notable trends and patterns.
- The ATO and its role in the insolvency landscape.
- Small business restructuring and safe harbour provisions.
- Key indicators for when a business is headed for insolvency.
You can contact the Accountants Daily team and podcast host Imogen at imogen.wilson@momentummedia.com.au.
On this episode of UTH, Imogen is joined by Kylie Denton, director of Performance Advisory Group, to chat about accidental leadership and how it can impact a firm and its employees.
Tune in to hear more about:
- What an accidental leader is and how it occurs.
- The 25 core leadership competencies.
- Advice on how accidental leaders should tackle their new position to lead effectively.
- Biggest challenges accidental leaders often face.
- Kylie’s personal and professional experience with leadership and mentorship.
You can contact the Accountants Daily team and podcast host Imogen at imogen.wilson@momentummedia.com.au.
This week on UTH, we are back with another co-hosted episode to chat through the election and what we can expect to see, or not see, within the tax landscape. Imogen and Lee-Ann provide a recap of the front-of-mind tax issues and conversations being had around them.
Tune in to hear more about:
- The election outcome and what this means for the accounting profession.
- The $1,000 standard tax deduction.
- Division 296 and payday super.
- Division 7A and the Bendel case.
You can contact the Accountants Daily team and podcast host Imogen at imogen.wilson@momentummedia.com.au.
This week on Under the Hood, we hear from our friends Heather Smith and Tyler Caskey, co-hosts of the Accounting Apps podcast. Heather and Tyler share all the insider information you need to know about the technology space throughout Q1 2025.
Tune in to hear more about:
- Accounting technology events.
- Recent feature and functionality updates made to various accounting tech platforms.
- Personal experiences and opinions of particular updates.
- What is on the horizon for the technology landscape in Q2.
You can contact the Accountants Daily team and podcast host Imogen at imogen.wilson@momentummedia.com.au.
On this episode of UTH, Joyce Ong, founder of Tax Nuggets Academy, shares her journey of learning and development within the accounting space. According to Joyce, education within the tax space needs to be delivered in an engaging and entertaining manner to add enjoyment to the crucial learning area.
Tune in to hear more about:
- How and why Joyce started Tax Nuggets Academy.
- What the start of her year has looked like and the daily challenges of running a business.
- Her passion for teaching, learning and development in the tax space.
- Her inspiration behind her ‘Billie Jean’ Bendel case parody and what’s on the horizon for her next one.
- Joyce’s advice when dealing with negative feedback and running a business as your “most authentic self”.
You can contact the Accountants Daily team and podcast host Imogen at imogen.wilson@momentummedia.com.au.
This week on UTH, Imogen is joined by Brad Beer, chief executive of BMT Tax Depreciation, to dive into the world of tax depreciation and how it can be claimed on investment properties. Often engaged by accountants, quantity surveyors can help save thousands of dollars each year at tax time if individuals know what to claim.
Tune in to hear more about:
- What tax depreciation is and why it is important.
- Why accountants are not responsible for depreciation, what a quantity surveyor is and how a depreciation schedule is utilised.
- Difference in depreciation between new and old properties, and residential and commercial properties.
- How depreciation works when a property has been renovated.
- Tools accountants can use to aid the depreciation process.
You can contact the Accountants Daily team and podcast host Imogen at imogen.wilson@momentummedia.com.au.
This week on UTH Imogen is joined by Joanna Perry, industry advocate and ex-business adviser turned business owner. After taking the social media world by storm with her strong passion for the accounting industry, Joanna shares her career journey and why she thinks all young people should consider accounting.
Tune in to hear more about:
- Joanna’s personal career journey and where it has led her.
- How she has utilised LinkedIn to grow a national and international following of over 10,000.
- Why she is passionate about advocating for the accounting industry.
- What she is doing differently to change the narrative and grow the profession.
- Her new business journey and how that has been enabled by her background in accounting.
You can contact the Accountants Daily team and podcast host Imogen at imogen.wilson@momentummedia.com.au.
On this co-hosted episode of UTH, Lee-Ann and Imogen are joined by Ani Tuna, head of tax advisory at BlueRock. Ani delves into her passion for tax, specifically in the small business CGT concession space, and why they are a crucial tool for the SME community.
Tune in to this episode to hear more about:
- The definition of a small business CGT concession and why they’re important.
- Why Ani views small business CGT concessions as her “first love”.
- Common and recurring errors she sees when applying the concessions.
- Missed opportunities.
- What clients need to know and what they should ask.
We want to hear from you! Contact Imogen Wilson at imogen.wilson@momentummedia.com.au or Lee-Ann Hayes at lhayes@accurium.com.au if you believe there is a topic that needs to be delved into further.
On this episode of Accountants Daily Insider, Amanda Newton, group manager for the accountant segment at Intuit QuickBooks, sits down with Imogen to delve into the increasingly essential partnership between accountants and small- to medium-sized businesses.
This episode explores the Intuit QuickBooks SMB Navigator Report 2025, which provides a data-driven perspective on this evolving dynamic. Conducted by Agile Market Intelligence between December 2024 and January 2025, the study gleaned insights from 506 Australian SMBs and 404 accountants, offering a comprehensive overview of the current state and future trajectory of accountant-SMB relationships.
On this episode of the UTH, Joe Kaleb, founder of Make Accounting Great Again, joins Imogen to share his passion for the profession and his mission to attract the younger generation to the accounting industry.
Tune in to this episode to hear more about:
- What inspired Joe to start Make Accounting Great Again.
- Debunking political stigma and stereotypes around the slogan choice.
- The process of creating a business and movement from scratch.
- Joe’s thoughts on why the accounting profession is having difficulty attracting talent.
- What the wider profession can do to help the movement.
You can contact the Accountants Daily team and podcast host Imogen at imogen.wilson@momentummedia.com.au.
This week on UTH, Andy Hough, partner at Pitcher Partners, shares his work and expertise in the Australian M&A space. According to Andy, the main sentiment from all dealmakers for 2025 is “cautiously optimistic”.
Tune in to this episode to hear more about:
- Findings from a recent Pitcher Partners report on the M&A landscape.
- How dealmakers are feeling about 2025 and why.
- Andy’s career, experience and personal thoughts on the M&A market.
- How deals are viewed, worked through and finalised.
- Risks dealmakers are often posed with.
You can contact the Accountants Daily team and podcast host Imogen at imogen.wilson@momentummedia.com.au.
On this episode of the Accountants Daily Insider, Jared Brintz, senior marketing manager at Intuit QuickBooks, dives into the evolving world of AI and the horizon of opportunities for accountants. Brintz said AI is here and AI is now urging accountants to “ride the wave”.
Tune in to this episode to hear more about:
- The history and future of AI.
- The different types of AI and how to harness them.
- How accountants can use it to their advantage.
- Tips, tricks, and tools that will help elevate the AI experience.
- The professional benefits of harnessing technology.
This week, Kyelie Baxter, managing director at IQ Accountants, joins UTH to talk Imogen through the process of establishing a governance structure and why it is crucial to business success. Kyelie shares the need-to-know tips and tricks on how to develop a governance structure effectively and sustainably. Tune into this episode to hear more about:
- Kyelie’s career journey and how she likes to run her business.
- What is a governance structure?
- How can governance be established and how can an individual make it work for their business?
- Why a business should utilise governance.
- The crucial link between decision making, risk management and accountability.
You can contact the Accountants Daily team and podcast host at imogen.wilson@momentummedia.com.au.
This week on UTH, Imogen is joined by Miranda Brownlee, editor of Accountants Daily and Accounting Times. Miranda provides an insight and recap into what the AD team has been seeing in the news as the federal election looms. Holistic tax reform and opposing major party policies seem to be the common themes as we anticipate the election date announcement.
Tune in to hear more about:
- Common themes and topics the AD team is writing about.
- Coalition and Labor tax policies.
- Tax policies and independent stances.
- Tax reform and legislation that has been “left in the air”.
You can contact the Accountants Daily team at imogen.wilson@momentummedia.com.au and miranda.brownlee@momentummedia.com.au.
David Boyar joins Imogen once again on Accountants Daily Insider to chat about all things AI strategy and thought leadership, why they are crucial, and upcoming projects in the pipeline for The Access Group.
Tune in to find out more about:
- What is AI decision making and how should it be approached?
- What is Access Evo and what makes it different?
- How is The Access Group upskilling in AI to create an evolving product useful for the accounting industry?
- What is an AI strategy and why should it be implemented?
“The answer is that at Access, we're not going to leave anybody behind. We make products for accountants … and we’ll keep investing in Australian accountants.”
Co-hosts Imogen and Lee-Ann are joined once again by Michael Messner to bring you part two in this two-episode tax residency special. In this episode, the trio delve into the rules of tax residency, what they are, how they work, and the requirements.
Tune in to hear more about:
- A recap of what tax residency is and who it applies to.
- What the term ‘domicile’ means and how it applies.
- The four rules or 'tests' of tax residency.
- What the double tax agreement is and when it applies.
- Michael and Lee-Ann’s professional views on the future of the tax residency landscape.
We want to hear from you! Contact Imogen Wilson at imogen.wilson@momentummedia.com.au or Lee-Ann Hayes at lhayes@accurium.com.au if you believe there is a topic that needs to be delved into further.
Have you ever wondered if your workplace culture is as good as you think it is? Goodwork HR director, Steven Ford, joins Imogen on this episode of UTH to highlight the importance of a happy, positive workplace culture.
Tune in to find out more about:
- How to identify if you need to outsource a HR professional.
- Steven’s experience “ripping off the Band-Aid” and exposing toxic cultures.
- Tips on how to unlock high performance by nurturing employees properly.
- Why you should avoid motivating quotes in the workplace.
- How employees can effectively engage in workplace culture.
- How to approach a workplace and create a more cohesive, healthy environment.
Co-hosts Imogen and Lee-Ann bring on Michael Messner to UTH for a two-episode special focused on tax residency. An increasingly complex and intricate topic, Lee-Ann and Michael break down what tax residency is, how it applies and how it can be interpreted in multiple ways, in multiple jurisdictions!
Tune into this first episode to hear more about:
- What tax residency is and who it applies to.
- How and why it applies to residents all over the world.
- What is the purpose of it and why is it so outdated?
- What should we do to tackle and modernise tax law?
- What the profession wants and suggests.
Stay tuned for episode two on this topic coming in early March!
We want to hear from you! Contact Imogen Wilson at imogen.wilson@momentummedia.com.au or Lee-Ann Hayes at lhayes@accurium.com.au if you believe there is a topic that needs to be delved into further.
This week on Under the Hood, host Imogen is joined by Amy Fox to unpack all things small business.
Founder of Goldi Group and known as the fractional CFO for female founders, Fox opens up about how she became a small business owner within the industry, how she has structured her business and why she believes it is important to have distinct boundaries.
Tune in to find out more about:
- Fox's journey from university days to now.
- What she does as the fractional CFO for female founders.
- The how and why behind how her business and team are structured.
- Why she chose to work with women only.
- Her client base, how she found her 'sweet spot', and her advice for other small business owners struggling to find theirs.
Get in touch! Contact Imogen Wilson at imogen.wilson@momentummedia.com.au or Lee-Ann Hayes at lhayes@accurium.com.au if you believe there is a topic that needs to be delved into further.
Senior tax accountant Jimmy Nguyen joins the Insider podcast to delve into the importance of AI and technology skills and how young accountants can leverage these to propel their career. Tune into this AD Insider episode to hear more about:
- The benefits of learning how to master cloud-based accounting platforms.
- Strategies on how to effectively grow a small business.
- The importance of recognising the talent and work of young accountants.
- Cloud-based accounting platform recommendations. Is it worth it?
- Essential advice all young accountants need and should hear.
And so much more!
On this first episode of UTH for 2025, co-host Imogen is joined by transfer pricing expert, Shannon Smit. Smit is well-known for her years of international and local experience, expertise in niche areas, small business tactics and her recruitment process for young up-and-comers.
Tune into this first episode of 2025 to hear more about:
- Smit’s expansive career and how it took her abroad.
- Her personal achievements over the years.
- How and why she runs her businesses the way she does.
- How she recruits, mentors and nurtures young talent.
- Her experience as a woman in finance.
And so much more!
We want to hear from you! Contact Imogen Wilson at imogen.wilson@momentummedia.com.au or Lee-Ann Hayes at lhayes@accurium.com.au if you believe there is a topic that needs to be delved into further.
Trace CEO and co-founder Cat Long joins us on this episode of Accountants Daily Insider to provide a snapshot of the climate reporting landscape and how companies and accountants can prepare for it.
With mandatory climate reporting requirements looming for the majority of Australian organisations, Long dives into the critical nature and overarching goal of climate reporting and why it needs to be taken seriously.
With accountants at the centre of the newly enforced legislation, Trace provides support and a digital platform dedicated to helping businesses calculate their carbon emissions as well as decarbonisation plans, business progress reports and adopting a culture of sustainability.
Interested to hear about how mandatory climate reporting will impact you and your business? Tune in!
On this Christmas special of UTH, host Imogen is joined by CA ANZ president Tinashe Kamangira, who shares details about his achievements during his presidential term. When asked how he found himself as the CA ANZ president for 2024, Kamangira’s answer was “a lot of luck.”
Tune in to this bonus 2024 episode to hear about:
- Kamangira’s final outlook for the year as president on a personal and on a broader industry level.
- What Kamangira’s term as CA ANZ president was like, including the highlights.
- His achievements and passions.
- Kamangira’s approach to educating and connecting with high school and university students.
- How to support and bolster smaller accounting practices and sole practitioners.
- The horizon for the accounting industry in 2025.
On the first official episode of Under the Hood, Tracey Scotchbrook from the SMSF Association joins Imogen and Lee-Ann to chat about all things currently happening in the superannuation space.
A significantly complex and technical industry, tune in to hear Tracey’s take on:
- Key attention points in the super industry this past year.
- What challenges the industry faced this year and what challenges are on the horizon for 2025.
- The future of Div 296 tax and other bills proposed by the government.
- Super issues and the impacts this may have on accountants.
On this episode of AD Insider, host Imogen Wilson is joined by Hall Chadwick partner Kathleen Vouris and Crouch Amirbeaggi managing partner Shabnam Amirbeaggi to chat all things insolvency and a lack of female representation. In Australia, women make up only 10 per cent of insolvency practitioners, revealing a huge gap that yearns to be filled. Amirbeaggi, the first registered female liquidator in the country, shares her journey from the beginning to the present and how she has continued to enjoy the highs and lows of the industry. Vouris, working alongside her father who has been in the insolvency game for 50 years, reflects on how her career has shaped her perspectives and how she has always felt supported by those around her. Amirbeaggi and Vouris also share insight into how the industry brought them together to form a friendship and support system of their own.
In this episode of AD Insider, chartered accountant and storyteller, Heather Smith, and chartered accountant and partner at The Bean Counters, Tyler Caskey, are back with tech updates for the third quarter of 2024.
Smith and Caskey touch on multiple topics in this episode, sharing the latest news about features, functionalities and updates in the accounting technology world.
Key highlights from the episode include:
- The 3 * 3 Strategic Vision shared by Xero’s CEO at Xerocon Nashville.
- AI-rich NetSuite updates from Suite World and Cloud World, Las Vegas.
- Intuit’s Enterprise Suite release and MYOB’s new partnership with Silverfin.
- Testing Australian-based Pinch Payments alongside solutions like Stripe and GoCardless.
- Funding announcements from Re-Leased and ProjectWorks and acquisitions including Tradify.
Smith and Caskey will speak at the upcoming Access All Areas event hosted by ChangeGPS on Wednesday, 27 November in Melbourne.
UTH has been launched to provide more technical insight and discussion into the accounting industry’s ins and outs. Hear firsthand what is going on behind the scenes, who is making waves and how changing legislation and requirements continuously impact accountants, their roles and their interactions with clients. We are thrilled to introduce the head of tax education at Accurium and Tax Banter, Lee-Ann Hayes, to co-host this new podcast branch. Hayes will join journalist Imogen Wilson on UTH to chat with industry stakeholders and facilitate a more practical and sophisticated conversation.
ChangeGPS general manager and popular accountant advocate, David Boyar, jumps onto AD Insider to share his views and opinions on the current activity in the accounting industry. Boyar shares his passionate views about the disadvantages accountants have faced over the last year, and how these will likely persist into 2025.
Touching on aspects from policy reform and rapidly changing obligations to professional body activity and AI adoption, Boyar expresses his perspective on it all.
The episode also announces the Access All Areas event hosted by ChangeGPS in Melbourne on 27 November. The event is designed by and for accountants to connect and learn from one another during an overwhelming and uncertain time.
On this episode of AD Insider, Alan FitzGerald dives into the world of AI and how accounting firms can use it to transform their processes, operations, and services.
Founder of Practice Connections Advisory, FitzGerald shares his extensive experience, knowledge, and personal opinions on AI and how it can elevate the accounting industry during a time of significant change.
Touching on all aspects from benefits and challenges to risks and forecasts, FitzGerald bases his discussion on findings highlighted in the recent Changing the Game report by Intuit QuickBooks. FitzGerald says AI is the way forward for the accounting industry – tune in to this episode of AD Insider to find out why.
If you’d like to discover how Australian accounting firms are leveraging technology to stay ahead of the competition and secure their future success, download the full report at intuit.me/accountanttech for valuable insights, practical tips, and real-life examples.
Momentum Media is thrilled to be hosting the sixth annual Women in Finance Summit and Women in Finance Awards in Sydney on 15 November.
In the sixth episode of the Women in Finance Podcast series for 2024, sponsored by CPA Australia, host Imogen Wilson is joined by Jenny Wong, tax lead of policy and advocacy at CPA Australia.
Tune in to hear about:
- How Wong found herself working within the tax advisory space.
- The benefits and challenges working in tax can present.
- Advice for young up-and-coming women in the tax profession.
And much more!
Parras & Associates accountant Nick Parras and Pristine Finance broker Marinko Radomir share how working together has helped support their clients and strengthened their businesses.
In this latest episode of Accountants Daily Insider podcast, host Miranda Brownlee and Annie Kane, managing editor of The Adviser, speak to Nick and Marinko about their specialisation in high-net-worth and medical professionals and how they work together to deliver the best outcomes for these clients.
Tune in to find out:
- How working with brokers can also benefit accounting firms. Tips for finding broking partnerships that are the right fit for the accounting firm.
- Shared and unique challenges in each profession.
- How they work with high-net-worth clients.
Paul Dove joins Imogen Wilson on this week’s episode of AD Insider to discuss how outsourcing can benefit accounting firms in light of current issues and industry struggles.
Cloudstaff is a remote staffing solutions provider that helps innovative companies around the globe find their “dream team” of staff.
Dove is the senior vice president of sales at Cloudstaff and is quite the guru when it comes to the ins and outs of outsourcing. He shares his personal experience and knowledge of how this mechanism can help transform and alleviate the accounting industry.
Dove chats about his role at Cloudstaff, his personal experience and shares his knowledge of how this mechanism can help transform and alleviate the accounting industry.
Lana Weldon and Doriena Parsons from Moore Australia jump onto AD Insider to discuss the current talent shortage in the accounting industry. Sharing their passion, experience and love for the industry, the power duo touches on why the accounting industry is struggling to attract young talent, why they aren’t being retained, and what we can do to change it.
Like all industry members, Weldon and Parsons emphasise the point that accountants aren’t just “number crunchers” but creative minds that help our economy achieve anything and everything.
As a collective it is up to the accounting industry, its peak bodies and companies to portray the lifestyle, work, possibilities and opportunities available to young talent in the accounting profession.
Ex-accountant-turned-mindset coach and psychotherapist Danii Nastov shares the importance of overcoming overwhelm in the accounting industry. Like any professional career, there is a certain expectation to be consistently “firing on all cylinders” when in reality, this is neither achievable nor sustainable.
Nastov provides insight into her career as an accountant, the overwhelm, stress, and burnout she constantly experienced and how she eventually managed to pull herself out of this cycle.
Nastov touches on where this “hustle culture” and expectation comes from, as well as how to recognise and deal with it while maintaining a strong and consistent work ethic.
Partner and director of Accru Felsers, Steven Zabeti, shares key lessons and insights from his long and successful career as an audit specialist. Following his recent award win as partner of the year, Zabeti offers valuable advice to younger accountants aspiring to move up the career ladder and chats about some of the challenges and wins from his own career.
