News and Media

ATO cracking down on taxable fringe benefits

7th June 2017

The ATO is scrutinising organisations’ taxable fringe benefits, with a specific focus on customer loyalty programs, ride-sharing services and utility vehicles, according to a mid-tier. RSM Australia is urging accountants to work with their clients to review their policies ahead of possible investigation by the ATO on the provision of taxable fringe benefits to employees. One key area of focus is on employees’ use of business or personal credit cards linked to customer loyalty programs, as well as substantial personal frequent flyer points obtained through business travel.

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Join the complimentary webinar: The increasing risk of cyber crime to accounting professionals

18th May 2017 

Do you know how easy is it for a criminal to penetrate your network and access your files and clients’ data? Just last weekend we saw a worldwide cyber attack which, to date, has affected more than 200,000 computers in over 150 countries, including in Australia.

Based on statistics, it is highly probable that you are not fully equipped or informed regarding the threat of cyber crime. A wave of cyber crime is targeting Australian businesses, and in particular accountants, and there are no signs of it slowing down.

Register for this complimentary one-hour webinar on Thursday 1st June 2017, commencing at 12:30pm EST, to understand the current state of cyber crime in Australia, learn about the most common threats and find out what you can do to decrease the risk in your firm.

Drawing from real case studies and credible statistics, Associate Director of Professional Risks at Accountancy Insurance – Karen McDonald – will impart her knowledge and expertise in the field of cyber crime. IT specialists, Zynet, will also provide a simulation hack in this webinar to demonstrate just how easy it is for cyber criminals to gain access to your systems. 


ATO to crack down on businesses misusing R&D tax breaks

14th February 2017

The Australian Tax Office has warned business operators and advisers that it is ramping up its efforts to target the misuse of research and development tax incentives, and it will pursue those deliberately exploiting the tax breaks in court.

The ATO says it is particularly concerned about businesses in the building and construction industry, where it says an increasing number of operators are attempting to claim excluded expenditure as R&D expenses.

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3,000 accountants still undecided on licensing

3rd January 2017

An estimated 20 to 30 per cent of all accountants are still undecided on what they should do in relation to licensing, with one licensing provider still speaking to thousands of accountants.

Speaking to SMSF Adviser, Merit Wealth accountants services director David Moss said he is still speaking to around 3,000 accountants who are undecided on whether they will become an authorised representative under limited licence, or continue to remain unlicensed.

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Chartered Accountants  CPA Australia 

Tax Institure