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Proposed law to restrict cash payments
New restrictions on cash transactions may be coming into effect after the government released the draft Currency (Restrictions of the Use of Cash) Bill 2019, which proposed to make it an offence to make or accept cash payments of $10,000 or more. The bill proposes that people using cash above…
Why you need business interruption insurance
With many small businesses often being the livelihood for their entire families, owners should consider taking out business interruption insurance in order to safeguard against financial loss experienced as a result of incidents such as fire, floods, damage and burglaries. With statistics showing one in four small businesses would not…
Is a pay cut worth it?
When looking for a new career opportunity, a pay cut is something that may come up with a job offer. There are factors such as experience, field of work, job demand and potential for growth that all affect a salary offer. Deciding whether or not to take a pay cut…
New SMSF alert system
The ATO has introduced a new method of updating SMSF trustees of changes to their fund. From 3 February 2020, email and/or text message alert will be sent out when there are changes in the SMSF, such as; Financial institution account details. Electronic service address (ESA). Authorised contact. Members. If…