He also reflects on the evolution of technology throughout his time in accounting, his firm’s approach to innovation, and where he sees the future of accounting heading.
Zabeti also discusses how his firm’s focus on quality and teamwork has led to its positive client outcomes and the expansion of the firm.
Founder of award-winning firm Latitude Accountants, John Saade, chats to Accountants Daily about his 20-year career in accounting and the bespoke client solutions fuelling the firm’s growth.
After taking out the award for fast growing firm in the recent Australian Accounting Awards, Saade discusses why his clients value tailored solutions and services that go beyond just a transactional service.
He also shares the firm’s plans for expansion and why the firm remains dedicated to supporting small-business owners as it expands into new locations around Australia.
With many firms struggling to find talent, Saade also chats about the firm’s approach to attracting younger accountants by building up the culture of the firm; creating a fun environment; and highlighting the purpose and vision of the firm, which is to support the small businesses in the community.
He also discusses some of the challenges that lie ahead in the current economy and how his firm is helping small businesses through more challenging times.
Heather Smith and Tyler Caskey break down the latest developments and features in the accounting technology space for June and July.
In this latest episode, technology expert and commentator Heather Smith and Tyler Caskey, partner at The Bean Counters, provide their insights on what's been happening in the fast-moving accounting technology space.
Smith and Caskey delve into the developments across the biggest accounting software platforms including QuickBooks, Xero and MYOB as well as some of the emerging features on Ignition, Employment Hero and Dext.
They also chat about the establishment of software platform Zoho in Australia with the software provider recently setting up its first Australian headquarters in Adelaide.
Smith also shares her valuable tips for training stuff on new software systems.
George Haramis chats about emerging advice opportunities for accountants following advancements in digital advice and what’s next for accountantsGPS. AccountantsGPS founder and CEO George Haramis talks to Accountants Daily about what his platform is doing to actively address the advice gap and the barriers facing accountants wanting to provide clients with greater access to advice services.
With many clients seeking advice on areas such as super but unable to afford the high cost of advice, digital advice may be a potential solution to meeting these clients’ needs.
Haramis gives insight into why he started accountantsGPS and what progress has been made since its launch in 2023 with participating firms.
He also discusses how offering digital advice services can benefit accounting firms and their relationships with clients.
AccountantsGPS is also offering a promotion for firms that want to subscribe and test out the platform.
Accountants can use the promocode code WEB100GPS to access:
- A one-month free subscription for the accountantsGPS platform.
- A 20% reduction off a monthly plan, for a limited time only to COB Friday, 16 August.
- Savings between $600pa to $2,900pa.
- Call 1300 24 24 42 to speak to the accountantsGPS team.
CGW Lawyers partner Fletch Heinemann shares some of the critical considerations for businesses engaging contractors with audit activity in this area on this rise. In this episode, Heinemann discusses two major High Court decisions, Construction, Forestry, Maritime, Mining and Energy Union v Personnel Contracting Pty Ltd and ZG Operations Pty Ltd v Jamsek, and the implications they've had on contractor arrangements.
He also explores how the introduction of the Fair Work Legislation Amendment (Closing Loopholes) Bill 2023 affects how businesses determine whether workers are employees or contractors.
Heinemann warns businesses on some of the key issues to watch out for when contracting sole traders, including potential payroll tax concerns.
With audit activity from both the ATO and revenue offices in this area on the rise, he also provides insight into how businesses should prepare for a potential audit.
Tax debt specialist Olga Koskie explains why it's not all doom and gloom in relation to payment plans and tax debts despite a shift in the ATO's approach. In this latest episode, Tax Assure principal Olga Koskie shares what she's currently seeing in practice in terms of the ATO's approach to tax debts and the types of terms it is willing to agree to with payment plans.
While the ATO is now firmly back in active collective mode, Koskie says it is still possible for businesses with tax debts to obtain payment plans that are affordable and sustainable.
She sheds light on the factors the ATO is looking at when considering when to grant payment plans and what is likely to lead to a more favourable outcome.
Koskie also explains what initial steps businesses with these debts should be taking and how they may need to structure their arrangements based on their specific circumstances, such as projected cash flow.
Heather Smith and Tyler Caskey delve into the latest features, integrations and developments across QuickBooks, MYOB and Xero over April and May.
Accounting app specialist Heather Smith and technology enthusiast and partner at The Bean Counters, Tyler Caskey, share their thoughts on some of the recent updates across accounting apps in the past two months.
They chat about the release of several new features by QuickBooks including the spreadsheets sync feature and the release of the fixed asset register and some recent integrations on the platform.
They also touch on some of the big announcements in the space including Xero's decision to retire Planday and changes with its pricing plans.
Smith and Caskey also highlight some of the other useful features launched across practice management and business management software platforms recently.
Cooper Grace Ward Lawyers partner Sarah Lancaster provides an update on the payroll tax issues continuing to plague medical practices and the critical planning needed in this area.
In this episode, Lancaster shares some of the highlights from her upcoming presentation at the ACE Accounting Conference & Expo next month.
She discusses the potential audit risks facing medical and allied health practices following the rulings that were issued by various revenue offices last year and what firms need to be doing now to manage these risks.
Lancaster also sheds light on other payroll tax issues being audited by state revenue offices and where businesses need to improve their record keeping.
A bids and tender specialist has seen a dramatic increase in small to medium accounting firms bidding for government contracts in the past year. In this episode, Jason Cooney, director at The Tender Team, explains why smaller accounting firms have become more courageous with bids for government contracts more recently and some of the reasons for their success. Cooney discusses the types of contracts that smaller accounting firms are winning and how they can stand out from other competing firms. He also offers tips and considerations for the tender process and how firms can prepare to make the process smoother.
Michael Fingland explains the vital role that stress testing can play for businesses in an economy "teetering on the edge of recession".
In this latest episode, Vantage Performance chief executive Michael Fingland gives a rundown on the concept of stress testing and how businesses can utilise this strategy to prepare for further headwinds in the year ahead.
Fingland explains that with consumer spending pulling back and the economy softening, businesses should be analysing what outcomes might arise with a dip in cash flow, a drop in revenue or with other, more specific, challenges.
Businesses can then put in a place a “rapid-fire turnaround plan” that can be implemented if any of these scenarios happen, he says.
He also provides his predictions on business conditions for the remainder of 2024 and what the main challenges will be.
Heather Smith and Tyler Caskey delve into the latest technology transformations and feature and functionality updates for the start of the year.
In this episode, accounting apps specialist Heather Smith and Tyler Caskey, partners at TheBeanCounters, discuss recent developments in real-time banking transactions, direct digital receipting and multi-currency transactions.
They also explore updates and new features in the reporting space across cash flow forecasting, automatic workflows, intercompany loan reconciliations and ESG.
Heather and Tyler also chat about some of the big announcements in the accounting tech space including the launch of WorkflowMax by BlueRock and Xero ending classic invoicing later this year.
There are so many amazingly successful women in the finance industry, but only a small number have a strong brand and online presence in this traditionally male-dominated industry. As we celebrate International Women’s Day, we want to help more women raise their profile and showcase the incredible professionals in this space. In this episode, partnered by Mortgage Choice (part of the REA Group), we’re picking the brain of its executive manager, corporate communications, events & franchise marketing, Sally Chadwick, to find out:
- How to build a brand presence.
- The benefits of having a strong brand presence.
- Top tips to help you get started today.
And much more!
Family businesses ripe to pass on often need help after getting stuck in their ways, says the principal of a financial advisory firm. A spike in succession planning in the wake of COVID-19 has created a wealth of opportunities for advisers and virtual CFO services, says one finance specialist. Principal of iFin Capital and iFin Advisory, Nathan Hogan, said some strong family businesses got stuck in their ways and needed some help to make the transfer. “We’re seeing a real spike in the last 12 months of this activity of passing on things to generations,” he said on the latest Accountants Daily Insider podcast. “A lot of it really is around really good family businesses that have done well and generally they’ve had an internal finance manager or someone who’s started as a junior and worked their way up. “Sometimes those businesses have the biggest issues because there has been a bit of inaction for a long time and they might not be looking around the corner as much as you would like to see from your CFO.”
Outsourcing will be part of the answer for some, but finding a senior locally will remain a problem, says Trent McLaren. The accountancy profession looks in vain for a talent shortage silver bullet and some firms face a tough decision about whether outsourcing is part of the answer, according to the co-founder of marketing and sales consultancy, Journey, Trent McLaren. “When we say there is a shortage of accountants, we're saying there's a shortage in Australia, right?” he said on the latest Accountants Daily Insider podcast. “There are people in other countries that are happy and willing to do the work that our new generation of people don't want to do. “This is something that some people will have to either bite with, say either I don't want to do any more work, I don't want to win any more fees … or they're going to see more people embrace this global, remote teams type environment, where my team member is just based wherever they need to be.” “There's no silver bullet. That's the thing. Even if I go and load up on offshoring outsourcing, there's still a capability piece that I'll have to draw a line on at some point. “I'm still going to need a senior at some point locally.”
Following the Women in Finance Summit and Awards 2023, we’re catching up with some of the leading women in the financial services space.
In this episode, we chat to Rebecca Warren, executive general manager of small-business banking at CommBank, about how she navigated a historically male-dominated industry over her 20-year career and why she believes inclusion and diversity are not just morally imperative, but key to achieving superior business results.
Tune in to find out:
- Why she loves commercial finance.
- The secret power of ‘quiet achievers’.
- How CommBank is creating a more inclusive and supportive work culture.
And much more!
Following the Women in Finance Summit and Awards 2023, we’re catching up with some of the leading women in the financial services space.
In this episode, we chat to Suzanne Wood, state general manager residential broker Victoria/Tasmania at Westpac Group (and state chair of the Women of Westpac employee advocacy group), about how she climbed the career ladder in banking and the power of having strong female role models.
Tune in to find out:
- How she learnt the art of having difficult conversations.
- The perils of unconscious bias and how to tackle them.
- How Westpac is supporting women through the Women of Westpac employee advocacy group.
And much more!
Grammatical errors and other easy signs of fake messaging are gone and “wealthy, trusting” Australia has become a favourite target. AI has taken the rough edges off cyber scams and removed the easy “tells” in fake messages such as typos or grammatical errors, says one digital security specialist. “Now they just have ChatGPT correct the text – they just say ‘write this email as an Australian business person,” said Niek Dekker of Eftsure on the latest Accountants Daily podcast. “That was done the moment it came out.” He said AI had also made some countries that were difficult to hack, such as Japan, more vulnerable. “They were always a bit out of target because not everybody knows the business culture or the language. Since generative AI has come, they see an increase in scams.” He said Australia had become a favourite target for hackers because we were wealthy and trusting. “That makes us prime targets for these criminals.”
The financial advice regime has failed to deliver guidance to SMSFs through its licensing rules and the Quality of Advice Review offers little prospect for change, according to the CEO of two fintechs aiming to bridge the gap. George Haramis said some accounting firms acquired licences to offer advice to SMSFs but providers fell away, leaving almost $900 billion in superannuation assets largely unguided. “We know that accountants can deliver tax advice, but in reality they get asked all the time to cross the line inadvertently by their clients,” Mr Haramis said on the latest Accountants Daily podcast. “They don’t. They fall back to the tax advice and guidance and refer people to financial advisers.” “But it’s always surprised me that the inability for them to give personal advice to some extent is not is not catered for by the government and the regulators – particularly what came out of QAR.”
Ahead of the Women in Finance Summit and Awards 2023, we’re catching up with some of the leading women in the financial services space. In this episode, we chat to Anjali Crossette, manager of motor operations at non-bank lender Liberty, about breaking barriers and misconceptions about car finance and why she believes the industry needs to showcase gender diversity across every rung of the career ladder. Tune in to find out:
- Why the finance industry is an attractive industry to work in for women.
- The progress being made in gender diversity in car finance.
- How Liberty is leading the way by example.
And much more!
Ahead of the Women in Finance Summit and Awards 2023, we’re catching up with some of the leading women in the financial services space. In this episode, host Maja Garaca Djurdjevic is joined by Olympian and financial adviser at HLB Mann Judd, Sarah Carli, to discuss how she made her way from the track to financial advice.
Ms Carli, who competed in the 400-metre hurdles at the Tokyo Olympics in 2020, reveals the valuable skills she has learned as an adviser that have positively impacted her athletic career, as well as how she balances being a professional athlete with working full time.
Tune in to find out:
- The importance of a supportive work environment.
- How she balances her professional and athletic commitments.
- How there are more transferable skills between athletics and advice than many might expect.
And much more!
Ahead of the Women in Finance Summit and Awards 2023, we’re catching up with some of the leading women in the financial services space. Deslie Taylor, principal at Mortgage Choice Ormeau in Queensland, is one of the top brokers in the country, having settled over $1 billion in loans in her 16-year career and taken home numerous awards including Mortgage Broker of the Year at the Women in Finance Awards multiple years in a row. In this episode, we chat to Ms Taylor about how she runs her award-winning brokerage and find out from Aaron Slater, general manager of distribution at Mortgage Choice (principal partner of the Women in Finance Summit and Awards 2023), how we can help support and create more inclusive workplaces. Tune in to find out:
- The power of being an empathetic leader.
- The art of practising continuous improvement.
- How Mortgage Choice’s Aspire program is supporting women in finance.
And much more!
Tax debt hangovers from the pandemic are behind the rise in SME insolvencies but adverse economic conditions now drive company wind-ups and it will only get worse, say two specialists in the area.
Speaking on the latest Accountant Daily podcast, Jirsch Sutherland national managing partner Bradd Morelli and Sydney partner Andrew Spring said people on fixed incomes were cutting back and hitting sectors that had barely recovered from Covid.
“We might avoid a technical recession but we will definitely come into – if we're not experiencing now – a per capita recession,” said Mr Morelli. “I struggle to see how the conditions can't worsen over the next 12 or 18 months.”
Mr Spring said economic impacts often manifested in tax debt.
“The reasoning behind why the tax debt has accrued is impact at top line, at revenue line, which can largely be a result of the economic impacts at consumer level around discretionary spend, or higher costs.”
Ahead of the Women in Finance Summit and Awards 2023, we’re catching up with some of the leading women in the financial services space. Joanna James is an advocate for constant reinvention and resilience, having adapted to change over her career in the finance space herself. Having worked in the lending space for more than 20 years – including as the general manager of non-bank lender Mortgage Ezy – she now helps support women in building successful businesses through Artemis Space, a women’s community group delivered by the Finance Brokers Association of Australia. In this episode, Annie Kane sits down with Ms James to find out:
- Why success is subjective.
- The power of visualisation, emotionalisation and manifestation.
- Why she believes the finance industry is a great industry for women.
And much more!
Ahead of the Women in Finance Summit and Awards 2023, we’re catching up with some of the leading women in the financial services space.
Tanya Sale co-founded mortgage aggregation group outsource Financial with Andrea Tassis 13 years ago, with Tanya now one of the very few female CEOs in the mortgage industry.
In this episode, Annie Kane sits down with Ms Sale to find out:
- How a piggy bank triggered her love of finance
- Why she started her own aggregation business
- Why she believes support is critical to succeed as a female business leader
And much more!
Maxed-out credit cards together with household savings at a 20-year low are alarming portents for the looming recession, says turnaround specialist Michael Fingland. The founder and CEO of Vantage Performance said the increased costs of servicing a mortgage had depleted cash built up during the pandemic and it was business as usual for credit card debt. “Inflation is coming down because the household savings rate is now at such a low level,” he said on the latest Accountants Daily podcast. “Also through Covid the average credit card balance dropped by a third … it’s just tipped back up at the end of the June quarter, back up to the peak of where it was pre-Covid.” “The economy, in terms of discretionary spending, is now exhausting itself.” “Look at the US and Europe – when you go into a recession with a very low household savings rate the recession is worse because there’s just no buffer.”
Enforcement action without warning is an unmistakeable sign that the ATO has adopted a tougher line on debt recovery, says a tax debt specialist. “We’re absolutely seeing an increase in enforcement action, an increased focus on individuals – so directors and not just the company – and an increase in enforcement action without any warning,” said Olga Koskie, a director and principal at tax debt negotiation specialist Tax Assure. Speaking on the latest Accountants Daily podcast, Ms Koskie said two factors underlined a change of mood at the ATO. “One is a focus on compliance – on lodgements on time, on payments on time, and the history of the compliance of a company or an individual or a business is affecting whether or not they’re getting payment plans,” she said. “And the second is ongoing viability. So if they don’t believe a company has the ongoing viability or is able to demonstrate ongoing viability, there may not be as many second chances.”
Artificial intelligence and other emerging technologies throw up fresh ethical challenges for accountants who need to be aware of the pitfalls, says RMIT honorary professor of accounting Brendan O’Connell.
Speaking on the latest Accountants Daily podcast alongside CPA Australia ethics policy senior manager Keddie Waller, Mr O’Connell said AI brought issues such as privacy and consent to the fore.
“If you’re using AI to solve a problem relating to a client, if you feed that into AI then it becomes a public document. So there’s a privacy issue there,” he said.
“If you’re analysing the data of a client, you want to make sure that you’ve got their consent to use it for particular purposes.”
Ms Waller said the accounting ethical principles, spelled out in APES 110, remained unchanged, but special guidance was being developed to cover emerging issues.
“What the code has done over time in trying to respond to that is provide more guidance, more contemporary issues for … professional accountants to think about in how to apply those fundamental principles to the situations they’re facing,” Ms Waller said.
Artificial intelligence will never usurp accountants, although firms that fail to embrace the technology have the most to fear, according to the marketing leader for accounting and advisory at Intuit QuickBooks, Damien Greathead.
“I don’t think it’s going to replace accountants,” Mr Greathead said on the latest Accountants Daily podcast.
“I think it’s going to replace those accounting firms, bookkeeping firms, that don’t embrace it, that don’t recognise that artificial intelligence can do certain tasks very efficiently and very effectively.”
Firms that adopted the technology would have more time to spend on client
relationships because “accountants are in the people business”.
“They’re in the business of helping their clients remain compliant, giving their
clients peace of mind, helping them be successful in either their business or
personal wealth.
“I don’t think that will ever go away, that relationship.”
We are effectively in a recession already with near-zero GDP growth and many industries under pressure, says turnaround specialist Michael Fingland.
Mr Fingland, CEO of Vantage Performance, said its focus on helping to save troubled businesses meant it witnessed changes in the economy “roughly six months before the insolvency profession”.
“It’s feeling very eerily a bit like the onset of Covid and certain elements of the GFC,” Mr Fingland said on the latest Accountants Daily podcast. “There are certain industries that are really starting to come under significant pressure.
“GDP figures were 0.2 per cent growth – that looks and feels like a recession because that’s an average score. When you’re at such an anaemic growth level like that, it looks and feels like a recession in most industries.”
“Now June quarter I think will definitely be a negative and September most likely negative, so officially, we won’t be told that we’re in a recession until November.”
“But at 0.2 per cent GDP [growth], that’s effectively recessionary territory.”
A 90-degree turn from healthcare to financial health turned out to be a winning move for Isagani Manaois of TaxSmart Cafe, who was named Property Specialist Accountant of the Year at the recent Australian Accounting Awards.
“When I moved to Australia I started studying accounting because of the flexibility,” he said, after the 24-hour shift work of nursing had taken its toll.
It was a double win for TaxSmart Cafe and for Filipino migrants, with colleague Joynivee Chua winning the award for Accounting Support Staff of the Year.
Like Mr Manaois, Ms Chua studied to help her move but she began with a degree in computer science before making the switch.
“It took a while, but I finally got an opportunity to start studying accounting,” she said, after her software nous helped TaxSmart Cafe embrace a whole range of financial software. “I finished cert four in accounting and bookkeeping and now I’m continuing an accounting degree.”
Awards are vital to boost accounting in the eyes of students, says Mazars Sydney managing partner Matthew Ashley, because attracting talent to the profession is a key challenge.
Mr Ashley, who won Partner of the Year at the recent Australian Accounting Awards for the second time in a row, said everyone faced the same problem but awards were part of the solution.
“We need to be doing more things to elevate accountants … celebrate success more as a profession,” he said on the latest Accountants Daily podcast.
“The more we can do in investing in PR for the industry itself will help ensure we’re getting the talent pipeline coming through in terms of people leaving school and going to university wanting to study accounting and using it as a foundation for their career.”
