Latest News
06 January 2009
ATO issue Electronic Lodgement declaration for Activity Statements
For all members who are legally permitted under Sn 251L to lodge a clients BAS/IAS using either the BSP Portal or the ECI platform, the ATO have now released a document required to be signed by yourself and the client and retained for 5 years.
The form is a great idea and required for effective process. We don't particularly like parts of the way this has been designed but, for now, this is the version.
It has been released as an “rtf
30 November 2008
Inquiry into the Tax Agent Services Bill 2008
Senate Enquiry - submissions must be in by 12 January.
The website - http://www.aph.gov.au/Senate/committee/economics_ctte/tax_agents_09/info.htm
has detailed the process for submissions to the Senate Economic Committee looking at the implementation of the new Tax Agent Services / BAS Agents law
Inquiry into the Tax Agent Services Bill 2008
Information about the Inquiry
On 26 November 2008, the Senate referred the provis
30 November 2008
Tax Agent Services Bill 2008
The Tax Agent Services Bill 2008 is designed to give effect to reforms to the registration and regulation of tax practitioners, including bookkeepers who provide a business activity statement (BAS) service for a fee.
http://www.ato.gov.au/distributor.asp?doc=/content/Content/00144430.htm
Published: 28 Nov 2008
27 November 2008
TAX AGENT SERVICES BILL sent to Senate Committee
On Wednesday 26 November, the Tax Agent Services Bill was sent to the Senate Economics Committee who have been scheduled to report back by 12 February 2009. The terms of reference to the committee is only to ensure that all stakeholders effected by the bill have been heard. This means that this committee will conduct some further form of public access for input and report back to the Parliamentary process in February 2009.
As details of th
26 November 2008
Treasurer calls for input in the 2009-2010 budget
Treasurer calls for input in the 2009-2010 budget The link below provides information and contact points for submissions to treasury in relation to next years budget.
http://www.treasurer.gov.au/DisplayDocs.aspx?doc=pressreleases/2008/131.htm&pageID=003&min=wms&Year=&DocType=
Please forward any ideas that may be worthy of ICB putting together and providing a submission to government. Nothing prevents you providing your own submission
19 November 2008
BAS Agent Information Sessions
BAS Agent Information Sessions for BookkeepersThe Institute of Certified Bookkeepers will be holding information sessions in all the major cities - Melbourne, Sydney, Brisbane, Darwin, Canberra, Adelaide, Hobart and Perth - for bookkeepers during March 2009.
These sessions will try and explain the BAS Agent legislation, it's benefits and how it will impact upon you, the bookkeeper who provides the BAS preparati
19 November 2008
LAW for BAS AGENTS to go to Ministers
The proposed law creating the registered BAS Agent has progressed and is progressing further.
Last Thursday 13th November 2 out of the 4 important documents were tabled in the House of Reps: the Tax Agent Services Bill 2008 & the Explanatory Memorandum. The Transitional Bill & the regulations were not tabled and are not public in a final form.
The http://pmc.gov.au/parliamentary/reps/html/reps.html website lists the
18 November 2008
TAX AGENT SERVICES 2008 BILL – rushed into parliament for debate next Wednesday 26th
This bill was first tabled in parliament last week, allowing the public release of the Tax Agent Services 2008 Bill itself and the Explanatory Memorandum. However missing from the documents tabled were the other papers with significant immediate impact being the associated Regulations and the Transitional Bill.
The prime ministers website @ http://pmc.gov.au/parliamentary/reps/html/reps.html, has listed the 2nd reading and debate of the recently
17 November 2008
IMPORTANT INFORMATION – ATO shuts down all computers
The Tax Office will conduct essential maintenance over the Christmas-New Year period that will require all computer systems and applications to be shut down.
This means all our systems and services including the Portal, electronic lodgement service, telephone services and the Tax Office website will be unavailable from 4pm EDST on Wednesday 24 December 2008 until 9am EDST on Monday 5 January 2009. In addition, there may also be some disruption to serv
12 November 2008
Tax Agent Services Bill 2008 - URGENT UPDATE
Mr Bowen (Assistant Treasurer), pursuant to notice, presented a Bill for an Act to establish the Tax Practitioners Board and to provide for the registration of tax agents and BAS agents, and for related purposes, 9:11:43 AM.
