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La Trobe Business School

Tag: Employment

“Where will the tax jobs be in 2020?”

Mark Morris La Trobe Business School Professor of Practice
By Mark Morris

It’s a vexing question for those planning a career in tax.

In my 30 plus years in the profession I have never seen it face so many challenges simultaneously.

The most obvious change is of course digital disruption.

In part this is because the automatic exchange of data is about to balloon as information is transferred in real time as computers talk to each other in a common language using standard business reporting.

But it is also because of the investment being made around the world by Governments and business to effectively leverage their use of big data to make more informed decisions. This is even extending to the development of cognitive computing systems such as IBM’s ‘Watson’ system which can be applied to analyse unstructured data to provide answers to specific questions.

As a corollary much of the traditional tax compliance and process work will gradually diminish as data is collected, exchanged and analysed differently.

However, there are an array of other impending changes including, amongst others, a more informed and savvy public; greater cross border transactions as part of a more integrated world economy; increased offshoring especially of compliance work; more complex tax laws to prop up increasingly competitive tax regimes; a growing reliance on consumption taxes worldwide to provide a more stable revenue base; and an evolving international digital economy where labour, finance, and knowhow are mobile to an unprecedented degree.

Given this mix no-one can predict with absolute certainty where the tax jobs are going to be in 2020.

Nonetheless I believe there are some clear pointers as to how you can best plan a career in tax.

Firstly, the importance of being able to analyse big data in a meaningful way is becoming rapidly crucial to both revenue authorities and professional firms of all sizes.

From the ATO’s perspective it is their growth area as witnessed by the recent creation of their Smarterdata business unit which is not only focussed on analysing data but challenging paradigms as to how the ATO conducts its operations.

Increased globalisation has also heightened the need for businesses of all sizes to be transfer pricing compliant and develop defensible positions based on finding the most comparable data.

Accordingly, tax professionals wishing to augment their tax technical skills by developing business analytics expertise could well consider enrolling in a course such as the Master of Business Analytics and Graduate Diploma in Business Analytics run by La Trobe University’s Business School as the combination of such skills will be in high demand in coming years.

Secondly, if compliance work goes down rest assured the taxation laws will not become any easier.

Whilst many talk about deregulation the tax rules have only become more complex especially for governments worldwide struggling to plug a revenue shortfall.

One only has to witness the complexity of our general anti-avoidance provisions to realise how inordinately complex our tax system has become particularly the recent amendments which will supposedly crack down on international profit shifting.

Going forward what clients will require of their advisers is the ability to work with them in disseminating such complexity and providing viable commercial solutions.

Accordingly, the way in which tax is taught at both an undergraduate and postgraduate level must radically change so that students not only absorb the complexity of the tax law but develop the interpersonal skills to service clients and build referral networks in a more global economy.

This is one of the key reasons why blended learning is being introduced by the Business School as it is encouraging students to not only develop better analytical capacities but also to work in teams to collaboratively resolve issues just like they will be required to do in the workplace.

Finally, whilst the future is daunting in some respects it is critical to remember that accountants repeatedly top the list of most trusted adviser to clients. If you are overwhelmed with change so are your clients and if you need to adapt to changing circumstances so will many of them.

Keeping your clients close will be more important than ever before as will the need to provide timely, accurate and value added services and the willingness to be adaptive and agile.

Mark Morris is a Professor of Practice in Taxation at La Trobe University’s Business School where he teaches both undergraduate and postgraduate taxation and actively contributes to broader industry engagement initiatives between the Business School and the tax profession and other key stakeholders.

Mark also Co-Chaired the ATO’s ‘Future of the Tax Profession 2016’ working group with Colin which comprises senior representatives from the ATO, professional bodies, software developers and practitioners concerning the implementation of the ATO’s standard business reporting initiative.

He has over 30 years experience in senior tax roles in chartered accounting, industry and professional bodies including his former long-term role as Senior Tax Counsel with CPA Australia.

 

Our industry connections make you career ready

What you do at university is important to us.

However, it’s what you do after university that interests us the most. We know that studying is a significant investment, so we’re committed to making sure you graduate ready for work.

With the employment landscape evolving constantly, the best way to make sure we’re teaching the right skills is to go straight to the source. That’s why we work closely with industry to find out what they want in graduates – both right now and in the future.

Developing the degrees industry needs

We’re constantly reinvigorating our courses to prepare you for roles in emerging fields of employment. We work directly with industry to identify skill gaps and develop degrees to address them.

For example, our industry partner Cisco has identified that there are currently a million cybersecurity jobs opening globally, with demand projected to rise in the coming years.

In response to this demand, we’ve developed our new suite of cybersecurity degrees with input from Cisco, Optus, Australia Post, Australian Signals Directorate (ASD), Cisco, Hewlett Packard Enterprise, Symantec, Atlassian and Cloudera.