If Mr Ashley needed proof that his approach could work he had to look no further than his own Mazars Sydney team, which was a stand-out at this year’s awards with two other winners: New Partner of the Year in international tax specialist Lauren Hill and Rising Star of the Year Nadia Afrin.
“Never give up!” is the message from Natalia Clack, winner of the Excellence Award at the recent Australian Accounting Awards, who overcame the challenge of learning a specialty and setting up her own business after moving here from Russia 20 years ago.
“If you decide to come to another country and things are not going smooth, just push and be resilient, and make sure that you make your decision today and you follow through with your decision,” she says on the latest Accountants Daily podcast.
The experience of Ms Clack, who also won the award for Superannuation Specialist Accountant, resounds in a profession where more than 50 per cent of practitioners were born overseas.
“Every day you try to improve your business, you try to grow your business, you face the challenges, and you think that all this effort doesn't get recognised,” she said.
“But at the end of the day, it gets accumulated. So whatever you're doing, bit by bit, drop by drop, you get this accumulation of your strength, of your success, of your achievements, of your mentality.
“And at the end of the day, you will get your award one way or another.”
Tax on Chain discusses some of the major tax issues in the cryptocurrency space and the strong demand for specialist tax services involving crypto assets.
Director of Tax on Chain, Oliver Woodbridge, outlines some of the biggest gripes for accountants dealing with crypto assets and the difficulty in navigating the tax framework.
With regulatory guidance in the area of crypto severely lacking, he also talks about the importance of the ATO providing further advice in this area.
Oliver also highlights some of the developments happening in the cryptocurrency and blockchain landscape and what the next year ahead looks like for this space.
Specialist accounting firm Darkwave discusses the outlook for creative industries and where accountants can play a guiding role.
Darkwave director Meredith Fannin highlights some of the challenges facing those working across entertainment, music, performance, TV and film over the next 12 months, including the rising cost of living and advancements in AI.
As a firm specialising in the creative industries, Ms Fannin outlines some of the ways accountants can provide value to these types of clients through financial planning, cash flow management and detailed budgeting.
She also chats about the recovery of the creative industries from the difficult COVID-19 period and what the next financial year is likely to bring for different parts of the industry.
Accountants and their clients will have some unique strategy dilemmas to consider in the lead up to 30 June this year.
In this episode, we share a conversation with one of our sister brands, The SMSF Adviser Show. Tim Miller, SMSF technical and education manager at Smarter SMSF and Smarter SMSF chief executive Aaron Dunn share a range of tips, traps and strategies SMSF professionals can look to employ with their clients in the lead up to 30 June.
Mr Miller highlights some of the key contribution strategies to think about and why increasing mortgage repayments may drive an uptick in downsizer contributions, particularly in the 55 to 65 age group.
He also discusses some of the dilemmas faced by SMSF professionals and their clients in relation to pensions with the general transfer balance cap set to index to $1.9 million on 1 July.
KeyPay co-founder and head of product at Employment Hero Phil Bernie outlines some of the upcoming challenges with payroll for the year ahead and where Australia’s employment system could be improved.
Mr Bernie discusses what some of the main hurdles will be for accountants next financial year including the continued rollout of single touch payroll phase 2, the start of payday super in July 2026, and a tougher compliance focus by regulators.
He shares some of his predictions in terms of regulatory changes, including a move to paying BAS tax weekly or fortnightly, and also discusses some of the complexity in Australia’s employment system and some aspects that could be simplified.
The current advice framework creates significant issues for unlicensed accountants looking to provide advice on the proposed $3 million threshold, warns CA ANZ. In this episode of the Accountants Daily podcast, Tony Negline from CA ANZ shares his thoughts on some of the recent developments happening with advice reforms and superannuation policy. With the government looking to introduce legislation for the experienced pathway for advisers soon, Mr Negline discusses CA ANZ’s views on the measure and concerns about the absence of a sunset clause. He also highlights the need for further reform to create a fairer regulatory environment for accountants and why the Quality of Advice Review didn’t go far enough. He also explains why the $3 million threshold will create new difficulties for unlicensed accountants due to the way the existing framework operates and why it needs to change.
Accountants are prone to a raft of common mistakes that hold them back but can be avoided with planning, says Rob Pillans, founder and principal consultant at Planet Consulting. A former accountant himself, Mr Pillans admires the profession “but I do see some things a bit too often that I would love accountants to be doing a bit differently”, he said. “I’ve categorised those things into three broad areas: team, clients, and systems and processes.” He said the problems were perennial but getting the team right was always top of the list. “If you don’t have that clear vision and direction for the firm that you can articulate to the team or get them involved in building it, go back and start there. Because if you get clear about that it guides a lot of the decisions that get made about the other aspects of the business.”
Ignition’s Top 50 Women in Accounting Awards has gone from strength to strength and now has global recognition, says its originator Guy Pearson, the CEO and co-founder of the company. He established the awards six years ago to acknowledge the many women who had been instrumental in his early career but who “undersold themselves”. “We can move the needle in terms of helping women put their hand up, be recognised and realise they can achieve perhaps more than they set out to,” said Mr Pearson on this week’s Accountants Daily podcast. Among the first 50 winners was Rebecca Mihalic, now head of accounting at Ignition and joint guest on the podcast, who said the momentum behind the awards had grown. “I didn’t even see the original announcement of the first lot of awards … but now people wait for it. People want to nominate their colleagues, they can see this is making a great impact for women out there who are doing wonderful things but are flying under the radar.” This year’s winners included women from Australia, Canada, Cayman Island, France, New Zealand, Pakistan, the UK and the US.
Too many practices are “suffocating in their own workflow”, says the head of accounting at Intuit QuickBooks, Shaye Thyer, but too many keep doing things the hard way. Speaking on the latest Accountants Daily podcast, Ms Thyer said a recent Intuit QuickBooks roadshow had revealed the surprising extent to which practices tolerated unnecessary burdens, such as re-keying data, simply from inertia. “I still wonder what’s in the way because I know that’s not just reserved to our customers that we work with this. Accounting firms all over the country use a variety of tools – it’s not because they only use one platform, they use different platforms – so they’re aware of lots of options that could help them.”
Accountants can learn a lot from other industries, says Rob Pillans, founder and principal consultant at Planet Consulting, and some of the examples are surprising. Speaking on the latest Accountants Daily podcast he said Appliances Online, for instance, had identified two pain points when it comes to buying whitegoods. “Firstly, how long is it going to take to get here? When your fridge breaks down … you don’t have a long time before everything goes off. “And secondly, what do you do with the old one? “Appliances Online have, I think, very brilliantly solved that.” The lesson for accounting firms – when the work was more complex than an H&R Block return – went to turnaround time on jobs. “Clients would love it if we could do this faster,” he said. “So I’m thinking now, who’s going to be the accounting firm to really ramp up the turnaround time?”
Interest rates will remain at today’s “elevated” levels and the only way from here is up, says the senior manager of business and investment at CPA Australia, Gavan Ord. Speaking on the latest Accountants Daily podcast, he said the low rate levels of a year ago, before the run of RBA rises, were unlikely to return. “We will have elevated interest rates for quite some time — above the average of the last 10 years but more consistent with the average of the prior 10 years,” he said. “If you listen to some economists, interest rates are actually coming back to where they normally sit. We’ve actually had a very long period of ultra-low interest rates from the Global Financial Crisis. “Will we go back to 0.1 per cent? If we did we’d be in some sort of economic crisis.” RBA governor Philip Lowe said it would take more than two years to return inflation to the target band and Mr Ord said more increases were on the cards. “If you’re doing your planning, expect maybe a couple more rate rises before they reach the peak. When will they start to reduce rates? We just don’t know,” Mr Ord said.
The SMSF Association and CA ANZ highlight some of the grey areas and potential policy positions that could be taken with the proposed threshold. SMSF Association head of policy and advocacy, Tracey Scotchbrook, and superannuation and financial services leader at Chartered Accountants Australia, Tony Negline, share their latest insights about the proposed $3 million threshold for members with large balances. Tracey discusses why an alternative model might result in fairer outcomes for members and also outlines some of the aspects yet to be addressed with the design of the policy so far. Tony talks about the reaction from the accounting profession so far and also the risk of the calculation methodology being adopted for other types of entities. Both guests also provide tips on how to approach the discussions about the measure with their SMSF clients.
The ATO believes small business is the big culprit when it comes to compliance with FBT and it’s on a mission to round up the missing millions, says specialist Paul Mather on the latest Accountants Daily podcast.
Mr Mather, who is founder of FBT Salary Packing Solutions, said the tax gap with FBT – the difference between what the ATO collected and what it believed it should be collecting – was 22 per cent, the largest for any tax.
“We've got a $4 billion revenue take on average and there’s about a $1 billion dollar gap,” he said. “The ATO believes that gap is predominantly with small business employers who are not within the FBT system.”
“The Tax Office acknowledges that tax agents are very good at working with income tax and GST with their clients, but not so good with FBT ... and they need to upskill a bit around FBT.
The collapse of Silicon Valley Bank has taken the tech industry into “uncharted territory” and venture capital now seeks more solidity in its investment targets, says Damien Greathead of Intuit QuickBooks. The company’s head of marketing for the accountant and adviser group, speaking on the latest Accountants Daily podcast, said a mood change was detectable months ago. “Just before Christmas and the end of 2022, I did see a slowing of capital and venture capital going into start-up firms,” Mr Greathead said. “I think venture capital firms and investment firms were taking a step back. “I think firms are looking for much more stability and much more sustainability in the growth of their potential investment targets.”
About 50,000 business owners a year are simply handing back the keys and walking away, says the chief executive of insolvency body ARITA, due to a “dysfunctional” wind-up system. John Winter of the Australian Restructuring, Insolvency and Turnaround Association said the issue was starting to appear on government radar because the numbers involved were four to five times higher than formal insolvencies.
“We think that there is a wholesale failure within the Australian insolvency regime,” Mr Winter said, speaking on the latest Accountants Daily podcast.
“Over many years it's become far too complex.”
“Typically, a business which is solvent and is being closed down should go through a members voluntary liquidation. If it’s insolvent, it's got to go through insolvency processes, but 40,000 to 50,000 businesses a year are not doing any of that.”
Small business pay practices have become a target for Fair Work and big fines await those with compliance shortfalls, says KeyPay co-founder and head of product Phil Bernie. Speaking on this week’s Accountants Daily podcast, Mr Bernie said millions in underpayment by big companies captured headlines but Fair Work was putting small business pay records under the microscope too. “There’s a trend particularly in agriculture where Fair Work are coming in and doing audits and reviewing farmers,” Mr Bernie said. “Pay accuracy is one thing they’re big on, but we saw the other day $20,000 fines being issued for record keeping. “You don’t have to be employing 2,000 or 3,000 people to be on the radar for Fair Work. They are going out and targeting specific industries and you could just be employing 20 or 30 people and all it takes is for one person to query a pay slip or to raise a query with Fair Work and you could be on the radar.”
Xero Australia country chief Will Buckley says artificial intelligence is rich with possibilities for the accounting profession and that he couldn’t resist testing ChatGPT – the high-profile bot launched last November by OpenAI.
“I was excited to get into it and just see what's capable of,” Mr Buckley said on this week’s Accountants Daily podcast. “A couple of the questions that I chucked in there I got complete nonsense responses!”
“I started to go down the tangent of trying to figure out if it was capable of delivering tax planning advice. So I asked some questions [for example] how would you navigate through establishing a pretty good estate plan and self-managed super fund for high-net-worth individuals?”
“Obviously, the technology is not all the way there yet!”
The ATO is gunning for the wrong target in its s100A approach because the authors of the law never intended it to apply to families, says Tim Munro, CEO of Change Accountants and Change GPS. Mr Munro spent three weeks trawling through Hansard from 1978–79 to examine the origins of the trust distribution law. “I disagree with the approach the ATO have taken with the application of section 100A,” Mr Munro said on this week’s Accountants Daily podcast. “It was introduced to stop someone, say a property developer, who made $10 million in profits, finding someone else not in the family with a loss company or trust and saying, ‘Can I put my profits through your losses? I’ll give you $1 million and I’ll keep $9 million’.” “That is your classic reimbursement agreement. I can filter my profits through, take it out tax free, I reimburse you $1 million bucks, and we’re both better off. “That’s why this was put into place.”
Note: This podcast was recorded before the ATO released PCG 2023/1 on work-from-home deductions.
Four out of 10 issues raised by small business concern “shabby” payment behaviour by the big end of town, says Australian Small Business and Family Enterprise Ombudsman Bruce Billson.
“Sadly, about 40 per cent of the matters that come our way are related to payment times,” Mr Billson said on this week’s Accountants Daily podcast.
“The previous federal government introduced a reporting register so 7,000 of our largest corporates have to report quarterly on just what their terms are.”
“That was a bit of a show and tell, hopefully, a nudge to improve performance. “But it hasn’t actually improved that much at all. We see far too many small and family businesses waiting way too long to get paid for what they do for their big business clients.
“It’s just shabby. It doesn’t need to be this way.”
Accounting firms need to focus on their real expenses and review their prices or get left behind by inflation and interest rates rises, says Rebecca Mihalic, a director at eastern seaboard accounting practice BusinessDepot. “We spend a lot of time focused on making sure our clients are still profitable and they're staying solvent – we need to have a look internally,” Ms Mihalic said on this week’s Accountants Daily podcast. “Even if you don't bill by the hour anymore, and there's lots of us who don't, you're still probably determining whether or not you're profitable on a client by looking at an hourly rate associated with a timesheet. “I would suggest that hand-in-hand with that you should also be looking at the actual costs that are going on in your business and whether or not those costs are being supported by your pricing. “I could guarantee at the moment – unless you've done huge pricing reviews recently – you're probably losing out and will continue to lose out moving forward.”
Camilla Love started F3 — Future Females in Finance to bring more women into the financial services industry. The program — which won the Women’s Community Program of the Year award 2022 from the Women in Finance Awards 2022 — aims to educate young women about careers and finance and nudge as many of the next generation of female talent into financial services as possible.
In this episode of In Focus, partnered by Mortgage Choice, we catch up with the founder of F3 (and managing director of eInvest), Camilla Love, and Mortgage Choice's executive manager corporate communications, events & franchise marketing, Sally Chadwick, to discuss what more we can do to ensure greater female representation in finance.
Tune in to find out:
- The turning point that led Camilla Love to start F3
- What we can be doing to welcome more women into financial services
- What the future looks like for women in finance
And much more!
An outdated approach to pricing means accountants have fallen behind other professions and continue to be paid inappropriately for the work they do, according to the head of accounting at Intuit QuickBooks, Shaye Thyer.
The latest data on pay from recruiter Seek — which shows accounting salaries rising slightly ahead of the pack — was good news and overdue.
“I absolutely celebrate that accountant salaries are increasing above average,” said Ms Thyer on this week’s Accountants Daily podcast. “I think this is a correction – I think this has been coming for so many years.”
She said the problem stemmed from an overdue reliance on pricing by the hour.
“It’s so limiting — it doesn’t reflect the value of what we’re doing whatsoever.
“I don’t know what the exact answer is, but I would love to see some more thinking around the way we structure these things because at the end of the day, we do need to pay our accountants better. And we will need to figure out a way to make that work commercially.”
Hiring and retention costs have spiked with the low unemployment rate and a firm’s value proposition has become vital to attracting and keeping talent, says Janet Daubney, head of people and culture at BDO Australia.
“Firms are competing to attract and retain talent more than ever before,” she said on the latest Accountants Daily podcast, produced in conjunction with Daniela Pasini, national director professional services, Business Banking at CBA.
“Our people and candidates have more options on the table. This has created a significant spike in retention issues and rising hiring costs for employers across the board,” Ms Daubney said.
“We’re also finding that for us to be able to differentiate ourselves amongst competitors, our value prop — and being able to provide a holistic experience for our people — is critical in attracting and retaining the best talent.”
Labor’s first budget stuck to its election campaign script but offered only glimpses of a holistic vision and no surprises, says CPA Australia senior policy manager Gavan Ord.
Speaking on the latest Accountants Daily podcast, Mr Ord said it was a “cautious budget that suits the tough economic environment” with glimpses of future ambition in the areas of housing, manufacturing, and climate change.
“The Treasury made it clear this budget was about just delivering on its election promises. This was really just a reprioritising of government spending towards its election commitments.
“So it wasn’t a traditional budget, there weren’t really any surprises.”
The financial services industry has historically been male-dominated but encouraging more women into the space is not only good for society, but good for business too.
In this episode, partnered by Mortgage Choice, Anthony Waldron, chief executive of financial services and Mortgage Choice at the REA Group, outlines how the industry can move away from being “male, stale and pale” and encourage more women into the space.
Tune in to find out:
- The barriers that might be holding back female representation
- What can be done to encourage diversity in industry
- Why Mortgage Choice is partnering with the Women in Finance Awards 2022
And much more!
It's an “amazing time” to start an accounting firm and inspirational role models – here and overseas – are showing what is possible, according to Damien Greathead, marketing leader for accounting and advisory at Intuit.
Speaking on the latest Accountants Daily podcast, Mr Greathead said successful start-ups were moving away from the traditional approach of hanging up a shingle and waiting for custom.
“Rather than just relying on whoever comes through the door,” he said, “have clear intentions about the services you will offer.
“You really see a different practitioner out in the workplace, and they're approaching their business model very differently.
“It's very much built with intention in terms of the types of services they offer, the types of clients that they're working with.”
Small business objections to ATO decisions leaped during the pandemic and a “significant number and proportion” were disallowed, says the Inspector-General of Taxation and Taxation Ombudsman (IGOT), Karen Payne.
Speaking on the latest Accountants Daily podcast, Ms Payne said a report by the IGOT on the tax objection system, released today, shows pandemic support programs prompted the rise, with small business and their agents struggling to keep up with the changes.
“If you think about the nature of COVID stimulus measures, they’re new areas of law,” Ms Payne said. “The practitioner in particular has an obligation or an expectation that they will get themselves up to speed with those new areas of law.
“The small business is then increasingly reliant on the practitioner to advise them on what are their rights and their entitlements. And so that’s coming through in the data.
“And I’m sure for practitioners who are listening to this, it’s no surprise. Everybody was flat out trying to keep up with the reforms and to help the clients and small businesses in particular to keep ahead of it.”
Auditors have a key role to play in achieving sustainability because it needs the same sort of scrutiny they apply to financial documents, says CA ANZ reporting and assurance leader Amir Ghandar.
Speaking on a special Accountants Daily podcast to mark Auditor Proud Day — which this year has sustainability as its theme — Mr Ghandar said there were increasing demands for rigour in environmental claims.
“Ideally, you’d want to have reporting on those types of issues that’s just as rigorous and just as reliable as what you have on the financials,” he said. “We’re not there yet, for sure. But that’s where we’re trying to head to.
“One of the problems is an issue called greenwashing, where you have a sustainability report but it’s not a balanced and complete perspective on the impacts of the business around sustainability. It turns into a marketing document.
“That’s something ASIC has been focused on and it’s something we were certainly concerned about.”
Auditors have a key role to play in achieving sustainability because it needs the same sort of scrutiny they apply to financial documents, says CA ANZ reporting and assurance leader Amir Ghandar.
Speaking on a special Accountants Daily podcast to mark Auditor Proud Day — which this year has sustainability as its theme — Mr Ghandar said there were increasing demands for rigour in environmental claims.
“Ideally, you’d want to have reporting on those types of issues that’s just as rigorous and just as reliable as what you have on the financials,” he said. “We’re not there yet, for sure. But that’s where we’re trying to head to.
“One of the problems is an issue called greenwashing, where you have a sustainability report but it’s not a balanced and complete perspective on the impacts of the business around sustainability. It turns into a marketing document.
“That’s something ASIC has been focused on and it’s something we were certainly concerned about.”
Australia has lost its reputation as a marquee destination, and while the tide is turning, the managing partner of Mazars’ Sydney office says there’s still work to do.
Speaking on this week’s Accountants Daily podcast, Matthew Ashley said the firm’s internal mobility programs were integral to the way it operates, but staff relocating to Australia needed reassurance about freedom of movement.
“I think COVID-19 in Australia — its perception from the rest of the world — has created some issues. We’re no longer that marquee destination that everyone wanted to go to,” he said.
