How to avoid getting dodgy advice
Be wary of untrustworthy advice recommending inappropriate or illegal behaviour The ATO has warned taxpayers who may be thinking about pausing, changing or closing their business, due to the current economic conditions. This could include illegal phoenix activity, where businesses intentionally remove their assets prior to winding up so that they can be used in […]
From the desk of Justin Flavel, Spring 2020
The business market is extremely odd; some industries definitely need the extended JobKeeper payment whilst others are having record months. It has been a challenging period for all over the last 6 months and we believe it is going to be an unstable environment for many months still to come. If your business has not […]
JobTrainer skills package announced
COVID-19 business recovery The Australian Government will invest $2 billion to give hundreds of thousands of Australians access to new skills by retraining and upskilling them into sectors with job opportunities, as the economy recovers from COVID-19. In partnership with the states and territories, more Australians will have access to free, or low cost, training […]
Coronavirus: Government announces new tax measures
ATO’s support measures to assist those affected by COVID-19 The Government has announced a number of economic responses to the Coronavirus (or ‘COVID-19’) pandemic, including economic stimulus packages worth billions of dollars. Some of the key tax measures include: From Thursday 12 March 2020, the instant asset write-off threshold has been increased from $30,000 (for […]
Coronavirus Economic Stimulus Package UPDATE
Supporting Australian workers and business The Commonwealth Government has released the second stage of its stimulus plan to cushion the economic impact of the coronavirus and help build a bridge to recovery. A total of $189 billion is being injected into the economy by all arms of Government in order to keep Australians in work […]
Minimum Wage Decision
National Minimum Wage increase The Fair Work Commission’s Minimum Wage Panel (“Panel”) has this week handed down its minimum wage decision which increased the National Minimum Wage, together with all Modern Award minimum rates of pay, by 3.0%. The Panel considered the current economic environment and reasoned that economic indicators now point to a healthy […]
What factors make certain investments more expensive?
Why some investments cost more than others People are sometimes unsure why different investment types cost more to manage than others. There can be several reasons for this. Let’s look at some of the main ones. When deciding what to invest in, there are three main factors you should consider: The expected return you need to […]
Cashless society
Is cash set to become a thing of the past? Some financial professionals are predicting Australians could be living in a cashless society in less than a decade. What does the potential death of cash mean for you personally and for Australian society as a whole? We explore the current trends in consumer payment behaviour […]
Mid-Year Economic and Fiscal Outlook
MYEFO report Mid-Year Economic and Fiscal Outlook (‘MYEFO’) report recently released. It indicates that the underlying Budget deficit is expected to be $5.2 billion in 2019 (down from the $14.5 billion deficit estimated in the 2018/19 Federal Budget). The substantial deficit reduction is reportedly a result of increased tax collections, with individual tax collections up […]