Question My client is on accruals. Do I account for the Cash Flow Boost via Journal Entry at 30 June or do I only account for the Cash Flow Boost NANE when received which is in the next Financial Year? The way I see it the CFB is an addition to the BAS & does not form part of the …
Forced closure for South Australian Businesses
Question I have clients that have had to close their business for 6 days due to SA COVID restrictions. Our question is do they still have to pay their staff under Fairwork, or can they force them to take leave? Most are no longer on JobKeeper payments, therefore Fairwork changes can not apply? Answer Firstly, they need to see if …
Closing of Super Fund
Question Facts of the matter. We have 2 super funds; both have 2 members myself and my wife. We both are in pension mode. Super fund 1 has cash only and has concessional contribution part. Super fund (2) is made of non-concessional contribution only. It has property, cash, and some small number of shares. This is the fund we draw …