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SMSF Sector Shows Steady Growth with Female Members Leading in New Fund Creation.

Date: October 3, 2023
Categories: Superannuation
As per SMSF fund quarterly statistics for June 2023 revealed the establishment of 6,351 new funds during the quarter, along with 297 fund closures, resulting in a net growth of 6,054 funds. Consequently, the total count of SMSFs has now reached 610,287, collectively comprising 1.13 million members.T ...
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Carisma Solutions
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The Evolution of Digital Payments and Cashless Economies: From Cash to Code

Date: October 3, 2023
Categories: Financial Planning
The switch from paper money to digital payments has been nothing short of revolutionary in an age marked by rapid technological advancement. This article examines the significant effects that digital payments have had on economies all over the world, as well as the advantages and potential future of ...
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Business Services
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Adoption of Data Analytics and Visualization Tools

Date: October 3, 2023
Categories: Business Service
In recent years, the accounting industry has undergone a significant transformation with the increasing adoption of data analytics and visualization tools. As businesses generate more financial data, accountants are leveraging advanced analytics techniques to gain insights into financial performance ...
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Bookkeeping
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Forecasting for Business

Date: October 3, 2023
Categories: Bookkeeping
Primarily, to progress on your business decisions only possible by creating and analysing the management reports, whereas the past data can only explain on that.It’s significant to plan in today’s business. To form an informed decision on upcoming future strategies, you must be able to decide th ...
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carisma solutions
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ATO Update (September 2023)

Date: September 5, 2023
Categories: Monthly Update
Checking for charges over property assetsSelf-Managed Super Funds (SMSF) auditors should ensure there are no charges over fund assets as part of completing an annual fund audit.You should obtain evidence annually that trustees have not given a charge over or in relation to a fund asset by see ...
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Superannuation death benefits – TBC Review

Date: September 5, 2023
Categories: Superannuation
In the realm of Self-Managed Superannuation Funds (SMSFs), the Transfer Balance Cap (TBC) stands as a pivotal player. This cap, which sets limits on the amount of capital transferrable to the retirement phase of super, has undergone dynamic changes since its inception on 1 July 2017. Most notably, o ...
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Carisma Solutions
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Venture Capital: Fuelling Innovation and Entrepreneurship

Date: September 5, 2023
Categories: Financial Planning
In the world of business and innovation, Venture Capital (VC) plays an important role in helping startups and new companies grow. It helps as a motivating force behind tech advancements, new jobs, and economic growth.Venture Capital means a form of private equity funding that investors give to start ...
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Cloud Accounting Software

Date: September 5, 2023
Categories: Business Service
Cloud Accounting Software has become an invaluable tool for accountants, transforming financial processing with its accessibility, collaboration, automation, and real-time reporting capabilities. By embracing this technology, accountants can streamline their workflows, improve efficiency, and provid ...
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Carisma Solutions
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Don’t process your own payroll for the following reasons

Date: September 5, 2023
Categories: Bookkeeping
You may think that doing your own payroll for a few staff can save money, but you should save time for your business.Time Taking Task:Obviously, if you are from a non-finance background then you need to spend more time to calculate the work hours, and deductions, setting up the pay in the Ban ...
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carisma solutions
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ATO Update (August 2023)

Date: August 4, 2023
Categories: Monthly Update
Reasonable travel and overtime meal allowance amountsThe ATO has released its annual ruling setting out the amounts it treats as reasonable for 2023-24 in relation to employee claims for:> Overtime meal expenses: The reasonable amount is $35.65.> Domestic travel expenses: ...
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