Accountants Daily Podcast Network

A global shortage of accounting professionals means Australia must lift its game on visa processing and offer greater certainty for those willing to relocate, says CPA Australia senior manager Gavan Ord. Speaking on this week's Accountants Daily podcast, Mr Ord said Australia had to rethink how it treats skilled migrants to outcompete a range of nations from Canada to the UK to Singapore. "You're asking people to move countries and then you're only providing them a temporary visa for two, three, four years of work. Why would someone leave their home country with their own support networks and come to Australia only to be told four years later, sorry, you're finished, go home?" Mr Ord said. "That's not how it works. People need certainty that they're going to move into permanent residency."

Lines between expenses related to business and personal use that became fuzzy during the pandemic need to be brought into sharp focus now, ATO Assistant Commissioner Andrew Watson said. Speaking on this week's Accountants Daily podcast, Mr Watson said it was one of three key messages for businesses this year. "It's been around for a while as an issue, but probably as we've all experienced over the last few years, some of the lines between work and home have blurred as we've gone into lockdowns and many business owners – they might have business premises – but have done more work out of home," he said. "Just make sure that apportionment is happening and you're not just claiming business expenses that include an element of private expense."

Australia is sleepwalking into an economic twilight zone with record debt and an acceptance that budget deficits are with us for the next decade, said Tony Greco of the IPA. Speaking on the latest Accountants Daily podcast, the general manager of technical policy said there was no appetite for budget repair and nothing in the larder for future downturns. "We normally try to get back to paying back some of that debt so we project budget surpluses," he said. "What's different this time round is no one's projecting budget surpluses to run down that debt – and that goes against history." He said alarms were already being raised with Treasury Secretary Steven Kennedy speaking out soon after the election. "[He] gave a pretty frank assessment of the challenges ahead, and he himself was saying that we need to repair and build up buffers for future economic downturns," he said.

The below-expectation June CPI figure of 6.1 per cent does nothing to defuse concerns over rising fuel, materials and labour prices hitting our most vulnerable industries, says the manager of SMEs, insolvency and public practice at CPA Australia, Kristen Beadle. Speaking on this week's Accountants Daily podcast, Ms Beadle said for many businesses the pandemic relief measures had just postponed the inevitable and today's unfavourable economic conditions meant there would be business casualties. "There's a lot of stress among our members. This isn't just food and construction – it's across the board. There's a lot of concern around long-term viability," she said.

Penalties for non-arm's length income – NALI – in superannuation need legislative change before the compliance honeymoon comes to an end next July, said the superannuation leader at CA ANZ, Tony Negline. The current law was a problem for all funds but especially SMSFs, said Mr Negline, because it disproportionally penalised innocent mistakes. Speaking on this week's Accountants Daily podcast, Mr Negline said the Coalition had left the problem in Labor's in-tray. "Hopefully the new government will make an announcement that they intend to amend the law to bring it back to a more reasonable setting," he said. "It has to be by legislation. It's the only way to solve it properly."

COVID put a rocket into technological adoption among accountants but too many practices are their own worst enemies when it comes to change, says the head of accounting at Intuit Quickbooks, Shaye Thyer. Speaking on this week's Accountants Daily podcast – Ms Thyer, a finalist in this year's Australian Accounting Awards – said that cloud computing was a lifesaver for the industry but decision-making in many larger firms was too cumbersome to benefit. "One of the biggest things that's standing in the way of real innovation in our industry is just this lack of decision agility across the mid-tier… get out of our own way, seriously!" Ms Thyer said.

