Accountants Daily Podcast Network

It's been a turbulent year for the accounting profession and it has been no different in the accounting M&A space. But the phones are back ringing and deals are being actively discussed. Magnus Yoshikawa, director at Jadeja Partners, joins host Jotham Lian in this week's episode to take a look at the accounting M&A market over the past 12 months. Magnus looks at how COVID-19 has shifted trends in the market over the past few months, examines whether we're in a buyer's or seller's market, and gives his best tips to practice owners looking to enter the market.

With ASIC exploring how access to affordable advice can be improved, including scaled or limited advice, BT head of financial literacy and advocacy Bryan Ashenden discusses what Consultation Paper 332 means for the future of advice. Bryan talks to hosts Aaron Dunn and Miranda Brownlee about some of the challenges and barriers impeding the provision of limited advice, particularly in the SMSF context. He also explores what a new model of advice regulation could look like and what ASIC's role will be in regulating the industry following the wind-up of FASEA.

Tax Practitioners Board member Debra Anderson joins host Jotham Lian in this first episode for 2021 to take a closer look at the year that's been and what's in store for the next 12 months. Debra speaks candidly about the toll of a whirlwind 2020, how she's been stretched ethically and morally in dealing with her clients, and why she thinks accounting practitioners will continue to be kept busy throughout the new year. She also touches on some key changes that have been proposed by the independent review of the TPB and how they might affect practitioners in the coming months.

2020 will certainly go down in the history books as one of the toughest years faced by the accounting profession. But now that the year is up, what will 2021 hold for practitioners? In this final episode of Accountants Daily Insider for 2020, host Jotham Lian is joined by The Tax Institute's senior advocate, Robyn Jacobson, to take stock of the incredible year that has passed, and to shine a light on what's to come in the new year. Robyn reviews the wide range of tax measures introduced this year, and explores a number of outstanding issues that the profession will have to contend with over the next 12 months. She also looks at the implications of a number of completed and ongoing reviews, and explains why the profession will need to embrace tax reform in the coming year.

The SMSF Association and Rice Warner have now released comprehensive research investigating the operating costs of SMSFs and how they compare with APRA-regulated funds. SMSF Association deputy chief executive Peter Burgess explains to hosts Aaron Dunn and Miranda Brownlee what some of the key findings of the research are and what they mean for the provision of advice on SMSFs and superannuation in general. Aaron and Miranda also discuss some of the key developments this month, including ASIC's consultation on the impediments facing advisers providing scaled advice and the release of the Retirement Income Review.

A new report by CPA Australia has found that the economy could be better off by $630 billion if properly implemented professional advice was available to all Australians. In this episode of Accountants Daily Insider, CPA Australia head of public practice and SME Keddie Waller joins host Jotham Lian to explore the new Value of Advice report and why we need to rethink the way professional advice is regulated and move towards a client-centric model. Keddie looks at the benefits of obtaining advice, what's holding back consumers and businesses from accessing such advice, and why we need a more accessible and affordable advice framework.

With the Accountants Daily 30 Under 30 Awards being delivered as a live broadcast on Thursday, 3 December at 7:30pm AEDT, we are bringing you a series of podcasts showcasing the finalists across a multitude of categories. In this episode, Accountants Daily editor Jotham Lian is joined by Jane Betschel, head of marketing and digital sales at MYOB, principal partner of the awards, and two finalists who share how they are feeling about having gained recognition as part of the upcoming awards.

With the Accountants Daily 30 Under 30 Awards being delivered as a live broadcast on Thursday, 3 December at 7:30pm AEDT, we are bringing you a series of podcasts showcasing the finalists across a multitude of categories. In this episode, Accountants Daily editor Jotham Lian is joined by Ingrid Cronin-Knight, head of accountant management and acquisition at MYOB, principal partner of the awards, and two finalists who share how they are feeling about having gained recognition as part of the upcoming awards.

With the Accountants Daily 30 Under 30 Awards being delivered as a live broadcast on Thursday, 3 December at 7:30pm AEDT, we are bringing you a series of podcasts showcasing the finalists across a multitude of categories. In this episode, Accountants Daily editor Jotham Lian is joined by Caroline Wright, head of product at MYOB, principal partner of the awards, and two finalists who share how they are feeling about having gained recognition as part of the upcoming awards.

