Client Update | February 2020
Over the December and January period we were saddened to hear of the impact around the country to both our clients and their communities by the devastating bushfires.
We have made a donation to the Bendigo Bank National Bushfire Appeal and hope to find ways to help these communities further.
Economic update
January was unusually busy on the economic front. The International Monetary Fund downgraded its global growth forecasts to 3.3% this year and 3.4% in 2021, citing downside risks from geopolitical tensions and worsening relations between the US and its trading partners.
In Australia, the economic impact of the summer bushfires and ongoing drought is also expected to be significant. Interest rates in February remained on hold for the moment. Inflation lifted 0.7% in the December quarter, taking the annual rate from 1.7% to 1.8%.
This edition covers the following updates:
- Employers beware – changes to leave entitlements
- Insurance changes in superannuation
- ATO debts may affect your credit rating
- Calculation of superannuation with salary sacrificing
- New login option for online ATO services
- Whistleblower policies required
- Help for first home buyers
We hope you enjoy this edition of the AFS Client Update. Should you wish to investigate any of these matters further, please contact our office on 03 5443 0344.