Accountants are helping open the door to alternative sources of finance and investment as the trusted advisers to small business, say the heads of Assetline Capital and AltX. Speaking on this week's Accountants Daily podcast, the co-founder of mortgage-backed investment specialist AltX, Nick Raphaely, said accountants were critical because they operated at the "epicentre of their client's affairs". "Whether a client is seeking funds, and goes to their accountant to work out what the best solution is, or whether a client is long on funds and looking for a way to deploy them – either way, the client generally ends up having that discussion with the accountant," he said. AltX clients included SMSFs, individuals, companies and trusts, but they needed to be certified as wholesale investors. "Investors need to bring with them an accountant's certificate, confirming their income or the assets before they can invest with us," he said. "So we never get a new investor at AltX without an accountant by their side." The managing director of Assetline Capital, Paul Munt, said it was a similar picture when it came to non-bank lending. "Accountants are at the heart of these transactions, be it from providing the financials or supporting the income, or actually sitting down with us and having a chat with the client and our credit teams around how to find a solution for the client," he said. Over a decade in operation, Assetline Capital had lent $1.8 billion and specialised in tailored credit to companies outside the mainstream. "We've been able to do that through a broad range of products – so we cover construction and development, lending, bridging and short-term finance. And also we've just introduced a long-term 30-year debt product," he said. "The difference for us has been the ability to get to know the businesses – really understand them in greater detail – and then be quick and agile to meet their needs. So that's really our point of difference." "We have a number of sources of capital and we work with AltX on being one of those." "We want to raise the profile of the non-banks and make sure that people understand that there are options out there. "We like to build relationships and the key people involved in any transactions are the ultimate lender themselves, the accountant and/or the broker partners." "So we deal with accountants every day."

In this week's Accountants Daily podcast, ATO Assistant Commissioner Tim Loh talks tax agents through the fine print on pandemic deductions, work-from-home claims, rentals, crypto and granny flats. When it comes to COVID tests, the rules have changed to make them claimable for the first time. "Taxpayers who've paid for a COVID 19 test for work-related purposes – such as, for example, working out whether you can attend or remain at work – can actually claim a deduction for the COVID-19 test. So that could be a PCR test or RAT (rapid antigen test)," Mr Loh says. "There are a few conditions that you need to satisfy. You must have spent the money and not be reimbursed by the employer. The client must have used it for work-related purposes, so if the client bought the rapid antigen test to work out if they can go on a holiday to Byron Bay with their mates, that's not going to be a deductible expense. "And finally, you need a record for it. So receipts are best, and also digital invoices would be a really good record to have to support your claim." "A question that always comes up in relation to your children is when they have to use a test to work out whether they can go [to] childcare or school. That's not deductible, because it's not directly related to your income."

In this week's Accountants Daily podcast, ATO acting assistant commissioner Chris Ryan rejects claims the draft ruling on section 100A reflects overreach or heavy-handedness. "Although many in the community are suggesting that our view of the law and our compliance approach is a matter of overreach, we don't believe that's the case. We've come to our position having carefully considered our view of the law, which is consistent with the limited judicial guidance available out there, as well as how we've applied the law in a number of compliance cases over several years," Mr Ryan says. "What we do know is that many trusts won't be affected particularly where the beneficiary knows they're presently entitled, and they receive or enjoy the benefit of their entitlement. "While the ATO and practitioners also may not agree on how 100A applies, that of itself does not mean that our view of the law is overreach. Where there's a disagreement as to the operation of law, that should be and can be resolved in a respectful manner. "I also respectfully challenge the assertion that the ATO's approach has been heavy-handed. Our approach has been quite the opposite. We've reiterated today and previously, that we will stand by the 2014 guidance for distributions made up 30 June 2022."

In this week's Accountants Daily podcast Scott Treatt and Robyn Jacobson of the Tax Institute outline some of the challenges facing the new government. Although there are doubts over the final make-up of the 76-member Senate it is already clear the government will need support from the Greens or independents, Scott Treatt, who is head of tax policy and advocacy at TI. The Greens supported Labor's policy for a tax crackdown on multinationals but went further with a proposal for a 40 per cent levy on super profits of large corporations and a "tycoon tax" on billionaires. "The policies of the Greens, the policies of some of these other minor parties remain relevant in the discussions in the backroom. They're the discussions which help secure a passage of different bills," Mr Treatt says. Another potential headache looms in the shape of fuel excise, says Tax Institute senior advocate Robyn Jacobson, and this arises just before Labor's October budget. "After the 28 September, the temporary reduction in the fuel excise is going to jump up by 22.1c," she says. "This is going to be a very visible form of price increase as we all drive around the suburbs." And both Mr Treatt and Ms Jacobson echoed calls from across the tax profession for clarity on a range of unresolved issues since the March budget, from the tax incentive for training and digital spending, to patent box changes, to fixing the non-arm's length income rules for super.

