16

Jun 2022

Why Australian accounting firm owners need to get out of the office (permanently)

By: Odyssey General, Outsourcing
Tags: Australian Accountant, australian accounting, compliance, Offshoring, outofoffice, Outsourcing, Post-COVID, Remote working

The successful practice does not need the Australian accounting firm owner to be present in the office, and should not need the owner to be contributing to the bottom line. Allow me to explain by way of the evolution of the accounting firm. In the first quadrant, an accountant gains experience through working for another accounting firm as an employee. …

19

May 2022

Delay of 3-5 years before immigrants, international students and seasonal workers return to pre-pandemic levels?

By: Odyssey General, Outsourcing
Tags: Australian Accountant, australian accounting, immigration, labour shortage, Offshoring, Outsourcing

Despite the Australian borders being open, there has been an unremarkable number of new immigrants flooding into Australia, with an indication that Australia might not be winning the competitive global war for talent. There are indications that there is a slowdown in offshore visa processing, with older and more experienced workers being discouraged and an out-of-date priority jobs list. There …

10

Oct 2019

outsourcing-offshoring

Offshoring versus Outsourcing? Why the confusion remains

By: Odyssey Outsourcing
Tags: Offshoring, Outsourcing, turnover, virtual teams

Our CEO was visiting a client in Canberra the other day, and discussion invariably ended up mentioning the aggressive pursuit by offshore labour providers in the Philippines.  The question then had to be asked: why are some firms considering the Philippines labour hire solutions, while other firms are knocking them back and working with Outsourcing offerings. The response was: Offshoring …

25

Oct 2018

Practice management series - 1

The top 5 Benefits of Outsourcing your Australian Accounting, Taxation and Bookkeeping Compliance to an Experienced Offshore provider

By: Odyssey Outsourcing
Tags: benefits, Offshoring, Outsourcing

Outsourcing is not new. It derives from the economic principle of comparative advantage. CPA Australia released several great checklists back in October 2016, with lead author by Odyssey’s David Carter. The checklists in these series allow Australian accountants looking to use or provide outsourced services to cover many of the important aspects of outsourcing. This week we look at the …

09

Aug 2018

Experts

Why you need to talk to an expert when it comes to outsourcing

By: Odyssey Outsourcing
Tags: fake news, Offshoring, outsourcing gurus

In this time of “fake news”, we’re seeing it blatantly obvious that there are a lot of mis truths in the world today, and the world of Australian tax and accounting compliance outsourcing isn’t any different. We’ve seen some of the accounting industry self appointed “leaders” tinkering in social media giving their opinion on outsourcing, and we’ve seen some self …

22

Feb 2018

Offshoring - are you caught by the royalty withholding rules?

Offshoring – are you caught by the royalty withholding rules?

By: Odyssey Legislation
Tags: ATO, Offshoring, royalty withholding rules, Seat Leasing

Australian businesses looking to pay for outsource or offshore services need to be aware of the royalty withholding rules under Australia’s tax laws. For clients that are offshoring and paying a “seat lease” fee which includes rental of office equipment and software, then a payment for some of these items might arguably fall within the ambit of Royalty. As noted …

23

Nov 2017

Offshoring versus Outsourcing? Why the confusion remains

Offshoring versus Outsourcing? Why the confusion remains

By: Odyssey Outsourcing
Tags: Offshoring, Outsourcing, turnover, virtual teams

Our CEO was visiting a client in Canberra the other day, and discussion invariably ended up mentioning the aggressive pursuit by offshore labour providers in the Philippines.  The question then had to be asked: why are some firms considering the Philippines labour hire solutions, while other firms are knocking them back and working with Outsourcing offerings. The response was: Offshoring …

31

Aug 2017

TPB rattles Outsourcing and Offshoring Users

TPB rattles Outsourcing and Offshoring Users. Draft practice note released

By: Odyssey Outsourcing
Tags: Code of Professional conduct, Offshoring, Outsourcing, TPB

A few days ago the Tax Practitioners Board (TPB) released draft Practice Note TPB(PN) D38/2017 to provide practical guidance and assistance to registered tax practitioners in understanding their obligations under the Code of Professional Conduct in relation to the use of outsourcing and offshoring. It should be noted that this is a draft practice note, and submissions and comments are invited …

06

Jul 2017

How Australian accounting firm owners can semi-retire with lower risk…

By: Odyssey Outsourcing
Tags: Client comments, Offshoring, Outsourced Services

I received a message from an Australian accountant the other day. The message went something like this: Hi David, Just some feedback from my Partner in business (an old school hardworking now moving to retiring not the easiest lady to impress). You made it easy the questions that came back were of calibre and clearly indicated that you had certainly …

13

Apr 2017

Australian Accountants have big problems: Disruption hits hard in professional services.

By: Odyssey General
Tags: compliance, Disruption, Offshoring

We live in interesting times, but there is no denying disruption over the past 20 years since the internet and email burst onto the scene. Uber, Airbnb and Xero have been around for over a decade, and yet at the same time we still have rampant use of desktop bookkeeping and accounting software here in Australia. A little over a …