Document
Mr Bowen presented an explanatory memorandum to the bill, 9:11:46 AM.
Bill read a first time, 9:11:50 AM.
Mr Bowen moved—That the bill be now read a second time, 9:12:01 AM.
Debate adjourned (Mr Lindsay, 9:1
10 November 2008
Time limit for claiming refunds
(From BAS Service Provider Newsletter Edition 20)
From 1 July 2008 onwards, claims for all refunds must be made within four years of the end of the tax period they relate to for:
goods and services tax (GST)
wine equalisation tax (WET)
luxury car tax (LCT), and
fuel tax credits
The four year time limit also applies to the revision of activity statements.
For more information, refer to:
GST and indirect taxes: r
10 November 2008
Update from Quality Training Solutions
on the Certificate IV in Financial Services (Bookkeeping) and the ICB Practical Bookkeeping Assessments
Quality Training Solutions have completed the mapping of the ICB Practical Bookkeeping assessments to the units of competency in the Certificate IV in Financial Services (Bookkeeping). The following is what they would ask for from students wanting to do the Certificate IV in Financial Services (Bookkeeping) after completing the Level I, II and
07 November 2008
Online Learning for Small Business
Are you looking to improve your small business or develop your financial management skills?
The SMExcellence website is a free online learning resource which provides short courses on business topics covering a range of industries.
Through SMExcellence, you can develop your business knowledge on issues such as:
starting a business
registration and compliance
sales and marketing
taxation and financial management.
For further in
28 October 2008
• ICB Financial Accounts year ending December 31, 2007
ICB is proud to release the 2007 Annual Report for the Institute of Certified Bookkeepers.
Download the full financial report here.
28 October 2008
TREASURY CONFIRMS CERTIFICATE IV in FINANCIAL SERVICES (Bookkeeping) IS VALID
Despite information being provided by other organisations we are able to confirm that Treasury states:
“As you are aware, the qualifications requirements are contained in the exposure draft Tax Agent Services Regulations 2008. Although the Regulations have not yet been finalised, we do not see any reason why the Certificate IV in Financial Services (Bookkeeping) would not be retained in the final draft.”
Business Tax Division
Rev
21 October 2008
Top Questions to ask your Certificate IV in Financial Services (Bookkeeping) provider (RTO)
When you are evaluating which Certificate IV provider to use you should ask the following questions
1. Given my experience and qualifications, how would I now best approach obtaining my Cert IV with you?
2. What is that approach – Assessment? RPL (Recognition of Prior Learning)?
20 October 2008
Top questions to ask about potential professional indemnity insurance policies
These questions are aimed to provide you with the information to know the answers and be comfortable with what you are getting!
1. Does the policy cover every aspect of your bookkeeping/consulting business?
It needs to include that you provide all aspects of bookkeeping work from set up and install of accounting software and systems, both manual and computerised.&nbs
14 October 2008
Fuel tax credits and GST instalments
This fact sheet provides information on how to claim your fuel tax creidts if you pay GST by instalments.
(An ATO resourse)
http://www.ato.gov.au/distributor.asp?doc=/content/Content/00167093.htm
Published: 14 Oct 2008
07 October 2008
Fuel Tax Credits - How to complete your business activity statement
This guide will help you complete the fuel tax credit labels on your business activity statement. It also provides information about making mistakes or adjustments, lodging and paying, and a checklist. NAT 15531
http://www.ato.gov.au/distributor.asp?doc=/content/Content/77182.htm
29 September 2008
Online learning for small business
Online learning for small businesses...
Are you a small business or thinking of starting up? The Queensland Department of Tourism, Regional Development and Industry has a range of online information and short courses to help you develop your knowledge and manage your business better. Smart Skills is an online learning site covering a range of business topics including:
getting ready for business
business planning
marketing and promotio
16 September 2008
ATO announces new timetable for implementing change to their systems
In February we (ATO) advised we were going forward with the deployment of fringe benefits tax (FBT) onto our new integrated core processing (ICP) platform in March 2008, and that we would continue testing income tax until we were satisfied it was ready, in order to minimise any adverse impacts on staff, taxpayers and their agents.
Read more.......
