Market Wrap

Each month we publish Market Wrap, a summary of the previous month’s economic highlights. Economic Overview May 2021 Overall news flow remained supportive of risk assets including equities and credit and enabled most major share markets to make positive progress. Technology stocks tended to underperform, drifting lower from recent all-time highs. The technology-heavy NASDAQ in the US closed the month lower. Bond yields were little changed in key regions, meaning returns…  Read more

Victorian State Budget 2021-22

Victorian Treasurer, Tim Pallas, handed down the State budget on Thursday 20 May, which included a raft of tax changes that will impact a number of Victorian businesses. Payroll Tax Increase in the payroll tax threshold An increase in the tax-free threshold for payroll tax from $650,000 to $700,000 will be brought forward to 1 July 2021.  The Victorian Government estimates that approximately 500 businesses will no longer be liable…  Read more

Important Change for Employers: Superannuation Guarantee increasing to 10% on 1 July 2021

A Quick Overview The Superannuation Guarantee (SG) is scheduled to increase to 10% from 1 July 2021. If you have employees, you need to be ready for this legislated increase. What is Superannuation Guarantee? The Superannuation Guarantee is the minimum super an employer must pay to their employees super fund. The current SG percentage rate is 9.5% of employees Ordinary Time Earnings, but this is changing. Ordinary Time Earnings or…  Read more

Market Wrap Special Budget Edition

On Tuesday 11th May 2021, Treasurer Josh Frydenberg delivered the 2021-22 Federal Budget, which was eagerly awaited after unprecedented stimulus that occurred in the past year through the COVID-19 response measures. In the lead up to the Budget, the Treasurer flagged that this Budget would be aimed at increasing employment opportunities and laying out the next phase of Australia’s economic recovery plan. Some of the key announcements include: A $17.7…  Read more

Tax tips for new building & construction business owners

Do you want to avoid paying more than you should come tax time? Or a frantic last minute search for missing financial records? New building & construction business owners have a lot on their plate and can easily lose track of an approaching tax deadline or financial data needed to submit their return. Organisation is key when preparing for tax time. As is taking advantage of the many tools and resources…  Read more

Improving cash flow in the building & construction industry: How to get paid faster

Maintaining positive cash flow can be challenging for the business & construction industry, whether you’re just starting out or have been running your company for years. The difficulty often comes down to waiting for clients to pay their invoices. One or two chronic late payers cost valuable time and money when you have to chase them down; if reliable clients also fall behind one month, the result can be devastating.…  Read more

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