Jacobs departs
One of IOOF's senior management team, Tony Jacobs, has left the company after the group decided to outsource its taxation advice.
One of IOOF's senior management team, Tony Jacobs, has left the company after the group decided to outsource its taxation advice.
Jacobs was the group taxation manager and has been retained as a consultant. He has formed his own taxation consultancy, with a client base that includes the Australian Friendly Societies Association.
"The restructure involved outsourcing IOOF's tax resources, which I supported, with future tax support services being provided by internal accounting staff and supporting external tax consultants," Jacobs says. "This move is designed to shift in-house fixed costs to external variable costs, to help manage operating expenses."
Jacobs was at IOOF for 13 years, joining initially as an accountant and forming the group taxation department in 1991.
Jacobs intends to use his experience to provide advice on taxation issues af-fecting the financial services industry, especially with GST implementation looming.
"There will be a lot of twists and turns involving GST and the financial serv-ices industry," he says.
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