Author Archive

The connected world in which we live and work provides us with incredible access and choice. Information is speared at us (sometimes simultaneously) from a variety of mediums, including the internet, mobile devices, intelligent appliances, motor vehicles and even the watches on our wrists. This incredible abundance of information, while empowering on one level, is also troublesome on another. We’re probably all familiar with the term “information overload” which refers…

Background Single Touch Payroll will streamline payroll reporting for employers. Employers with 20 or more employees will need to use Single Touch Payroll-enabled software to report to the ATO from 1 July 2018. It will align reporting obligations to existing payroll process – no matter how employee pay arrangements are structured. In August 2017, The Minister for Revenue and Financial Services announced changes to super fund reporting. Funds will report…

Due to the crushing nature of the Federal Government’s Budget deficit ($37 billion) and dwindling commodity prices, there has been much recent talk by both the Government and Opposition of reining in tax concessions – chiefly in the ‘big-ticket’ areas of Superannuation, Negative Gearing, and Capital Gains Tax. Although the Budget is not until May, and the Federal Election is not likely until the second half of the year, some significant changes…

Introduction The recent ABN Conference yielded some common perspectives on the future of the bookkeeping profession. Chief among them was that the entire profession is going through the biggest shake-up since the (then) government mandated small businesses to take-up accounting software for recording GST. The current ‘shake-up’ also comes in the form of software technology: cloud accounting. The effects of cloud accounting software on the bookkeeping profession To date, around…