Client Update – April 2017

As April arrives Queenslanders are clearing up after the devastation of Cyclone Debbie which damaged homes, businesses and agricultural crops. Our thoughts and best wishes go out to all those affected.

Our April update includes a very special front page, as we introduce our first Chief Executive Officer of the firm, Kate Mannix.

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Economic update

The Australian dollar jumped to 77.3 US cents on the news before slipping back below 77 US cents. The Reserve Bank opted to keep official rates steady in March, weighing up the continuing property boom in parts of the country with a softer employment market and low wages growth. Unemployment rose to 5.9% in February from 5.7% in January.

On the global economic front, the big news in March was the US Federal Reserve’s decision to lift interest rates by 0.25 basis points to between 0.75% and 1%. This is the second rise in three months, with two more expected this year. Australia’s big four banks, which get 40% of their funding overseas, lifted home loan interest rates for owner occupiers and investors.

 

 

Also in this issue:

  • Fringe Benefits Tax laid bare
  • Penalties of 75% for failing to lodge FBT returns
  • Changes to Working Holiday visas
  • Treat AUSkey details like credit card info
  • Countdown to superannuation deadline
  • Taxpayer denied deduction for work expenses of $60,000
  • Scams targeting ASIC customers
  • Photo gallery: out and about in Bendigo
  • 2017 Seminar Series

 

We hope you find this issue informative, should you wish to investigate any of these matters, we encourage you to contact our office.