10 September 2008
Congratulations Kerry and Matthew Addison on the birth of your daughter
ICB would like to congratulate Kerry and Matthew Addison (ICB Executive Director) on the safe arrival of their beautiful baby daughter, Lily Jayde Addison at 7pm on Wednesday September 10, 2008
Lily weighs 2.71kg (5.97lb) and is 47cm (18.5 inches) long.
Mum and daughter are very well and, quote from the very proud dad “very cute”.
10 September 2008
GST tips for non-profit organisations
Sep 2008. The Tax Office has released a new guide to provide non-profit organisations, charities and gift-deductible entities with information to help them meet their GST obligations.
http://www.ato.gov.au/distributor.asp?doc=/content/Content/00161696.htm
Published: 09 Sep 2008
08 September 2008
MYOB Hands-on Workshop (Perth and Adelaide only)
FOUR DYNAMIC DAYS of Hands-on, Jam-packed full of practical and exciting and wondrous workshop sessions.
Bookkeeper Information Session
These sessions will deal with items such as:
1. Detailed information and interpretation on the proposed new law
2. Practical efficient solutions to the new law
3. How to obtain Financial Services Certif
20 August 2008
Business Victoria - Find an Advisor offer for ICB's Victorian members
Promote your business on the Victorian Government’s ‘Find an Adviser’ database
The Institute of Certified Bookkeepers (ICB) invites you to be part of a project in partnership with Small Business Victoria. ‘Find an Adviser’ is a searchable database of accountants, lawyers and business advisers, and we would like to offer all Victorian-based ICB members, who hold a current Practising Certificate and also hold current Professional Indemnity Ins
30 July 2008
Bookkeeper Information Session
Bookkeeper Information Session
These sessions will deal with items such as:
16 May 2007
Understand the New BSP Legislation here
We have prepared our first explanation of what the new draft system is supposed to be from the bookkeepers perspective.
To download the document, please click here.
15 May 2007
BAS Service Provider Information and Commentary Session
The Institute of Certified Bookkeepers
brings to you
An information and Commentary Session
on the
09 May 2007
Ground Breaking Accreditation in the Phillipines
The Institutes man in Manilla has done it again.
Our intrepid chief executive of the South East Asia Region, Henry Ong, has just informed us that the Institutes qualifications have been awarded official recognition by the Philippines government. This means that the Institute is now the only accredited provider of bookkeeping qualifications in the country.
Henry is pictur
08 May 2007
Minimum 2 years before anything needs to change
BAS Service Providers: The transition provisions of the draft new law allows a 2 year period before the existing law stops.
More details to follow but in the mean time dont panic. Why?
1) The new law allows you to comply with the current Sn 251L for the next 2 years, without changing anything.
2) Experience will count in complying
08 May 2007
ICB Newsletter May 2007
MAY 2007 MEMBERS NEWS & UPDATE
Content:
Member Survey Results
- Launch of Website Bookkeeper Search as a direct result
- Occupational Health and Safety Resources for Bookkeep
08 May 2007
GOVERNMENT NEW LEGISLATION DRAFT RELEASED TODAY
GOVERNMENT NEW LEGISLATION DRAFT RELEASED TODAY
The draft new legislation that includes the sections around the BAS Service Provider has been released today.
A few FACTS
1) It is draft legislation not law
2) BAS Service Provider status IS NOT REQUIRED for everyone
3) We will provide you with a practical information pack in the next days
4) ICB will be providing an access to all components requir
04 May 2007
Occupational Health and Safety
Now you can comply to legislation, in an easy to use program that not only has all the necessary forms but also teaches you what to do, when to do it and how to do it.
Online OH&S is your step by step occupational health and safety management system software, designed to assist small to medium businesses with compliance to Occupational Health and Safety Legislation.
The Online OH&S software will describe and guide your through
29 April 2007
ICB Annual report for 2006
Executive Director, Matthew Addison, proudly releases the 2006 Annual Report for The Institute of Certified Bookkeepers in Australia, announcing an extremely successful inaugural year. Given the little recognised bookkeeper industry, for ICB to have achieved so much in its first year is extremely encouraging.
Download the full financial report.
02 April 2007
Do professionals have an ethical compass and does it matter?
We find this recent speech by the Commissioner for Taxation to be of interest as they further recognise the profession of bookkeeping.