Today on the Accountants Daily podcast Elinor Kasapidis of CPA Australia says parliament may need to get involved to clear up the high levels of uncertainty surrounding the ATO's draft ruling on section 100A, released in February. "Our submission as well as others have raised the prospect of changing legislation around 100A to introduce a time limit to better define some of the concepts, and just to make it clearer to everybody exactly what it should be used for," she says. Ms Kasapidis says many CPA Australia members believe the ATO has stepped beyond its powers and the ruling goes too far. "There are a large number of people who think the ATO has taken a very sort of strict interpretation that really targets everybody - all businesses, all trusts -when they're thinking it should be far more confined." So you've got this general application, lots of technicalities to try and catch everybody. And then people are saying, 'But that's not what this is for'. "That's the discussion that needs to be had. CPA Australia, along with the other professional associations, are speaking with the ATO. "Regardless of where they land, if this is the way the ATO is going to do things there's a bit more work to do in that space, I think, so that people know where they sit."

Today on the Accountants Daily podcast, Matthew Addison of the Council of Small Business Organisations of Australia says the double whammy of high inflation and an acute skills shortage will hit small businesses hard. "I'm not sure that Australia, considering a CPI of sevens, eights or somewhere north of that, is one that small business could actually face or endure," says Mr Addison, who is executive director of the Institute of Certified Bookkeepers as well as chair of COSBOA. He said rising inflation would also throw the skills shortage into sharp focus, with labour costs already on the rise. "There is a labour shortage, and that's going to push wages up," he says. "Wages are going up by the Superannuation Guarantee increase in June anyway, and there are minimum wage discussions going on at the moment."

Today on the Accountants Daily podcast, Scott Treatt of the Tax Institute says the ATO's debt book is ballooning and funding to address the problem needs to put on a proper footing. An additional $650 million in the recent budget for the Tax Avoidance Taskforce highlights how effective it has been, he says, but creates issues of its own. "If I look at it from a policy perspective, it is temporary and provides an administration challenge," says Scott. "That leads to them having contractors as opposed to full-time staff that can be brought in and trained up and given the skill-set to really have an enduring life at the ATO. Scott also discusses other issues that urgently need attention, such as the disincentives for a second parent to take on full-time work due to the costs of childcare.

Budget incentives for small businesses to spend on technology and training need to be legislated by the next government so that the scheme can get properly underway. On this special Accountants Daily podcast, Tony Greco, general manager of technical policy at the IPA, says the 120 per cent deductions for investments in skills and digital uptake have stalled on the starting line due to insufficient details. Tony also talks about another pressure point from the budget for accountants at the end of the low to middle income tax offset – or LMITO – which will look like a tax increase to many clients. Now's the time to temper expectations, says Tony.

In the wake of Russian-linked cyber attacks on Ukraine, Prime Minister Scott Morrison and the Australian Cyber Security Centre (ACSC) have issued a warning to Australian organisations that malicious activity may have local ramifications.In this special episode, hear from Major General (Ret'd) Marcus Thompson, former head of the Department of Defence's Information Warfare Division, as he and host Phil Tarrant discuss Russia's history of cyber war and how this vector will continue to shape peace and conflict in the future.The pair dissect the impact of cyber warfare on Australian businesses, offering much food for thought for Australian accountants who hold valuable client data in their books.MAJGEN (Ret'd) Thompson also reveals how many malicious actors work in concert with state-sponsored groups to exploit the cyber domain and why businesses need to be putting their best foot forward to combat virtual attacks.