“That’s starting to change now that [we’re] seeing that borders have remained open for a lot longer than they were, but it’s still an issue we need to address a little bit.
“If we are going to address this skill shortage, it definitely needs to be a big focus on making Australia that destination. We need to look at our migration policies. How do we make Australia that real marquee place that everyone around the world wants to go and work in?”
Australia has lost its reputation as a marquee destination, and while the tide is turning, the managing partner of Mazars’ Sydney office says there’s still work to do.
Speaking on this week’s Accountants Daily podcast, Matthew Ashley said the firm’s internal mobility programs were integral to the way it operates, but staff relocating to Australia needed reassurance about freedom of movement.
“I think COVID-19 in Australia — its perception from the rest of the world — has created some issues. We’re no longer that marquee destination that everyone wanted to go to,” he said.
“That’s starting to change now that [we’re] seeing that borders have remained open for a lot longer than they were, but it’s still an issue we need to address a little bit.
“If we are going to address this skill shortage, it definitely needs to be a big focus on making Australia that destination. We need to look at our migration policies. How do we make Australia that real marquee place that everyone around the world wants to go and work in?”
A global shortage of accounting professionals means Australia must lift its game on visa processing and offer greater certainty for those willing to relocate, says CPA Australia senior manager Gavan Ord.
Speaking on this week’s Accountants Daily podcast, Mr Ord said Australia had to rethink how it treats skilled migrants to outcompete a range of nations from Canada to the UK to Singapore.
“You’re asking people to move countries and then you’re only providing them a temporary visa for two, three, four years of work. Why would someone leave their home country with their own support networks and come to Australia only to be told four years later, sorry, you’re finished, go home?” Mr Ord said.
“That’s not how it works. People need certainty that they’re going to move into permanent residency.”
Lines between expenses related to business and personal use that became fuzzy during the pandemic need to be brought into sharp focus now, ATO Assistant Commissioner Andrew Watson said.
Speaking on this week’s Accountants Daily podcast, Mr Watson said it was one of three key messages for businesses this year.
“It’s been around for a while as an issue, but probably as we’ve all experienced over the last few years, some of the lines between work and home have blurred as we’ve gone into lockdowns and many business owners – they might have business premises – but have done more work out of home,” he said.
“Just make sure that apportionment is happening and you’re not just claiming business expenses that include an element of private expense.”
Australia is sleepwalking into an economic twilight zone with record debt and an acceptance that budget deficits are with us for the next decade, said Tony Greco of the IPA.
Speaking on the latest Accountants Daily podcast, the general manager of technical policy said there was no appetite for budget repair and nothing in the larder for future downturns.
“We normally try to get back to paying back some of that debt so we project budget surpluses,” he said. “What’s different this time round is no one’s projecting budget surpluses to run down that debt – and that goes against history.”
He said alarms were already being raised with Treasury Secretary Steven Kennedy speaking out soon after the election.
“[He] gave a pretty frank assessment of the challenges ahead, and he himself was saying that we need to repair and build up buffers for future economic downturns,” he said.
The below-expectation June CPI figure of 6.1 per cent does nothing to defuse concerns over rising fuel, materials and labour prices hitting our most vulnerable industries, says the manager of SMEs, insolvency and public practice at CPA Australia, Kristen Beadle.
Speaking on this week’s Accountants Daily podcast, Ms Beadle said for many businesses the pandemic relief measures had just postponed the inevitable and today’s unfavourable economic conditions meant there would be business casualties.
“There’s a lot of stress among our members. This isn’t just food and construction – it’s across the board. There’s a lot of concern around long-term viability,” she said.
Penalties for non-arm’s length income – NALI – in superannuation need legislative change before the compliance honeymoon comes to an end next July, said the superannuation leader at CA ANZ, Tony Negline.
The current law was a problem for all funds but especially SMSFs, said Mr Negline, because it disproportionally penalised innocent mistakes.
Speaking on this week’s Accountants Daily podcast, Mr Negline said the Coalition had left the problem in Labor’s in-tray.
“Hopefully the new government will make an announcement that they intend to amend the law to bring it back to a more reasonable setting,” he said.
“It has to be by legislation. It’s the only way to solve it properly.”
COVID put a rocket into technological adoption among accountants but too many practices are their own worst enemies when it comes to change, says the head of accounting at Intuit Quickbooks, Shaye Thyer.
Speaking on this week’s Accountants Daily podcast – Ms Thyer, a finalist in this year’s Australian Accounting Awards – said that cloud computing was a lifesaver for the industry but decision-making in many larger firms was too cumbersome to benefit.
“One of the biggest things that’s standing in the way of real innovation in our industry is just this lack of decision agility across the mid-tier… get out of our own way, seriously!” Ms Thyer said.
Accountants are helping open the door to alternative sources of finance and investment as the trusted advisers to small business, say the heads of Assetline Capital and AltX.
Speaking on this week’s Accountants Daily podcast, the co-founder of mortgage-backed investment specialist AltX, Nick Raphaely, said accountants were critical because they operated at the “epicentre of their client’s affairs”.
“Whether a client is seeking funds, and goes to their accountant to work out what the best solution is, or whether a client is long on funds and looking for a way to deploy them – either way, the client generally ends up having that discussion with the accountant,” he said.
AltX clients included SMSFs, individuals, companies and trusts, but they needed to be certified as wholesale investors.
“Investors need to bring with them an accountant’s certificate, confirming their income or the assets before they can invest with us,” he said.
“So we never get a new investor at AltX without an accountant by their side.”
The managing director of Assetline Capital, Paul Munt, said it was a similar picture when it came to non-bank lending.
“Accountants are at the heart of these transactions, be it from providing the financials or supporting the income, or actually sitting down with us and having a chat with the client and our credit teams around how to find a solution for the client,” he said.
Over a decade in operation, Assetline Capital had lent $1.8 billion and specialised in tailored credit to companies outside the mainstream.
“We’ve been able to do that through a broad range of products – so we cover construction and development, lending, bridging and short-term finance. And also we’ve just introduced a long-term 30-year debt product,” he said.
“The difference for us has been the ability to get to know the businesses – really understand them in greater detail – and then be quick and agile to meet their needs. So that’s really our point of difference.”
“We have a number of sources of capital and we work with AltX on being one of those.”
“We want to raise the profile of the non-banks and make sure that people understand that there are options out there.
“We like to build relationships and the key people involved in any transactions are the ultimate lender themselves, the accountant and/or the broker partners.”
“So we deal with accountants every day.”
In this week’s Accountants Daily podcast, ATO Assistant Commissioner Tim Loh talks tax agents through the fine print on pandemic deductions, work-from-home claims, rentals, crypto and granny flats.
When it comes to COVID tests, the rules have changed to make them claimable for the first time.
“Taxpayers who’ve paid for a COVID 19 test for work-related purposes – such as, for example, working out whether you can attend or remain at work – can actually claim a deduction for the COVID-19 test. So that could be a PCR test or RAT (rapid antigen test),” Mr Loh says.
“There are a few conditions that you need to satisfy. You must have spent the money and not be reimbursed by the employer. The client must have used it for work-related purposes, so if the client bought the rapid antigen test to work out if they can go on a holiday to Byron Bay with their mates, that’s not going to be a deductible expense.
“And finally, you need a record for it. So receipts are best, and also digital invoices would be a really good record to have to support your claim.”
“A question that always comes up in relation to your children is when they have to use a test to work out whether they can go [to] childcare or school. That’s not deductible, because it’s not directly related to your income.”
In this week’s Accountants Daily podcast, ATO acting assistant commissioner Chris Ryan rejects claims the draft ruling on section 100A reflects overreach or heavy-handedness.
“Although many in the community are suggesting that our view of the law and our compliance approach is a matter of overreach, we don’t believe that’s the case. We’ve come to our position having carefully considered our view of the law, which is consistent with the limited judicial guidance available out there, as well as how we’ve applied the law in a number of compliance cases over several years,” Mr Ryan says.
“What we do know is that many trusts won’t be affected particularly where the beneficiary knows they’re presently entitled, and they receive or enjoy the benefit of their entitlement.
“While the ATO and practitioners also may not agree on how 100A applies, that of itself does not mean that our view of the law is overreach. Where there’s a disagreement as to the operation of law, that should be and can be resolved in a respectful manner.
“I also respectfully challenge the assertion that the ATO’s approach has been heavy-handed. Our approach has been quite the opposite. We’ve reiterated today and previously, that we will stand by the 2014 guidance for distributions made up 30 June 2022.”
In this week’s Accountants Daily podcast Scott Treatt and Robyn Jacobson of the Tax Institute outline some of the challenges facing the new government.
Although there are doubts over the final make-up of the 76-member Senate it is already clear the government will need support from the Greens or independents, Scott Treatt, who is head of tax policy and advocacy at TI.
The Greens supported Labor’s policy for a tax crackdown on multinationals but went further with a proposal for a 40 per cent levy on super profits of large corporations and a “tycoon tax” on billionaires.
“The policies of the Greens, the policies of some of these other minor parties remain relevant in the discussions in the backroom. They’re the discussions which help secure a passage of different bills,” Mr Treatt says.
Another potential headache looms in the shape of fuel excise, says Tax Institute senior advocate Robyn Jacobson, and this arises just before Labor’s October budget.
“After the 28 September, the temporary reduction in the fuel excise is going to jump up by 22.1c,” she says. “This is going to be a very visible form of price increase as we all drive around the suburbs.”
And both Mr Treatt and Ms Jacobson echoed calls from across the tax profession for clarity on a range of unresolved issues since the March budget, from the tax incentive for training and digital spending, to patent box changes, to fixing the non-arm’s length income rules for super.
Today on the Accountants Daily podcast Elinor Kasapidis of CPA Australia says parliament may need to get involved to clear up the high levels of uncertainty surrounding the ATO’s draft ruling on section 100A, released in February.
“Our submission as well as others have raised the prospect of changing legislation around 100A to introduce a time limit to better define some of the concepts, and just to make it clearer to everybody exactly what it should be used for,” she says.
Ms Kasapidis says many CPA Australia members believe the ATO has stepped beyond its powers and the ruling goes too far.
“There are a large number of people who think the ATO has taken a very sort of strict interpretation that really targets everybody - all businesses, all trusts -when they’re thinking it should be far more confined.”
So you've got this general application, lots of technicalities to try and catch everybody. And then people are saying, ‘But that's not what this is for’.
“That's the discussion that needs to be had. CPA Australia, along with the other professional associations, are speaking with the ATO.
“Regardless of where they land, if this is the way the ATO is going to do things there's a bit more work to do in that space, I think, so that people know where they sit.”
Today on the Accountants Daily podcast, Matthew Addison of the Council of Small Business Organisations of Australia says the double whammy of high inflation and an acute skills shortage will hit small businesses hard.
“I’m not sure that Australia, considering a CPI of sevens, eights or somewhere north of that, is one that small business could actually face or endure,” says Mr Addison, who is executive director of the Institute of Certified Bookkeepers as well as chair of COSBOA.
He said rising inflation would also throw the skills shortage into sharp focus, with labour costs already on the rise.
“There is a labour shortage, and that’s going to push wages up,” he says. “Wages are going up by the Superannuation Guarantee increase in June anyway, and there are minimum wage discussions going on at the moment.”
Today on the Accountants Daily podcast, Scott Treatt of the Tax Institute says the ATO’s debt book is ballooning and funding to address the problem needs to put on a proper footing.
An additional $650 million in the recent budget for the Tax Avoidance Taskforce highlights how effective it has been, he says, but creates issues of its own.
“If I look at it from a policy perspective, it is temporary and provides an administration challenge,” says Scott. “That leads to them having contractors as opposed to full-time staff that can be brought in and trained up and given the skill-set to really have an enduring life at the ATO.
Scott also discusses other issues that urgently need attention, such as the disincentives for a second parent to take on full-time work due to the costs of childcare.
Budget incentives for small businesses to spend on technology and training need to be legislated by the next government so that the scheme can get properly underway.
On this special Accountants Daily podcast, Tony Greco, general manager of technical policy at the IPA, says the 120 per cent deductions for investments in skills and digital uptake have stalled on the starting line due to insufficient details.
Tony also talks about another pressure point from the budget for accountants at the end of the low to middle income tax offset – or LMITO – which will look like a tax increase to many clients. Now’s the time to temper expectations, says Tony.
In the wake of Russian-linked cyber attacks on Ukraine, Prime Minister Scott Morrison and the Australian Cyber Security Centre (ACSC) have issued a warning to Australian organisations that malicious activity may have local ramifications.
In this special episode, hear from Major General (Ret’d) Marcus Thompson, former head of the Department of Defence’s Information Warfare Division, as he and host Phil Tarrant discuss Russia’s history of cyber war and how this vector will continue to shape peace and conflict in the future.
The pair dissect the impact of cyber warfare on Australian businesses, offering much food for thought for Australian accountants who hold valuable client data in their books.
MAJGEN (Ret’d) Thompson also reveals how many malicious actors work in concert with state-sponsored groups to exploit the cyber domain and why businesses need to be putting their best foot forward to combat virtual attacks.
In this exclusive interview with shadow financial services minister and shadow assistant treasurer, Stephen Jones MP, join Momentum Media’s editor of mortgages Annie Kane as she speaks to the member for Whitlam about the valuable role that financial advisers and brokers play in supporting Australian borrowers and what the Australian Labor Party would offer the financial services, credit and superannuation space should it win the federal election.
Tune in to find out:
- Why he thinks the FASEA education changes have been a debacle
- The reason he changed from going direct to using a mortgage broker
- What he thinks financial and credit advisers need to be focusing on moving forward
And much more!
With WFH becoming increasingly mainstream, many are wondering whether a return to the office full-time will be a thing of the past.
On this special episode, Fionn Bowd, chief executive of Bowd Legal, takes listeners through why she thinks Australia is entering a “golden age” for offices.
Ms Bowd unpacks the avenues that employers can explore in enticing staff into spaces that are tailored to personal and professional needs. She also fleshes out how creating such an environment can lead to a better work community, collegiality and, ultimately, productivity.
Following the introduction of the SuperStream measures on 1 October 2021, release authorities and rollovers to and from SMSFs are now required to comply with new data and payment standards.
On this special episode, hear from Matt Crofts, head of the Simple Fund 360 product at BGL on the opportunities practitioners have to help clients manage the knock-on effect.
Also hear from Matt on what challenges these changes could bring to the sector, and how practitioners can properly prepare themselves heading into the new year.
As Australia’s borders continue to reopen, so do a number of tax implications.
In this episode of Accountants Daily Insider, Daniel Sparks, partner at Pitcher Partners Sydney joins host Emma Ryan to discuss what Australians need to be wary of when returning home from overseas.
Daniel provides a comprehensive checklist of factors they should consider prior to making the move, and gives an overview of common tax traps many Australians overseas find themselves in.
He also shares how he thinks practitioners are placed to help people navigate the implications, and what the 2022 calendar year will hold for employees and employers alike.
SMSF auditors and accountants have been hit by the “perfect storm” with changes in ATO requirements, new legislation, fee pressures etc, driving significant sector change.
In this special episode of the Accountants Daily Insider, Aquila Super partner and SMSF expert for litigious matters, Chris Levy unpacks some of the main developments and what they mean for the industry, both now and in the future.
As one of Australia’s largest and most experienced SMSF specialists, Aquila Super has become the preferred outsourced SMSF provider for hundreds of accounting practices nationwide.
Here, Chris provides a comprehensive, on-the-ground look at how changes to SMSF audit independence and the steady increase in litigation risk will impact the industry moving forward. He also provides insight on the ATO’s increased presence as a regulator for SMSFs, the impact of COVID-19, and the general pressures currently placed on the SMSF and accounting sectors.
The Australian Tax Office has confirmed it has extended the work-from-home shortcut method. But what else is on the horizon?
In this episode of Accountants Daily Insider, Michael Croker, tax leader at Chartered Accountants Australia and New Zealand joins host Emma Ryan to dissect recent moves made by the ATO and how these changes will reshape conversations with clients moving forward.
Michael gives an overview of what to expect as the profession continues to evolve over the next 12 months and what he thinks will be the biggest challenges employers will need to navigate as their staff return to office.
He also discusses the ATO’s plans to “modernise” the 52¢ per hour fixed-rate method and what he hopes will come from it.
For those in tax law, the modern market is providing ample opportunity to better support Australian businesses and see them flourish.
In this episode of Accountants Daily Insider, hear from ABA Legal Group director Andrew Antonopoulos and associate director Toni Eisenhut on their perspective surrounding the top tax matters they’re seeing come to light.
The lawyers dissect looming legislation and recent regulatory updates, and unpack the opportunities emerging in tax law both now and in the future.
The ATO’s frosty relationship with the tax profession has been well documented in recent years, but change is underway as the Tax Office commits to support and engage more closely with practitioners.
ATO assistant commissioner Sylvia Gallagher joins Accountants Daily editor Jotham Lian in a frank discussion about recent friction between the ATO and the tax profession and how it was never meant to be an “us versus them” situation.
Sylvia also explores the variety of ATO support available to practitioners suffering from increased workloads brought on by the pandemic, and explains how her team will strive to find a solution for struggling practitioners as long as they reach out for help.
She also touches on some upcoming items on the ATO’s agenda, including Single Touch Payroll Phase 2, and the new director identification number regime.
The start date for Single Touch Payroll Phase 2 is fast approaching, but with everything going on around us at the moment, the ATO has decided to provide a short blanket deferral for all employers.
In this episode of Accountants Daily Insider, we partner with Intuit QuickBooks to hear from Lielette Calleja, who sits on the ATO’ STP Phase 2 advisory board, to hear about this latest concession and what it means for practitioners and their clients.
Lielette, the chief accounting technician at the Association of Accounting Technicians and a director and founder of her firm All That Counts, also explains what the expanded reporting requirements of STP Phase 2 will look like, and why the government is asking for this data.
She also shares some key points to help advisers prepare themselves and their clients for the change ahead.
With litigation involving death benefits in SMSFs on the rise, the time is ripe to evaluate your plans and ensure that chances of a dispute occurring down the track are minimised.
In this week’s episode of the SMSF Adviser Show, Cooper Grace Ward partner Clinton Jackson gives hosts Aaron Dunn and Jotham Lian a preview of his upcoming session on succession planning and estate disputes at the SMSF Adviser Technical Strategy Day.
Clinton discusses growing dispute trends, safeguards to avoid estate disputes, and what he thinks of 6-member SMSFs and the opportunities and issues it brings to the table.
Welcome the first edition of the Cyber Security Uncut podcast with our hosts Major General (Ret'd) Marcus Thompson, former head of the Department of Defence's Information Warfare Division, and Phil Tarrant, director — defence and security at Momentum Media.
The Cyber Security Uncut podcast is a fortnightly podcast unpacking Australia's innovative and vibrant cyber security sector, from the latest business trends facing the industry through to breaking global news.
The pair begin by analysing the emerging trends within cyber warfare and the growing use of information operations as an exploitable domain. They also examine how cyber security is an ever growing financial risk to Australian companies, discussing the importance of cyber security protocols within businesses.
The podcast wraps up by analysing the importance of a sovereign cyber security industry in Australia to service the nation's growing cyber security needs.
Enjoy the podcast,
The Cyber Security Connect Team
This year's R U OK? Day serves as an important reminder to open up the conversation on mental health, both in the workplace and at home, according to David Coleman, member for Banks and Assistant Minister to the Prime Minister for Mental Health and Suicide Prevention.
In this special episode, join Momentum Media director Alex Whitlock as he speaks to Mr Coleman.
Together, the pair discuss the importance of shining a spotlight on mental health issues, share why the consequences of stigmatising mental health are significant, and reveal how you can make a difference to your workplace, community, family and friends.
Treasurer Josh Frydenberg this week announced a reduction in ASIC levies for financial advisers, taking fees back to 2018-19 levels. But how did we get to this stage where levies have been constantly rising year-on-year?
In this episode of Accountants Daily Insider, the Institute of Public Accountants group executive of advocacy and policy, Vicki Stylianou, joins host Jotham Lian to provide context around ASIC’s industry funding model and what it was meant to achieve.
Vicki explores how fees have risen dramatically over the years for financial advisers, registered liquidators, and auditors, and delivers a compelling argument on why the government should initiate a blanket freeze for all practitioners.
