- Regional manager recap of month’s events and news
- Upcoming events
Queensland Regional Manager Update
Welcome to the depths of a Queensland winter - I have to say these sunny, clear and dry days are what I love the most about this amazing state, although I appreciate that for many, the lack of rain is a major cause for concern, and many of our members and their clients in the QLD CA community are doing it tough on a variety of levels.
In this article I would like to highlight some resources and supports available to members and to their communities.
Our Chartered Accountants Advisory Group (CAAG) is a confidential, complimentary resource for members when they find themselves in a situation with nowhere to turn. It is important that our members take good care of themselves and their practices, in order to be able to best support their clients. Whilst not a technical advisory service, our CAAG is at the service of our members who are experiencing ethical pressures, practice management/staffing or career issues, concerns over client requests or other challenging circumstances. In the spirit of a true profession, our members are there for each other to lend a supportive ear and steadying words of guidance. To access the service, or for help with anything troubling you, please reach out to me in the first instance and I will connect you with one of the CAAG team.
Small business - the ‘engine room’ of the economy - and the great majority of both our practitioner members and their clients are also doing it tough. I attend regular meetings of industry stakeholders for the Queensland government’s Office of Small Business. At the last meeting, a number of mental health resources for small businesses were highlighted, which can be accessed via Beyond Blue’s Heads Up site, and alongside our own resources for members provided by Mental Health First Aid, and a number of other providers. Hopefully these services will go some way to provide support where it is most needed.
Finally, in terms of client support, I wanted to highlight the ATO’s Cash Flow Coaching Kit, which is accessible through the ‘Let’s Talk’ section on the ATO website for practitioners. Members have reported that it is a useful method of engaging their clients with the importance of cash flow in their small business. Please let me know if it is of value to you.
The ATO are currently undertaking a series of half-day open forums across a number of regional Queensland centres – if you have the chance to register for and attend one of these forums, please use the opportunity to find out about support resources available to you in your practice.
In Brisbane, during September, we will be hosting the ATO with a session on Single Touch Payroll( STP). Please keep your eye out for the invitation emails for that session. STP will also be featuring heavily on the agenda for the regional open forums around Queensland.
Have a great month and look after yourselves.
Queensland Regional Manager
Queensland Events 2018
Key Events for September
- Sharing Knowledge Breakfast -Tuesday 4 September
- FIN218 Exam - Tuesday 4 September
- Townsville Winter Tax and Super School - Wednesday 5 and Thursday 6 September
- Townsville Certificate Presentation Ceremony - Wednesday 5 September Sunshine Coast Members Group - Wednesday 5 September
- MAAF218 Exam - Tuesday 11 September
- Forensic Accounting Breakfast - Wednesday 12 September
- Public Practice Program (PPP) - Wednesday 12 and Thursday 13 September
- Sharing Knowledge – One off single touch payroll - Wednesday 19 September
- Gold Coast Members Group - Wednesday 19 September
- Brisbane YCA Networking event - Thursday 20 September
- Building Knowledge – Not for Profit series - Thursday 20 September
- Cairns Members Lunch - Thursday 20 September
- Brisbane Certificate Presentation Ceremony - Tuesday 25 September
- Brisbane Strategies for Success - Thursday 27 September
Please contact the Queensland office for any further information:
World Congress of Accountants 2018 is being held in Sydney on 5-8 November.
Registrations are open now.
The World Congress of Accountants will bring together more than 6000 motivated professionals. The world’s leading accounting and finance experts will have the opportunity to network, brainstorm and build a road map for our profession into the future.
As finance and accounting professionals, you drive the engine room of business and take the lead in embracing change.
View the WCOA 2018 program to explore a learning experience like no other.
The 2018 Achiever work experience Program has begun. We are delighted with the number of applications received in Queensland. In total, there were 673 student applications for approximately 50 employer placements.
We have since completed psychometric testing and video interviews, and candidates have been chosen to move forward to the Assessment Centres and phone interviews (for regional areas).
We now look forward to matching students with employers for face-to-face interviews by the end of September. It is exciting seeing the high quality of candidates and we can’t wait to match these students with our engaged employers!
Opportunities and Updates
OSR Update - Duty Exemption Change
The Queensland Office of State Revenue (OSR) holds periodic consultation meetings with representatives of the accounting and legal professional bodies, which is attended by representatives of CAANZ.
At the last meeting, an issue was raised about a change to the application of the transfer duty exemption for transfers of a primary production business between ‘relatives’ in certain circumstances. Specifically, while the OSR had been applying the law as including first cousins within the meaning of a relative eligible for the duty exemption, on the basis of the OSR’s Public Ruling PR DA105.4.1, that ruling only applied until 22 May 2018.
Where CAs are assisting rural clients with family structures, they and/or the client’s legal advisers may expect that the duty exemption will still apply to cousins. However, they should now note that (while the OSR was to consider the issue further) the strict position since 23 May 2018 is that the OSR does not regard first cousins as within the scope of the duty exemption. Any such family restructure plans should carefully consider the implications of the additional transfer duty that may apply in light of this change.
Mark West FCA kindly attends the Queensland OSR consultation meetings on behalf of CAANZ. Please contact firstname.lastname@example.org or phone 07 3233 6500.