MYOB chief executive Greg Ellis joins host Jotham Lian to look back over 2020 and examine some of the trends that the accounting software provider has seen through the pandemic. Greg also reveals what MYOB is looking to pursue in the new year, and shares how it has been like to steer MYOB through the crisis in his first year at the helm. Greg also discusses the upcoming Accountants Daily 30 Under 30 Awards and why it's so important to recognise and celebrate the work and achievements of upcoming accounting professionals.

In this podcast, Aaron Dunn, CEO of Smarter SMSF, and Miranda Brownlee, deputy editor of sister brand SMSF Adviser, delve into some of the key insights shared during the SMSF Adviser Technical Strategy Masterclass. They discuss some of the key topics of the event including the proposed requirement to have SMSFs prepare their accounts 45 days before the lodgement deadline and changes to make the relief for electronic execution of documents permanent. With many of the presentations also outlining important strategy considerations arising from policy changes and potential legislative changes, they will also touch on what means SMSF professionals need to be thinking about with the advice they provide.

Around 5,000 accountants are set to benefit from mental health first aid training following an investment of $2.24 million from the government. The Institute of Public Accountants chief executive Andrew Conway joins host Jotham Lian to unpack what the project will look like over the next two years, what accountants can expect from the training, and why such training is so important for practitioners on the frontline. Andrew also reflects on the year that has passed, shares how proud he is of the profession, and offers some predictions for the year ahead.

"If you're feeling unsettled, anxious or stressed, we all are. That's absolutely normal in circumstances we find ourselves in," Beyond Blue chief executive Georgie Harman said. Last month, Accountants Daily sister brand MyBusiness hosted a special, three-day, virtual event to help small-business owners wade through the rough COVID-19 seas. Editor Maja Garaca Djurdjevic chatted with Georgie Harman about the importance of mental health in the workplace and why it's everyone's business. Ms Harman shared some key tips to help employers recognise when their employees may be mentally struggling through the coronavirus crisis and steps to take to help them navigate through the tough environment. Ms Harman also provided some key tips that small-business owners can use to check in with themselves. If you are suffering from depression, anxiety or suicidal thoughts, or you're worried about someone else and feel that urgent professional support is needed, contact your local doctor or one of the 24/7 crisis agencies below: Beyond Blue: 1300 22 4636 www.beyondblue.org.au Lifeline: 13 11 14 www.lifeline.org.au Suicide Call Back Service: 1300 659 467 www.suicidecallbackservice.org.au

The ATO has released its tax gap estimates for all 15 income and transactional-based taxes for the first time ever, believing $31.2 billion went missing in 2017-18. Tax & Super Australia tax counsel John Jeffreys joins host Jotham Lian to unpack the different tax gaps, including the small business tax gap, which remains the largest gap by dollar value and percentage figure. John also dissects the ATO's sample of agent-prepared returns requiring more adjustments than self-prepared returns and gives his take on how to reduce the tax gap.

With the federal budget now handed down, hosts Miranda Brownlee and Aaron Dunn discuss the measures impacting superannuation, what was missing from the budget this year, and the government's plans for the SMSF sector in the near future. While SMSFs emerged unscathed from the budget this year, they outline why there could still be major changes to superannuation tax and retirement income further on the horizon, with the government yet to respond to the Retirement Income Review. They also provide an update on some of the recent announcements from regulators and recent appointments in the industry.

The federal budget contained a range of tax measures aimed at incentivising businesses and individuals to spend and invest to kickstart the economy. Five of those tax measures have now been rolled into a single piece of legislation, which passed both houses of Parliament on Friday. On this episode of Accountants Daily Insider, The Tax Institute's senior advocate, Robyn Jacobson, joins host Jotham Lian to go through the finer details of each measure contained in the omnibus tax bill. Robyn looks at the personal income tax cuts, the temporary loss carry-back, expanded access to small business tax concessions, the turbocharged instant asset write-off, and the R&D tax incentive changes.

The JobKeeper program switches over on 28 September and with it a number of high-level changes that practitioners and their clients will have to wrap their heads around. On this episode of Accountants Daily Insider, the Institute of Public Accountants general manager of technical policy Tony Greco joins host Jotham Lian to discuss the new decline in actual GST turnover test, the two-tiered payment rate, and other key details. Tony also runs through some crucial action points for practitioners to work through with their clients over the coming days and weeks.