She also discusses the upcoming review of ASIC’s industry funding model and what she hopes will come from it.
Tax & Super Australia tax counsel John Jeffreys joins host Jotham Lian in this episode of Accountants Daily Insider to take a closer look at why accountants are doing it tougher this year.
With state and territory governments rolling out new business support measures each time a lockdown is announced, John explores how accountants can be better supported as they are constantly relied on to help their clients during this difficult time.
John also looks at how the ATO can play a bigger role in supporting the profession, and why the 85 per cent lodgement benchmark needs to be re-looked at as stress levels rise.
The ATO’s position on non-arm’s length expenditure incurred under a non-arm’s length arrangement has now been finalised, but its interpretation has drawn concerns from all corners of the industry.
On this episode of Accountants Daily Insider, DBA Lawyers director Daniel Butler joins host Jotham Lian and Aaron Dunn to take a closer look at the ATO’s recently released LCR 2021/2.
Daniel considers the expectation gap between the ATO and the industry, key concerns that have arisen, and what the future might look.
Accountants and bookkeepers were an invaluable resource for business clients amid the COVID-19 crisis last year, and the profession has again been called to the frontlines as the country continues to battle through lockdown restrictions.
In this episode of Accountants Daily Insider, Intuit QuickBooks head of advisor strategy Meagan Wood and Oyster Hub co-founder Adarsh Dutt take a closer look at a new report which attempts to quantify the value of advice that the profession has provided over the last year.
The pair explore how accountants have been crucial in delivering not just financial benefits for clients, but also non-financial benefits such as emotional support.
Adarsh compares this year’s Greater Sydney lockdown to last year’s and the differences in business support measures on offer. He also explains how practitioners can ride the wave of trust and appreciation from their clients to position themselves as the advisers of choice.
Tyler Wise, founder and director of Wise Accounting, was first exposed to the brutality of cyber attacks when his firm experienced a malicious phishing attack. He now uses that experience to help other accountants better protect themselves, their firm, and their clients.
In this episode of Accountants Daily Insider, Tyler previews his upcoming session at CPA Australia’s Public Practice Virtual Conference by looking at why accountants are more exposed than ever to cyber-security risks in a remote working environment, and the financial and reputational consequences that come with breaches.
Tyler also looks to dispel the myth around cyber-security costs that could be holding practices back from taking action, and gives his top tips on how practices can protect themselves today.
Find out more about Tyler’s in-depth session, other industry changes and technical updates at CPA Australia’s Public Practice Virtual Conference on 19 August.
The new financial year has just begun, but the road ahead is already looking busy for the SMSF industry.
In this episode of the SMSF Adviser Show, hosts Aaron Dunn and Jotham Lian are joined by SMSF Association deputy CEO Peter Burgess as they take a closer look at the next 12 months in the industry.
Peter talks about key agenda items for the SMSF Association, including federal budget measures that will see close consultation with the Treasury, as well as key issues that advisers should keep an eye out for in the immediate future.
Peter also previews an upcoming project with the University of Adelaide on the investment performance of the sector, and a new project to help make it easier for people to get out of an SMSF when it is no longer suitable for them.
Australian Accounting Awards 2021 Thought Leader of the Year Rebecca Mihalic has had her fair share of challenges as a female in the profession. But she hasn’t let that slow her down and has instead harnessed her experience to shine a spotlight on a range of gender-equality issues to help pave a better way for the next generation.
The businessDEPOT director, founding partner of Aptus Accounting & Advisory, and head of accounting at Practice Ignition also shares her passion for raising awareness on mental health issues, and her focus on cash flow protection for accountants and their firms.
Rebecca also gives host Jotham Lian some of her predictions for the financial year ahead as Australia continues to battle through COVID-19 lockdowns.
The ATO’s debt book has swollen to $34 billion, with COVID-19 exacerbating an issue that has been growing over the years. But who is contributing to this growth, and is the ATO being used as an unofficial bank?
In this episode of Accountants Daily Insider, the Inspector-General of Taxation, Karen Payne, joins host Jotham Lian to discuss her agency’s latest report on undisputed tax debts in Australia.
Karen reveals which industry accounts for the highest levels of debt, the breakdown of taxpayer groups responsible for the growing debt, and how a majority of collectable debts are owed by just a minority.
Follow along with the conversation by accessing the IGTO’s summary slides.
You can also access the full final report here.
Straight out of winning the Accountants Daily Excellence Award at the Australian Accounting Awards 2021, Aly Garrett joins host Jotham Lian to relive a night which saw over 400 practitioners coming together to celebrate a momentous year for the profession.
Aly, founder of All In Advisory, shares the secrets to her success, and why she thinks the accounting profession is so much better off because of the community spirit it fosters rather than a competitive one.
The Partner of the Year (Boutique Firm) also explains why communication is such a vital leadership tool and shares what every budding accountant should do to position themselves for success.
With 30 June fast approaching, we take a closer look at recent developments that could come into play in the new financial year and what they mean for SMSFs.
Host Aaron Dunn discusses the Treasury’s long-awaited exposure draft documents on ECPI measures, as well as two bills set to be debated in the Senate this week — the six-member SMSF bill and the bring-forward rule bill for 65 and 66-year-olds.
Aaron also gives his top tips for SMSFs ahead of the end of the financial year.
Dry tax training sessions that go on for hours on end tend to be a feature of the profession, but does it always have to be this way?
Joyce Ong, founder of Tax Nuggets Academy, joins host Jotham Lian in this episode of Accountants Daily Insider to explain why she left a lucrative career in the profession to change the way we approach tax training.
Named as one of the top 20 future leaders to watch by Chartered Accountants Australia and New Zealand, Joyce explains how she combines her creative flair with her technical expertise to create short and engaging videos — or “lollipops for your brain with hidden veggies”, as she terms it.
Joyce also gives her honest and unbridled take on the current tax training landscape and shares what it’s like to step out as a business owner for the first time.
In this week’s special budget round-up, hosts Aaron Dunn and Jotham Lian take a closer look at all the measures affecting superannuation and SMSFs that are set to kick in from 1 July 2022.
The pair discuss the abolition of the work test for personal contributions, changes to legacy income streams, the relaxation of SMSF residency rules, new super measures addressing housing affordability, and the scrapping of the $450 superannuation threshold.
Aaron explains how these measures will affect SMSF practitioners and their clients, and also shares what he had hoped to see in the budget this year.
It’s a big spending budget with an even bigger net debt approaching $1 trillion. But what does it all mean for the profession, and how will it impact your clients?
The Institute of Public Accountants’ general manager of technical policy, Tony Greco, joins host Jotham Lian in this week’s episode of Accountants Daily Insider to unpack all the big-ticket measures from this year’s budget that will have an impact on practitioners and their clients.
Tony shares his initial reaction to the budget, tackling everything from tax cuts to superannuation, while taking a closer look at some glaring omissions that continue to haunt the profession.
Kristine Woods has spent over 33 years fighting seven chronic autoimmune diseases, had to deal with blindness in her right eye, and now has a permanent port implanted in her chest after her veins failed in 2017. Despite these challenges, she has refused to let them limit her, and has now gone on to set up her own successful bookkeeping firm, The Accounts Ladies.
In this episode of Accountants Daily Insider, Kristine tells host Jotham Lian how she balances her life as a mother, a business owner and a BAS agent, all while having to deal with different treatments and setbacks.
Kristine shares her advice on how to deal with adversity, and how she is determined to continue achieving new goals and giving back to the community.
It’s been over a year since we first entered lockdown, yet accountants are still reeling from the additional workload heaped upon the profession.
In this episode of Accountants Daily Insider, businessDEPOT founder and managing director John Knight joins host Jotham Lian to look at the ongoing issues facing the profession, including staff burnout, talent shortage and impending deadlines.
John also shares some tips to improve firm culture after a year of working from home and his advice to fellow practitioners as they head into the busy tax season.
In this week’s episode of Accountants Daily Insider, Class senior analyst Angelique Faes takes a closer look at trust administration and why it’s ripe for disruption.
Angelique talks about the popularity of trusts, common pain points in trust administration, and how Class is looking to change things.
She also covers some recent acquisitions at the company and what it means for the future of Class.
Chartered Accountants Australia and New Zealand superannuation leader Tony Negline takes a closer look at the ATO’s recent announcement on non-arm’s length income and what it means for practitioners and trustees.
Tony tells hosts Aaron Dunn and Jotham Lian how the ATO’s draft law companion ruling means that if an SMSF’s affairs are not structured correctly, then, even for a minor expenditure, all the income of the super fund — ordinary and statutory income — could face income tax at the highest marginal tax rate.
He also shares his concerns with the legislation underpinning NALI and what he is ideally hoping for ahead of the ATO’s finalised law companion ruling.
Former ATO assistant commissioner Colin Walker joins us in this episode of Accountants Daily Insider to provide a closer look at the inner workings of the Tax Office and how its “us versus them” approach has changed over the years.
Colin tells host Jotham Lian how he’s transitioned from 45 years in the public service into a new role at the Institute of Certified Bookkeepers and what he intends to achieve in his new position.
He also explores what the future of the profession will look like, talks about what he thinks of the accountant and bookkeeper relationship, and shares some advice for up-and-coming talents joining the profession today.
In this special episode of Accountants Daily Insider, three industry heavyweights come together to discuss the current economic environment and explore how accountants will play a vital role in Australia’s recovery.
Institute of Public Accountants CEO Andrew Conway, Reckon Group CEO Sam Allert and Prospa co-founder Beau Bertoli all come together to share their perspectives on the end of JobKeeper, the high level of trust that businesses have in their accountants, and how accountants will continue to be relied on heavily over the next year.
The trio also look at how the pandemic has changed the way we look at digital readiness and speak about some of the biggest opportunities for accountants in 2021.
The rollout of Single Touch Payroll seems like just yesterday, but we now have the second phase lurking on the horizon.
In this episode of Accountants Daily Insider, host Jotham Lian is joined by the Institute of Certified Bookkeepers executive director, Matthew Addison, to explore everything related to STP Phase 2 to help prepare practitioners and their clients for the 1 January 2022 deadline.
Matthew goes over why the change is happening, what advisers need to be doing now and key dates to remember.
He also discusses the upcoming end of STP concessions for micro-employers and closely held payees, and explores the government’s mandate for e-invoicing.
On this week's episode of Accountants Daily Insider, we take a closer look at the Institute of Public Accountants and the Association of Accounting Technicians and their plans for members this year.
Host Maja Garaca Djurdjevic is joined by IPA chief executive Andrew Conway and All That Counts founder and director Lielette Calleja, who has recently joined the AAT as its chief accounting technician.
Andrew and Lielette talk about the packed agenda that both the IPA and AAT have ahead for their members this year. They also discuss their thoughts on the variety of lockdown approaches by the state and territory governments through the COVID-19 pandemic, what might be on the cards for the 2021-22 federal budget, as well as when the IPA will resume running in-person events.
While many in the profession are looking at 2021 as a year of consolidation, others, like Andrew Van De Beek, are jumping straight in and seizing opportunities as they come.
In this episode of Accountants Daily Insider, host Jotham Lian is joined by Illumin8 founder Andrew Van De Beek to explore why and how he has grown his firm from a team of 10 to 17 in just a few short months.
Andrew also discusses his firm’s recent acquisition of a warehouse, and a new partnership with e-commerce co-working and warehousing provider CLIK Collective.
The pair also explore what constitutes a great team culture and what practice owners can do to make sure they are keeping their staff motivated and involved with the firm’s vision.
A turbulent year has seen the profession grow closer than ever, with accountants and bookkeepers tipped to continue to tap on collaborative opportunities over the next 12 months.
All That Counts founder and director Lielette Calleja joins host Jotham Lian in this episode of Accountants Daily Insider to talk about why the profession should continue to build on professional relationships developed through the pandemic and lean on their networks.
Lielette also chats about her recent appointment as Chief Accounting Technician at the Association of Accounting Technicians, and what she thinks practitioners will need to upskill on over the coming year.
It’s been a turbulent year for the accounting profession and it has been no different in the accounting M&A space. But the phones are back ringing and deals are being actively discussed.
Magnus Yoshikawa, director at Jadeja Partners, joins host Jotham Lian in this week’s episode to take a look at the accounting M&A market over the past 12 months.
Magnus looks at how COVID-19 has shifted trends in the market over the past few months, examines whether we’re in a buyer’s or seller’s market, and gives his best tips to practice owners looking to enter the market.
With ASIC exploring how access to affordable advice can be improved, including scaled or limited advice, BT head of financial literacy and advocacy Bryan Ashenden discusses what Consultation Paper 332 means for the future of advice.
Bryan talks to hosts Aaron Dunn and Miranda Brownlee about some of the challenges and barriers impeding the provision of limited advice, particularly in the SMSF context.
He also explores what a new model of advice regulation could look like and what ASIC’s role will be in regulating the industry following the wind-up of FASEA.
Tax Practitioners Board member Debra Anderson joins host Jotham Lian in this first episode for 2021 to take a closer look at the year that’s been and what’s in store for the next 12 months.
Debra speaks candidly about the toll of a whirlwind 2020, how she’s been stretched ethically and morally in dealing with her clients, and why she thinks accounting practitioners will continue to be kept busy throughout the new year.
She also touches on some key changes that have been proposed by the independent review of the TPB and how they might affect practitioners in the coming months.
2020 will certainly go down in the history books as one of the toughest years faced by the accounting profession. But now that the year is up, what will 2021 hold for practitioners?
In this final episode of Accountants Daily Insider for 2020, host Jotham Lian is joined by The Tax Institute’s senior advocate, Robyn Jacobson, to take stock of the incredible year that has passed, and to shine a light on what’s to come in the new year.
Robyn reviews the wide range of tax measures introduced this year, and explores a number of outstanding issues that the profession will have to contend with over the next 12 months.
She also looks at the implications of a number of completed and ongoing reviews, and explains why the profession will need to embrace tax reform in the coming year.
The SMSF Association and Rice Warner have now released comprehensive research investigating the operating costs of SMSFs and how they compare with APRA-regulated funds.
SMSF Association deputy chief executive Peter Burgess explains to hosts Aaron Dunn and Miranda Brownlee what some of the key findings of the research are and what they mean for the provision of advice on SMSFs and superannuation in general.
Aaron and Miranda also discuss some of the key developments this month, including ASIC’s consultation on the impediments facing advisers providing scaled advice and the release of the Retirement Income Review.
A new report by CPA Australia has found that the economy could be better off by $630 billion if properly implemented professional advice was available to all Australians.
In this episode of Accountants Daily Insider, CPA Australia head of public practice and SME Keddie Waller joins host Jotham Lian to explore the new Value of Advice report and why we need to rethink the way professional advice is regulated and move towards a client-centric model.
Keddie looks at the benefits of obtaining advice, what’s holding back consumers and businesses from accessing such advice, and why we need a more accessible and affordable advice framework.
With the Accountants Daily 30 Under 30 Awards being delivered as a live broadcast on Thursday, 3 December at 7:30pm AEDT, we are bringing you a series of podcasts showcasing the finalists across a multitude of categories.
In this episode, Accountants Daily editor Jotham Lian is joined by Jane Betschel, head of marketing and digital sales at MYOB, principal partner of the awards, and two finalists who share how they are feeling about having gained recognition as part of the upcoming awards.
With the Accountants Daily 30 Under 30 Awards being delivered as a live broadcast on Thursday, 3 December at 7:30pm AEDT, we are bringing you a series of podcasts showcasing the finalists across a multitude of categories.
In this episode, Accountants Daily editor Jotham Lian is joined by Ingrid Cronin-Knight, head of accountant management and acquisition at MYOB, principal partner of the awards, and two finalists who share how they are feeling about having gained recognition as part of the upcoming awards.
With the Accountants Daily 30 Under 30 Awards being delivered as a live broadcast on Thursday, 3 December at 7:30pm AEDT, we are bringing you a series of podcasts showcasing the finalists across a multitude of categories.
In this episode, Accountants Daily editor Jotham Lian is joined by Caroline Wright, head of product at MYOB, principal partner of the awards, and two finalists who share how they are feeling about having gained recognition as part of the upcoming awards.
MYOB chief executive Greg Ellis joins host Jotham Lian to look back over 2020 and examine some of the trends that the accounting software provider has seen through the pandemic.
Greg also reveals what MYOB is looking to pursue in the new year, and shares how it has been like to steer MYOB through the crisis in his first year at the helm.
Greg also discusses the upcoming Accountants Daily 30 Under 30 Awards and why it’s so important to recognise and celebrate the work and achievements of upcoming accounting professionals.
In this podcast, Aaron Dunn, CEO of Smarter SMSF, and Miranda Brownlee, deputy editor of sister brand SMSF Adviser, delve into some of the key insights shared during the SMSF Adviser Technical Strategy Masterclass.
They discuss some of the key topics of the event including the proposed requirement to have SMSFs prepare their accounts 45 days before the lodgement deadline and changes to make the relief for electronic execution of documents permanent.
With many of the presentations also outlining important strategy considerations arising from policy changes and potential legislative changes, they will also touch on what means SMSF professionals need to be thinking about with the advice they provide.
Around 5,000 accountants are set to benefit from mental health first aid training following an investment of $2.24 million from the government.
The Institute of Public Accountants chief executive Andrew Conway joins host Jotham Lian to unpack what the project will look like over the next two years, what accountants can expect from the training, and why such training is so important for practitioners on the frontline.
Andrew also reflects on the year that has passed, shares how proud he is of the profession, and offers some predictions for the year ahead.
“If you’re feeling unsettled, anxious or stressed, we all are. That’s absolutely normal in circumstances we find ourselves in,” Beyond Blue chief executive Georgie Harman said.
Last month, Accountants Daily sister brand MyBusiness hosted a special, three-day, virtual event to help small-business owners wade through the rough COVID-19 seas.
Editor Maja Garaca Djurdjevic chatted with Georgie Harman about the importance of mental health in the workplace and why it’s everyone’s business.
Ms Harman shared some key tips to help employers recognise when their employees may be mentally struggling through the coronavirus crisis and steps to take to help them navigate through the tough environment.
Ms Harman also provided some key tips that small-business owners can use to check in with themselves.
If you are suffering from depression, anxiety or suicidal thoughts, or you’re worried about someone else and feel that urgent professional support is needed, contact your local doctor or one of the 24/7 crisis agencies below:
Beyond Blue: 1300 22 4636
www.beyondblue.org.au
Lifeline: 13 11 14
www.lifeline.org.au
Suicide Call Back Service: 1300 659 467
www.suicidecallbackservice.org.au
The ATO has released its tax gap estimates for all 15 income and transactional-based taxes for the first time ever, believing $31.2 billion went missing in 2017-18.
Tax & Super Australia tax counsel John Jeffreys joins host Jotham Lian to unpack the different tax gaps, including the small business tax gap, which remains the largest gap by dollar value and percentage figure.
John also dissects the ATO’s sample of agent-prepared returns requiring more adjustments than self-prepared returns and gives his take on how to reduce the tax gap.
With the federal budget now handed down, hosts Miranda Brownlee and Aaron Dunn discuss the measures impacting superannuation, what was missing from the budget this year, and the government’s plans for the SMSF sector in the near future.
While SMSFs emerged unscathed from the budget this year, they outline why there could still be major changes to superannuation tax and retirement income further on the horizon, with the government yet to respond to the Retirement Income Review.
They also provide an update on some of the recent announcements from regulators and recent appointments in the industry.
The federal budget contained a range of tax measures aimed at incentivising businesses and individuals to spend and invest to kickstart the economy.
Five of those tax measures have now been rolled into a single piece of legislation, which passed both houses of Parliament on Friday.
On this episode of Accountants Daily Insider, The Tax Institute’s senior advocate, Robyn Jacobson, joins host Jotham Lian to go through the finer details of each measure contained in the omnibus tax bill.
Robyn looks at the personal income tax cuts, the temporary loss carry-back, expanded access to small business tax concessions, the turbocharged instant asset write-off, and the R&D tax incentive changes.
The JobKeeper program switches over on 28 September and with it a number of high-level changes that practitioners and their clients will have to wrap their heads around.
On this episode of Accountants Daily Insider, the Institute of Public Accountants general manager of technical policy Tony Greco joins host Jotham Lian to discuss the new decline in actual GST turnover test, the two-tiered payment rate, and other key details.
