Winter is here and we are almost at the end of another financial year, and what a year it’s been! With so many Australians impacted by fires, floods, drought and now COVID-19, let’s hope the new financial year sees a more stable economic environment.

AFS finalists in the Australian Accounting Awards

AFS & Associates has been shortlisted and named as finalists in the Australian Accounting Awards for Wellness Program of the Year and Professional Development Program of the Year! Read all about it in our client update.

We look forward to the awards night in June. Fingers crossed we take home a win or two!

Economic Update

As May unfolded, hopes grew of economic re-opening. Reserve Bank Governor Philip Lowe told a Senate Committee on COVID-19 the economic downturn was less severe than feared due to Australia’s better than expected health outcomes and government stimulus and support. Unemployment rose from 5.2% to 6.2% in April, but without JobKeeper support payments it would have been closer to 9.6%.

We hope you enjoy this edition of our client update. We cover the following:

• Business support during COVID-19
• Take advantage of the instant asset write off before 30 June
• ATO opens applications for early release of superannuation
• Working from home: what can I deduct?
• Scams targeting natural disaster victims
• Employers need to pay superannuation now or be penalised.

Click here to read the full update.

Should you wish to investigate any of these matters further, please contact our office on 03 5443 0344.