In this exclusive interview with shadow financial services minister and shadow assistant treasurer, Stephen Jones MP, join Momentum Media's editor of mortgages Annie Kane as she speaks to the member for Whitlam about the valuable role that financial advisers and brokers play in supporting Australian borrowers and what the Australian Labor Party would offer the financial services, credit and superannuation space should it win the federal election. Tune in to find out: Why he thinks the FASEA education changes have been a debacle The reason he changed from going direct to using a mortgage broker What he thinks financial and credit advisers need to be focusing on moving forward And much more!

With WFH becoming increasingly mainstream, many are wondering whether a return to the office full-time will be a thing of the past. On this special episode, Fionn Bowd, chief executive of Bowd Legal, takes listeners through why she thinks Australia is entering a "golden age" for offices. Ms Bowd unpacks the avenues that employers can explore in enticing staff into spaces that are tailored to personal and professional needs. She also fleshes out how creating such an environment can lead to a better work community, collegiality and, ultimately, productivity.

Following the introduction of the SuperStream measures on 1 October 2021, release authorities and rollovers to and from SMSFs are now required to comply with new data and payment standards. On this special episode, hear from Matt Crofts, head of the Simple Fund 360 product at BGL on the opportunities practitioners have to help clients manage the knock-on effect. Also hear from Matt on what challenges these changes could bring to the sector, and how practitioners can properly prepare themselves heading into the new year.

As Australia's borders continue to reopen, so do a number of tax implications. In this episode of Accountants Daily Insider, Daniel Sparks, partner at Pitcher Partners Sydney joins host Emma Ryan to discuss what Australians need to be wary of when returning home from overseas. Daniel provides a comprehensive checklist of factors they should consider prior to making the move, and gives an overview of common tax traps many Australians overseas find themselves in. He also shares how he thinks practitioners are placed to help people navigate the implications, and what the 2022 calendar year will hold for employees and employers alike.

SMSF auditors and accountants have been hit by the "perfect storm" with changes in ATO requirements, new legislation, fee pressures etc, driving significant sector change. In this special episode of the Accountants Daily Insider, Aquila Super partner and SMSF expert for litigious matters, Chris Levy unpacks some of the main developments and what they mean for the industry, both now and in the future. As one of Australia's largest and most experienced SMSF specialists, Aquila Super has become the preferred outsourced SMSF provider for hundreds of accounting practices nationwide. Here, Chris provides a comprehensive, on-the-ground look at how changes to SMSF audit independence and the steady increase in litigation risk will impact the industry moving forward. He also provides insight on the ATO's increased presence as a regulator for SMSFs, the impact of COVID-19, and the general pressures currently placed on the SMSF and accounting sectors.

The Australian Tax Office has confirmed it has extended the work-from-home shortcut method. But what else is on the horizon? In this episode of Accountants Daily Insider, Michael Croker, tax leader at Chartered Accountants Australia and New Zealand joins host Emma Ryan to dissect recent moves made by the ATO and how these changes will reshape conversations with clients moving forward. Michael gives an overview of what to expect as the profession continues to evolve over the next 12 months and what he thinks will be the biggest challenges employers will need to navigate as their staff return to office. He also discusses the ATO's plans to "modernise" the 52¢ per hour fixed-rate method and what he hopes will come from it.

For those in tax law, the modern market is providing ample opportunity to better support Australian businesses and see them flourish. In this episode of Accountants Daily Insider, hear from ABA Legal Group director Andrew Antonopoulos and associate director Toni Eisenhut on their perspective surrounding the top tax matters they're seeing come to light. The lawyers dissect looming legislation and recent regulatory updates, and unpack the opportunities emerging in tax law both now and in the future.

