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Latest update from the ATO – Single Touch Payroll (STP), Are you Ready?

Emma Zajac
General, Information, Insight, Small Business
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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

Emma Zajac
Insight, Self-Managed Super Fund, Spending
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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

Emma Zajac
Information, Insight, Money Talk
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  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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Instant Money Transfers with New Banking Technology

Emma Zajac
Information, Insight, Money Talk
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Terry Millet, Chief executive office of Newcastle Permanent, advertised new payment services which launched earlier this year and will forever change how Australians make electronic payments and handle money. You may not have heard much about these new services—Osko by BPAY and PayID—as not all financial institutions, including three of the four major banks, have fully…
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The Rise of Bitcoin and SMSF Investment Strategies

Emma Zajac
Information, Insight, Money Talk, Self-Managed Super Fund
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With the meteoric rise of bitcoin over the past year, popular interest in it and other digital currencies has grown exponentially. The SMSF community too has been very interested, with a growing number of trustees branching out to include digital currencies in their investment strategies. SMSFs are the only vehicle through which investors can include…
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