ACCOUNTING

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Takeover

Countplus subsidiary acquires CDC Partners

Staff Writer 21 June 2022

CountPlus subsidiary, CountPlus One has acquired Sydney-based accounting business, CDC Partners.

Countplus announced the transaction to the Australian Securities Exchange (ASX) today noting that it involved a purchase of $600,000 plus an upside payment if revenues exceed certain targets with a maximum consideration of $800,000 having been agreed.

It said…

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Charges brought against directors of alleged mortgage scam

Yasmine Masi 20 June 2022

Two directors and one officer of mortgage lender, Remedy Housing, have been charged with criminal directors’ duties breaches after “dishonestly” offering ‘interest-free’ mortgages to consumers.

Directors Brent Smith and Mahmoud Khodr, and officer Fue Mano, appeared in the Melbourne Magistrates Court on Thursday after the investigation was referred to the…

Inflation barometer

Accountants want move to monthly inflation reporting

Mike Taylor 8 June 2022 No Comments

Major accounting group, CPA Australia is urging the Government to move to monthly inflation reporting as a more reliable gauge.

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ASIC cancels registrations for 10 SMSF auditors

Oksana Patron 30 May 2022 No Comments

ASIC has cancelled the registration of 10 auditors of SMSFs who failed to lodge their annual statements.

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Access takes Reckon Accountants Group

Mike Taylor 19 May 2022 No Comments

In what represents a key acquisition, Access Group has taken control of Reckon Accountants Group including APS and Reckon Elite.

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Victorian accountant jailed for tax fraud

Yasmine Masi 13 April 2022 No Comments

A Melbourne accountant has been sentenced to three years’ jail for tax fraud after he submitted false BAS forms for financial gain.

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Experience

Govt’s make belated promise on NALI super issue

Mike Taylor | 23 March 2022Just weeks out from the Federal Election the Government has promised to move on the ATO's problematic ruling on non-arm's length income in super funds
Regulatory scrutiny

ATO cracks down on trust distributions

Yasmine Masi | 18 March 2022The ATO has narrowed its views on family trust distribution situations where non-recipients will benefit or save tax in new draft rulings.
Businessman under a spotlight with three other lights off

500 tax practitioners investigated, 100 deregistered

Mike Taylor | 11 November 2021The Tax Practitioners Board has confirmed 100 tax practitioners were deregistered last year.
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No special ASIC treatment for accountants providing unlicensed advice

Mike Taylor | 1 November 2021ASIC will treat accountants providing unlicensed financial advice just like anyone else providing unlicensed advice.
Businessman crossing arms

FPA defends professional associations tax adviser registrations

Mike Taylor | 25 October 2021The FPA has mounted a strong defence of against the removal of professional associations registrations of tax advisers.
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Countplus acquires Accurium

Mike Taylor | 20 October 2021Countplus is expanding its reach into the SMSF and accounting arena via the acquisition of Accurium.
Industry consolidation

HUB24 transaction signals ongoing industry consolidation

Mike Taylor | 19 October 2021The HUB24 acquisition of Class Super is indicative of further industry consolidation.
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Financial advisers drowning in costly regulation, now super funds

Mike Taylor | 28 September 2021First it was financial advisers, now the Government wants to impose more costly regulation - this time on superannuation funds.