News : Accounting

Accounting

Franking credit policy had silver lining

franking credit diversification

A positive development for SMSFs did result from Labor’s proposed change to franking credit refunds raising questions around the need for investment diversification.

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Accounting, ASIC

Former accountant jailed for fraud

A former accountant who recommended the use of an SMSF with some clients has been jailed after he defrauded investors of $815,000.

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Accounting, Financial Planning

Accountants, planners team up to expand SMSF offering

Accountants teaming with planners to expand SMSF offering

The number of accountants working with financial planners to boost their SMSF value proposition has climbed as trustees focus on advice expertise.

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Accounting, Tax

Numbers for cap on tax advice based on wrong data set

tax advice

Calls to cap deductions for costs related to tax advice have been based on inaccurate and limited data.

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Accounting

Countplus acquires big stake in accounting firm

Countplus has made its second acquisition this year, taking a stake in the accounting and financial advice business of a Melbourne-based firm.

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Accounting

Double reporting a growing issue in TBAR regime

Issues such as double reporting have surfaced in the initial stages of the TBAR regime, according to a legal firm specialising in SMSF advice.

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Accounting, Superannuation, Tax

CAANZ welcomes commitment to no new super taxes

A leading accounting body has welcomed the commitment by both major political parties to not add new super taxes, but has asked for more policy details.

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Accounting, Tax

Accountants slam Shorten over deduction ‘rort’ remark

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Two accounting bodies have hit back at Bill Shorten for labelling deductions for managing tax affairs as a ‘rort’ and promising to limit them to $3000.

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Accounting

SMSF Party falls short of registration deadline

Grant Abbott headshot

The SMSF Party has fallen short in its attempt to become a registered party before the 18 May federal election, after it failed to demonstrate it had sufficient voting members.

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Accounting

NALI, LRBA changes unlikely to pass before poll

A bill to make changes to the rules around calculations for NALI and the value of assets in an SMSF with an LRBA are likely to lapse after stalling in the Senate.

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