Simone Bachmann, Head of Information, Security, Innovation and Culture and Australia Post, says, ‘we need people with problem solving skills, we need innovators, we need people with legal and regulatory skills, we need communicators and educators to help people understand the problem.’ These degrees address the growing need for cybersecurity professionals with interdisciplinary skills.

Our Master of Sport Analytics (developed with leading sports clubs and technology companies), Master of Business Analytics (with 20 per cent of the curriculum taught by industry experts) and Master of Data Science (addressing a data analytics skills shortage) are other examples of our industry relationships preparing students for the future of work.

Future-facing industry partnerships

We’ve established relationships with major organisations to make sure we stay at the forefront of industry developments.

Our partnership with Optus, which focuses on cybersecurity, will result in scholarships and Work Integrated Learning (WIL) opportunities for our students, as well as employment pathways for graduates.

We work closely with a number of sporting clubs, including Melbourne City Football Club, Carlton Football Club, AFL Player’s Association, Bendigo Spirit and IPL Kings XI Punjab to give our students access to work placements as well as research and internship opportunities.

We’re also the only university to offer an accredited art subject at the National Gallery of Victoria (NGV). As learning partner for the NGV’s summer exhibition, we’ve offered the subject Summer at the NGV for the past four years – in 2017, students were able to study the work of British icon David Hockney.

Preparing you for success with industry insights

Technology is advancing at an incredible rate, which means that many of today’s roles won’t even exist in the future.

It’s our job to prepare you for the roles of the future. We do this by helping you develop the flexibility and transferable skills you need to adapt to the changing market.

We’ve spoken to a number of employers, including PwC, Commonwealth Bank, Alfred Health, Thoughtworks, Pfizer, CSIRO, Melbourne Football Club, Telstra, Bureau of Meteorology, Deloitte, Certified Practicing Accountants and more to identify the core skills and attributes that employers value most highly.

We’ve used these insights to develop Career Ready, a program that supports you to build the attributes employers want. The program includes an app, a dedicated support team, an on-campus recruitment agency, and a range of activities you can participate in to build your skills.

First-hand industry experience

We’re also making sure our students come into contact with industry while they’re still studying.

With our Professors of Practice program, we’re championing a shift in how industry can contribute to education. Our Professors of Practice are industry professionals employed by the university to advise on curriculum, and, in some cases, teach.

Mark Morris, a Professor of Practice in the Department of Accounting, says, ‘I try to provide insights as to what they will find in the workplace wherever I can, because this is exactly the kind of knowledge that can give them an edge to stand out from the crowd.’

Work Integrated Learning (WIL) opportunities place students in organisations, giving them the opportunity to apply their theoretical knowledge in a real industry environment. After graduation, many of our students are employed by their WIL employer.

This post was originally published on the NEST blog.

Professor Muhammad Yunus’s visit to the LBS Yunus Centre to be broadcast on Channel 31 on July 24th!

On 7 April 2017, Professor Muhammad Yunus visited La Trobe University. In a ceremony held at La Trobe’s Hoogenraad Lecture Theatre, Professor Yunus received an Honorary Doctorate from Vice-Chancellor Professor John Dewar and officially opened the Yunus Social Business Centre at La Trobe Business School.

On 24 July 2017 at 8.30pm, a recording of this significant honorary doctorate ceremony and address will be broadcast on Channel 31. The ceremony, recorded in two parts, will also be available for streaming on the channel’s online platform, C31 online (available via the Channel 31 website).

The three zeroes         

Professor Muhammad Yunus is widely known for his progressive theories surrounding microcredit and for founding Grameen Bank, an innovative institution which has enabled impoverished entrepreneurs to access an affordable loan scheme and start a business.

Through social business, Professor Dr Yunus has set out to create a world with three zeroes: zero poverty, zero unemployment and zero carbon emissions through social business. “All humans are entrepreneurs,” Dr Yunus said during his presentation. “If you can think of a problem to solve through a business you can set up that can get five people out of welfare, your effort is already worth it.”

Attendees to the invite-only event included of key stakeholders included the La Trobe Business School staff, members of the business community, stakeholders and collaborators of the LBS Yunus Social Business Centre, and the La Trobe Asia community.

Programme details

Date: 24 July 2017

Programme time: 8.30pm

Platform: Channel 31, on television and online.

Regional brain drain worsens

An Australian-first study has revealed regional students across every state and territory are turning to metropolitan universities at an unprecedented rate.

The new study, funded by the National Centre for Student Equity in Higher Education (NCSEHE) at Curtin University, and led by La Trobe University researchers, LBS’s Dr Buly Cardak and Matt Brett and Dr Mark Bowden of Swinburne University, shows the number of regional students across Australia moving to a city location to study increased by more than 76% between 2008 and 2014.