The ATO's frosty relationship with the tax profession has been well documented in recent years, but change is underway as the Tax Office commits to support and engage more closely with practitioners. ATO assistant commissioner Sylvia Gallagher joins Accountants Daily editor Jotham Lian in a frank discussion about recent friction between the ATO and the tax profession and how it was never meant to be an "us versus them" situation. Sylvia also explores the variety of ATO support available to practitioners suffering from increased workloads brought on by the pandemic, and explains how her team will strive to find a solution for struggling practitioners as long as they reach out for help. She also touches on some upcoming items on the ATO's agenda, including Single Touch Payroll Phase 2, and the new director identification number regime.

The start date for Single Touch Payroll Phase 2 is fast approaching, but with everything going on around us at the moment, the ATO has decided to provide a short blanket deferral for all employers. In this episode of Accountants Daily Insider, we partner with Intuit QuickBooks to hear from Lielette Calleja, who sits on the ATO' STP Phase 2 advisory board, to hear about this latest concession and what it means for practitioners and their clients. Lielette, the chief accounting technician at the Association of Accounting Technicians and a director and founder of her firm All That Counts, also explains what the expanded reporting requirements of STP Phase 2 will look like, and why the government is asking for this data. She also shares some key points to help advisers prepare themselves and their clients for the change ahead.

With litigation involving death benefits in SMSFs on the rise, the time is ripe to evaluate your plans and ensure that chances of a dispute occurring down the track are minimised. In this week's episode of the SMSF Adviser Show, Cooper Grace Ward partner Clinton Jackson gives hosts Aaron Dunn and Jotham Lian a preview of his upcoming session on succession planning and estate disputes at the SMSF Adviser Technical Strategy Day. Clinton discusses growing dispute trends, safeguards to avoid estate disputes, and what he thinks of 6-member SMSFs and the opportunities and issues it brings to the table.

Welcome the first edition of the Cyber Security Uncut podcast with our hosts Major General (Ret'd) Marcus Thompson, former head of the Department of Defence's Information Warfare Division, and Phil Tarrant, director — defence and security at Momentum Media. The Cyber Security Uncut podcast is a fortnightly podcast unpacking Australia's innovative and vibrant cyber security sector, from the latest business trends facing the industry through to breaking global news. The pair begin by analysing the emerging trends within cyber warfare and the growing use of information operations as an exploitable domain. They also examine how cyber security is an ever growing financial risk to Australian companies, discussing the importance of cyber security protocols within businesses. The podcast wraps up by analysing the importance of a sovereign cyber security industry in Australia to service the nation's growing cyber security needs. Enjoy the podcast, The Cyber Security Connect Team

This year's R U OK? Day serves as an important reminder to open up the conversation on mental health, both in the workplace and at home, according to David Coleman, member for Banks and Assistant Minister to the Prime Minister for Mental Health and Suicide Prevention. In this special episode, join Momentum Media director Alex Whitlock as he speaks to Mr Coleman. Together, the pair discuss the importance of shining a spotlight on mental health issues, share why the consequences of stigmatising mental health are significant, and reveal how you can make a difference to your workplace, community, family and friends.

Treasurer Josh Frydenberg this week announced a reduction in ASIC levies for financial advisers, taking fees back to 2018-19 levels. But how did we get to this stage where levies have been constantly rising year-on-year? In this episode of Accountants Daily Insider, the Institute of Public Accountants group executive of advocacy and policy, Vicki Stylianou, joins host Jotham Lian to provide context around ASIC's industry funding model and what it was meant to achieve. Vicki explores how fees have risen dramatically over the years for financial advisers, registered liquidators, and auditors, and delivers a compelling argument on why the government should initiate a blanket freeze for all practitioners. She also discusses the upcoming review of ASIC's industry funding model and what she hopes will come from it.

