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The big four

August 2018



Deloitte extends retirement age 

Deloitte Australia is allowing its partners to work beyond the age of 62. While the firm’s unofficial policy requires partners to retire upon reaching that age, its new Chief Executive Officer Richard Deutsch told the Financial Review: “My personal view is it’s about energy and I have no issue with us having partners working beyond 62.” A Deloitte Australia spokesperson said that while the firm does not have a retirement age for employees or partners in Deloitte, there are no partners over the age of 62. 


PwC creates tool to detect fake steaks

PwC has developed an invisible barcode technology that aims to tackle food fraud. Consumers of beef will be able to scan the barcode and get information about the origins of the meat they are buying through their smartphone. The firm is set to launch the detector in Australia and China over the next year, following a trial with Australian beef producer Vic’s Premium Quality Meat. Slices of beef will be sprayed in the slaughterhouse with very fine particles of silicon dioxide, which acts as an edible barcode tag. 


Wildfire victims to quality for tax relief

Victims or those affected by the wildfires that ripped through California since late July, may qualify for a tax relief from the Internal Revenue Service (IRS). The IRS said affected taxpayers who reside or have a business in Shasta County, one of the worst-hit areas of the fires, may qualify for tax relief of up to four months. As of 20 August, a total of 5,511 fires had burned an area of 4,228 square kilometres, according to the California Department of Forestry. The IRS provided the same four-month relief period in response to the wildfires in 2017, which burned a total of 5,590 square kilometres of land. 


Sean Connery paid accountant in suits

EON Productions, the British film production company behind the James Bond film series, claimed last month that film star Sean Connery paid his accountant in Bond movie suits. Meg Simmonds, archivist for the production company, told the Daily Express in the United Kingdom that the actor kept all suits he had requested for himself. EON had to buy back the costumes over the years, and during an auction for a coat Connery wore in Dr. No, Simmonds found that the vendor could have been Connery’s accountant. “So I thought, ‘So he paid his accountant with costumes’,” said Simmonds.