Amanda Gascoigne FCA GAICD

Please read this important update in response to some of the media commentary on the new CA Program pathways.

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We are living through a period of rapid change. Are you prepared?   Chartered Accountants Australia and New Zealand is hosting a live webinar with renowned Global Futurist Dr Keith Suter, who will explore three key ways of thinking about the future to reduce the risk of being taken by surprise: prediction, preferred futures (how to make the competition irrelevant), and possible futures (thinking about the unthinkable). Register below: https://lnkd.in/gUavXiqX

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A little bit about the Next Level program for your Sunday perusal… Program Overview Next Level is a year long pre-advisory board education program for scaling manufacturers on the Sunshine Coast. Helping you to understand what an advisory board could do for your scaling business. Target Audience Companies beyond the startup phase with three years of growth, needing to scale operations, staff, leadership, processes, and systems. Education Filling in the knowledge gaps through workshops, whilst reminding business owners of what they already know and giving them the chance to implement inherent strengths into their business strategies. Advisory Panel Features 13 expert advisors from the manufacturing industry, providing quarterly advisory board meetings tailored to specific business needs. Choose three advisors for each quarterly meeting because it’s likely that you will experience different constraints throughout the course of the year. One or two advisors might not be enough if a mix. Planning and Mentoring Includes a one-page plan, 90-day action plans, and two hours of monthly mentoring where you are held accountable. Eligibility Sunshine Coast-based manufacturing, industrial or agri-businesses with approximately $10 million+ revenue and around 10 staff members. Enquire today-program of workshops kicks off on 30th August www.nextleveladvice.com.au #nextlevel #advisory #education #mentoring

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Your mindset determines your success. How successful are you? We’re in the business of financial transformation and our core purpose is to eradicate financial stress. We achieve that by combining our technical and accounting expertise with our dedicated and supportive team. If you need assistance with your accounts, contact Sarah on 0402 811 088 or book a complimentary meeting here. 👇 https://lnkd.in/g9_8V4Vn #bookkeeping #missefficiency #smallbusiness #technology #cloudaccounting #cloud #systems #businesssystems #success #businesssuccess #productivity #bookkeepingexperts #brisbanebookkeeping #workingmum #worklifebalance #xero #worksmarter #productivity #timemanagement

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Zombie firms Zombie firms are a real problem, a risk for staff and creditors, of which the IRD is often an important one. In business, cash flow is everything. It's hellish easy to get into a financial pickle because of trouble 'upstream', with a debtor not paying. Credit checking, regular invoicing and studious debt collection are part of the job. Always have a monthly catch-up with your professional accountant (CPA or CA) to 'discover' how the business is performing. Check your bank balance daily to find out if our debtors have paid. It's madness to advance any more credit until the debt is paid. Always pay all your own debts as they fall due. Never let the IRD fester. https://lnkd.in/gusxNYYh

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A free superannuation workshop: A chance for community members to understand how superannuation forms part of their retirement. The Logan City Council has partnered with Griffith Tax Clinic and UniSuper to present a free workshop about superannuation – a topic that many people can struggle to understand. This is a chance to learn about Australia’s unique superannuation system created to help people to have money when they retire. With cost of living pressures, your retirement may be the last thing you are thinking of. However, the Australian government wants you to save for your own retirement and has created the superannuation systems with different mechanisms and tax concessions to encourage your retirement saving. If you're employed or running your own business, it is a good idea to consider your retirement needs now and understand what the super rules are and how they could benefit you in the long run. This free workshops is being held in-person Friday 24 May 2024 from 12noon to 2pm at the Logan City Council, 150 Wembley Road, Logan Central. Griffith University Griffith Business School Australian Taxation Office Queensland Small Business Commissioner Small Business Association of Australia  Small Business Financial Counselling Service Southern Queensland Nabeela Furtado UniSuper Logan City Council  Michelle Martin Feel free to let you community members know about this. Spaces are limited so ensure you register via: https://lnkd.in/gvuAnC9s

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81% of Australian tech executives say they are struggling to keep up with the pace of change. Learn more in our report

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Facing an ethical dilemma at work? Learn how developing ‘ethical muscle’ can safeguard your accounting career and build trust with clients from ethics expert, Clare Payne. Read it here: https://ow.ly/7EBp30sHn0X #CAANZ #DifferenceMakers #GlobalEthicsDay

