Labor MPs continue to defend the proposed cap on the deductibility of accountants’ fees, as accountants, software vendors and associations alike pick up the pace with their lobbying.
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As previously advised, the Australian Electoral Commission found a last minute minor hurdle with our registration application late on the Friday evening before PM Morrison called the election, so we were left high and dry.
As I reflect on this election campaign, the discussions on both sides of politics, the public and private debates, the proposed changes and policies, one underlying reality has dawned on me as a major concern.
To add to stupidity after stupidity #billthedill told accountants yesterday accounting fees are a “subsidy”. That’s right, they are no longer legitimate business expenses but a “subsidy”.
Bill Shorten has made a pitch to small business, helping them to employ younger and older workers but he has also cheesed off their trusted accountants. What is he smoking?
Small businesses remain confused about the impact of Labor’s policy on family trusts as the election looms.
Danny D’Astolto, Partner at Vantage – Tax & Business Services in Kew provided this letter to his clients to educate them on the proposed changes in relation to Trusts. Very well articulated and simple to understand. Feel free to share if you deem it to be appropriate.
Stage two of the ATO’s operational framework is here with more accounting apps being mandated with Two Factor Authentication. This means imminent changes to the way accountants and their teams manage and control access to an ever increasing suite of cloud apps.
This article will help you understand what’s coming from an operational perspective and how to prevent these changes from impacting on your firm’s productivity.
So with just 2 1/2 weeks to go, NOW is the time to act. NOW is the time for YOU to make a difference. NOW is the time for you to talk to your clients about the tax policies proposed by Bill Shorten’s Labor.
MYOB has confirmed that clients affected by its system outages will be granted an exemption by the ATO, with one software boss claiming that MYOB is not the only provider with issues.
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