Insights on AI, tax research, learning and the future of accounting.

This June is unlike most. The 2026 Budget has upended trust and company planning in ways that won't fully resolve until legislation is passed. AML/CTF obligations arrive on 1 July. The TPB has issued new guidance on AI. And the Bendel decision is still being worked through. Jimmy McPhedran, co-founder of Elfworks and a tax professional with 26 years of experience, sat down with Accountants Daily this week to work through the specific questions practitioners are facing right n

Australian accountants are suddenly the happy beneficiaries of a brand-new suite of AI tax research tools. This new wave of platforms promises to drastically lessen the workload of practitioners by offering research and advice-drafting solutions plugged into verified tax databases, outperforming generic models like Copilot, ChatGPT, or Claude. Yet beneath the excitement of this new wave of productivity, a critical question is emerging. While many firms are enjoying the heavy-

Year-end tax planning season always requires heavy amounts of preparation, scenario planning and decision coaxing followed by detailed documentation and good old fashion nagging (for return documents etc). For the rest of May and June 2026, these meetings also require an explanation of the 2026 Budget announcements and how these are likely to impact your clients. Elfworks has launched the first wave of AI Agents, designed to safely and securely help take the load off accoun

Elfworks gives you better answers, less waste: Working smarter with multiple AI models

“I’ll just use AI for this.” It’s a phrase echoed in accounting firms across Australia every day. What started as an interesting plaything has rapidly become a necessary tool for servicing clients in a high-pressure environment. But here is the reality: the moment you decide to use AI, the Tax Agent Code of Professional Conduct enters the room. Failure to understand how these tools handle data and failing to get proper client consent could put you in direct breach of yo

A bright, ambitious recent graduate—let's call him Sam—walks into your office for his final interview. He's spent the last few years of his degree using AI for research, case law analysis and assignment drafting. He doesn't just "know" AI; it's his co-pilot. You're showing Sam around, explaining your processes — you've recently (three years ago) upgraded to cloud-based portals, you use some basic automation tools, and you're "definitely looking at AI" in the coming years. You

AI agents will deliver a ‘wow’ moment like your first experience of the iPod or iPhone or the first email you thumbed-out via Blackberry in the late noughties (at least everyone reading knows what an iPhone is). However, the experience will be different with the AI agent. Instead of the new tool being for enjoyment, communication, or a clear aid to make you more efficient in your job, this ‘wow’ moment will be coupled with the thought: I can see the time-consuming work taken

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