Business Advice

Arabon Accountants Fair Work Australia Minimum Wage Review 2021

Fair Work Australia Minimum Wage Review 2021

The Fair Work Australia Minimum Wage Review 2021 has revealed a 2.5% increase to the national minimum wage starting 1 July 2021.  The decision was based on a foundation that the country’s economic performance has ‘exceeded expectations’ and that recovery was well underway. The minimum wage will increase from $19.84 to $20.33 or $772.60 per week …

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Trust Distribution Minutes and Dividend Statements: what you need to know before June 30

It’s almost 30 June.  Have you done your trust distribution minute and/or intend to pay your beneficiaries a dividend?  If you have a discretionary trust, then 30 June is an important date for you. The purpose of a trust is to separate the legal and beneficial ownership of assets. The legal ownership of the asset …

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Arabon Accountants Director ID Number

What you need to know about the new Lifetime Director ID Number

Following a review of Australia’s business registers, Directors will be required to register for a new lifetime director ID number, much like a tax file number. The introduction of the new lifetime Director Identification Number (DIN) regime is part of the Government’s Modernisation of Business Registers (MBR) Program creating greater transparency and monitoring of the …

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Arabon Accountants Best Interests Duty

What is the Best Interests Duty for mortgage brokers?

The best interests duty for mortgage brokers is a statutory obligation for mortgage brokers to act in the best interests of consumers (best interests duty), and to prioritise consumers’ interest when providing credit assistance (conflict priority rule). These two obligations are collectively referred to as the Best Interests Duty. Based on the Royal Commission’s recommendations, …

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Arabon Business Accounting Digital Trends

Five digital trends for small business fast-tracked by COVID-19

The pandemic has paved the way for a number of sluggish digital trends, many of which have changed the way small business does business forever.  So which trends will have staying power and are suddenly on every small-business owner’s to-do list? We discuss five digital trends for small business that have appeared or been accelerated …

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