In this week's episode of Accountants Daily Insider, Xero's chief product officer Anna Curzon joins host Jotham Lian to explore the impact of COVID-19 on their accounting and bookkeeping community. Anna also runs through the latest findings of Xero's small business insights special report and walks through what Xero is doing this year in place of its annual Xerocon.

For many of us, it seems like an eternity since restrictions were first imposed in March. Every aspect of life has been impacted in one way or another, including the way we do business. In this episode of Accountants Daily Insider, Smithink director David Smith joins host Jotham Lian to look at the way the health pandemic has impacted accountants all across the country, while giving a sneak peak into his upcoming session at the Accountants Daily Strategy Week. David shares some key learning points that we should takeaway from the crisis and the changes that have been forced onto many accounting practices, including how the age-old excuse of 'my clients want it that way' no longer stands.

In the build up to the Accountants Daily Strategy Week, we shine a spotlight on one of our upcoming speakers. Business Automation Works chief executive Stan Corner joins host Jotham Lian in this week's episode of Accountants Daily Insider to give a sneak peek into his upcoming session at the Accountants Daily Strategy Week. Stan shares how the idea behind ATOmate was formed, how COVID-19 has changed the way firms view client engagement, and where he sees the profession headed to in the future.

Employing nearly half of all Australians, small businesses are absolutely vital for the nation's economy. Alex Brgudac has been on the ground supporting this sector through the rollercoaster ride that is COVID-19 in his role as the head of partnerships at online lender Prospa. Alex joins host Maja Garaca Djurdjevic in this episode of Accountants Daily Insider to talk about Prospa's transition to remote working conditions, the sentiment among his SME clients throughout the crisis, and the effectiveness of the government's support schemes thus far. He also explains how businesses have been pushed to positively adapt, what he expects to happen in the SME sector over the next few months, and shares some words of advice to small businesses that are struggling at the moment.

It's been five months since the government's JobKeeper scheme was rolled out to help support businesses through the financial difficulties brought on by the pandemic, and changes are still being announced. RSM associate director, Tracey Dunn, joins host Jotham Lian in this episode of Accountants Daily Insider to discuss all the changes and tweaks to the scheme that have been announced so far, and how practitioners can keep their business clients informed in this turbulent time. Tracey explains the 1 July employment date change, how it applies under the "one in, all in"; principle, the key proposals from the JobKeeper 2.0 announcements, and why the lack of legislative instrument or ATO guidance around the new changes is problematic.

With stage 4 restrictions now imposed in Melbourne, many accounting and bookkeeping practices are now required to close their onsite workplaces and work from home. In this episode of Accountants Daily Insider, Andrew Van De Beek joins host Jotham Lian to discuss how the new restrictions have impacted his Mount Eliza based firm Illumin8, what the sentiment among his business clients is like at the moment, and how he's keeping his team motivated and connected while working remotely. Andrew explains how the regulations have changed the way his team engages with their clients, details the initiatives they've put into place to address these issues, and shares some advice for other firms that are looking to embrace technology and digitise their processes.

The ATO has claimed a 12 per cent increase in tax returns lodged in the first two weeks of July compared with the same time last year, but practitioners aren't convinced they are seeing the same spike in their business this tax time. H&R Block director of tax communications Mark Chapman joins host Jotham Lian in this episode of Accountants Daily Insider to discuss the ATO's recent decision to stop breaking down the lodgement split between tax agents and myTax, and what he hopes for the future of myTax to provide a level playing field with agents. Mark reflects on how tax time 2020 has been so far, the changes he's noticed in his clients' claims, and his words of advice to other practitioners dealing with tax time this year.

With a whole range of legislative changes and so many Australians under financial stress as a result of COVID-19, this year's tax time is sure to bring its own set of challenges for practitioners. In this week's episode of Accountants Daily Insider, host Jotham Lian is joined by the managing partner at Pitt Martin Accountants & Tax Advisers and this year's Australian Accounting Awards Accounting Consultant of the Year, Teddy Kosasih, to talk about the common issues he's witnessing with regard to tax time 2020. Teddy explains why many people are lodging their tax early this year, outlines how practitioners can best support struggling business clients, and shares some tips on managing client expectations.

