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Accountants to practice what they preach

A new industry report has found that accountants who use the same processes and procedures that they recommend to clients, have happier, more functioning clients.

For many accounting professionals, after a week assessing their clients financial health, checking on their own firms health is not always a priority.

But it is worthwhile, using products and techniques that are suggested to clients helps accountants keep their finger on the pulse of the financial industry.

Testing out ways to help out clients in our own firm is the most effective we can be sure we always give you the best advice.

Posted on 4 June '12 by , under Business.

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Amnesty means that 24,000 businesses own up to underpaying Aussies superannuation

An amnesty scheme which ended earlier this month has caused around 24,000 businesses to admit to underpayment of their worker's super. A total of 588 million dollars will be distributed to almost 400,00 individuals.

The scheme, which covered payments from the introduction of super in 1992, gave employers the opportunity to come clean without any consequences as long as they paid the unpaid super as well as 10% interest for every year the money was overdue.

The ATO will be directing its attention at any businesses that did not admit fault and these businesses will face severe penalties.

Many individuals are looking to access their superannuation early in order to have support during these times. Although there is criticism of early access to super, this facility has been helpful to many families to keep afloat.

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