The Fair Work Commission has announced a 3% increase to minimum wages effective from the first full pay period on or after 1 July 2019. The new national minimum wage across Australia will be $740.80 per week or $19.49 per hour. The 3% increase applies to those employees under a Modern Award or those not [...]
Be aware that 30 June 2019 is a Sunday so review your tax affairs now and consider making strategic decisions for your business. Always ensure that you consider the cash flow impacts to your business and if the new assets/expenses are prudent business strategies. If you are considering the expenditures, then timing in June versus [...]
Your superannuation policy update in preparation for the end of the financial year With the re-election of the Coalition government, there is hope in the industry that a policy of stability for superannuation will prevail. This will allow you to focus on managing your financial needs rather than worrying about changing rules. Before the election, the [...]
A common practice in the industry is for individuals with an SMSF (primary superannuation fund) to also maintain an account with an industry or retail (APRA-regulated) superannuation fund. This secondary account holds an insurance policy on their behalf and the decision to maintain both accounts is made for two primary reasons: 1. Cost – individuals [...]
