Australian Share Market Suffers After RBA‘s Latest Statement

The Australian share market saw a reversal of recent gains after a statement from the Reserve Bank of Australia (RBA). The statement said that inflation is likely to remain at 3.5 per cent for longer than expected, with previous forecasts expecting it to drop to 3.25 per cent by the…

ASX Climbs After News on Rates From the US Fed

The good news came after the US Federal Reserve held interest rate levels as they are, helping to ensure investors that they are beginning to get a grip on inflation. The news from America helped the S & P/ASX200 climb by 0.9 percent, reaching 6,899.7 points. All Ordinaries also saw…

Celebrating 20 years of supporting accounting professionals in Australia

By Roman Kaczynski Director, Accountancy Insurance What began as an accountant’s solution to assist an insurance broker in crafting a commendable, yet cumbersome product has evolved over two decades into a user-friendly solution.  Accountancy Insurance now stands as the foremost provider in its category, successfully operating in three countries and…

Australian Unemployment Rates Fall To 3.6 percent

This follows on from news in August that the number of job vacancies stood at 390,000 from approximately 428,000 the previous month. This welcome update had marginally outperformed expectations as unemployment rates were expected to stay as they were. The States with the lowest unemployment levels were Western Australia (WA)…

Victoria’s New Land Tax Raises Concern

Victoria has introduced several new land tax changes and hikes that some experts warn could cause an investor exodus. Financial and real estate experts are concerned that with the changes being introduced by Premier Jacinta Allan, investors may opt to invest their capital in more favourable jurisdictions. Amongst the key…

Directors Advised to Make Cyber Security A Priority

Company directors and boards have been put on notice by the Australian Securities and Investment Commission (ASIC) over concerns surrounding cyber preparedness. Speaking at the Australian Financial Review Cyber Summit, ASIC chair, Joe Longo, has warned that failure to adequately handle cyber security risks could result in directors being considered…

ATO Shines Spotlight on Rental Claims

The Australian Tax Office (ATO), is cautioning rental property owners and their tax agents to be more vigilant when it comes to filing their tax returns to avoid penalties. This is due to an earlier review of tax returns indicating that as much as nine out of 10 rental property…

Reactivated Debts Cut Tax Refunds

In an unexpected move, the Australian Tax Office (ATO) has reportedly reactivated historic debts that were placed on hold during the pandemic and 2020 bushfires. About 300,000 affected Australians will consequently receive zero or reduced tax refunds from their latest filings. An ATO spokesperson confirmed that the value of on-hold…

Government Undertakes Franchising Code Review

The government is set to undertake a review of the Franchising Code of Conduct and its impact on fairness and competition in the sector. The regulatory framework has been amended a number of times since its introduction in 1998, including more recent changes made following recommendations from a joint committee…