New Mental Health Training for Accountants and Bookkeepers Has Been Officially Launched
The Counting on U Program, is a brand new mental health initiative which has been made freely available to members of Chartered Accountants Australia and New Zealand, the Institute of Public Accountants, CPA Australia and the Institute of Certified Bookkeepers, is now open for registration after a successful pilot phase took place in February. It […]
Job Vacancies in Australia Hit Record Levels as JobKeeper Ends
Australia’s national jobs market appears to be in a strong position to take up many of the 1 million Australians who have recently come off the federal governments JobKeeper wage subsidy program. The Australian Bureau of Statistics (ABS) revealed that at the end of March 2021 there was approximately 289,000 vacant jobs across Australia in […]
Advice to Help Businesses Impacted By Floods Minimise Their Financial Hardship
Chartered Accountants Australia and New Zealand (CA ANZ) has announced a new checklist to support small businesses who have been affected by the recent flooding to occur in the east coast of Australia. This checklist has been created to help reduce the amount of financial hardship small businesses endure as they look to recover from the […]
The ATO Is Pursuing $172 Billion in Undeclared Contractor Income
The Australian Tax Office (ATO) has been tracing payments to contractors via the data from its taxable payments reporting system (TPRS). It is estimated that over 60,000 Australian business are yet to lodge TPARs for the 2019-20 financial year. The ATO has advised Australian businesses to come clean on the $172 billion worth of payments […]
The ATO Raises Key Rates For Australians Wanting To Top Up Their Superannuation
The Australian Tax Office (ATO) has decided to increase some of the key rates and thresholds for people who are wanting to top up their superannuation. On 1st July 2021, concessional and non-concessional contribution caps and the general transfer balance cap will increase for the first time in four years. Under the current laws, employers […]
The Impact Ending JobKeeper Will Have On the Unemployed
In Australia one entry-level job is advertised for every 48 people who are relying on JobSeeker payments. Now that JobKeeper has been discontinued and thousands of Australians are at risk of losing their jobs the competition for these highly sort after new employment opportunities has risen significantly. There are eight people who receive the JobSeeker […]
Youth Unemployment in Australia During the Covid-19 Pandemic
Over 870,000 Australians lost their jobs during the first few months of the covid-19 pandemic. Around 38% or 332,200 of these Australian workers were young Australian aged between 15 and 24. By June 2020, as Australia’s overall unemployment rate hit 7.4%, the youth unemployment rate jumped to 16.4%, with a further 19.7% underemployed. An underemployed […]
The Tax Consequences for Business Events Ahead of Trans-Tasman Travel Bubble
On Monday 19th April 2021 the Australian and New Zealand federal governments plan to lift international border restrictions between the two countries. As a result of the travel ban coming to an end corporate events will become a more frequent occurrence “extravagant” corporate events are likely to pique the interest of the Australian Tax Office. Australian […]
Small Business Revenue Has Bounced Back To Pre-Pandemic Levels
Fresh data released by Xero revealed that small businesses in February recorded their ninth consecutive month of revenue growth. This data also illustrated that revenue growth for Australian small businesses in February was up 4 percentage points since January. Small Business revenue increased by 5.1 percent in February following a 1 percent rise in January […]
Working From Home Benefits during the Covid-19 Pandemic
It is important for Australian employers to be aware of their Fringe Benefits Tax (FBT) obligations when employees are provided with benefits to assist them when they are working from home during the covid-19 pandemic. As an employer you might have given or loaned specific eligible work related items to your employee in order to […]