Tony also runs through some crucial action points for practitioners to work through with their clients over the coming days and weeks.
In this week’s episode of Accountants Daily Insider, Xero’s chief product officer Anna Curzon joins host Jotham Lian to explore the impact of COVID-19 on their accounting and bookkeeping community.
Anna also runs through the latest findings of Xero’s small business insights special report and walks through what Xero is doing this year in place of its annual Xerocon.
For many of us, it seems like an eternity since restrictions were first imposed in March. Every aspect of life has been impacted in one way or another, including the way we do business.
In this episode of Accountants Daily Insider, Smithink director David Smith joins host Jotham Lian to look at the way the health pandemic has impacted accountants all across the country, while giving a sneak peak into his upcoming session at the Accountants Daily Strategy Week.
David shares some key learning points that we should takeaway from the crisis and the changes that have been forced onto many accounting practices, including how the age-old excuse of ‘my clients want it that way’ no longer stands.
In the build up to the Accountants Daily Strategy Week, we shine a spotlight on one of our upcoming speakers.
Business Automation Works chief executive Stan Corner joins host Jotham Lian in this week’s episode of Accountants Daily Insider to give a sneak peek into his upcoming session at the Accountants Daily Strategy Week.
Stan shares how the idea behind ATOmate was formed, how COVID-19 has changed the way firms view client engagement, and where he sees the profession headed to in the future.
Employing nearly half of all Australians, small businesses are absolutely vital for the nation's economy. Alex Brgudac has been on the ground supporting this sector through the rollercoaster ride that is COVID-19 in his role as the head of partnerships at online lender Prospa.
Alex joins host Maja Garaca Djurdjevic in this episode of Accountants Daily Insider to talk about Prospa's transition to remote working conditions, the sentiment among his SME clients throughout the crisis, and the effectiveness of the government's support schemes thus far.
He also explains how businesses have been pushed to positively adapt, what he expects to happen in the SME sector over the next few months, and shares some words of advice to small businesses that are struggling at the moment.
It's been five months since the government's JobKeeper scheme was rolled out to help support businesses through the financial difficulties brought on by the pandemic, and changes are still being announced.
RSM associate director, Tracey Dunn, joins host Jotham Lian in this episode of Accountants Daily Insider to discuss all the changes and tweaks to the scheme that have been announced so far, and how practitioners can keep their business clients informed in this turbulent time.
Tracey explains the 1 July employment date change, how it applies under the "one in, all in"; principle, the key proposals from the JobKeeper 2.0 announcements, and why the lack of legislative instrument or ATO guidance around the new changes is problematic.
With stage 4 restrictions now imposed in Melbourne, many accounting and bookkeeping practices are now required to close their onsite workplaces and work from home.
In this episode of Accountants Daily Insider, Andrew Van De Beek joins host Jotham Lian to discuss how the new restrictions have impacted his Mount Eliza based firm Illumin8, what the sentiment among his business clients is like at the moment, and how he's keeping his team motivated and connected while working remotely.
Andrew explains how the regulations have changed the way his team engages with their clients, details the initiatives they've put into place to address these issues, and shares some advice for other firms that are looking to embrace technology and digitise their processes.
The ATO has claimed a 12 per cent increase in tax returns lodged in the first two weeks of July compared with the same time last year, but practitioners aren't convinced they are seeing the same spike in their business this tax time.
H&R Block director of tax communications Mark Chapman joins host Jotham Lian in this episode of Accountants Daily Insider to discuss the ATO's recent decision to stop breaking down the lodgement split between tax agents and myTax, and what he hopes for the future of myTax to provide a level playing field with agents.
Mark reflects on how tax time 2020 has been so far, the changes he's noticed in his clients' claims, and his words of advice to other practitioners dealing with tax time this year.
With a whole range of legislative changes and so many Australians under financial stress as a result of COVID-19, this year's tax time is sure to bring its own set of challenges for practitioners.
In this week's episode of Accountants Daily Insider, host Jotham Lian is joined by the managing partner at Pitt Martin Accountants & Tax Advisers and this year's Australian Accounting Awards Accounting Consultant of the Year, Teddy Kosasih, to talk about the common issues he's witnessing with regard to tax time 2020.
Teddy explains why many people are lodging their tax early this year, outlines how practitioners can best support struggling business clients, and shares some tips on managing client expectations.
The Inspector-General of Taxation and Taxation Ombudsman (IGTO) provides an important, free service to assist taxpayers with complaints and concerns around the ATO and the TPB.
In this episode of Accountants Daily Insider, host Jotham Lian is joined by the Inspector-General of Taxation, Karen Payne, to outline the role of her office in the broader tax system, new stats around taxation complaints over the last few months, and the process of escalating tax administration concerns.
Karen explains why she endorses the simplification of the taxation of deceased estates, the key recommendations out of the Senate Economics Legislation Committee's inquiry, and the IGTO's plans for the coming financial year.
Amid what has been a turbulent end of financial year, it is likely for many advisers and clients that the introduction of the Director Identification Number regime may have gone unnoticed.
In this episode of Accountants Daily Insider, host Jotham Lian is joined by Jamie Towers, tax partner at Mazars, to deep-dive into what the passing of this law will mean for directors over the coming months and years, and the penalties involved for those who do not embrace the new system.
Jamie will explain why ASIC has chosen not to rely solely on tax file numbers, unpack your responsibilities as an adviser amid the changes, and share the practices and strategies that they are adopting at Mazars.
As the EOFY approaches, advisers are facing the new challenge of providing guidance to their clients around incorporating pandemic-triggered measures into their financial decisions.
In this episode of Accountants Daily Insider, host Sarah Kendell is joined by Michael Hutton, personal wealth management partner at HLB Mann Judd, to break down the key issues that are affecting his clients in the lead-up to tax time.
Michael explains some helpful strategies for advisers to consider for different client situations, from landlords with struggling tenants to those approaching retirement and to people with more cash than anticipated.
The National Tax Clinic program is a federal government funded initiative that helps financially vulnerable small businesses and individuals to navigate the tax system.
On this episode of Accountants Daily Insider, the founding director of UNSW's Tax Clinic, Dr Ann Kayis-Kumar, joins host Jotham Lian to discuss how the program works, which demographics are eligible for this service, and how the pandemic has impacted the community she works with.
Ann explains how the clinic finds its clients, the types of services offered by the clinic, and the benefits of increasing pro-bono services for the tax profession at large.
With the first-ever Accountants Daily Australian Accounting Awards happening as a live broadcast hosted by Vince Sorrenti on Friday, 19 June at 7pm AEST, we are bringing you a series of podcasts showcasing the finalists across a multitude of categories.
In this episode, Accountants Daily editor Jotham Lian is joined by Paul Glossop, CEO of Standard Integrated Lending, Gold Partner of the awards, and two finalists who share how they are feeling about having gained recognition as part of the upcoming awards.
The halfway mark of the government's COVID-19 stimulus measures is approaching and the conversation is beginning to shift towards how businesses can best position themselves to recover from the current crisis.
In this episode of Accountants Daily Insider, host Jotham Lian is joined by the managing director of businessDEPOT, John Knight, to talk about how his firm's virtual Rebound event came about and the key themes that have been discussed in these webinars.
John reveals the number one priority for businesses to be working on right now, discusses how the potential changes to the JobKeeper program will affect small businesses, and shares his advice to fellow colleagues in the industry as we head into tax time 2020.
With the first-ever Accountants Daily Australian Accounting Awards happening as a live broadcast hosted by Vince Sorrenti on Friday, 19 June at 7pm AEST, we are bringing you a series of podcasts showcasing the finalists across a multitude of categories.
In this episode, Accountants Daily editor Jotham Lian is joined by Peter Vroom from Cerebiz, Platinum Partner of the awards, and two finalists who share how they are feeling about having gained recognition as part of the upcoming awards.
With the first-ever Accountants Daily Australian Accounting Awards happening as a live broadcast hosted by Vince Sorrenti on Friday, 19 June at 7pm AEST, we are bringing you a series of podcasts showcasing the finalists across a multitude of categories.
In this episode, Accountants Daily editor Jotham Lian is joined by Terry Rodoni from at Cerebiz, Platinum Partner of the awards, and two finalists who share how they are feeling about having gained recognition as part of the upcoming awards.
With the first-ever Accountants Daily Australian Accounting Awards happening as a live broadcast hosted by Vince Sorrenti on Friday, 19 June at 7pm AEST, we are bringing you a series of podcasts showcasing the finalists across a multitude of categories.
In this episode, Accountants Daily editor Jotham Lian is joined by Malika Siyali, market development and agile lead at Thomson Reuters, Gold Partner of the awards, and two finalists who share how they are feeling about having gained recognition as part of the upcoming awards.
In this episode of Accountants Daily Insider, host Jotham Lian is joined by Matthew Addison, executive chair of the Institute of Certified Bookkeepers, to break down the latest developments on the JobKeeper front.
Matthew explains some of the complications that have arisen around meeting JobKeeper deadlines, a new concession regarding enrolments for the months ahead, and an amendment that ensures employers are not subject to additional superannuation guarantee obligations by participating in the scheme.
Matthew also shares his insight into concerns around cash-flow boost payments, the implications of Single Touch Payroll on this year's tax lodgements, and his tips for practitioners on getting through the coming weeks.
With the first-ever Accountants Daily Australian Accounting live broadcast Awards 2020, hosted by Vince Sorrenti on Friday June 19 7pm AEST, we are bringing you a series of podcasts showcasing the finalists across a multitude of categories.
In this episode, Accountants Daily editor Jotham Lian is joined by Luis Sanchez, general manager of Receipt Bank, Gold Partner of the awards, and two finalists who share how they are feeling about having gained recognition as part of the upcoming awards.
With the first-ever Accountants Daily Australian Accounting live broadcast Awards 2020, hosted by Vince Sorrenti on Friday June 19 7pm AEST, we are bringing you a series of podcasts showcasing the finalists across a multitude of categories.
In this episode Accountants Daily editor Jotham Lian is joined by Andrew Conway, CEO of the Institute of Public Accountants, Gold Partner of the awards, and two finalists who share how they are feeling having gained recognition as part of the upcoming awards.
With the first-ever Accountants Daily Australian Accounting live broadcast Awards 2020, hosted by Vince Sorrenti on Friday June 19 7pm AEST, we are bringing you a series of podcasts showcasing the finalists across a multitude of categories.
In this episode Accountants Daily editor Jotham Lian is joined by Roman Kaczynski, director of Accountancy Insurance, Gold Partner of the awards, and two finalists who share how they are feeling having gained recognition as part of the upcoming awards.
With pandemic-triggered JobKeeper enrolments and cash-flow boost lodgements beginning to ease, practitioners are starting to turn their attention towards tax time 2020.
The general manager of partner experience at Xero, Amanda Newton, joins host Jotham Lian on this episode of Accountants Daily Insider to share her insights into the challenges she foresees for accountants in the lead-up to the EOFY and some practical tips for practitioners in balancing their workloads come tax time.
Amanda also reflects on the extraordinary resilience of the profession over the last few months, the sorts of concerns raised by accountants throughout the coronavirus crisis, and the post-pandemic outlook for the accounting sector.
With the Accountants Daily Australian Accounting Awards 2020 set to occur as a live broadcast event Friday June 19, we are bringing you a series of podcasts showcasing the finalists across a multitude of categories.
In this episode Accountants Daily editor Jotham Lian, is joined by platinum partner of the awards Brendan Wright, CEO of FAST, and two finalists who share how they are feeling having gained recognition as part of the upcoming awards.
With the Accountants Daily Australian Accounting Awards 2020 set to occur as a live broadcast event Friday June 19, we are bringing you a series of podcasts showcasing the finalists across a multitude of categories.
In this episode Accountants Daily editor Jotham Lian, is joined by platinum partner of the awards Brendan Wright, CEO of FAST, and two finalists who share how they are feeling having gained recognition as part of the upcoming awards.
In April, Momentum Intelligence conducted a major survey to understand how the coronavirus pandemic has been affecting the nation's professional services industries.
The head of strategy at Momentum Intelligence, Michael Johnson, joins host Jotham Lian on this episode of Accountants Daily Insider to analyse the findings of the MyBusiness COVID-19 Sentiment Survey, revealing how accountants' revenue, workload volumes and mental health situations have been impacted.
Tune in to find out how the accounting sector compares to other industries, the satisfaction rate among accountants towards the government's stimulus measures, and the overall industry sentiment when looking to a post-pandemic future.
On this episode of Accountants Daily Insider, the senior tax counsel at The Tax Institute, Professor Robert Deutsch, dissects the ATO's recently released guidance material regarding the JobKeeper payment scheme.
Bob and host Jotham Lian break down Law Companion Ruling 2020/1, Practical Compliance Guideline 2020/4, and Practice Statement Law Administration 2020/1.
Bob explains how each statement provides more clarity around government support, reflects on the overarching concerns of members at the moment, and shares some advice to practitioners on navigating the current crisis.
With all face-to-face FASEA exam sessions replaced with online exams as a result of COVID-19 and the bill to extend the 1 January 2021 compliance deadline in limbo, many advisers are expressing concerns about passing the test in time.
On this episode of The ifa Show, host Sarah Kendell is joined by Joel Ronchi, the principal consultant of myIntegrity in Practice, a training organisation that specialises in preparing advisers for the exam.
Joel outlines some of the concerns he's been hearing from advisers around sitting the exam remotely, what is driving the trend of fewer advisers passing over time, and how advisers can adequately prepare themselves for taking the exam in the coming months.
On this episode of Accountants Daily Insider, Tax & Super Australia's senior tax counsel, John Jeffreys, unpacks the most pressing industry concerns around the government's COVID-19 financial assistance packages.
John specifies the final enrolment date for the JobKeeper payment scheme, amendments that need to be made to the enrolment form and issues in relation to satisfying the decline in turnover test.
He also addresses confusion regarding cash-flow boosts for employers, outlines the industry response to the ATO's automatic blanket deferrals and shares his message to accountants on navigating this challenging time.
The economic impacts of COVID-19 mean that many accountants have become unemployed or inundated with new work, both of which can put an immense strain on one's mental health.
Renowned wellness expert Graeme Cowan joins host Jotham Lian on this episode of Accountants Daily Insider to share his personal experience with mental illness, how he became involved in creating R U OK?, and his most trusted resources for COVID-19 information.
Graeme provides some practical tips for accountants in navigating their own difficult circumstances as well as the emotional distress of their clients, and outlines his technique for effectively working from home.
With the COVID-19 pandemic forcing more businesses to implement flexible work arrangements, host Jo Cronolly is joined by the CEO and founder of Practice Protect, Jamie Beresford, to discuss the main considerations for accounting, bookkeeping and financial services practices during this difficult time.
Jamie will share his top tips for ensuring that your team members are working safely and securely with company and client information, explain why the current environment is attracting an increased number of security risks for businesses and individuals, and talk about the policies that he believes all workplaces should have in place when staff are operating remotely.
Jamie will discuss Practice Protect's security consultation services as well as the importance of structure in a work-from-home environment, and will share his thoughts on how this global pandemic may change the workplace of the future.
With the urgency of providing financial relief to Australian businesses and individuals during the COVID-19 crisis, new government policies and support packages don't have the luxury of time and, consequently, have not been fed through their usual consultation process.
On this episode of Accountants Daily Insider, host Jotham Lian is joined by the Institute of Public Accountants' general manager of technical policy, Tony Greco, to delve into some of the technical issues that have arisen over the latest government regulations.
Tune in to hear about businesses' attempts to manufacture entitlement to cash-flow boost payments, the industry response to the JobKeeper subsidy plan, and what the IPA is doing to support its members through this challenging time.
The government this week announced a second economic stimulus package worth $66.1 billion to help support Australians through the financial crisis brought on by COVID-19.
Tax leader for Australia at Chartered Accountants Australia and New Zealand Michael Croker returns to Accountants Daily Insider with host Jotham Lian to break down the new regulations targeted towards SMEs.
Michael provides his insights into the technicalities around calculating tax-free cash payments, the insolvency relief measures for company directors, and the somewhat controversial temporary early release of superannuation.
Amid the ever-changing landscape of a global pandemic, it's a critical time for accountants to reach out to clients who need support and keep them informed.
On this episode of Accountants Daily Insider, host Jotham Lian is joined by Michael Croker, tax leader for Australia at Chartered Accountants Australia and New Zealand, to delve into the government's economic stimulus package and the ATO's response to the coronavirus crisis.
Michael explains how the package will deliver support for business investments and provide businesses with cash-flow assistance, and outlines the additional state measures that are set to take some pressure off tax requirements.
With recommendations from the Hayne royal commission and inquiry into superannuation yet to be addressed, CPA Australia's general manager of external affairs, Paul Drum, claims that members have grown quite sceptical of reviews.
Paul returns to Accountants Daily Insider with host Jotham Lian to outline some of the issues raised by members around the current reviews into retirement income and aged care, CPA's perspective on raising superannuation guarantee contributions to 12 per cent, and how practitioners should go about dealing with all of this change.
Paul also provides his take on industry anxiety around myGovID, details CPA's pre-budget submission to help those affected by bushfires and drought, and explains the implications of these businesses not having access to financial guidance on the economy at large.
In Rebecca Mihalic's experience, women in the accounting profession can often face gender bias, whether it be in the form of unintentionally discriminatory language or an underrepresentation of females in leadership roles.
In the lead-up to International Women's Day this Sunday, 8 March, the businessDEPOT director, founding partner of Aptus Accounting & Advisory, and head of accounting at Practice Ignition, joins host Jotham Lian to reflect on the gender-specific challenges she's faced throughout her 20-year accounting career.
Rebecca explains how the repetitive nature of certain behaviour made her feel inadequate as a young accountant, shares what helped rebuild her confidence, and provides advice for other young professionals in the accounting space.
On this episode of Accountants Daily Insider, TaxBanter's senior tax trainer, Robyn Jacobson, explains the implications of the passing of the Superannuation Guarantee Amnesty Bill, which now awaits royal assent.
Robyn joins host Jotham Lian to provide her insight into journal entry practices in the industry, how the government can provide the profession with certainty around proposed changes to Division 7A, and what actions practitioners need to take in the lead-up to 1 July.
She also shares what advisers need to know about a new law regarding CGT main residence exemption, impending changes to Single Touch Payroll, and legislative adjustments regarding agents' access to deceased clients' information.
While the goal of tightening regulation in the tax practitioner space is to ultimately increase the quality of the profession, the burden can sometimes be difficult and even unnecessary for certain practitioners to commit to.
On this episode of Accountants Daily Insider, host Jotham Lian is joined by the general manager of external affairs at CPA Australia, Paul Drum, to share his opinion on the TPB's proposal of significantly increasing CPE requirements for all tax practitioners.
Paul also details CPA's pre-budget submission relating to reducing the regulatory burden faced by accountants, outlines other short-term recommendations intended to stimulate the economy, and explains how the voucher proposal for small businesses to engage a professional adviser came about.
Host Jotham Lian is joined by Michael Carruthers on this episode of Accountants Daily Insider to discuss incoming legislative changes in the tax realm.
The tax director at Knowledge Shop delves into the implications of the Combating Illegal Phoenixing Bill, other debt obligations that director clients can be liable for, and what practitioners need to know about the Superannuation Guarantee Amnesty Bill.
Michael also shares the headline recommendations of the Board of Taxation's recent review of small business tax concessions, current trends in the training space, and what the recent acquisition of TaxBanter means for Knowledge Shop.
In this episode of Accountants Daily Insider, Professor Robert Deutsch, senior tax counsel at The Tax Institute, delves into key tax issues that accountants should be paying close attention to over the next year.
Robert joins host Jotham Lian to share his insights into the international activities that are likely to trigger repercussions in the Australian tax sector, the problems currently occurring in the fringe benefits tax space, and the implications of legislation regarding the denial of CGT main residence exemption for foreign residents.
Robert also forecasts his predictions for this year's federal budget, recommends how to improve the relationship between practitioners and the Australian Taxation Office, and provides details about The Tax Institute's national convention, The Tax Summit 2020.
All too often, property investors are so focused on returns that they neglect to consider the tax implications of their investments.
On this episode of Accountants Daily Insider, host Phil Tarrant is joined by the acting assistant commissioner of individuals and intermediaries at the Australian Taxation Office, Adam O'Grady.
