Blog

The effects of Covid-19 on cyber crime

Blog
There are a number of reports emerging that predicts e-scams are likely to increase in the coming weeks and months. The Australian Cyber Security Centre have encouraged everyone to remain alert and the Australian Competition and Consumer Commission have received over 140 reports from individuals and businesses across Australia about…

JobKeeper payment audits and reviews are covered by Audit Shield

Blog
Tax shortcuts for working from home deductions, JobKeeper payments, and more. The Australian government is doing a good job of supporting the country through this unprecedented time of crisis but how will these actions affect audit activity for the rest of 2020? In the short term the Australian Taxation Office…

Only 1% of Australians Commonly Use Cryptocurrency, Study Reveals

Blog
A study released by the Reserve Bank of Australia has revealed that while most Australians are aware of cryptocurrencies, only a small number actually use them. “Although many respondents had heard of ‘cryptocurrencies’, very few had used a cryptocurrency such as Bitcoin to actually make a consumer payment over the…

ATO Releases Updated Tax and Superannuation Advice

Blog
To help Australians deal with the economic fallout in the wake of the COVID-19 pandemic, the government is allowing early access to superannuation and tax relief for individuals and businesses. On March 24th, the Australian Tax Office updated its website with a ‘one-stop-shop’ that provides information and advice related to the…

Innovation For Accountants

Blog
In time gone by, every piece of software was required to have its own base set of unique data, requiring the maintenance of varying databases of information. Many of the senior accountants out there will remember a time when there was so much repeated data across the various modules used. …

Judge Allows Cryptocurrency as Collateral in Defamation Case

Blog
In a recent defamation case before the New South Wales district court, the judge allowed cryptocurrency to be used as collateral. While Judge Judith Gibson acknowledged the volatility of crypto, she noted that it is a recognised form of investment. The accusing party in the defamation case was required by…

Australian Businesses are Losing Billions to Cyber Attacks

Blog
Each year, Australian businesses are losing approximately $29 billion due to cyber attacks. Officials say they receive a report of a cyber attack every 10 minutes. According to a Business SA report, the average cost of a cyber attack is $276,000. Adam Thomson, communications and engagement director of Crime Stoppers,…

Australia’s Inflation Rate Remains Low Despite The Black Summer

Blog
Australia’s inflation rate has increased, albeit by a small amount, due to a hike in the price of petrol as well as the recent drought-related food shortages. With the recent fires setting Australia ablaze, the country’s food supply is threatened by damage done to the locally sourced fresh produce. Bruce…