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The Federal Treasurer Josh Frydenberg delivered the Australian Budget 2021-22 on 11 May 2021. This budget aims to create jobs, develop infrastructure, guarantee services and provide confidence to Australian businesses.We are delighted to bring highlights of the budget that will impact the business a ...
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Mortgage is a type of loan where a real estate is been used as a collateral. Typically, it is used to finance a home (owner occupied) or an investment property. The borrower pays an initial deposit which normally varies from 10% to 20%. The mortgage in Australia is set up for 30 years. The borrower ...
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JobKeeper helped in keeping the Australian economy afloat at the time when many Australian businesses were bleak due to Covid19.JobKeeper initially gave businesses $1,500 per fortnight per employee to help pay the wages. At one stage, almost a third of Australian workers were on JobKeeper.With ATO e ...
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 Taxation Ruling TR 2021/1 : Deductibility of employee transport expenses:On 17th Feb 2021 The ATO has released Taxation Ruling TR 2021/1 on the deductibility of employee transport expenses.An employee can only deduct a transport expense under section 8-1 to the extent that:They incur th ...
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The first home super saver scheme , commonly abbreviated as FHSS allows eligible first time home buyers to voluntarily contribute to superannuation and withdraw an amount (plus earnings and less tax) to buy a first home.Eligibility for the FHSS Scheme :Individual at least 18 years oldHave never owne ...
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The market for advice is shifting in many ways post 2020. Recently released research shows about four out of ten Australians will seek financial advice over the next 12 months. Government is implementing further Financial sector reforms to strengthen the financial advice and provide consumers with b ...
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Extension to COVID-19 SupplementsThe benefit of COVID-19 Supplements will be extended up to 31st March 2021.This will be paid at $150/fortnight (previously $250/fortnight) to recipients of Job Seeker payment, Parenting payment, Youth Allowance, Au study payment, Special Benefit, Widow Allowan ...
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The much-awaited reforms in the Insolvency framework is now in place in what is perceived as a significant step in keeping Australian businesses and jobs in place, as the COVID relief measures ease out.The purpose of the Corporations Amendment (Corporate Insolvency Reforms) Bill 2020 is to implement ...
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Accounting inherently works with a lot of data and repeatable, rule-based, structured processes that make them the perfect soil for introducing Robotic Process Automation (RPA) to it.Apart from the technical help, RPA has an indirect effect on the workforce’s overall well-being, as the repetiti ...
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As several countries make their way through and eventually out of the coronavirus pandemic, the opportunities and responsibilities that Accountants bear could get more diverse than ever.Accountants through their professional expertise are perceived as leaders building and implementing strategies to ...
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