Tax & Super Australia tax counsel John Jeffreys joins host Jotham Lian in this episode of Accountants Daily Insider to take a closer look at why accountants are doing it tougher this year. With state and territory governments rolling out new business support measures each time a lockdown is announced, John explores how accountants can be better supported as they are constantly relied on to help their clients during this difficult time. John also looks at how the ATO can play a bigger role in supporting the profession, and why the 85 per cent lodgement benchmark needs to be re-looked at as stress levels rise.

The ATO's position on non-arm's length expenditure incurred under a non-arm's length arrangement has now been finalised, but its interpretation has drawn concerns from all corners of the industry. On this episode of Accountants Daily Insider, DBA Lawyers director Daniel Butler joins host Jotham Lian and Aaron Dunn to take a closer look at the ATO's recently released LCR 2021/2. Daniel considers the expectation gap between the ATO and the industry, key concerns that have arisen, and what the future might look.

Accountants and bookkeepers were an invaluable resource for business clients amid the COVID-19 crisis last year, and the profession has again been called to the frontlines as the country continues to battle through lockdown restrictions. In this episode of Accountants Daily Insider, Intuit QuickBooks head of advisor strategy Meagan Wood and Oyster Hub co-founder Adarsh Dutt take a closer look at a new report which attempts to quantify the value of advice that the profession has provided over the last year. The pair explore how accountants have been crucial in delivering not just financial benefits for clients, but also non-financial benefits such as emotional support. Adarsh compares this year's Greater Sydney lockdown to last year's and the differences in business support measures on offer. He also explains how practitioners can ride the wave of trust and appreciation from their clients to position themselves as the advisers of choice.

Tyler Wise, founder and director of Wise Accounting, was first exposed to the brutality of cyber attacks when his firm experienced a malicious phishing attack. He now uses that experience to help other accountants better protect themselves, their firm, and their clients. In this episode of Accountants Daily Insider, Tyler previews his upcoming session at CPA Australia's Public Practice Virtual Conference by looking at why accountants are more exposed than ever to cyber-security risks in a remote working environment, and the financial and reputational consequences that come with breaches. Tyler also looks to dispel the myth around cyber-security costs that could be holding practices back from taking action, and gives his top tips on how practices can protect themselves today. Find out more about Tyler's in-depth session, other industry changes and technical updates at CPA Australia's Public Practice Virtual Conference on 19 August.

The new financial year has just begun, but the road ahead is already looking busy for the SMSF industry. In this episode of the SMSF Adviser Show, hosts Aaron Dunn and Jotham Lian are joined by SMSF Association deputy CEO Peter Burgess as they take a closer look at the next 12 months in the industry. Peter talks about key agenda items for the SMSF Association, including federal budget measures that will see close consultation with the Treasury, as well as key issues that advisers should keep an eye out for in the immediate future. Peter also previews an upcoming project with the University of Adelaide on the investment performance of the sector, and a new project to help make it easier for people to get out of an SMSF when it is no longer suitable for them.

Australian Accounting Awards 2021 Thought Leader of the Year Rebecca Mihalic has had her fair share of challenges as a female in the profession. But she hasn't let that slow her down and has instead harnessed her experience to shine a spotlight on a range of gender-equality issues to help pave a better way for the next generation. The businessDEPOT director, founding partner of Aptus Accounting & Advisory, and head of accounting at Practice Ignition also shares her passion for raising awareness on mental health issues, and her focus on cash flow protection for accountants and their firms. Rebecca also gives host Jotham Lian some of her predictions for the financial year ahead as Australia continues to battle through COVID-19 lockdowns.

The ATO's debt book has swollen to $34 billion, with COVID-19 exacerbating an issue that has been growing over the years. But who is contributing to this growth, and is the ATO being used as an unofficial bank? In this episode of Accountants Daily Insider, the Inspector-General of Taxation, Karen Payne, joins host Jotham Lian to discuss her agency's latest report on undisputed tax debts in Australia. Karen reveals which industry accounts for the highest levels of debt, the breakdown of taxpayer groups responsible for the growing debt, and how a majority of collectable debts are owed by just a minority. Follow along with the conversation by accessing the IGTO's summary slides. You can also access the full final report here.

