AccountantsDaily

Accountants Daily provides daily updates, insights, and analysis tailored for accounting professionals in Australia. This online platform aims to serve as both a supporter and a knowledgeable source for the accounting community. Accountants Daily has reported on significant political and corporate issues that impact professional services, making it an essential resource for accountants from large corporations to small businesses. Created by Momentum Media, Accountants Daily benefits from a strong history of producing tools that enhance industry engagement in the business and finance sectors. Momentum Media is acknowledged as a top publisher in Australia for offering cohesive media solutions.

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New financial services minister announced

4 days ago | accountantsdaily.com.au | Keith Ford

Prime Minister Anthony Albanese has confirmed that Dr Daniel Mulino will serve as assistant treasurer and financial services minister during an announcement in Canberra outlining the reshuffle of the broader ministry. • • 7 minute read Albanese said the ministers will be sworn in during a ceremony at 9am on Tuesday. You’re out of free articles for this month Username or Email Keep me signed in on this device.
Government advised to delay payday super to avoid ‘chaotic’ transition

6 days ago | accountantsdaily.com.au | Miranda Brownlee

Industry associations have raised concerns about certain design aspects of the new payday super regime and urged the government to defer the start date. • • 9 minute read Professional bodies and industry associations have highlighted potential issues with the proposed payday super regime and made recommendations to improve it in a recent submission to government.
ATO ‘hypervigilant’ with oversight of AI activities, Hirschhorn assures practitioners

1 week ago | accountantsdaily.com.au | Emma Partis

The Tax Office is becoming increasingly data-driven, but has implemented safeguards and procedures to prevent “high-impact errors” from occurring, the deputy commissioner has said. • • 8 minute read Jeremy Hirschhorn outlined the importance of human oversight when implementing AI systems at a UNSW conference in April, likening AI to a bionic arm as a tool, not a replacement. “AI may be a helper.
Accounting shortage opens up ‘dream job’ opportunities for accountants

1 week ago | accountantsdaily.com.au | Emma Partis

The accountant shortage has given workers more bargaining power to secure better conditions, public accountant recruitment specialist Christine Foggiato says. • • 8 minute read The public practice accounting industry has faced a decades-long talent shortage, which has worsened in the aftermath of the pandemic, recruiter Christine Foggiato told Accountants Daily. “There has actually been a public practice accounting shortage for at least 30 years,” she said.
Public executive accused of splashing out millions contracting friends: ICAC

1 week ago | accountantsdaily.com.au | Emma Partis

A former executive of School Infrastructure NSW (SINSW) has been accused of spending millions of taxpayer dollars on inappropriately procured contractors, including PwC. • • 9 minute read Former SINSW CEO Anthony Manning is being investigated by the Independent Commission Against Corruption (ICAC) for allegedly engaging friends and business associates in lucrative government contracts, resulting in significant cost blowouts for public school projects.
Merchant decision fortifies ATO’s position on Part IVA, accountants warned

1 week ago | accountantsdaily.com.au | Miranda Brownlee

Last month, the Full Federal Court handed down its decision in Merchant v Commissioner of Taxation [2025] FCAFC 56, which involved certain tax schemes undertaken by Billabong founder Gordon Merchant, based on advice provided by EY.
$1k standard deduction to free up ATO’s resources, says H&R Block

1 week ago | accountantsdaily.com.au | Miranda Brownlee

Labor’s proposed $1,000 standard deduction looks set to proceed following the party's win in the federal election. • • 8 minute read Tax measures announced by Labor in the lead-up to the election are likely to now progress into law after Labor managed to win the majority of seats in the House of Representatives. This includes the $1,000 automatic deduction measure, which will enable taxpayers to claim up to $1,000 for work-related expenses without the need for receipts.
Under the Hood: Accounting tech update for Q1 2025

1 week ago | accountantsdaily.com.au | Robyn Tongol

This week on Under the Hood, we hear from our friends Heather Smith and Tyler Caskey, co-hosts of the Accounting Apps podcast. Heather and Tyler share all the insider information you need to know about the technology space throughout Q1 2025. • • 4 minute read Tune in to hear more about: Accounting technology events. Recent feature and functionality updates made to various accounting tech platforms. Personal experiences and opinions of particular updates.
Whistleblower programs critical for detecting fraud, advises specialist

1 week ago | accountantsdaily.com.au | Miranda Brownlee

Organisations should ensure they have effective whistleblowing programs, with almost half of all fraud in the Asia-Pacific region detected through whistleblower reports, a fraud specialist has said. • • 7 minute read Roger Darvall-Stevens, partner and head of forensic services at RSM Australia, said establishing a proper whistleblower program is a critical part of any strategy for detecting and preventing fraud within an organisation.
Shaw decision warrants review of ATO’s approach to meal expenses: IFPA

1 week ago | accountantsdaily.com.au | Miranda Brownlee

The Commissioner may need to revise the ATO’s administrative approach to claims for meal expenses by long-distance truck drivers following the recent tribunal decision, the association has said. • • 9 minute read The Institute of Financial Professionals Australia (IFPA) has written a letter to Commissioner Rob Heferen, urging the ATO to review the way it administers the tax law in relation to meals expenditure claimed by truck drivers.