The Inspector-General of Taxation and Taxation Ombudsman (IGTO) provides an important, free service to assist taxpayers with complaints and concerns around the ATO and the TPB. In this episode of Accountants Daily Insider, host Jotham Lian is joined by the Inspector-General of Taxation, Karen Payne, to outline the role of her office in the broader tax system, new stats around taxation complaints over the last few months, and the process of escalating tax administration concerns. Karen explains why she endorses the simplification of the taxation of deceased estates, the key recommendations out of the Senate Economics Legislation Committee's inquiry, and the IGTO's plans for the coming financial year.

Amid what has been a turbulent end of financial year, it is likely for many advisers and clients that the introduction of the Director Identification Number regime may have gone unnoticed. In this episode of Accountants Daily Insider, host Jotham Lian is joined by Jamie Towers, tax partner at Mazars, to deep-dive into what the passing of this law will mean for directors over the coming months and years, and the penalties involved for those who do not embrace the new system. Jamie will explain why ASIC has chosen not to rely solely on tax file numbers, unpack your responsibilities as an adviser amid the changes, and share the practices and strategies that they are adopting at Mazars.

As the EOFY approaches, advisers are facing the new challenge of providing guidance to their clients around incorporating pandemic-triggered measures into their financial decisions. In this episode of Accountants Daily Insider, host Sarah Kendell is joined by Michael Hutton, personal wealth management partner at HLB Mann Judd, to break down the key issues that are affecting his clients in the lead-up to tax time. Michael explains some helpful strategies for advisers to consider for different client situations, from landlords with struggling tenants to those approaching retirement and to people with more cash than anticipated.

The National Tax Clinic program is a federal government funded initiative that helps financially vulnerable small businesses and individuals to navigate the tax system. On this episode of Accountants Daily Insider, the founding director of UNSW's Tax Clinic, Dr Ann Kayis-Kumar, joins host Jotham Lian to discuss how the program works, which demographics are eligible for this service, and how the pandemic has impacted the community she works with. Ann explains how the clinic finds its clients, the types of services offered by the clinic, and the benefits of increasing pro-bono services for the tax profession at large.

With the first-ever Accountants Daily Australian Accounting Awards happening as a live broadcast hosted by Vince Sorrenti on Friday, 19 June at 7pm AEST, we are bringing you a series of podcasts showcasing the finalists across a multitude of categories. In this episode, Accountants Daily editor Jotham Lian is joined by Paul Glossop, CEO of Standard Integrated Lending, Gold Partner of the awards, and two finalists who share how they are feeling about having gained recognition as part of the upcoming awards.

The halfway mark of the government's COVID-19 stimulus measures is approaching and the conversation is beginning to shift towards how businesses can best position themselves to recover from the current crisis. In this episode of Accountants Daily Insider, host Jotham Lian is joined by the managing director of businessDEPOT, John Knight, to talk about how his firm's virtual Rebound event came about and the key themes that have been discussed in these webinars. John reveals the number one priority for businesses to be working on right now, discusses how the potential changes to the JobKeeper program will affect small businesses, and shares his advice to fellow colleagues in the industry as we head into tax time 2020.

With the first-ever Accountants Daily Australian Accounting Awards happening as a live broadcast hosted by Vince Sorrenti on Friday, 19 June at 7pm AEST, we are bringing you a series of podcasts showcasing the finalists across a multitude of categories. In this episode, Accountants Daily editor Jotham Lian is joined by Terry Rodoni from at Cerebiz, Platinum Partner of the awards, and two finalists who share how they are feeling about having gained recognition as part of the upcoming awards.

With the first-ever Accountants Daily Australian Accounting Awards happening as a live broadcast hosted by Vince Sorrenti on Friday, 19 June at 7pm AEST, we are bringing you a series of podcasts showcasing the finalists across a multitude of categories. In this episode, Accountants Daily editor Jotham Lian is joined by Peter Vroom from Cerebiz, Platinum Partner of the awards, and two finalists who share how they are feeling about having gained recognition as part of the upcoming awards.

