eWombat Search

Latest Accounting News
Hot Issues
Tax Office sounds alarm on popular property strategy
Our Advent calendar for 2018
‘Please do not panic’: ATO boss addresses STP concerns
Stop!! Don't do a paper Budget, use our online budgeting tools instead.
Employee Christmas Parties and Gifts – Any FBT?
Behavioural Coaching and your financial plans
FBT – Christmas Parties and Taxi Fares
Information needed to be the BBQ expert.
Tax consequences of trust vesting
Fringe Benefits Tax (FBT): employees’ private use of vehicles
ATO to contact clients over bank details
ATO claws back $850m in unpaid SG in FY 17-18
Appetite for property in SMSFs shows signs of life despite tough market
Superannuation gender gap narrowing, research shows
Identification numbers for directors
How financial advice helps create wealth.
Australia's vital statistics
Unlocking equity crowdfunding in Australia
$20m boost for SME clients looking to exporting
Work-Related Expenses
ATO updates crypto guidance
ATO zones in on hundreds of newly created reserves
Senate passes $20,000 instant asset write-off extension
Victorian Vacant Property Tax
Director Penalty Notices
ATO set to pounce on undisclosed income streams
In case you missed it – The company tax Bill that did pass Parliament.
GST spotlight headed to smaller end of town
Superannuation Amnesty – Maybe! Maybe Not!
ATO drills in car-sharing focus this tax time
Articles archive
Quarter 3 July - September 2018
Quarter 2 April - June 2018
Quarter 1 January - March 2018
Quarter 4 October - December 2017
Quarter 3 July - September 2017
Quarter 2 April - June 2017
Quarter 1 January - March 2017
Quarter 4 October - December 2016
Quarter 3 July - September 2016
Quarter 2 April - June 2016
Quarter 1 January - March 2016
Quarter 4 October - December 2015
Quarter 3 July - September 2015
Quarter 2 April - June 2015
Quarter 1 January - March 2015
Quarter 4 October - December 2014
Quarter 2 of 2015
Articles
Capital Gains Tax – which year?
SMSFs may be missing out on allowable deductions
Change to Early Access Rules
Checklist for Employers Year-end
Year-end Tax Planning – Trusts
Year-end Tax Planning – Small Business
Reminders and Tax Strategies for SMSFs pre-year end
Year-end Tax Planning – Individuals
Overtime Payments May Eliminate Claims for Unfair Dismissal
Tips and traps for acquiring SMSF assets from related parties
ACCC issues scam warning
SME Dispute Resolution
Land Tax – Victoria
R&D incentives at risk
ATO adds ‘hot issue’ to its SMSF target list
Additional Super Contributions Not Appropriate for all
Issues arising from an underpaid pension
Salary and Superannuation after the death of an employee
IPA calls for zero pc tax rate
Australian Government - Budget 2015
Budget 2015 - some professional opinions
Looming end to SMSF Borrowings?
ATO warns SMSFs on franking credits scheme
Lump Sum Payments - Employer Reporting
Small business tax cuts 'not enough', says IPA
ACCC issues scam warning

 

The Australian Competition and Consumer Commission (ACCC) has issued a warning ...


... to accountants to be on the lookout for scams targeting their small business clients.



       


ACCC deputy chair Michael Schaper, who spoke last week at the IPA’s Tasmanian congress, said the commission receives thousands of complaints every year about scams targeting small businesses and said accountants must do what they can to protect their clients.


“It’s important to be able to warn accountants about these sorts of scams doing the rounds at the moment,” he said.


“The sorts of things we see that directly relate to the profession are things such as people being sent fake invoices.”


“The classic one is you get an invoice and think 'I didn’t order that, or maybe I did'.”


Mr Schaper also warned of scammers pretending that they are from the tax office.


“The tax office is another common one where people get an email or someone even rings them and says, ‘I’m from the tax office’ and either, ‘you need to pay us this money’, or ‘we've got a refund for you but you’ve got to pay this fee to get your refund’.”


Accountants, Mr Schaper said, have two roles to play in protecting their clients from scammers.


“First of all, just be aware of the scams that are out there and when [accountants] come across something, to report it back to us so we know as well. The second one is [to] cast a bit of a critical eye over what your client is doing. If there are unexpected expenditures, non-recurrent expenditures, items that seem out of keeping with the nature of the business, it may be indicative of a scam.”


Protecting clients from scammers can have an enormous impact on the accountant-client relationship, Mr Schaper added.


“Ultimately, most accountants are looking for more than just a transactional relationship, a partnership with businesses, and to say, ‘Look, I’ve found this; I’ve got your back covered’ is a great thing,” Mr Schaper said.


 


Staff Reporter

Tuesday, 02 June 2015

www.accountantsdaily.com.au




20th-June-2015
 

Stapleton Group: Suite C, 6 – 8 Floriston Road Boronia VIC 3155 | Phone: (03) 9760 7800 | Fax: (03) 9760 7860