31

Mar 2023

Problems With The Offshore Labour Hire Model

By: Odyssey Outsourcing
Tags: australian accounting, labour shortage, Offshoring, Outsourcing

I spoke to the director of an Australian firm last week who had staff resource issues, and he’d indicated he had both bookkeepers and compliance staff in an offshore location. He’d had these staff for a couple of years and had trained them up in both SMSF and compliance (company, trust partnership, sole trader and individual returns). This firm had …

22

Sep 2022

Geographical and geopolitical risks for outsourcing Australian accounting and tax returns

By: Odyssey Uncategorised
Tags: Australian Accountant, Geographical risk, Geopolitical risk, Offshoring, Outsourcing, Post-COVID, Price surges

Post COVID there has been significant global and economic factors contributing to upheaval of the traditional ways of doing business. COVID contributed to significant pressures on the global supply chain, for which the world has not yet recovered. There’s a shortage of everything from shipping containers to microchips. China continues to establish an increasing presence in the world stage, and …

14

Jul 2022

How the fluctuating Australian accounting dollar impacts overseas labour hire companies

By: Odyssey General
Tags: Australian Accountant, Exchange Rate, Exchange Risk, Offshoring, Suppliers

It’s no secret that many Australian SME firms have been seeking labour hire overseas, with the risk as these services are usually quoted and paid in the foreign country source currency. With an Australian accounting dollar noted as a fluctuating currency, and the recent economic turmoil, especially in times of high inflation, it’s sure the foreign country source currency can …

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 …