Do professionals have an ethical compass and does it matter?
Speech by Commissioner to Victorian Tax Bar Association.
http://www.ato.gov.au/distributor.asp?doc=/content/content/00096342.htm
Published: 30 Mar 2007
02 April 2007
Fringe Benefits Tax
FRINGE BENEFITS TAX
FBT returns are due for lodgement shortly!
As companies begin to collate their records and prepare their FBT returns, many may assess the benefit of providing fringe benefits to employees, given the level of compliance and amount of FBT which needs to be paid to the ATO each year. Thankfully, there are a number of positive outcomes which stem from the provision of fringe benefits. Some of these, such as red
29 March 2007
Special News Update - ATO provides newsletter called "The BAS Service Provider"
ATO provides newsletter called "The BAS Service Provider"
http://www.ato.gov.au/distributor.asp?doc=/content/content/00095917.htm
This link takes you to the ATO website and specifically to their new (released today) information newsletter for, I quote "a bookkeeper in the business of providing Business Activity Statement (BAS) Services." End quote.
PLEASE DO NOT THINK that just because you get this newsletter you are legally
23 March 2007
ATO Deputy Commissioner Outlines ATO Working With the Tax Profession
Understanding Tax Practitioners - Research with Bookkeepers 2006-07
Research is underway to help us gain a clear understanding of the world of bookkeepers.
Research into the role that bookkeepers perform in the operation of the tax system first commenced in 2004. Since that time the Tax Office has continued to explore and gain an understanding of this role including the needs and concerns of the people performing bookkeeping services
23 March 2007
Is Your Business Prepared for a Crisis?
A Government Business Planning Workshop
The Australian Government is conducting free business continuity planning workshops across Australia to help small businesses plan for an influenza pandemic or other national emergency.The workshops are being held from 26 March to 14 May 2007.
While the workshops will focus on pandemics, they offer valuable lessons that businesses can apply throughout the business cycle.Limited places are still available for t
23 March 2007
An ATO Update on Changes to Legislation
Update on legislation from the ATO Commissioner
Extracted from a speech where full content can be read at http://ato.gov.au/corporate/content.asp?doc=/content/00095120.htm
Tax Practitioner Legislative Framework
Last year, the Assistant Treasurer Peter Dutton announced that the Government would provide funding of $57.5 million over four years for the implementation of a new legislative framework for tax practitioners.
&nbs
23 March 2007
ATO Research with Bookkeepers 2006-07
Understanding Tax Practitioners - Research with Bookkeepers 2006-07
Research is underway to help us gain a clear understanding of the world of bookkeepers.
Research into the role that bookkeepers perform in the operation of the tax system first commenced in 2004. Since that time the Tax Office has continued to explore and gain an understanding of this role including the needs and concerns of the people performing bookkeeping
14 February 2007
February 2007 News and Update
FEBRUARY 2007 MEMBERS NEWS & UPDATE &
30 January 2007
If I am a member of the ICB, can I lodge BAS's?
ICB is currently working with the ATO & government to ensure that bookkeepers can keep doing bookkeeping work. The law requires only members of the accounting associations and those guided by tax agents be permitted to prepare BAS for their clients. Law currently allows you to use software to produce a BAS like form.
There is NO other exemption at this time.
25 January 2007
ATO penalises unregistered tax agent
Prosecution and fines for an unregistered tax preparer
An unregistered tax preparer was convicted and fined a total of $9,300 plus $125.40 in costs for 17 charges of preparing tax returns for a fee, relating to section 251L(1)(a) of the Income Tax Assessment Act 1936. The matter was heard in the Brisbane Magistrates Court in December 2006 and as the defendant did not appear, the case proceeded in his absence.
The defendant, a registe
18 January 2007
ICB appoints experienced bookkeeper and educator to Board of Directors
The Institute of Certified Bookkeepers in Australia is very pleased to announce the appointment of Mr John Birse to the board of Directors of ICB. Mr Birse has extensive experience and involvement in the bookkeeper industry as Chairman of the Franchise Bookkeeper Association of Australia and Divisional Franchisor for Jims Bookkeeping. These involvements together with Johns background as an accounting teacher in Secondary Schools, Project M
18 January 2007
MAJOR STEP FORWARD in networking & resourcing bookkeepers
The Institute of Certified Bookkeepers is pleased to announce the appointment of Mr Rick Freitag as Director of Resources & Networking. Rick has extensive experience and knowledge in running usergroups, network meetings, providing resources into the bookkeeper community. Rick now takes on this role to assist members of ICB to know about all the tips and tricks of being the best in bookkeeping as well as facilitating the ICBs current
14 January 2007
Update - BAS Service Provider - New Legislation
Government continues to understand our world!