Adam dissects statistics around the property investment space in Australia, outlines key policy changes which investors should be aware of, and breaks down the process for making changes to tax law.
According to director at LMS Advisory Alexander Laureti, policy changes are a great opportunity for accountants to review and improve relationships and processes with their clients.
In this episode of Accountants Daily Insider, Alexander joins host Sarah Kendell to discuss the implications of upcoming changes in the accounting space, including the transition from AUSkey to myGovID, the implementation of Single Touch Payroll and the imminent rollout of e-invoicing.
Alexander shares his insight around timing such transformation projects, the feedback he's received from clients in response to the changes, and the challenges and opportunities he foresees for the industry in the year ahead.
On this episode of Accountants Daily Insider, George Morice outlines the key issues that accounting firms and their small business clients will be facing in 2020.
The accounting director of Prime Partners joins host Sarah Kendell to shed some light on how accountants can support their struggling business-owner clients, the importance of technology in increasing productivity, and why his firm is providing complementary strategic resources for SMEs seeking growth.
George also explains how firms can future-proof their businesses, why adding value and bettering client relationships is the most critical aspect of a successful practice, and how accountants can play a role in helping their rural clients rebuild in the aftermath of Australia's bushfire crisis.
With the devastating bushfire crisis currently gripping Australia, 2020 is predicted to be a turbulent year across all industries and the accounting profession will not be exempt from these challenges.
Director of Smithink David Smith joins host Sarah Kendell on this episode of Accountants Daily Insider to share his insights into the types of issues that accounting firms might face in attempting to rebuild from the impact of the fires.
David also emphasises the importance of a strong digital marketing strategy for accounting firms, suggests how business owners can combat the challenge of recruiting and retaining employees in the industry, and provides recommendations on the most beneficial new initiatives that accountants should consider in 2020.
On this episode of Accountants Daily Insider, host Sarah Kendell sits down with the executive manager of SMSF technical and private wealth at SuperConcepts, Graeme Colley, to discuss recent regulatory developments in the SMSF space and the subsequent impact on industry professionals.
Mr Colley shares his views on whether claims made by ASIC in their fact sheet on SMSFs are exaggerated or misleading, runs through the standard costs for servicing different types of funds, and explains the difficulties in comparing performance figures when considering SMSFs versus APRA funds.
He also outlines SuperConcepts' involvement in the consultation process with the ATO and the new non-arm’s length income (NALI) laws, suggests how the regulations can be amended to provide a more practical solution for accountants, and responds to the contentious topic of the ATO's campaign around investment strategy.
Accountants working with clients investing within their SMSF will be familiar with the recent ATO campaign sent to around 17,000 trustees warning that they may not have adequately considered diversification in their investment strategy.
In this episode of Accountants Daily Insider, host Sarah Kendell is joined by the director of Tactical Super, Deanne Firth, who will discuss how the campaign has impacted the SMSF audit space and considerations for accountants to be aware of.
She will share how the campaign has led to her surveying her clients, explain how some clients are in fact more diversified that they seem on paper, and unpack the role of financial advisers in overseeing the diversification of their clients' investment funds.
2019 has been a period of technological transformation in the accounting industry, and according to general manager at MYOB, Blake Collins, it's only going to expediate in the coming year.
Blake joins host Sarah Kendell on this episode of Accountants Daily Insider to provide insight into how accountants can optimally embed technology into their businesses; what firms can do to prepare for the transition to myGovID; and how new tech platforms will enable a simplified, more efficient way of working for accountants.
Traditionally, clinical psychology focuses primarily on the faults, failings and weaknesses of patients in order to effectively treat psychological disorders. Positive psychology represents a shift away from this deficit approach to one that concentrates on emphasising strengths and happiness as a means to mental wellbeing.
On this episode of Accountants Daily Insider, chief happiness officer at The Happiness Institute, Dr Tim Sharp, joins host Jerome Doraisamy to outline the key benefits offered by positive psychology, explain the generalised principles that professionals can implement in their daily lives, and reveal how he personally adopts this model of psychology in his own life.
Dr Happy breaks down the difference between popular psychology and positive psychology as represented on social media, debunks the common misconception that so-called negative emotions should be avoided, and suggests the importance of using flexible methods of thinking in different circumstances.
In part two of this special episode of Accountants Daily Insider, brought to you by the Governance Institute of Australia, the general manager of policy and advocacy at the Governance Institute of Australia, Catherine Maxwell; the principal of PKF Australia, Kym Reilly; and the director of people and advisory services at EY, Mathew Ronald, once again join host Sarah Kendell to further delve into the findings of the Australian Ethics Index survey.
They will discuss how the accounting sector fares comparative to other professional associations in Australia, the role that culture plays within an organisation, and the importance of dealing with “bad apples”.
The panellists also discuss artificial intelligence within accounting, how AI will integrate with human roles, and the impact that it will have on ethics within the sector.
According to recent data, banking and finance professionals are publicly perceived to be the least ethical professional service in the country.
In this special episode of Accountants Daily Insider brought to you by the Governance Institute of Australia, host Sarah Kendell is joined by the general manager of policy and advocacy at the Governance Institute of Australia, Catherine Maxwell, PKF's principal, Kym Reilly, and Mathew Ronald, director of people and advisory services at EY.
The panel break down the key findings of the Governance Institute's Ethics Index for 2019 pertaining to banking and finance professionals, suggest reasons for public distrust in the financial services sector, and provide advice for accountants to improve their ethical perceptions.
With the ATO now visiting about 10,000 Australian companies every year, should business owners have anything to fear? ATO assistant commissioner Peter Holt speaks straight from the source.
Mr Holt joins host Adam Zuchetti in this episode of Accountants Daily Insider to share insights from the business visits program, dispel misconceptions around what employers can expect, and discuss the current trends in business compliance.
Tune in as Mr Holt reveals why the ATO is making such a big deal about the black economy, what inspectors have discovered by visiting Aussie businesses, and what the Tax Office really thinks about discounts for cash payments.
According to Hot Toast founder and director Sarah Lawrance, CFO services are an essential offering of any forward-thinking firm.
In this episode of Accountants Daily Insider, she joins host Sarah Kendell to discuss why accounting practices should incorporate CFO services, suggest ways of implementing them into an established firm, and detail how her company prices these capabilities.
Recent figures show that over 800,000 small businesses are currently on payment plans with the ATO to help them to pay off their tax debt in instalments.
On this episode of Accountants Daily Insider, host Sarah Kendell is joined by My Business editor Adam Zuchetti to delve into the reasons why this statistic is so high, whether pervasive fears of the ATO from small businesses are justified, and how accountants and regulators can help support SME cash flow to create better outcomes.
On this episode of Accountants Daily Insider, host Sarah Kendell and Gary Weisz, director of strategic accounts and alliances for accountants at Sage, discuss how the implementation of customisable software can assist firms in bettering relationships with new and existing clients and improve efficiency, communication and collaboration.
Mr Weisz also recommends ways that accounting firms can overcome resistance to technology, stemming both from clients and from within their businesses.
With the introduction of digital requirements such as Single Touch Payroll, accounting practices are being encouraged to embrace the paperless movement. However, not all firms are enthusiastic about the inevitable switch to digital.
In this episode of Accountants Daily Insider, the strategic partnerships manager of Receipt Bank, Christopher McColm, shares his insights with host Sarah Kendell about how accounting firms can change their attitudes towards going paperless, talks about the importance of empathy for historical businesses that have already been through abundant change, and addresses the widespread misconception that accountants might lose revenue due to technology replacing so many aspects of their role.
CPA head of public practice Keddie Waller joins us on this week's episode of Accountants Daily Insider, speaking with host Sarah Kendell on the rising costs and regulatory burden for accountants providing holistic advice.
Ms Kendell talks about the complex regulatory regime that currently exists, why the accountants' exemption is not the answer, and some recommendations to ease the burden on accountants.
BDO partner Ben Renshaw joins host Sarah Kendell on this episode of Accountants Daily Insider to discuss the resurrection of the SG amnesty bill.
Mr Renshaw details key dates to take note of, explains why even businesses with the best intentions might make mistakes, and explores how the introduction of single touch payroll will give the ATO greater visibility over non-compliance than ever before.
On this week's episode of Accountants Daily Insider, Inspector-General of Taxation and Taxation Ombudsman Karen Payne joins host Sarah Kendell to talk all things about her agency and unpack the IGT's corporate plan for the next four years.
Ms Payne explains how her office can assist tax practitioners and clients with various issues, shares what compliant trends she is noticing at the moment, and explores some possible reviews in the pipeline.
On this week's episode of Accountants Daily Insider, host Katarina Taurian is joined by the deputy editor of SMSF Adviser Sarah Kendall to discuss the current issues and challenges the SMSF space is faced with.
Sarah and Katarina discuss the ATO's decision to look into diversification for SMSF's, the discussion around physical signatures versus electronic for documentation and the importance of broader estate planning.
On this special episode of Accountants Daily insider, R U OK? non-executive director Graeme Cowan explains what it means to identify, trust and act on the signs and symptoms of ill-health in the workplace - not just today, but every day.
This week's episode of Accountants Daily Insider sees host Katarina Taurian joined by Scottish Pacific chief executive Peter Langham, and Cohen & Krass director Tony Cohen to discuss why the new Business Funding Guide is useful for the accounting profession.
Mr Langham explains why the Business Funding Guide was developed in conjunction with the Australian Small Business and Family Enterprise Ombudsman (ASBFEO) and why it is such an important tool amid the credit crunch.
Mr Cohen also talks on why the guide is so useful for his graduates and why the accounting education landscape has to change to accommodate the changing needs of small business clients.
On this week’s episode of Accountants Daily Insider, host Katarina Taurian is joined by the honourable Bruce Billson, former minster for small business, to talk all things financing in the SME space.
Bruce discusses the critical issues facing SMEs when trying to obtain funding, what life is really like for SMEs on a daily basis, and what needs to happen at a government level for changes to kick in. He also shares why some Australians are turning back to traditional forms of lending.
In this episode- brought to you by Accountants Daily sister title, Smart Property Investment Chief Economist from AMP Capital, Dr Shane Oliver joins host James Mitchell to discuss the recent rate cuts and the Australian share market.
Dr Oliver discusses the current economic situation in Australia, the rate cutting cycle and the impact on the housing market. He also shares what impact the rate cuts will have on the share market and his main predictions for the Sydney and Melbourne markets.
CEO of Licensing for accountants Kath Bowler joins host Katarina Taurian on this week’s episode of Accountants Daily insider to discuss all things FASEA and what it means for the financial advice space.
Kath shares what steps accountants need to take to ensure they are able to continue to provide financial advice, reactions from industry professionals around the changes and her top 5 tips for nailing the implementation of the changes.
This week on Accountants Daily insider Katarina Taurian is joined by Matthew Pisarski from Intuit QuickBooks to discuss change management and why it is so important for firms to be able to adapt to new technologies.
In the accounting world technologies are forever evolving Matthew shares key themes in change management the importance of having a plan in place and how he tackles people who aren’t as receptive the new technologies as others. They also discuss what is in the pipeline for intuit and technology in the accounting space.
Self-proclaimed hype girl for accounting apps and thought leadership finalist at this year’s Australian Accounting awards Heather Smith joins host Katarina Taurian on this week’s episode of Accountants daily insider.
Heather shares her definition of thought leadership, why she lives by the saying “my practice lives in my handbag” and change for the next generation coming through the ranks.
The pair also discuss the image of the accounting profession, why it is no longer appealing to students and the quality and relevance of what is being taught in schools and tertiary environments.
Founder and director of Hot Toast Sarah Lawrence has had a varied career. A love of storytelling saw her involved in everything from documentary making to children's television, and only a few months ago, Sarah was on stage accepting an award for CFO of the year at the Australian Accounting Awards.
In this episode of Accountants Daily Insider, Sarah joins host Katarina Taurian to reflect on this journey, explain how a mentor made her fall in love with the financial sector and unpack the role of a CFO. She also discusses the birth of the "Hot Toast" brand, the type of clientele that she is working with and why not every potential client makes the cut.
Public practitioner of the year Teddy Kosasih partner at Pitt Martin, joins host Katarina Taurian on this week’s episode of Accountants Daily Insider to talk about what made him take the public practice path.
Teddy reflects on taking out the practitioner of the year award at the Australian accounting awards, his thoughts on what makes a good practitioner, how he hires for public practice, the skill sets he looks for to be able to tap into different markets, and how he started his own practice.
In this week’s episode of The Accountants Daily Insider host, Katarina Taurian is joined by Amanda Gascoigne, to talk about how she shifted her career as an accountant to coach and mentor small and solo accounting practices.
Amanda shares her accounting journey and how she has gotten to where she is today, she talks about being awarded a Fellowship of Charted Accountants ANZ in recognition of her outstanding contribution to the accounting profession and she shares her secrets on how she encourages accountants to see their potential.
Grant Quick, Senior Solutions Engineer at Intuit QuickBooks, joins host Katarina Taurian in this episode of the Accountants Daily Insider to talk all things Single Touch Payroll (STP) compliance, what it means after June 30 and what is on the horizon for FY20.
Grant reveals the key dates around STP compliance, how business will be affected, and his thoughts on how STP will streamline processes. The pair also talk about what is next from a tech prospective and why businesses need to embrace changes to become more efficient.
Chris Balalovski partner, Business Services at BDO Australia, joins host Katarina Taurian in this episode of Accountants Daily Insider to discuss key dates for end of financial year and why accountants are moving away from bread and butter accounting work into advisory.
Chris reveals why accountants need to be diversifying their practices to cope with changes, considerations for property investors and the weirdest requests clients have attempted to claim.
Jonathan Tefal, director and senior accountant from Senior Advisory, joins host Katarina Taurian in this episode of Accounts Daily Insider to reveal how they are tackling the evolution of technology within the accounting sector, and to reflect on recently taking out the award for Boutique Firm of the Year at the Australian Accounting Awards.
Jonathan reveals how they endeavour to continually set their firm apart from the rest, what's next for Senior Advisory, and his thoughts on creating the perfect balance between technology and human touch.
In this episode of Accountants Daily Insider, finalist in the Thought Leader of the Year category at the recent Australian Accounting Awards, Edward Chan, joins host Katarina Taurian to discuss his career in accounting and reveal how he ended up running an accounting firm "almost by accident".
Edward will discuss how setting up an accounting firm in a time when computers were just making their way into the industry differs from setting one up in the current technology climate, share his thoughts on what makes a strong leader, and how he is giving back to the sector through means of mentoring and coaching.
With the 1 July Single Touch Payroll deadline looming, Lielette Calleja, director at All That Counts, joins host Katarina Taurian in this episode of Accountants Daily Insider to reveal what she wished she had known when starting the planning process with her clients, and to discuss the exceptions for microbusiness.
Lielette will reveal how she has approached an internal audit to best prepare herself for the changes, why she thinks it will be a learning curve for all involved parties, and will share a word of advice for those yet to start the process.
In this episode of Accountants Daily Insider, host Katarina Taurian is joined by a colleague and editor of both Momentum Media's suite of wealth titles James Mitchell to discuss their thoughts on the federal election campaign and outcome.
James will reveal the sentiment on the ground within the financial advice community, why he believes the campaign did not convey clear messaging. He will also address how unexplained reform may have impacted the election outcome.
In this special episode of Accountants Daily Insider, host Katarina Taurian is joined by a colleague and editor of both Mortgage Business and The Adviser publications to reflect on the result of the federal election, with Scott Morrison holding his position as Prime Minister.
They will reveal how outcomes of polls across their platforms for mortgage brokers and accountants always showed a clear swing in favour of the Liberal Party, begging the question: are accountants and small businesses a better barometer than traditional polling?
In this episode of Accountants Daily Insider, host Katarina Taurian is joined by STP program lead at the Australian Taxation Office, John Shepherd, and director and founder of All That Counts, Lielette Callleja, to discuss the small business uptake of STP in light of the forthcoming July 1 deadline.
Busting common STP myths surrounding business portals and myGov accounts, they unpack the employee benefits and capabilities that the myGov platform offers and discuss the opportunities that STP provides small business.
Finally they address the special provisions for those without the supporting infrastructure to implement STP, and discuss the ATO app, which is now complete with voice activation.
In this episode of Accountants Daily Insider, journalist for both Lawyers Weekly and Wellness Daily Jerome Doraisamy joins host Katarina Taurian to discuss how professional service firms' failure to accurately measure levels of staff productivity is impacting both their bottom lines and the efficiency of their staff.
Jerome will reveal why this issue is often unaddressed, taking into account community stigma surrounding mental health and wellness, why measuring the issue is the first step in managing it, and how companies can take that first step to create an environment where staff feel empowered to take individual responsibility for themselves and their work output.
Accountants have a seat in the boardrooms of Australia's most powerful companies, and they're a huge chunk of, and a trusted adviser to, the SME community. As a profession, accountants are among the most influential in the country.
At a time when accountants and tax are an election issue, it's more important than ever to have your voice heard. Both the Prime Minister and the Opposition Leader are locking horns over the deductibility of tax agent's fees. Without both sides of government correctly understanding the nature of what accountants do, detrimental policy could get over the line.
How do you have your say? Sequel CFO founder and managing director David Boyar - a thought leader finalist in this year's Australian Accounting Awards - and editor of Accountants Daily Katarina Taurian talk through how you can influence the future of your profession.
It has been almost a year since the notifiable data breaches legislation came into effect, and in this time the ATO has been working on introducing various new security measures, many of which will impact accountants.
In this episode of Accountants Daily Insider, host Katarina Taurian is joined by Jamie Beresford, CEO of Practice Protect, and Ron Lesh, managing director at BGL, to discuss the impact of these changes on individuals within the sector and also the role of the accounting firm in managing the passwords and security of their practices and staff.
They will discuss a potential future shift away from password authentication, the different "levels" of passwords that people tend to use in different circumstances, and whether further education is needed in the field of cybersecurity.
Away from the hype of cash splashing and tax cuts, there were some proposals in this year's federal budgets which will be welcome news to accountants and their clients.
Our head of editorial Katarina Taurian is joined by the Institute of Public Accountants' Tony Greco to run through the headline changes impacting tax practitioners, including how accountants "can be heroes at tax time" by taking note of some key income tax changes.
Accountants and small businesses in their droves are finding it tougher than usual to secure finance for the personal and business activities.
In this sponsored podcast, Accountants Daily chats to Spotcap about their experience in the current market with finding new credit options, and their thoughts on what the short to mid-term outlook is for accountants and their clients.
In particular, they talk through the experiences, wins and struggles of some of their new and existing clients, and what their plans for 2019.
After years of delays, the tax office has finally begun its rollout of new online services for tax and BAS agents.
Assistant commissioner at the ATO, Andrew Watson, gives exclusive insight to Accountants Daily Insider about the current, planned and proposed features for the online services platform.
Mr Watson also talks big picture - the ATO is charging towards a digital-only environment, which has a significantly knock-on impact to both tax and BAS agents and their end clients.
With the federal election drawing closer there are a number of proposed issues which could impact those within the accounting sector.
In this episode of Accountants Daily Insider, host Katarina Taurian is joined by Geoff Stein, partner at Brown Wright Stein Lawyers to unpack these potential changes and discuss some which have been recently announced.
Geoff will take an in-depth look at the proposal to cap the deductibility of accountant fees and some of the issues that it will likely cause, and further discuss trust structures following the announcement surrounding trust income interest rates.
Having previously joined the Accountants Daily Insider podcast to discuss his studies, Michael Johnson now joins host Katarina Taurian having recently completed the chartered accountant program.
Michael will discuss his drive to seek a designation and unpack his thoughts on how it can set an accountant apart in the crowded new graduate space. He will also talk about how he thinks the designation will help his career path, the parts of his education that were most beneficial as well as the gaps in his learnings that education providers should look into placing more focus on.
With the recommendations of the banking royal commission set to heavily impact the broking sector, many other industries are wondering how the changes will affect them. The accounting sector is one such area which will be sure to see an overflow effect.
In this episode of the Accountants Daily Insider Podcast, Momentum Media director and founder of The Adviser – one of the leading publications for mortgage brokers in Australia – Alex Whitlock joins host Katarina Taurian to share his thoughts around the recommendations, why changes to the broking industry is worrying for accounting and whether the recommendations are likely to go ahead.
