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PROFESSION

By Malavika Santhebennur

R&D tax incentive time limit does not reflect realities

Restricting access to the refundable offset to the first 10 years of an entity carrying on an enterprise does not account for the time some companies take to reach profitability, one industry body has argued.

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Large companies ‘lacking’ in modern slavery disclosure statements

PROFESSION • Carlos Tse

New research has found that some of Australia’s largest companies only addressed less than 40 per cent of a modern slavery disclosure framework based on international standards.

Grant Thornton Australia confirms EA job cuts, offshoring

PROFESSION • Carlos Tse

The mid-tier firm has confirmed that it will make a “small number” of executive assistant layoffs, while establishing a partnership with a Philippine labour vendor to potentially offshore some of these roles.

BDO Australia trims clients and markets team

PROFESSION • Malavika Santhebennur

The mid-tier accounting firm has confirmed that it made a handful of redundancies in May in its clients and markets team but stressed that the roles did not move offshore.

Winding-up orders justified after liquidator proves companies were a pooled group

PROFESSION • Carlos Tse

Three entities have lost their bid against their liquidator after the latter proved they were too intertwined to not be considered a pooled group for the purposes of winding up.

PwC Australia’s EAs to spend over half the working week in-office

PROFESSION • Carlos Tse

Executive assistants in the Australian firm are being expected to spend three-fifths of their working week in the office, as PwC Australia says it will be good for collaboration and connection.

KPMG to beef up penalties for serious misconduct

PROFESSION • Malavika Santhebennur

In an update on its action plan first released in June, the beleaguered accounting firm has committed to bolstering financial consequences for serious misconduct.

NTAA calls for greater clarity on WRE draft ruling

PROFESSION • Carlos Tse

The accounting body has asked the ATO to provide greater detail in its draft ruling on its work-related expenses standard deduction, which is projected to impact nearly half of all taxpayers.

Why directors must buy a ‘runway’ when faced with DPNs

PROFESSION • Carlos Tse

One lawyer says that directors must act promptly when faced with director penalty notices, dispelling the common misconception that if a director lodges after receiving this notice, they will crystallise their liability.

Tags: News, ato, director, 600, dpn, 779

Widespread fear of retaliation for speaking up at KPMG

PROFESSION • Malavika Santhebennur

A damning new report has revealed widespread perception among the accounting firm’s employees that challenging leadership and raising concerns could carry severe but subtle costs.

CPA Australia welcomes new members to its latest board

PROFESSION • Carlos Tse

The accounting body has welcomed a new president in an announcement unveiling its latest 10-member board.