Protect your firm from the effects of a cyber breach.

It is becoming increasingly apparent that it is no longer a case of if, but when you may become a victim of cybercrime. Close to 10 million individuals around Australia have been impacted by the recent Optus data leak.  It’s a demonstration of how a data breach can happen so suddenly…

Do More Australians Prefer to Work from Home?

The pandemic pushed many businesses to adopt work-from-home formulas that would enable them to keep operations running while employees got to reduce their risk of exposure to the virus. As the pandemic winds down, businesses are seeking to have their employees return to full-time office attendance, though enthusiasm for this…

Wage Theft Prompts Government Action

A recent senate inquiry found that the country was grappling with a serious problem of unlawful non- and underpayment of employee remuneration by employers. The senate committee termed the situation as “systemic, sustained and shameful”. During the recently held Jobs and Skills Summit, the federal government reaffirmed its commitment to…

Payment Delays Costing Small Businesses $1.1bn A Year

According to a recent report prepared by Accenture and Xero, Australian small businesses are faced with cash flow problems due to three key reasons of delayed payments, seasonal slowdowns, and rising expenses. Following a review of data from more than 200,000 businesses in Australia, New Zealand and the UK, these…

Record High Demand for Accounting Professionals

Australia is facing a skills shortage as the number of vacancies in the accounting sector continues to grow. There are currently an estimated 9,000 vacancies for accountants, with thousands more of a shortage in other sectors including nursing, disability care, and retail. Overall, employers are struggling to find suitable workers…

Accounting Sector Amongst Top Wage Growth Earners

Data from the Australian Bureau of Statistics (ABS) confirms the seasonally-adjusted wage price index, or WPI, rose by 0.7% as of the June quarter, for the third consecutive quarter. The professional services segment, which includes accounting professionals, saw wages rise by 2.9%. This is one of the highest increases in…

TPB Launches New Corporate Plan

The Tax Practitioners Board (TPB) has launched its new Corporate Plan for 2022-23. The plan is aimed at helping ensure that consumers of tax practitioner services enjoy excellent service. It also seeks to build more trust with the community in the tax profession and boost the integrity of the tax…

RBA Hikes Interest Rates To 1.85 percent

Governor of the Reserve Bank of Australia (RBA), Philip Lowe, has announced that the cash rate target has been increased by 50 basis points to 1.85%. This is the fourth consecutive month in which the cash rate has been increased. In June and July, the rate was similarly increased by…

SMEs Driven To Insolvency By Skills Shortage

With the country facing a severe skills shortage, more and more businesses are being driven into insolvency. This is happening across the economy, from start-ups to long-established companies. The SME segment has been identified as the hardest hit by this situation. Businesses operating in the hospitability industry were highlighted as…

Higher Tax Bills for Queensland’s Interstate Landowners

Changes to Queensland tax rules will now see landowners with landholdings in other parts of the country have their land tax bill increase from 30 June 2023. The proposed changes that were flagged in December 2021 and have already been included in the most recent state budget, have been termed…