The ICB, together with other segments of the bookkeeper community, continue to be in discussion with government (ATO & Treasury & others) in connection with the impact and reality of the proposed new legislation. The ICB continues to represent you in ATO forums, wider bookkeeper industry groups and discussions, Treasury p
02 January 2007
Quicken's new QuickBooks for Bookkeepers Training Course
Quickens long awaited QuickBooks for Bookkeepers course commences in 2007
Please let your members / franchisees / friends know that they are able to book now for 2007 dates by going to https://bookings.quicken.com.au/
The following dates are available now and more will be added in the next two weeks in Adelaide and Wollongong
MELBOURNE
06 December 2006
December 2006 News and Update
DECEMBER MEMBERS NEWS & UPDATE
06 December 2006
December 2006 Quarterly Business Update
Contents
How to cut your Business fuel costs - the fuel tax credit
23 November 2006
Bookkeeper Advisory Group Overview
What is the Bookkeeper Advisory Group (BAG) and what is it's purpose? If you have ever asked yourself this question, this article will provide the answer.
History
The Bookkeeper Advisory Group was formerly known as the Bookkeeper Industry Advisory Group. Following the Bookkeeper Symposium in November 2003, the Bookkeeper Industry Advisory Group was formed in May 2004 to allow consultation between the Tax Office and a repr
13 October 2006
**Special News** - Introducing the ICB Bookkeepers Survival Kit
Announcing the release of the web based ICB Bookkeepers Survival Kit.
Based on very successful versions of the Survival CD, Rick Frietag of IOCA has helped ICB create the ICB Bookkeepers Survival Resources for bookkeepers.
A Members Only section of the website dedicated to providing day to day tools and resources helping ICB bookkeepers. You can now access these resources from any computer as long as you login using
05 September 2006
The Institute of Certified Bookkeepers Ltd - Who Are We?
The Institute of Certified Bookkeepers is about bookkeepers helping bookkeepers.
We are an increasing association of Australian Bookkeepers, assisted by the established ICB UK association of 55,000 full members, looking to assi
31 August 2006
August 2006 News & Update
Content:
Editorial
Top 10 help for Bookkeepers
Resource ICB helping you
Bookkeeping Hot Spots
Updates on Insurance
Updates on Law BAS Service Provider
Updates on Education
Greetings
From what I hear, from what I have seen and from what I have felt; the June quarter was not an easy one for bookkeepers. A combination of Sup
30 August 2006
The 10 most helpful /useful / best things to help bookkeepers in doing their work!
((Tools, guides, information, that either exist or you would like))
Checklists
Payroll guides (Software specific with mention of the MYOB Payroll Guides)
ATO Website
Accountants knowledge & contactable accountants
ICB Website (and no this wasn't a planted answer)
Advanced Bookkeeper knowledge and assistance, advanced software knowledge
Bookkeeper Resource Kit (provided from a source now made available to I
29 August 2006
End of Period Errors from June 2006
ICB members provide a list of issues identified and requiring review while preparing the June 2006 end of quarter accounts for business.
This list has been compiled to identify common BAS preparation related issues. To view and print the full list, please click here.
11 August 2006
Bookkeepers Survey
At the Institute of Certified Bookkeepers, we are interested in your views and thoughts. We have put together a survey and we would welcome you all to take the time to complete the survey and return it to us. Your response will asssit us in our submissions and our represenations to various governing bodies. Please click here to download a copy of the survey.
You can forward the completed form to us:
By ma
10 August 2006
Monthly BAS Deadline Submission - A Letter to the ATO
The following is a letter to Mr Murray Crowe, Assistant Commissioner of the ATO in regards to end of financial year BAS deadlines from Mr Matthew Addison, Executive Director of the Institute of Certified Bookkeepers.