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🤶 Day 4 of the 12 Days of Christmas Promotion is here! 🤶 Are you ready to kick off 2025 with confidence in your practice’s compliance and quality management systems? 🎁 Today’s offer: $50 off my “Do It With You” Quality Control Workshop! 📅 Date: Wednesday, 15 January 2025 🕒 Time: 12:30 PM AEDT ⏳ Duration: 4 hours 🎓 Style: Interactive and hands-on 💡 Why this workshop? Recent quality reviews reveal common compliance gaps, including: 🔍 Incomplete or undocumented quality management systems. 🔍 Missing or insufficient engagement letters. 🔍 Risk management frameworks that don’t meet standards. Let’s fix that together. In this workshop, you’ll: ✅ Develop a quality control framework tailored to your firm. ✅ Get ahead of TASA changes and avoid compliance pitfalls. ✅ Learn practical strategies to protect your firm and clients. 🌟 Quality control isn’t just about ticking boxes - it’s about building a practice that’s secure, professional, and ready to thrive. 🕒 Save $50 today with code 12DAYSFOUR. Offer valid until 9 AM AEDT tomorrow! 👉 Register here - https://lnkd.in/ggfHXAi8 Let’s start 2025 with compliance, confidence, and control! 🎄

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Get ready now Clubs and NFPs for your first ATO Self-Review Return. Prior planning prevents poorly prepared ATO Self-Review Returns (and ATO scrutiny).

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Climate-related reporting has swiftly transitioned from concept to practice. The pressing questions now are who’s responsible for the reporting and who will audit it? Peter Vial FCA and Simon Grant FCA delve into this topic in Acuity's advocacy column. Read more in Acuity: https://ow.ly/a8Es30sErQx

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Now this is an interesting opportunity for companies that large scale deliver circular economy outcomes Circular Economy Investment Program now available The Queensland Government is pleased to announce the release of the $5 million Circular Economy Investment Program (the Program). The Program seeks to fund projects that will deliver large-scale, systems-focused circular economy outcomes. Applications will be considered for projects that reduce the use of raw materials, maintain products at their greatest value for the longest possible time, and offer lasting solutions for products or materials that have few or no existing solutions in Queensland. The Program is open to: -individual businesses -industry clusters and/or cooperative groups -social enterprises -charities -not-for-profit organisations -multisector partnerships – including a mixture of private sector, -entrepreneurs, investors, universities and/or non-government organisations. Funding of between $250,000 and $750,000 (excl GST) is available for successful applicants’ project costs. Potential applicants are encouraged to read the Program Guidelines which contain information about eligibility and the application process. The Program Guidelines are available on the website. Applications for stage 1 will close at 3pm Monday 29 July 2024. https://lnkd.in/gg8HmRDm Ange Hagan

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Have you checked your Association's constitution lately? If you are fortunate enough to hold a position on the Board of your not-for-profit Association, you may be reviewing your tax-exempt status. With the Australian Taxation Office's (ATO) deadline for lodging your self-assessment in October 2024, now is the time to ensure all your Association's documentation is in order. We understand the ATO has extended the lodgment to March 2025, which is an option for those needing additional time. One critical Governance and ATO requirement is ensuring that your association's Constitution is current. This includes ensuring it contains clear statements of purpose and rules regarding distributing surplus funds to members. (More information can be found on the ATO website, or AES members can log in to the AES website and view the AES-ATO webinar presented by ATO Assistant Commissioner Jennifer Moltisanti) An outdated or non-compliant constitution could jeopardise your Association's tax-exempt status and other regulatory benefits. Here are some essential questions to consider as you prepare: 👥 Has your Board reviewed the Constitution recently? 👥 Does it reflect the current and future needs of your Association? 👥 What steps are required to amend the Constitution if necessary? To support you in this crucial process, we invite you to join us this Thursday, the 15th of August, at noon for our regular lunchtime webinar. Association Executive Services Consultant Jan Davis, an expert in drafting constitutions, and I will be discussing the following key topics: 🙂 Examples of Effective Constitutions: What makes a constitution work well for an association, and how can you emulate these successes? 😶 Steps to Review Your Constitution: A practical guide to assessing your current Constitution and identifying areas for improvement. 😕 Cost-Effective Methods for Amending Your Constitution: Strategies to make necessary changes without straining your Association's budget. 😎 Ensuring Compliance Among Members: How to ensure your members are aware of and comply with the Constitution, thus safeguarding the integrity of your Association. This session will provide valuable insights and actionable steps to ensure that your Association's Constitution meets ATO requirements and is a robust foundation for your organisation's future. Click here to register. https://lnkd.in/gi7XRzBX #associations#association

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In this webinar hear CPA Australia’s policy experts discuss and distill the key announcements from the 2024-25 Australian Federal Budget. 🌎 It will include discussions on key budget announcements on taxation, superannuation, industry support, household support and the broader economy. Register now.

