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Blockchain Technology and its impact on the SMSF and other Accounting Industry

January 8, 2024
Superannuation
The term "blockchain" refers to the way data is structured into "blocks" of information, and each new block is linked to the previous one, forming a continuous chain of blocks. Blockchain technology is a decentralized and distributed ledger technology that records transactions across multiple comput ...
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Top 5 Accounting Trends for 2024

January 8, 2024
Business Service
As we move towards 2024, the accounting industry is expected to undergo significant transformations that will redefine the way professionals work. In this blog post, we'll discuss the top five accounting trends that will shape the industry, providing new opportunities and challenges for accountants. ...
Bookkeeping
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Tax deductions for Business in 2024 – Australia

January 8, 2024
Bookkeeping
Tax deductions:A tax deduction is a way to reduce the amount of income that is subject to tax. It is an expense that can be deducted from the income to lower the tax liability.Tax deductions can include Work related expense, Charitable donations and mortgage expenses.It can either be itemized ...
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Risk Management Strategies in Financial Institutions

January 3, 2024
Financial Planning
Financial institutions operate in a complex and dynamic environment where a wide range of hazards are constantly present and could compromise their stability and profitability. Effective risk management strategies must be implemented if their long-term success and stakeholders' interests are to be p ...
carisma solutions
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ATO Update (December 2023)

December 11, 2023
Monthly Update
SMSFs investing in propertyIf you're considering buying property using your Self-Managed Super Fund (SMSF) it's important you understand the rules relating to SMSFs and property.Firstly, the property can only be used for providing retirement benefits to the SMSF members otherwise it will brea ...
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Bookkeeping for Construction Business

December 4, 2023
Bookkeeping
Is accounting for Construction business different?Yes, the accounting is different for construction business due to the below reasons.1. Payroll:Payroll processing for construction business is little difficult as compared to other payrolls. The subcontractors will be the construction w ...
Business Services
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The Integration of Non-financial Data into Financial Reports

December 4, 2023
Business Service
The integration of non-financial data into financial reports is important for stakeholders as it enables comprehensive decision-making, facilitates risk assessment, evaluates ESG performance, promotes accountability and transparency, and ensures regulatory compliance.Comprehensive Decision-making ...
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Understanding the Transfer Balance Cap in SMSF

December 4, 2023
Superannuation
The Transfer Balance Cap (TBC), initiated on 1st July 2017, was introduced with the aim of restricting the amount individuals can transfer into retirement phase pensions. When first introduced, the General TBC was set to $1.6 Million.  However, the General Transfer Balance Cap (TBC) was subsequen ...
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The Role of Financial Derivatives in Managing Risk and Enhancing Returns in Business Sector

December 4, 2023
Financial Planning
Financial derivatives are now an essential component of contemporary financial markets, helping companies of all sizes manage risk and increase returns. These complicated financial instruments give organizations a flexible toolkit to manage the intricacies of the financial landscape. They get their ...
carisma solutions
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ATO Update (November 2023)

November 6, 2023
Monthly Update
Alert for changes made to your SMSFIf you make changes to your SMSF ATO will send you an alert for changes made to SMSF information.ATO may send you an alert via email or text message when:>you register a new SMSF>you change an existing SMSF'sFinancial institution account detailsElectro ...
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