With the Institute of Public Accountants calling on the government to target its reforms to boosting productivity in the workforce, director of hammerjack, Nick Hastings joins host Katarina Taurian in this episode of Accountants Daily Insider to explore what productivity pain points accountants talk to him about, and how service providers are responding.
Nick and Katarina will chat through the experiences of firms who choose to take on an outsourcing partner, including how unknowingly subscribing to cultural stereotypes has been a barrier to firms looking for scale.
In this episode of Accountants Daily Insider, director and founder of All That Counts, Lielette Calleja joins host Katarina Taurian to share her thoughts on the different experiences that women face within the accounting and business sector.
Lielette will discuss her time founding All That Counts, her position as director at AAT and her involvement in a new start-up this year, and address her expectations on consolidation between the bookkeeping and accounting sectors in the year ahead.
In light of the tightened lending economy, Lielette will also talk about how she and her husband recently struggled to obtain finance, and her advice for sorting finance applications for clients in the current market.
In this episode of Accountants Daily Insider, HLB Mann Judd partner Peter Bembrick joins host Katarina Taurian to unpack why, in the lead up to the election, a focus is being placed on foreign residency tax law.
Peter will explain the benefits of being a non-resident for tax purposes, yet also reflect on the traps that people can fall into as a result. He will explain what can trigger a “red flag” and raise ATO scrutiny for your clients, and discuss your responsibility to those who may be “playing with fire”.
Peter will also reveal the areas where people tend to make mistakes and the implications that these mistakes can have for anyone who has an investment property in Australia or other non-property-based investments.
In this episode of Accountants Daily Insider, Trent McLaren, head of accounting and sales at Practice Ignition, will discuss his relocation to London following a year of growth within his organisation.
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 and how it stands comparative to other markets around the world, and unpack his plans for Practice Ignition as a business that will look completely different two years from today.
In the final episode of Accountants Daily Insider for 2018, host Katarina Taurian is joined by Terry Braithwaite to reflect upon the top 5 themes which resonated with the Accountants Daily audience across 2018.
They will discuss the huge growth and engagement of the brand, reveal how you can have your say on what they are covering, and give some insight into what can be expected from Accountants Daily heading into 2019.
In this episode of Accountants Daily Insider, Greg Hayes, the chairman of both Knowledge Shop and Hayes Knight joins host Katarina Taurian, to share his thoughts surrounding education within the accounting sector.
Backed by more than 30 years of experience within the accounting industry, Greg will discuss how technology has impacted change for those new to the business, and share his expectations for new graduates within the sector.
With pending education changes on the horizon for those offering financial advice, Greg will address why he sees this as an opportunity to better the industry and shares if he has seen an uptake for education by professionals as a result
The government’s proposal to introduce a three-year audit cycle for some SMSFs has received extensive criticism from key professional bodies within the accounting industry, with many unable to see any benefit to the proposal and instead identifying potential for a growth in compliance breaches.
On this episode of Accountants Daily Insider, host Katarina Taurian is joined by executive general manager of technical services at ASF Audits, Shelley Banton, who will discuss her thoughts on the proposed changes, and the likelihood of the policy going ahead.
They will discuss the issues that will arise as a result of the changes, how it could lead to privacy risks for SMSF clients, and if there is any evidence that the proposal will actually help the integrity of the accounting sector.
Relationships in the workplace have been under the spotlight in 2018, fuelled by the prevalence of the Me Too and Time’s Up movements and even Malcolm Turnbull’s infamous ‘Bonk Ban’.
On this episode of Accountants Daily Insider, host Katarina Taurian is joined by colleague Jerome Doraisamy, journalist on both Lawyers Weekly and Wellness Daily to discuss why the issue has seen such scrutiny throughout the year and how these issues will likely look moving into 2019.
They will discuss the difficult issue of workplace relationships and the rights of both the involved parties and the employer, how management can approach the subject with employees and when it would be appropriate to do so.
Earlier this year, Labor floated a plan to cut cash refunds for franking credits. The policy has been met with considerable backlash in the accounting community, and a federal government inquiry is now underway to investigate the real-world impact.
In this episode of Accountants Daily Insider, host Katarina Taurian is joined by Member for Goldstein Tim Wilson who is leading this inquiry. Tim will share why he believes the policy will fail to deliver the desired outcome, the huge financial impact that it could have on retirees, and whether there are suggestions that this will lead to diversification of assets for many as a means of minimising the overall impact on their pocket.
Tim will unpack how they plan to report on the inquiry, what will likely occur as a result of their findings, and how individuals can have their say on the proposal and get their thoughts and concerns heard.
In this episode of Accountants Daily Insider, Katarina is joined by the president of the IPA Damien Moore, who will discuss the journey of transitioning his accounting practice into a larger organisation as part of a merger.
Damien will explain his reasoning behind the decision, the non- negotiable factors that he stood by throughout the process, and how he was able to make the transition as smooth as possible for his existing clients.
Damien will also share how he first entered the accounting field, the implications that technology is having on the industry and share his thoughts surrounding the topic of mental health as a responsibility for those working within the sector.
In this episode of Accountants Daily Insider, Katarina is joined by the chief executive of the IPA Andrew Conway, fresh from his on-stage presentation surrounding client wellness in the accounting sector at the world congress of accountants.
Andrew will unpack the findings of the research conducted by the IPA which looks at depression and anxiety in business owners and how accountants can have a positive impact on those struggling under pressure.
He will discuss the work that they are completing internally to aid development of this issue within the industry, the important social role that accountants play, and what they are planning to do with these findings.
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In this episode of Accountants Daily Insider, Katarina is joined by colleague James Mitchell, the editor of the wealth titles within Momentum Media and previously editor of their mortgages suite of titles, to discuss the impact that the royal commission has had on the financial sector.
James will discuss the impact of the negative publicity on the banks, how he feels it will shape the future of the banking industry going forward and why those with a referral-based business plan are benefiting in the current market.
With a growing number of Australians investing in the property market beyond simply owning their principal place of residence, it is becoming more and more common for accountants to be advising clients on issues surrounding their portfolios.
In this episode of Accountants Daily Insider, Katarina is joined by colleague Andy Scott, who has recently added a third property into his and his wife's investment portfolio, to share the moment he realised the importance of a strong relationship with his accountant. He also explains why, after hopping between multiple accountants for years, he now has no intention of looking elsewhere.
Andy will share how his accountant went about forming a strategy that would work toward his desired outcomes, discuss how frequently he is in touch with his accountant and unpack the one thing that Andy wants from his accountant each time he is contacted by him.
The SMSF sector has seen significant change in the past 5 years but, as Katarina Taurian explains, next year is set to see further major shake-ups.
In this episode of Accountants Daily Insider, Katarina is joined by Terry Braithwaite to unpack her concerns surrounding government and regulatory “tinkering” that accountants should educate themselves on and how these changes could impact them going forward.
With ASIC facing mounting pressure to produce results, Katarina shares why smaller operations may be the most at risk and what to expect for those attending the upcoming SMSF summit.
With one-third of Australians involved in a passion project and one in ten successfully running that passion as a side hustle the start-up space in Australia has seen a boom in recent years.
In this episode of Accountants Daily Insider, host Katarina Taurian is joined by My Accounts' Noel Tiufino to discuss how, with so many new start-ups emerging, many fail to consider the issue of compliance.
Noel will unpack where he sees clients go wrong when creating a start-up, the importance of building a business plan and a budget which have synergies between them and how he has seen the start-up space change during his 11 years in the industry.
The IPA small business white paper recently announced findings that their members believed that payroll tax was disincentivising growth within their businesses, however Treasury findings seem to suggest that not to be the case.
In this episode of Accountants Daily Insider, host Katarina Taurian is joined by Momentum Media’s management accountant Michael Johnson, who will share which side of the argument he believes to be correct. He will unpack how businesses that he has been involved with feel towards payroll tax and the concerns that he has heard from business owners surrounding the issue.
Michael will also discuss the introduction of single touch payroll and the process of its implementation within Momentum Media.
Reckon and the Institute of Public Accountants recently announced a partnership to produce IPA Books +
In this episode of Accountants Daily Insider, chief executive of IPA Andrew Conway and chief executive of Reckon Sam Allert join host Katarina Taurian to discuss this partnership and the drivers behind it.
They will unpack what will be available to IPA members as a result of this deal, how regular feedback will shape the future of the platform going forward and Andrew will share why the association chose this path for its member base.
They will also share plans regarding the future of the partnership, development plans and how training and support to IPA members will be provided to help them best utilise the platform.
Single Touch Payroll is one of the biggest reporting changes for the tax profession in years.
In this episode of Accountants Daily Insider, host Katarina Taurian is joined by STP program lead at the Australian Taxation Office John Shepherd, who runs through how the first STP deadline fared for employers and the ATO alike.
John also reveals some good news for accountants and bookkeepers about reporting requirement changes, and what small business can expect for their July 2019 deadline. Spoiler alert: there’s flexibility for microbusiness on the horizon.
This episode is proudly bought to you by Attaché Software
With Westpac recently increasing their interest rate independent of the RBA whose rates have remained unchanged it is likely that some business owners may be feeling the strain.
In this episode of Accountants Daily Insider host Katarina Taurian is joined by Momentum Media's Alex Whitlock who unpacks which businesses in his opinion should be concerned about rate rises and how he and his business partner have managed to keep their business debt free - at times even having to pay employee salaries out of their own pockets.
Alex will share how their accountant has been pivotal in shaping and developing their business since its conception and discuss the pain points that they have faced along the way.
Three weeks have passed since Katarina started working with her new accountant, a transition which she admits she entered into with high levels of anxiety.
In this episode of Accountants Daily Insider, director of Prime Partners Laela Hansen joins Katarina to discuss why as an accountant people skills and keeping your clients calm are imperative.
Laela will unpack why you should focus on listening to your client rather than proving your credentials, why you shouldn’t buy into the urgency of a stressed client and offers advice for those wanting to start their own accounting firm.
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Host Katarina Taurian is just starting out in a new relationship. Following a parting of ways with her last accountant, which she describes as "harder than her most difficult break-up", she is now in the process of regaining that trust and relationship with a new accountant.
Momentum Media's Alex Whitlock joins Katarina to discuss this new partnership, and unpack why this trust with clients is such an important element of the business and could be the key factor why accountants continue to rank well in the Governance Institute of Australia"s Ethics Index report following the royal commission.
Alex will also discuss how his accountant was able to help grow his business and property portfolio, and analyse the importance of a referral in a competitive market.
In this episode of Accountants Daily Insider Momentum Media’s Alex Whitlock joins host Katarina Taurian to unpack the idea of a psychological bubble that he believes exists surrounding the Australian economy, and to share his thoughts on how the current property market ties into this concept. Katarina will address the normalisation of extensive mortgages in Australia comparative to other parts of the world and the pair will discuss how money can be made when buying property rather than when selling it. Alex will also analyse the economic conditions that have both helped and hindered his business development during his time in Australia and share his thoughts on the Australian workforce as a whole.
The architect of the Future of Financial Advice (FOFA) reforms, Bernie Ripoll, reveals what he thinks the regulatory environment will look like in the fallout of the Royal Commission, and if a Labor government gets into power. Mr Ripoll is certain the tales of misconduct and scandal being revealed about the major banks in particular will have a permanent, transformative impact on the legislation and regulation that governs accountants and financial advisers. www.accountantsdaily.com.au
Anxiety, depression and other mental health conditions are beginning to get the prominence they deserve in public debate. Professional services, accounting included, is a particular hot spot for stress given the long hours and deadline driven world accountants exist in. Join editor Katarina Taurian and author of The Wellness Doctrines Jerome Doraisamy as they discuss how to recognise if you or an employee is suffering, quick wins to help mitigate a bout of anxiety, and where accounting sits as far as anxiety levels go in the Australian business community. www.accountantsdaily.com.au
Join the Accountants Daily team as they discuss the most unusual tax time claims that have come across the news desk this week. From dogs to designer fashion, some clients have tried hard to get creative claims over the line. Katarina Taurian and Terry Braithwaite also read between the lines of the flurry of partner appointments this week, and find FY19 is a good time for SMEs in accounting land. www.accountantsdaily.com.au
In this episode of Accountants Daily Insider, KPMG's managing partner for Western Sydney, David Pring, speaks to Katarina Taurian about what the big four firm is doing in Greater Western Sydney, and why it's a hot spot of opportunity for accountants. David talks through the popular and emerging service lines, what the competition is doing, and why he's confident the non-metropolitan area is not just a temporary boom market. www.accountantsdaily.com.au
Timesheets are the historic backbone to accountants' pricing models, but they're on the out in many firms. There's a strong business case to ditch documenting your time, but it seems the humble timesheet has a sentimental hold on the accounting profession. Accountants Daily chats to Prime Partners director James Carey, who fills us in on why his firm is scrapping time sheets in the new financial year, and how he's managing productivity, pricing, and the force of habit www.accountantsdaily.com.au
Some professional accounting bodies made the news for all the wrong reasons last year. This left us wondering: do young accountants care about professional designations? Join Accountants Daily editor Katarina Taurian as she grills aspiring CA, Michael Johnson, on why he has chosen further study. Michael also has a few cheeky shots at his peers who took the CPA route. All in good fun, and all here for you to tune into! www.accountantsdaily.com.au
Join the Accountants Daily tag team of Terry Braithwaite and Katarina Taurian for a rundown of the week that was. Katarina gets fired up about FASEA, the Royal Commission and ASIC, while Terry settles the mood with a wrap of the Australian Accounting Awards. The team share their learnings and observations from the gala dinner in Sydney last week, including advice for accountants who are considering throwing their hat in the ring next year. www.accountantsdaily.com.au
New accounting standards - the most significant in years - are currently being rolled out. Chair and CEO of the Australian Accounting Standards Board, Kris Peach, talks through what the changes are, and where the profession needs to start paying attention. On top of that, there are also proposals to change current financial reporting framework. Tune in to hear what they are, and how you can have your say before they are set in stone. www.accountantsdaily.com.au
In this latest episode of the Accountants Daily Insider podcast Terry Braithwaite and Katarina Taurian discuss the soon to be introduced education requirements which are set to impact those offering financial advice in coming years. They will look at the implications that these changes will have for those both new to the industry, and those who already have extensive training and experience. Katarina will also share her hopes and what we can expect to see in the upcoming budget.
Large firms are shaking up their recruitment policies and the jobs market in Australia has hit a wall, but there are still major opportunities in tax and accounting for smart candidates. In this latest Accountants Daily podcast, we chat to senior consultant at Brewer Morris, Toby Tank, about the tried and tested methods to success for accountants looking to further their careers in 2018. Toby also talks through some cultural wins and barriers that you could face on the career ladder in the age of #metoo, social media and a less sticky workforce.
Former KPMG Demographics partner Bernard Salt explains what he really meant with his smashed avocado comments, much to the satisfaction of our brunch enthusiast editor, Katarina Taurian. He also talks about how he managed to effectively launch a start-up within a big four firm, in the form of KPMG Demographics, with advice to those looking to take similar chances in their own careers. Bernard's predictions for the future of Australia's property markets paint a good picture for small to medium accounting firms in particular, and he's confident of commercial opportunities outside of capital city CBDs despite of current infrastructure barriers.
In his trademark blunt style, BGL's Ron Lesh talks to editor Katarina Taurian about what the new reporting obligations for SMSFs mean in 2018, and why he wasn't happy with how the some of the accounting bodies handled their consultation approach. He also takes a swing at the evolution of online marketing in the accounting software space, and gives insight to BGL's approach to software and marketing development in 2018 and beyond.
Sponsored podcast: In this episode of the Accountants Daily podcast, we discuss the ever-growing issue of cyber security for Australian accountants, and the legislative triggers that mean putting risk mitigation strategies in place is no longer optional. Joined by Karen McDonald, Associate Director of Professional Risk at Accountancy Insurance, editor Katarina Taurian examines what a cyber security threat looks like in 2017, and how accountants can protect themselves and their clients from a data breach. www.accountantsdaily.com.au
The lending landscape for accounting firms in Australia is in new territory, with specialist and alternative lenders getting significant attention and traction with SMEs in particular. Partner at Standard Integrated Lending, Tony Caine, spoke to Katarina Taurian gives his assessment of the where the opportunities are for savvy firms, and where the market is likely to head in the years to come. He also talks through what it's like working with accountants who have distinctly different goals, deadlines and client bases to other professionals, and where he thinks the smart operators have got it right. www.accountantsdaily.com.au
The leadership crisis at CPA Australia has had a ripple effect in the Australian accounting industry, prompting professional associations to review their disclosure procedures and annual reporting. Chief executive of the Institute of Public Accountants (IPA), Andrew Conway, speaks to Accountants Daily editor Katarina Taurian about the changes he’s now making at the association. For the first time, Mr Conway shares his frank assessment of CPA’s evolution and descent, and what accounting leaders and professionals alike can learn now that the dust is - finally - beginning to settle. www.accountantsdaily.com.au
The government fired warning shots in the May federal budget about a tax office blitz on the top 1000 firms in Australia, and it has stuck to its word. In fact, according to Thomson Reuters managing director for Australia and New Zealand, Ben Scull, the ATO is set to speed up its surveillance. Speaking to Katarina Taurian, Ben explains which companies are in the firing line, and what they should be expecting from the regulator. In Ben’s words, there’s “quite a bit” of information that firms will need to produce to satisfy the ATO. Ben also talks about his vision for tax reform in Australia, and why some of the taxes that don’t get the broader public’s green light are often the ones most in need of a shake-up.
Listen in to this week's episode as Katarina Taurian gets past Practice Ignition chief executive Guy Pearson's incredibly laid back exterior to discuss the fast-paced, aggressive, and optimistic life he leads to fuel his ever-growing start-up. Guy talks about how moves in his early career as an accountant taught him the joys and frustrations small businesses face every day, and how he funnelled that into a vision that is taking him across Australia and into the European and North American markets. With a few cheeky stabs at his "stunt double" Trent McLaren thrown into the mix, Guy also talked through how he pushes through industry resistance, backlash and mudslinging to keep his eyes on the prize. www.accountantsdaily.com.au
Compared to other professional services, the job market for accountants in Australia has been solid in recent years. Hays regional director for accountancy and finance, David Cawley, speaks to Katarina Taurian about where the next bursts of activity will be, and which professionals will have the upper hand with their salary negotiations. He also talks through the blunders good candidates make, both when they are actively searching for a new role and while they hold employment. In some cases, the blurring of personal and professional lives have cost otherwise perfect candidates their ideal role. http://www.accountantsdaily.com.au
"Horrified expressions" are increasingly becoming a thing of the past with accountants when it comes to creating a competitive and modern marketing and pricing strategy. Mayflower Consulting's managing director Sarah Penn speaks to Accountants Daily editor Katarina Taurian about the green shoots she sees on a daily basis with accountants who are positioning their practices for growth and succession. She shares her insight to what successful accounting businesses, and Australian small businesses in general, are doing to make sure they are communicating with their client base effectively and charging them in a competitive and sustainable way. http://www.accountantsdaily.com.au
As members of parliament are fast coming to grips with, Australians can hold foreign citizenship without being aware of it. Your clients could have US citizenship without necessarily realising it, having never lived in or been born in the US. Partner at Moodys Gartner, Roy Berg, speaks to Accountants Daily editor Katarina Taurian about the dizzying level of detail you need to be aware of for your clients who are US citizens, or Australian citizens with ties or investments in the US. Mr Berg gives his five top areas to look out for when assessing your client’s situation, and accountants will be surprised at the “honest mistakes from honest people” that might be lingering in your client base. http://www.accountantsdaily.com.au
Technology and accounting industry heavyweight, David Smith, speaks to Accountants Daily editor Katarina Taurian about whether the opportunities of big data, cloud computing and lightning speed internet will match the realities of the accounting profession in the next 10 years. He also reveals the biggest mistakes firms are making when it comes to maintaining their practice’s cyber security, and how hiring a professional hacker revealed just how vulnerable even mid-market firms are to data being compromised. http://www.accountantsdaily.com.au
Accodex chief executive Chris Hooper speaks to Accountants Daily’s editor Katarina Taurian about how he plans to break the mould and transition his start-up into a multi-million dollar network. Chris also talks through life behind the scenes, including how he manages his personal schedule, his family life, and his energy as he pours everything into fuelling his brain child. http://www.accountantsdaily.com.au