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I sat into a Chartered Accountants Australia and New Zealand webinar yesterday as part of the CA sustainability community. The topic was about how the Accounting profession can drive climate and nature related changes through Financial Reporting… Interesting to us accounting people, but for the rest of the world, not so much. But in there, one of the presenters was from an organisation called the Capitals Coalition. The discussion thread led to exploring what we mean by the word “Value” in 2024. Because it is changing. The Capitals in the Capitals Coalition are more than we would normally talk about … Natural Capital, Social Capital, Human Capital and Produced Capital. Produced Capital is where the capital that we all get – financial – sits. But the proposition is that the term Capital is so much wider, and flowing from that the definition of value can also be so much wider. AND that all the different types of capital need to be integrated into our thinking and decision making if we are going to create sustainable organisations. I have been working with these ideas for some time now, especially in the pursuit of sustainable futures. Redefining value makes a lot of sense. If there truly are bigger definitions of Capital which can add value, why would a rational person ignore them? And taking an integrated approach makes a lot of sense. There is no point creating a solution in one area without considering the impacts in other areas. This applies systems across organisations as much as it does in making decisions across the different capitals. I guess the question is who can claim the title C21 professional? Are they up for this discussion? Are you? If you are ready and willing to think past the twentieth century, jump over to www.donjameson.com, and let’s talk… the world is full of opportunity if we just look enough. Who said Chartered Accountants aren’t cool??? #Future #TransformationalLeadership #LeadershipDevelopment #Directors #Technology #YourNetworkForLife

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𝗣𝗮𝗿𝘁 𝟮 𝗼𝗳 𝗺𝘆 𝘄𝗲𝗯𝗶𝗻𝗮𝗿 𝘀𝗲𝗿𝗶𝗲𝘀 𝗼𝗻 𝘁𝗵𝗲 𝗱𝗿𝗮𝗳𝘁 𝗧𝗣𝗕 𝗴𝘂𝗶𝗱𝗮𝗻𝗰𝗲 𝗼𝗻 𝘁𝗵𝗲 𝗖𝗼𝗱𝗲 𝟭𝟳 𝗗𝗲𝘁𝗲𝗿𝗺𝗶𝗻𝗮𝘁𝗶𝗼𝗻 𝗶𝘀 𝗰𝗼𝗺𝗶𝗻𝗴 𝘂𝗽. In this webinar I will cover: 👉 Obligation to keep proper client records of tax agent services 👉 Supervision, competency and quality management 👉 Keeping clients informed Date: Tuesday 3 December 2024 Time: 12 - 1 pm AEDT Medium: Zoom You must be a member of the johnjeffreystax.com.au website to attend the webinar. The first webinar covered upholding and promoting the ethical standards of the tax profession and false and misleading statements. These are now available for viewing for members of my website. 😁 It's easy to become a member of my website. Just visit johnjeffreystax.com.au and follow the instructions on the home page. Membership costs only $25 + GST per month. You can download my submission on the TPB draft guidance by visiting my website. The download facility is the first item on the home page.

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https://lnkd.in/gpf8rZsu The ABC has published a detailed article on the NSW Parliament’s inquiry into the integrity of major consultants. Logically, the inquiry concludes absence of laws and regulations is a fundamental enabler of the lack of integrity seen. The Big Four firms operate in substance as giant corporations, but use the legal form adopted by local doctors surgeries or suburban legal practices. The Big Four are not a few doctors or accountants splitting rent and admin costs. The are multi-billion dollar operations. In theory, partners have unlimited joint and several liability, seeing limited regulation in return for no protection from creditors. The key reason for the development of companies in the first instance was to be an alternative to the unlimited liability of partnerships. In return for this protection, companies are bound by laws and forced to accept increasing levels of transparency and regulation. The Big Four firms have solved this by using Chartered Accountants Australia and New Zealand's professional liability scheme. That caps the liability of these global firms with turnover of $2 billion each to just $20m, in most cases. Even better (if you're a Big Four partner), even if your capped liability results in a damages payment, your cost is insured so no impact on profit. Every other company is liable to the value of its equity, has to report, pay tax and management and directors can be gaoled or lose their assets for misconduct. Sitting outside Corporations Law means for the Big Four there are: ·      No duties or obligations on the ‘CEO’, ‘executives’ or ‘board’ ·      No legal protections for ‘whistleblowers’ ·      No annual reporting ·      No annual meeting ·      No audited financial statements ·      No prohibition on insolvent trading ·      No company tax; and ·      No payroll tax Heaven knows what sort of jiggery-pokery has or is going on in partnership finances as they adjust to the slump in consulting revenue. It’s good to see the inquiry's report call out these unregulated, untaxed and protected pseudo-corporations - and recommend material changes to law. But as Adele Ferguson quotes of me in her article, the risk now is nothing happens – again. I said: “The recommendations of the inquiry are sound, but there has been little palpable appetite by the NSW or federal governments to change laws and regulations and enforce penalties for existing wrongs," I hope I am wrong. Richard Colbeck Senator Deborah O'Neill Barbara Pocock Anthony Albanese Chris Minns

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Is tax and/or Inland Revenue NZ something that you're scared of? On 30 July Campbell Rose and I will be presenting a webinar to give an update on Inland Revenue's compliance focus, as well as explaining how you can get your taxes sorted to be ready if Inland Revenue propose an audit or start the disputes process. You can register here: https://lnkd.in/gbVPTCN3 #tax

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