Straight out of winning the Accountants Daily Excellence Award at the Australian Accounting Awards 2021, Aly Garrett joins host Jotham Lian to relive a night which saw over 400 practitioners coming together to celebrate a momentous year for the profession. Aly, founder of All In Advisory, shares the secrets to her success, and why she thinks the accounting profession is so much better off because of the community spirit it fosters rather than a competitive one. The Partner of the Year (Boutique Firm) also explains why communication is such a vital leadership tool and shares what every budding accountant should do to position themselves for success.

With 30 June fast approaching, we take a closer look at recent developments that could come into play in the new financial year and what they mean for SMSFs. Host Aaron Dunn discusses the Treasury's long-awaited exposure draft documents on ECPI measures, as well as two bills set to be debated in the Senate this week — the six-member SMSF bill and the bring-forward rule bill for 65 and 66-year-olds. Aaron also gives his top tips for SMSFs ahead of the end of the financial year.

Dry tax training sessions that go on for hours on end tend to be a feature of the profession, but does it always have to be this way? Joyce Ong, founder of Tax Nuggets Academy, joins host Jotham Lian in this episode of Accountants Daily Insider to explain why she left a lucrative career in the profession to change the way we approach tax training. Named as one of the top 20 future leaders to watch by Chartered Accountants Australia and New Zealand, Joyce explains how she combines her creative flair with her technical expertise to create short and engaging videos — or "lollipops for your brain with hidden veggies", as she terms it. Joyce also gives her honest and unbridled take on the current tax training landscape and shares what it's like to step out as a business owner for the first time.

In this week's special budget round-up, hosts Aaron Dunn and Jotham Lian take a closer look at all the measures affecting superannuation and SMSFs that are set to kick in from 1 July 2022. The pair discuss the abolition of the work test for personal contributions, changes to legacy income streams, the relaxation of SMSF residency rules, new super measures addressing housing affordability, and the scrapping of the $450 superannuation threshold. Aaron explains how these measures will affect SMSF practitioners and their clients, and also shares what he had hoped to see in the budget this year.

It's a big spending budget with an even bigger net debt approaching $1 trillion. But what does it all mean for the profession, and how will it impact your clients? The Institute of Public Accountants' general manager of technical policy, Tony Greco, joins host Jotham Lian in this week's episode of Accountants Daily Insider to unpack all the big-ticket measures from this year's budget that will have an impact on practitioners and their clients. Tony shares his initial reaction to the budget, tackling everything from tax cuts to superannuation, while taking a closer look at some glaring omissions that continue to haunt the profession.

Kristine Woods has spent over 33 years fighting seven chronic autoimmune diseases, had to deal with blindness in her right eye, and now has a permanent port implanted in her chest after her veins failed in 2017. Despite these challenges, she has refused to let them limit her, and has now gone on to set up her own successful bookkeeping firm, The Accounts Ladies. In this episode of Accountants Daily Insider, Kristine tells host Jotham Lian how she balances her life as a mother, a business owner and a BAS agent, all while having to deal with different treatments and setbacks. Kristine shares her advice on how to deal with adversity, and how she is determined to continue achieving new goals and giving back to the community.

It's been over a year since we first entered lockdown, yet accountants are still reeling from the additional workload heaped upon the profession. In this episode of Accountants Daily Insider, businessDEPOT founder and managing director John Knight joins host Jotham Lian to look at the ongoing issues facing the profession, including staff burnout, talent shortage and impending deadlines. John also shares some tips to improve firm culture after a year of working from home and his advice to fellow practitioners as they head into the busy tax season.

In this week's episode of Accountants Daily Insider, Class senior analyst Angelique Faes takes a closer look at trust administration and why it's ripe for disruption. Angelique talks about the popularity of trusts, common pain points in trust administration, and how Class is looking to change things. She also covers some recent acquisitions at the company and what it means for the future of Class.