With the first-ever Accountants Daily Australian Accounting Awards happening as a live broadcast hosted by Vince Sorrenti on Friday, 19 June at 7pm AEST, we are bringing you a series of podcasts showcasing the finalists across a multitude of categories. In this episode, Accountants Daily editor Jotham Lian is joined by Malika Siyali, market development and agile lead at Thomson Reuters, Gold Partner of the awards, and two finalists who share how they are feeling about having gained recognition as part of the upcoming awards.

In this episode of Accountants Daily Insider, host Jotham Lian is joined by Matthew Addison, executive chair of the Institute of Certified Bookkeepers, to break down the latest developments on the JobKeeper front. Matthew explains some of the complications that have arisen around meeting JobKeeper deadlines, a new concession regarding enrolments for the months ahead, and an amendment that ensures employers are not subject to additional superannuation guarantee obligations by participating in the scheme. Matthew also shares his insight into concerns around cash-flow boost payments, the implications of Single Touch Payroll on this year's tax lodgements, and his tips for practitioners on getting through the coming weeks.

With the first-ever Accountants Daily Australian Accounting live broadcast Awards 2020, hosted by Vince Sorrenti on Friday June 19 7pm AEST, we are bringing you a series of podcasts showcasing the finalists across a multitude of categories. In this episode, Accountants Daily editor Jotham Lian is joined by Luis Sanchez, general manager of Receipt Bank, Gold Partner of the awards, and two finalists who share how they are feeling about having gained recognition as part of the upcoming awards.

With the first-ever Accountants Daily Australian Accounting live broadcast Awards 2020, hosted by Vince Sorrenti on Friday June 19 7pm AEST, we are bringing you a series of podcasts showcasing the finalists across a multitude of categories. In this episode Accountants Daily editor Jotham Lian is joined by Andrew Conway, CEO of the Institute of Public Accountants, Gold Partner of the awards, and two finalists who share how they are feeling having gained recognition as part of the upcoming awards.

With the first-ever Accountants Daily Australian Accounting live broadcast Awards 2020, hosted by Vince Sorrenti on Friday June 19 7pm AEST, we are bringing you a series of podcasts showcasing the finalists across a multitude of categories. In this episode Accountants Daily editor Jotham Lian is joined by Roman Kaczynski, director of Accountancy Insurance, Gold Partner of the awards, and two finalists who share how they are feeling having gained recognition as part of the upcoming awards.

With pandemic-triggered JobKeeper enrolments and cash-flow boost lodgements beginning to ease, practitioners are starting to turn their attention towards tax time 2020. The general manager of partner experience at Xero, Amanda Newton, joins host Jotham Lian on this episode of Accountants Daily Insider to share her insights into the challenges she foresees for accountants in the lead-up to the EOFY and some practical tips for practitioners in balancing their workloads come tax time. Amanda also reflects on the extraordinary resilience of the profession over the last few months, the sorts of concerns raised by accountants throughout the coronavirus crisis, and the post-pandemic outlook for the accounting sector.

With the Accountants Daily Australian Accounting Awards 2020 set to occur as a live broadcast event Friday June 19, we are bringing you a series of podcasts showcasing the finalists across a multitude of categories. In this episode Accountants Daily editor Jotham Lian, is joined by platinum partner of the awards Brendan Wright, CEO of FAST, and two finalists who share how they are feeling having gained recognition as part of the upcoming awards.

With the Accountants Daily Australian Accounting Awards 2020 set to occur as a live broadcast event Friday June 19, we are bringing you a series of podcasts showcasing the finalists across a multitude of categories. In this episode Accountants Daily editor Jotham Lian, is joined by platinum partner of the awards Brendan Wright, CEO of FAST, and two finalists who share how they are feeling having gained recognition as part of the upcoming awards.

In April, Momentum Intelligence conducted a major survey to understand how the coronavirus pandemic has been affecting the nation's professional services industries. The head of strategy at Momentum Intelligence, Michael Johnson, joins host Jotham Lian on this episode of Accountants Daily Insider to analyse the findings of the MyBusiness COVID-19 Sentiment Survey, revealing how accountants' revenue, workload volumes and mental health situations have been impacted. Tune in to find out how the accounting sector compares to other industries, the satisfaction rate among accountants towards the government's stimulus measures, and the overall industry sentiment when looking to a post-pandemic future.

