Tip Tuesday: Questions to ask before becoming a Franchisee

Franchises are built on proven concepts, with market-tested products, and they often come with business systems that make admin straightforward. There’s a lot to like. But there are also risks to consider. Here’s how to check if a franchise is right for you. Franchise reality check A good franchise can take some of the guesswork…
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Latest update from the ATO – Single Touch Payroll (STP), Are you Ready?

John Shepherd, Assistant Commissioner, Australian Taxation Office delves into some of the finer detail ahead of the 1 July move to Single Touch Payroll (STP), a change to the way larger employers report tax and super to the ATO. The 1 July start for Single Touch Payroll (STP) is fast approaching, and all larger employers,…
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Retiree spending drops faster than predicted

The latest analysis into retirement trends has revealed the financial services industry may have underestimated the dramatic falloff in retiree spending as they age. The Milliman “Retirement Expectations and Spending Profiles” analysis, which used real world expenditure data, found the median retired couple’s expenditure falls by more than 36.7 per cent as they move from…
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Introduction of Digital Currency Exchange Register: Cryptocurrency Tax Tracking

  New requirements for digital currency exchange providers will give further transparency to the regulators about trades and tax obligations of Australians investing in cryptocurrency.  Rules that came into effect yesterday mean that cryptocurrency exchanges will need to sign up to a new Digital Currency Exchange Register, and transactions exceeding $10,000 must be reported to AUSTRAC in…
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