AdvisorCorp

18/06/2024

Online accounting from Xero

18/04/2024

Free to attend

19/03/2024

The Reserve Bank of Australia (RBA) has held the cash rate steady at 4.35 per cent during the March monetary policy meeting.

14/03/2024

Understanding Employee Claims of Unreasonable Additional Hours: A Case Study

In the recent case of Dorsch v HEAD Oceania Pty Ltd (2024), an employee alleged that his employer mandated him to work unreasonable additional hours without proper compensation or regard for his personal well-being. The employee claimed to have worked between 30 and 40 hours per week beyond the standard 38-hour workweek, raising questions about the employer's compliance with the Fair Work Act 2009 (Cth) (FW Act).

Under the FW Act, an employer must not request or require a full-time employee to work more than 38 hours per week unless the additional hours are reasonable. Determining reasonableness is contextual, considering factors such as health and safety risks, personal circumstances, role nature, and level of responsibility.

The applicant in this case was the most senior employee of the employer, with significant autonomy in managing his workload and working hours. Despite this, the Court ruled in favour of the employer, citing insufficient evidence presented by the employee to substantiate the claim of excessive work hours.

The employee's allegations were not adequately supported by evidence of specific dates or periods during which he purportedly worked 70–80 hours per week. Additionally, evidence regarding extensive work-related travel lacked specificity, failing to support the claim of excessive workload.

The Court's ruling provides guidance on when hours worked outside ordinary working hours can be considered 'required' by the employer. It highlights that a requirement to work additional hours does not necessarily require explicit communication from the employer but can be inferred from circumstances, including the nature of the work and the employee's level of autonomy.

This case serves as a reminder for both employers and employees to carefully document and substantiate claims related to work hours and workload. Clear communication, proper record-keeping, and adherence to legal obligations are essential to ensuring fair and reasonable working conditions for all parties involved.

14/03/2024

Former ATO officer sentenced for accepting bribes.

The ATO has advised that a former ATO employee has been sentenced to 5 years' imprisonment for corrupt conduct, including accepting bribes from a taxpayer they were auditing, in exchange for reducing millions of dollars in personal and business tax debts over a span of 6 years, which ceased only after the former employee's arrest. Following a guilty plea in July 2023, the Parramatta District Court, on 12 March 2024, convicted the offender of several contraventions of the Commonwealth Criminal Code, including accepting a bribe as a Commonwealth official, abuse of public office, and unauthorised access and disclosure of restricted data. The Court sentenced the offender to 5 years in prison, with a non-parole period of 2 years and 6 months.

14/03/2024

If buying a new home were a marathon, settlement would be the finish line. It’s the bit where you finally take legal possession of the property – but there’s a little more to it than simply handing over the cash and picking up the keys.

07/03/2024

Boost in Home Buyer Confidence, Reveals Westpac Report

Exciting news for the Australian property market! The latest Westpac Home Ownership Report has highlighted a significant lift in home buyer confidence. An impressive 44% of Australians now indicate their intention to purchase a new home within the next five years—an uplifting 9% increase since July 2023. This boost in confidence extends to investment purchases, upsizing, and renovations as well.

Yet, it's noteworthy that first home buyers face challenges, with a slight dip in their numbers due to the recent cost-of-living pressures. Despite these hurdles, Australians are showing remarkable adaptability and creativity in their approach to home ownership. From partnering up for purchases, considering new locations, to "rent-vesting," the dream of owning a home remains strong. In fact, 47% are even open to paying lenders mortgage insurance (LMI) for a quicker entry into their first home.

As housing confidence continues to evolve, with shifting preferences towards various types of properties and compromises on location, the journey to home ownership is more dynamic than ever.

At AdvisorCorp, we understand the importance of navigating these changing tides with expertise and tailored advice. Our Finance team is here to assist you with securing your home loan, offering personalised solutions that align with your home buying aspirations. Whether you're a first-time buyer, looking to invest, or planning to upsize, we're committed to helping you achieve your property goals.

🌟 Let's make your home ownership dreams a reality. Contact us today to explore how we can support your journey in this optimistic market.

23/01/2024

23/01/2024

Fixed rate decrease
&
Up to 3K cash back.

03/01/2024

RBA schedule changes for 2024

Below is the expected schedule:
February - Tuesday 6th
March - Tuesday 19th
May - Tuesday 7th
June - Tuesday 18th
August - Tuesday 6th
September - Tuesday 24th
November - Tuesday 5th
December - Tuesday 10th

Ref- 2024 Reserve Bank Board Meeting Dates - Media Release

28/09/2023

New salary packaging opportunities for electric cars

Late last year, the Federal Government introduced changes to the fringe benefits tax rules that offer a unique salary packaging opportunity that could offer you substantial savings.

Under these changes, a Fringe Benefits Tax (‘FBT’) exemption has been introduced in relation to employers providing current employees (or their associates, including spouses) with certain electric cars.

The NEW FBT exemption allows employees to enter into a salary sacrifice arrangement with their employer for the provision of an electric car without triggering any FBT liability. As such, employees can salary package the cost of lease payments, registration and other car running expenses with respect to an electric car from their pre-tax salary without FBT being payable.

Naturally, any salary packaging arrangements (including with respect to an electric car) will be reliant upon your employer agreeing to the request. We can assist you with making that request if you decide to take advantage of this opportunity.
Please organise an appointment via https://www.advisorcorp.com.au/meeting to discuss your eligibility.