On this episode of Accountants Daily Insider, the senior tax counsel at The Tax Institute, Professor Robert Deutsch, dissects the ATO's recently released guidance material regarding the JobKeeper payment scheme. Bob and host Jotham Lian break down Law Companion Ruling 2020/1, Practical Compliance Guideline 2020/4, and Practice Statement Law Administration 2020/1. Bob explains how each statement provides more clarity around government support, reflects on the overarching concerns of members at the moment, and shares some advice to practitioners on navigating the current crisis.

With all face-to-face FASEA exam sessions replaced with online exams as a result of COVID-19 and the bill to extend the 1 January 2021 compliance deadline in limbo, many advisers are expressing concerns about passing the test in time. On this episode of The ifa Show, host Sarah Kendell is joined by Joel Ronchi, the principal consultant of myIntegrity in Practice, a training organisation that specialises in preparing advisers for the exam. Joel outlines some of the concerns he's been hearing from advisers around sitting the exam remotely, what is driving the trend of fewer advisers passing over time, and how advisers can adequately prepare themselves for taking the exam in the coming months.

On this episode of Accountants Daily Insider, Tax & Super Australia's senior tax counsel, John Jeffreys, unpacks the most pressing industry concerns around the government's COVID-19 financial assistance packages. John specifies the final enrolment date for the JobKeeper payment scheme, amendments that need to be made to the enrolment form and issues in relation to satisfying the decline in turnover test. He also addresses confusion regarding cash-flow boosts for employers, outlines the industry response to the ATO's automatic blanket deferrals and shares his message to accountants on navigating this challenging time.

The economic impacts of COVID-19 mean that many accountants have become unemployed or inundated with new work, both of which can put an immense strain on one's mental health. Renowned wellness expert Graeme Cowan joins host Jotham Lian on this episode of Accountants Daily Insider to share his personal experience with mental illness, how he became involved in creating R U OK?, and his most trusted resources for COVID-19 information. Graeme provides some practical tips for accountants in navigating their own difficult circumstances as well as the emotional distress of their clients, and outlines his technique for effectively working from home.

With the COVID-19 pandemic forcing more businesses to implement flexible work arrangements, host Jo Cronolly is joined by the CEO and founder of Practice Protect, Jamie Beresford, to discuss the main considerations for accounting, bookkeeping and financial services practices during this difficult time. Jamie will share his top tips for ensuring that your team members are working safely and securely with company and client information, explain why the current environment is attracting an increased number of security risks for businesses and individuals, and talk about the policies that he believes all workplaces should have in place when staff are operating remotely. Jamie will discuss Practice Protect's security consultation services as well as the importance of structure in a work-from-home environment, and will share his thoughts on how this global pandemic may change the workplace of the future.

With the urgency of providing financial relief to Australian businesses and individuals during the COVID-19 crisis, new government policies and support packages don't have the luxury of time and, consequently, have not been fed through their usual consultation process. On this episode of Accountants Daily Insider, host Jotham Lian is joined by the Institute of Public Accountants' general manager of technical policy, Tony Greco, to delve into some of the technical issues that have arisen over the latest government regulations. Tune in to hear about businesses' attempts to manufacture entitlement to cash-flow boost payments, the industry response to the JobKeeper subsidy plan, and what the IPA is doing to support its members through this challenging time.

The government this week announced a second economic stimulus package worth $66.1 billion to help support Australians through the financial crisis brought on by COVID-19. Tax leader for Australia at Chartered Accountants Australia and New Zealand Michael Croker returns to Accountants Daily Insider with host Jotham Lian to break down the new regulations targeted towards SMEs. Michael provides his insights into the technicalities around calculating tax-free cash payments, the insolvency relief measures for company directors, and the somewhat controversial temporary early release of superannuation.

Amid the ever-changing landscape of a global pandemic, it's a critical time for accountants to reach out to clients who need support and keep them informed. On this episode of Accountants Daily Insider, host Jotham Lian is joined by Michael Croker, tax leader for Australia at Chartered Accountants Australia and New Zealand, to delve into the government's economic stimulus package and the ATO's response to the coronavirus crisis. Michael explains how the package will deliver support for business investments and provide businesses with cash-flow assistance, and outlines the additional state measures that are set to take some pressure off tax requirements.