AAT Australia

As expected, Treasurer Jim Chalmers has delivered a family-friendly budget with few measures to help SMEs alleviate inflationary pressures, reports IPA's Group Head of Technical Policy, Tony Greco, fresh out of the Federal Budget lock-up.

Measures of interest include more funding to pursue personal tax compliance, unregistered preparers, and fund TAFE courses to help reskill and upskill the existing workforce.

Over the next two years, $15.1 million will be given to the small business debt helpline and access to the mental well-being program for small business owners. $62.6M has been allocated to support SME energy efficiency efforts.

Tax measures of interest include:

1 Extra money to the ATO for personal income tax compliance, such as overclaiming deductions and incorrect reporting of income
2 ATO Tax avoidance taskforce will receive boosted funding for its ongoing focus on multinationals and large public and private businesses, which is expected to raise $1B over four years
3 - Aligning the tax treatment of off-market share buybacks undertaken by listed public companies with the treatment of on-market share buy-backs.

4 - Multinationals
A Thin capitalisation - changes to the rules that limit debt deductions
B Denying deductions for payments relating to intangibles held in low-or no-tax jurisdictions
C Introduce enhanced reporting to improve tax transparency

For our official Budget coverage, check out the special edition of Technical Advantage hitting your inboxes at 10:30 tonight.

What do you think of today's budget? Share your thoughts below.

Two weeks to go until the Tech Talk. This month we are joined by On-Chain. Electra Frost of Accountants On-Chain will explain the web 3.0 client profile, the accounting software integrated tooling used for , and more.
Register for free today for this months Tech Talk on Thursday 29 September.
http://ow.ly/4XMg50KHCGU

Don't miss our upcoming monthly Tech Talk on Thursday 25 . This month we are joined by Aider, a powerful and intuitive advisory intelligence platform built for and .
Find out more and register your place today!
http://ow.ly/4sUb50KhtJa

Can we ask you something? It's been eight months since we started taking a broader editorial approach to the IPA Group's official magazine Public Accountant and we'd love to know how you like it.

Are we covering the right topics? Do you need more technical advice? Would you like to see us in print or digital only?

Fill us in - it will only take a few minutes!

Please head to https://www.research.net/r/6BTPB7K to share your feedback. If you have any questions, please drop us a note at [email protected].

Your opinion matters!

The IPA family is growing! Today, we announce a mutual recognition agreement with , the National Institute of Accounting Technicians in the Philippines representing over 30,000 accounting professionals.

The agreement will establish a bond between the two member organisations through reciprocal recognition, membership and education pathways, aligning members for further growth.

This latest collective handshake is part of the IPA Group's broader effort to increase the visibility and support for the profession in Southeast Asia.

We are delighted to welcome our colleagues from the to our global family. Salude!

Did you miss out our latest online discussion group? Join us at our upcoming one on Thursday 21 July, facilitated by Jo Voight. Come and meet fellow bookkeepers and BAS agents to discuss current events ad relevant industry topics. This is a FREE event for AAT members.
Register today: http://ow.ly/blks50JGkIU

We are thrilled to invite you to an exciting Environmental, Social and Governance (ESG) seminar with global accounting doyen and inventor of the Balanced Scorecard, Professor Robert Kaplan on July 19, 2022 at 11AM (AEST).

Hosted by the IPA Group CEO Professor Andrew Conway, the seminar will examine how we move from subjective, non-comparable, and unauditable ESG reporting towards real sustainability measures using rigorous triple bottom line accounting and our existing tools. You will learn about:

🔹 The Balanced Scorecard as a corporate strategy measurement and management tool;
🔹 The extension of Balanced Score Card to reflect what to measure in your ESG strategy;
🔹The inclusive growth strategies that connect marginalised populations to corporate supply chains for products, services and talent.

Do not miss this rare opportunity to see Bob Kaplan live and learn why accounting already has all the tools and frameworks to measure and manage our sustainability goals.

📌 Register Here: http://ow.ly/OGZU50JOgsp
📌 Join us on July 19, 2022 from 11AM-12PM (AEST)
📌 Earn CPD points

Stay ahead of the pack with

Are you curious about the latest software within the accounting technician industry? Join us for our monthly Tech Talk, as Marmalade present a new way to solve cash flow strain for your clients. This session will be held on Thursday 28 July from 12:30pm to 1:30pm AEST, and is FREE for AAT members.
Register for this event today: http://ow.ly/8HjH50JGku0

Join us and our facilitator, Eric Ohlson online for the AAT discussion group on Wed 6 July from 4pm to 5pm AEST. You will have the opportunity to connect with fellow bookkeepers and BAS agents to discuss current events, relevant industry topics and topics from the AAT newsletter.
This is a FREE event for AAT members. Register your place today: http://ow.ly/Oolx50JGkgf

"We're now the least self sufficient country in the OECD when it comes to manufacturing, which an important element of capability," says Green, Emeritus Professor and Special Innovation Advisor at the University of Technology Sydney, in an IPA podcast ahead of our New Measures of Economic Success event.
This exciting event - with an amazing line up speakers, including Prof Green, Emeritus Professor Robert. S Kaplan, PwC's Kushal Chadha, Atlassian's David Masters, Purpose Bureau's Nick Kamper and DFAT's Robert Jauncey - kicks off in just over an hour.
Join us! Register here http://ow.ly/agt650JmzX7