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Last week, a range of employment law changes under the Fair Work Legislation Amendment (known as the Closing Loopholes No. 2) came into effect that all employers need to be across. The below summarises the key changes effective from 26 August 2024. Right to Disconnect The new employee right to disconnect has garnered...
We’ve all heard the rule of thumb about property being a long-term investment. Well, get this: many home owners have seen the value of their property quintuple within the timeframe of a typical 30-year mortgage. Ask any long-term home owner what they originally paid for their property, and chances are they’ll respond with an eye-wateringly...
The sun is out – and so are the buyers! Spring is traditionally a peak period for property, and there’s a good reason why spring 2024 is shaping up to be a bumper season. Here’s how to prepare if you’re planning to buy in the weeks ahead. At last! It’s time to pack away the...
We all have a few financial goals. And right now, investing in a rental property is one of the more popular investment goals among Australians. In fact, more than one-in-five Australians (21%) aspire to own investment properties to build their wealth, according to MLC’s Financial Freedom report. And interestingly, this percentage increases to 27% for Gen...
The latest inflation figures have brought some much-needed respite for homebuyers and homeowners alike. The Reserve Bank of Australia (RBA) has been closely monitoring inflation trends, and the recent data indicates that while inflation remains sticky, it’s not high enough to necessitate an immediate rate hike. Understanding the Current Inflation Landscape According to the Australian...
If you manage a self managed superannuation fund (SMSF), recent changes to tax rules for certain fund expenses could affect you. These changes may even apply to services provided for free. If your fund doesn’t pay market price for services, it could face significant extra tax. The new rules focus on “non-arm’s length general expenses”...
The new financial year has begun, and with it have come some important changes to superannuation from 1 July 2024. With these changes coming into effect, it’s a good time to give your super a check-up. Your super could be one of the biggest assets you ever have, so getting into the habit of checking in...
If your business owns or leases a vehicle that’s used for business purposes, it’s essential to keep proper records to ensure you’re entitled to the maximum deduction for your vehicle expenses. Running costs like fuel and oil, repairs, servicing, insurance premiums and registration are all potentially claimable, as well as interest payments on a loan...
Have you made charitable gifts or donations in the past financial year? The good news is these items are often deductible, giving many Australians a welcome boost to their tax refund. Make sure you know the rules this tax time. When gathering your donation receipts, it’s important to understand what can and can’t be claimed...
In recent years, the financial landscape in Australia has been significantly transformed by the advent of buy now, pay later (BNPL) services. These innovative credit products have provided consumers with a convenient and often cheaper alternative to traditional credit forms such as credit cards, small amount credit contracts and consumer leases. BNPL arrangements typically involve...
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2026 Quantiphy – Eastern Suburbs, Sydney. All Right Reserved. Website By Omni Online
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