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Upskilling Australia
The Budget highlights the government’s commitment to getting people back in jobs and upskilling Australians. The JobTrainer Fund which falls under the JobMaker Plan will support up to 340,700 free or low-fee training places in areas needed to help upskill and retrain job seekers and young people. The government will provide exemptions for employer-provided retraining…
Lower taxes for businesses and individuals
The Budget seeks to promote tax reform and simplification in an effort to support business investment and help reduce the personal income tax burden. Business Businesses are encouraged to invest with the introduction of temporary full expensing. Businesses with turnover up to $5 billion will be able to deduct the full cost of eligible depreciable…
Changes to the super system
The Budget seeks to address various shortcomings in the superannuation system Unintended multiple accounts One of the consequences of changing employers is the creation of multiple accounts. These result in unnecessary fees, and reduce retirement savings. Under the Budget, the proposal is that individual’s super is ‘stapled’ to them. Stapling means that the individual keeps…
Changing your Accountancy firm is the last thing you should do!
Actually, nothing could be further from the truth. If your business is growing or anticipating growth and your existing accountancy firm cannot provide the level of service you need to support that growth, you should definitely consider switching to a firm that can. Are you receiving proactive strategic advice on growing your business? Do you…