Chartered Accountants Australia and New Zealand superannuation leader Tony Negline takes a closer look at the ATO's recent announcement on non-arm's length income and what it means for practitioners and trustees. Tony tells hosts Aaron Dunn and Jotham Lian how the ATO's draft law companion ruling means that if an SMSF's affairs are not structured correctly, then, even for a minor expenditure, all the income of the super fund — ordinary and statutory income — could face income tax at the highest marginal tax rate. He also shares his concerns with the legislation underpinning NALI and what he is ideally hoping for ahead of the ATO's finalised law companion ruling.

Former ATO assistant commissioner Colin Walker joins us in this episode of Accountants Daily Insider to provide a closer look at the inner workings of the Tax Office and how its "us versus them" approach has changed over the years. Colin tells host Jotham Lian how he's transitioned from 45 years in the public service into a new role at the Institute of Certified Bookkeepers and what he intends to achieve in his new position. He also explores what the future of the profession will look like, talks about what he thinks of the accountant and bookkeeper relationship, and shares some advice for up-and-coming talents joining the profession today.

In this special episode of Accountants Daily Insider, three industry heavyweights come together to discuss the current economic environment and explore how accountants will play a vital role in Australia's recovery. Institute of Public Accountants CEO Andrew Conway, Reckon Group CEO Sam Allert and Prospa co-founder Beau Bertoli all come together to share their perspectives on the end of JobKeeper, the high level of trust that businesses have in their accountants, and how accountants will continue to be relied on heavily over the next year. The trio also look at how the pandemic has changed the way we look at digital readiness and speak about some of the biggest opportunities for accountants in 2021.

The rollout of Single Touch Payroll seems like just yesterday, but we now have the second phase lurking on the horizon. In this episode of Accountants Daily Insider, host Jotham Lian is joined by the Institute of Certified Bookkeepers executive director, Matthew Addison, to explore everything related to STP Phase 2 to help prepare practitioners and their clients for the 1 January 2022 deadline. Matthew goes over why the change is happening, what advisers need to be doing now and key dates to remember. He also discusses the upcoming end of STP concessions for micro-employers and closely held payees, and explores the government's mandate for e-invoicing.

On this week's episode of Accountants Daily Insider, we take a closer look at the Institute of Public Accountants and the Association of Accounting Technicians and their plans for members this year. Host Maja Garaca Djurdjevic is joined by IPA chief executive Andrew Conway and All That Counts founder and director Lielette Calleja, who has recently joined the AAT as its chief accounting technician. Andrew and Lielette talk about the packed agenda that both the IPA and AAT have ahead for their members this year. They also discuss their thoughts on the variety of lockdown approaches by the state and territory governments through the COVID-19 pandemic, what might be on the cards for the 2021-22 federal budget, as well as when the IPA will resume running in-person events.

While many in the profession are looking at 2021 as a year of consolidation, others, like Andrew Van De Beek, are jumping straight in and seizing opportunities as they come. In this episode of Accountants Daily Insider, host Jotham Lian is joined by Illumin8 founder Andrew Van De Beek to explore why and how he has grown his firm from a team of 10 to 17 in just a few short months. Andrew also discusses his firm's recent acquisition of a warehouse, and a new partnership with e-commerce co-working and warehousing provider CLIK Collective. The pair also explore what constitutes a great team culture and what practice owners can do to make sure they are keeping their staff motivated and involved with the firm's vision.

A turbulent year has seen the profession grow closer than ever, with accountants and bookkeepers tipped to continue to tap on collaborative opportunities over the next 12 months. All That Counts founder and director Lielette Calleja joins host Jotham Lian in this episode of Accountants Daily Insider to talk about why the profession should continue to build on professional relationships developed through the pandemic and lean on their networks. Lielette also chats about her recent appointment as Chief Accounting Technician at the Association of Accounting Technicians, and what she thinks practitioners will need to upskill on over the coming year.