To print a copy of this letter, please click here
04 August 2006
Workload Submission - A Letter to the ATO
The following is a letter to Mr Murray Crowe, Assistant Commissioner of the ATO in regards to a bookkeepers workload from Mr Matthew Addison, Executive Director of the Institute of Certified Bookkeepers.
To print a copy of this letter, please click here
3 August 2006
The information below is written in response to the comments made in the article referred to above
18 July 2006
Bookkeeper Advisory Group Meeting Summary
Latest ATO Bookkeeper Meeting notes.
The following are the notes from the ATO Bookkeeper Industry Advisory Group (BIAG) now to be reconstituted as the Bookkeeper Advisory Group (BAG). The ICB continues to represent the views of Bookkeepers to the ATO at this forum.
Bookkeeper Advisory Group Meeting Summary
27 Jun
18 July 2006
Extension to PAYG Summary deadline..for some
ICB provides this information to you from the tax office as being relevant to the day to day work of bookkeepers.
SUMMARY:
The obligation to prepare and lodge the PAYG Summary by 14th August has been extended for some businesses.
TALK TO YOUR CLIENTS TAX AGENT to be sure it applies.
If the business ONLY employs family (see definition below) then the PAYG end of year work can be perf
14 July 2006
Newsletter and Update July 2006
Greetings to all
Well it has been a tremendous ride so far in the 4 months life of the ICB in Australia. Since launching on 1st March 2006, embarking on 2 trips around all states in Australia launching and then presenting State of the bookkeeping industry and the concepts of ICB to over 3000 people, we have been just a little busy. Content of presentation available at http://www.icb.org.au/members_area/latest_news/story70.
04 July 2006
Lodgement dates 2006-07
The Lodgment program 2006-07 is extensive and includes details of most of your lodgment requirements including:
income tax returns
monthly and quarterly activity statements
fringe benefits tax (FBT) returns and pay as you go (PAYG) withholding annual reports
annual goods and services tax (GST) returns and information reports
annual and quarterly instalment notices
a range of superannuation statements, and
a number of smaller lodgment req
30 June 2006
Professional Indemnity Insurance
INSURANCE PROGRAM
ICB is proud to announce the appointment of Willis Insurance Australia as broker of choice in preparation of the ICB Professional Indemnity Insurance program. The Insurance being provided by Dexta Corporation.
ICB & Willis have worked together to create a policy relevant and costed to all bookkeepers, from those in sole practice just fo
30 June 2006
BAS Service Provider
ICB awaits the release of information from treasury in relation to the proposed requirements for the BAS Service Provider. The requirements ARE NOT KNOWN and HAVE NOT been released for consideration by any part of industry.
Please note there is NO legislative definition of a BAS Service at this time. Neither is there any guidance on what a BAS Service Provider is nor wha
30 June 2006
The new Cert IV - The fact from IBSA as of 27 June 2006
Facts from IBSA the body responsible for development of the new certificate:
A Certificate IV in Financial Services (Bookkeeping) has been completed and will be submitted to DEST for evaluation prior to forwarding to the NQC for endorsement. Strong industry support for the introduction of this qualification suggests that it will have good take-up and could help ease the pressure on accountants. For further infor
06 June 2006
Certificate IV Financial Services (Bookkeeping)
In December 2005, Industry & Business Skills Australia (IBSA) allocated funds to progress the research and development of some unit(s) and some qualification(s) content as a means of introducing bookkeeper-specific content into FNS04 (Financial Services Training Package). Some Industry players including bookkeepers, associations, businesses & support groups were consulted in regard to content resulting in a draft course being created. T
01 June 2006
Bookkeeping in Australia - An information and introduction session
Based on content presented to audiences of conferences during May 2006
Introduction
The bookkeeping industry in Australia is developing.The implementation of GST in 1999/2000 and the development of the Business Activity Statement since then has resulted in concerns by government, accountants, bookkeepers and businesses with the completion of the
31 May 2006
New Tax Practitioners Regime
Introductions
The Institute of Certified Bookkeepers, 140000 UK members, has recently been established in Australia specifically to fill a gap in providing a credible professional association and representative body for all bookkeepers in Australia.
The implementation of GST in 2000 brought the role of bookkeepers into the spotlight as a result of
13 April 2006
Quarterly Business Update
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