In the recent federal budget the Government has committed to real time super in a bid to curb the billions of dollars lost in unpaid employee super. When businesses underpay workers in any form it’s labelled as wage theft. It could be a deliberate deed, an unintended error, or a consequence of the complexity of […]
In a recent announcement the Australian Taxation Office have energetically orated that they have “refreshed” the way that taxpayers claim deductions for costs incurred when working from home. At times I refresh my glass of tepid wine with some cold stuff. I feel refreshed after a shower, and I occasionally freshen up the smelly bin […]
In May last year, the Reserve Bank of Australia (RBA) lifted interest rates for the first time in over 11 years. This was something that many of the current generation had not experienced until then. The decision to lift rates was made to counter increasing inflation – meaning costs were rising faster than wages. Mild […]
Hands up who’s heard of the Small Business Hardship Grant program? No one? Well, that’s not surprising as the State Government doesn’t seem to be making a heap of noise about it. But it’s a really big deal. Here’s why. The WA Government is providing grants of between $3,750 and $50,000 for businesses impacted by […]
The super guarantee system, where employers now contribute 10% of wages to super for their employees has been largely successful in providing better retirement incomes for working Australians since its 1992 introduction. It’s also had its fair share of problems, one of those being that employees end up with multiple super accounts (there’s currently around […]
“We make a living by what we get. We make a life by what we give.” Wise and inspirational words from Winston Churchill. Around four million taxpayers each year make almost $4 billion of tax-deductible donations to various charities around the country. West Australians top the list for the average amount of donation per person. […]
The recent lockdown was another timely reminder for WA businesses that we live in a very uncertain business environment. With the full lockdown only lasting three days it seems that we once again dodged a bullet. But our luck might run out, and if it’s not because of COVID, it will because of the next […]
GST recently reached the ripe old age of twenty. Hip-hip hooray. I remember its birth well. First of July 2000. Actually, the recent COVID-19 stimulus measures reminded me of the introduction of GST, albeit that GST was implemented in a more controlled and measured fashion. As accountants we had no experience to draw on, and […]
As part of the stimulus package to deal with the economic impacts of COVID-19, the Federal Government created a scheme to access your super early. The scheme allowed people who have suffered financially to access their super in two hits – one of up to $10,000 by 30 June 2020, and another of up to […]
A recently released index saw business confidence in April rebound from its record low base in March. Although confidence is still down, the uptick is a sure reflection of the effectiveness of the JobKeeper and other stimulus announcements in giving businesses the best chance of their COVID recovery and ultimate survival. With our current health […]
Francis A Jones
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