“We found the growth in regional students relocating to metropolitan universities far outstrips growth of regional students taking up higher education places in either their home town or another regional location. However, regional students studying in regional locations are still a majority, and are attracted to a small number of larger regional centres,” La Trobe Business School’s Associate Professor Buly Cardak said.

“This growth was particularly strong with more flexible modes of study. We found mature aged students, students with disabilities, or those wanting to study part-time are increasingly turning to city campuses.”

The researchers used enrollment data drawn from the Department of Education and Training from 2008-2014 which uniquely classifies students as regional based on their residential location when they started university.

“Previous information only accounted for students’ current home addresses. Using this new information we can see that the number of regional students enrolling in university has grown by almost 39% over this period.”

“This is in stark comparison to the conventional wisdom based on existing data, which shows the growth rate in regional student numbers is slightly lower than the rate of growth in metropolitan student numbers”

The report also indicated that regional students likely to face financial constraints are no less likely to attend university, and are instead displaying a greater likelihood of graduation.

“Our findings turn a lot of commonly held perceptions about regional students on their head, and is likely to have significant implications for the sector.”

“For example, how might the Government prioritise funding allocations, now that we know an increasing number of regional students are instead choosing metropolitan campuses? Do they invest more in the city, providing infrastructure and support for migrating students or do they increase incentives for students to stay in or return to regional locations where skilled graduates are in short supply?”

NCSEHE Director Professor Sue Trinidad said the report offers a new perspective on regional participation and paves the way for future discussion and policy advancements.

“The findings of this report are positive. It provides an evidence base for what is really happening with regional students accessing higher education. The issue now is the challenge of attracting graduates back to our regional areas, and the associated policy implications,” Professor Trinidad said.

The report, Regional student Participation and Migration, is available from the NCSEHE website.

Editor’s note:

The NCSEHE aims to inform public policy design and implementation and institutional practice to improve the higher education participation and success for marginalised and disadvantaged people.

La Trobe University is Victoria’s third oldest University. Established in 1971 it is now firmly entrenched in the world’s top 400 universities. It currently has more than 36,000 students and is the largest provider of higher education in regional Victoria.

 

LBS Sport Management students hit goals at International Festival of Hockey

By Emma Sherry

La Trobe University is proud to be the number one University for sport in Australia. Two key undergraduate programs within the La Trobe sport course offerings are delivered by LBS, and are the Bachelor of Business (Sport Management) at our Melbourne campus and the Bachelor of Business (Sport Development and Management) at our Bendigo campus.  A third key program, at the postgraduate level and delivered by LBS, is the Master of Management (Sport Management).

Sport is a rapidly growing and significant global industry offering a range of career opportunities. Our degrees are designed and delivered in collaboration with industry professionals. These courses combine business foundations with essential sport-specific knowledge and skills. We offer valuable placement and network opportunities and exposure to potential areas of employment.

In the undergraduate degrees, in addition to work integrated learning experiences through our Sport Practicum subject, sport management students at both campuses are provided with opportunities to volunteer at a variety of sport and active recreation events and activities during their time as a student. Students have volunteered at Melbourne City, Melbourne Rebels and most recently with Hockey Australia for the International Festival of Hockey. Students are required to apply formally for these opportunities and through this process develop their CV writing and interview experience. This process also ensures that the sport organisations receive the very best student candidates for these valuable volunteer placements.

Two students, Tianna (Bendigo) and Sam (Bundoora) (pictured above) have been volunteering with Hockey Australia this year, culminating in the festival held in Bendigo on November 19th. Ben Hartung, the General Manager – Hockey, noted that “Sam and Tianna, our two brilliant interns, are working at the International Festival of Hockey … They are both playing keys roles in the organisation of the Festival components in Melbourne and Bendigo and they have been embraced by the entire Hockey Australia team. We are very lucky to have them as part of our team”.

The International Festival of Hockey is a fun-filled family event that saw Australia’s home favourites, the iconic Kookaburras and Hockeyroos, take on some of their biggest international rivals, India, Malaysia and New Zealand. Hot off the back of their Olympic Games campaign, the Australian men’s team – the Kookaburras – host India, Malaysia and New Zealand in a four nations competition in Melbourne before taking on India in two further test matches in Bendigo. Also playing in Australia for the first time since the Olympics, the Hockeyroos – the women’s team – go head-to-head against India in three test matches in Melbourne.

The sport management programs at La Trobe University pride ourselves on creating engaged and work-ready graduates. By providing more opportunities for students, outside of their formal education, the program ensure that our students are best placed to build their CV during their time with us and to gain employment on completion of their studies.

 

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