Market Wrap

Each month we publish Market Wrap, a summary of the previous month’s economic highlights. Economic Overview October 2021 Investors remained focused on rising inflation and the possibility of policy settings being tightened worldwide. Bond yields continued to rise – particularly in Australia – as investors brought forward their expectations for interest rate hikes. This hampered returns from fixed income markets. Equity markets performed much more strongly, aided by the release of…  Read more

Understanding Australia’s Director Identification Number

Business directors to obtain compulsory director ID number from November. In its 2020 Budget Digital Business Plan, the Australian government announced the full implementation of the Modernising Business Registers (MBR) program. The program is designed to both establish the new Australian Business Registry Services (ABRS), and enhance how businesses register and manage their information with the government. Although the ABRS rolls out progressively between 2021 and 2024, one of the…  Read more

New stapled super fund employer obligation

From 1 November 2021, if you have a new employee start, there is now an extra step to comply with if they don’t choose a super fund. Previously when your employee did not choose a superfund, you were required to pay their super to the default superfund. From 1 November, this is changing. If your employee does not choose a superfund, you will be required to check with the ATO…  Read more

Change to Fair Work Act: Casual Employment Reform

The Fair Work Act has recently been amended to change the workplace rights of casual employees. It is important that employers review the new rules, understand the new employer obligations and ensure compliance. Casual employee definition A person is a casual employee if they accept an offer for a job from an employer knowing that there is no firm advance commitment to ongoing work with an agreed pattern of work.…  Read more

Live your today. Plan your tomorrow.

The Financial Planning Association (FPA) recently released a research report providing a snapshot of the money and life issues Australians are facing 18 months since the COVID-19 pandemic started. The COVID-19 pandemic has been a defining event for this generation. People’s livelihoods, social habits and outlook have been irrevocably changed. In Australia, the pandemic has served as a wake-up call to many Australians about how they manage their finances and…  Read more

Audit Insurance

Tax Audit Insurance protects a business from unexpected costs incurred in the event that it is selected by the Australian Tax Office (ATO) for compliance auditing. An audit insurance policy covers the costs of accountants, other professional fees and associated costs incurred in the course of an audit. Increasingly, the ATO are focusing on small to medium businesses and individuals, particularly those with more complex affairs such as trusts, self…  Read more

Get more financial tips, strategies and ideas delivered direct to you.

Subscribe now