The great wealth transfer from the baby boomer generation has begun and home ownership is the catalyst. The average price of a home in NSW is $1,184,500, the highest in the country. Canberra is next at $948,500, followed by Victoria at $895,000, with the Northern Territory the lowest at $489,2001. With the target cash rate
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The key influences of 2024 Uncertainty has reigned over the last few years, but can we expect more consistency as we head into 2024? We explore some of the key issues and influences. Inflation and labour supply RBA Governor Michelle Bullock stated, “Inflation is past its peak and heading in the right direction, but it
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SEPTEMBER 23 NEWS UPDATE Click here for PDF The Billion Dollar TikTok Scandal $1.7 billion paid out in fraudulent refunds, another $2.7bn in fraudulent claims stopped, around 56,000 alleged perpetrators and over 100 arrests to date. How did the TikTok tax scandal get out of control? “Everyone else got refunds, it’s OK, it’s just a
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Unfortunately, society still has a long way to go when it comes to financial equality. In fact, women still earn 17.4% less than men. So, as a woman, it is important to make the most of your money. And to do this, you need to mast the basics of financial management. By building good financial
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Did you know there is another way for your business to make more money? Even with the same customers, same level of physical sales, same systems, and no extra staff or overhead costs? While many business owners think you need to increase sales substantially to make more money, that is often difficult in the short
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While you might submit honest and detailed declarations, taxpayers can still be selected for a tax audit or review from the ATO. Even a quick audit can take around 28 days. In the worst-case scenario it can take 3-4 years to complete a complex audit. The audit process can involve face to face meetings as
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When you do your own taxes, as a small business, you can often fall into old habits when it comes to doing your taxes. Which means you aren’t taking advantage of some of the most recent, or less obvious, ATO tax deductions. These can help minimise your take at the end of the financial year.
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Many business owners think that their accountant can do both accounting and financial planning. However, the two roles complement each other, meaning neither professional can do the entire job of the other. A financial planner may know some pretty intricate tax planning ideas and strategies, but an accountant knows how to get the most of
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