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The organisation now known as DFK International was founded in July 1962 when Ronald Warlow, a partner in Edward Thomas Pierson & Sons (London) and John Douglas, Senior Partner of J W Douglas, Gilder & Co (Sydney) agreed to sponsor the formation of a international accounting group. The initial name used for the group was “The International Accounting Group”.

It continued as an unincorporated organisation for a considerable period but as it expanded and grew into a major international organisation, it was found necessary to further formalise the relationship between the firms. In 1982 it was converted to a company incorporated in the Netherlands.

The organisation has had a number of names over the years. For several years it was known as Douglas Fox Kidson International. This name came from the names of the most prominent members being an Australian, An American and an Englishman. The name Douglas Fox Kidson International was soon found to be too long, and it was shortened to DFK International in the early 1980’s.

So, Australia can be proud that it has been a member of DFK International since its inception. The original member was the Douglas Thompson group which resigned in 1990. This resignation allowed The Accountants Network to join as the Australian member firm.

DFK Australia Limited was incorporated on 11 July 1996. Prior to that, DFK Australia was an unincorporated Association of accounting firms from around Australia. DFK Australia was originally known as "The Accountants Network" which commenced in 1984. Of the original members of The Accountants Network, only the Adelaide firm of Gray Perry (even though they have changed their name since then) is still a member.

 
 

Excess Contributions Tax: Commissioner’s Discretion


The Tax Office has provided guidance on whether or not the Commissioner will exercise his discretion to disregard excess non-concessional contributions where:
  • the contributions were initially made as concessional contributions but due to unforeseen inability to claim a tax deduction were treated as non-concessional contributions; or
  • the excess contributions arose due to a banking error made by a party other than the trustee of a superannuation fund.
The Tax Office reiterates that the Commissioner will only exercise his discretion if there is:
  • the existence of ‘special circumstances’; and
  • the object of the tax laws governing superannuation contributions are met. read more...
 
 
     
 

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DFK Gray Perry, Chartered Accountants, Accounting, Adelaide, Australia