How to Improve Your Financial Situation Post COVID-19We’re all a bit worried at the moment. If you’ve been paying any attention, you are probably absorbing a lot of news on the state… READ MORE Morrows Private Wealth Market Portfolio Strategy Update – May 2020In this May update of Morrows Private Wealth Market Investment Portfolio Strategy, Morrows CIO Chris Molloy advises on the progress of the market through the… READ MORE Temporary Changes to Witnessing of Legal Documents Due to COVID-19The witnessing of Estate Planning documents, affidavits and statutory declarations have always been subject to strict legislative requirements which must be met in order for… READ MORE Complimentary Business and Personal Development Courses to Deal with COVID-19To help clients dealing with COVID-19, Morrows is offering two FREE online courses. The current climate may present the opportunity to spend some extra time… READ MORE Pandemic Effects on Australian Real EstateHouse prices might fall as much as 32% in the next three years; for anyone looking to sell or invest in residential or commercial property,… READ MORE Developments for Victorian Business Support Funds and JobKeeperMany businesses and individuals will be affected by new developments in the second phase of Victoria’s Business Support Fund grants and the JobKeeper Program. Both… READ MORE Temporary Changes to the Foreign Investor FrameworkIn light of the COVID-19 pandemic, Australia’s Treasurer Josh Frydenberg has introduced new measures to protect Australian real estate and businesses from foreign investor acquisitions…. READ MORE End of April JobKeeper UpdateAs April draws to an end, the first wage subsidy payments under the ATO’s JobKeeper program will soon be paid to thousands of businesses across… READ MORE JobKeeper Payment Enrolment is OpenA key milestone in the JobKeeper Payment program started on Monday 20th April, with the official enrolment for the JobKeeper Payment program opening up to Employers…. READ MORE COVID-19 Increases Cyber Security ThreatsAustralians under severe financial strain have been subjected to an increased number of cyber security attacks in recent weeks. Due to a focus on finances,… READ MORE JobKeeper Program – ATO GuideTo ensure that our clients are across the latest details from the JobKeeper Program, Morrows has summarised key information about enrolling and applying for the JobKeeper… READ MORE Rent Relief for Residential Tenants and Land Tax Relief for LandlordsRental Assistance for Tenants The Victorian Government has established an $80 million rental assistance fund to provide relief payments of up to $2,000 to Victorians… READ MORE JobKeeper Wage Subsidy ApprovedOn the 8th of April, Federal Parliament approved the $130 billion JobKeeper wage subsidy. Prime Minister Scott Morrison said the crisis could last “far longer”… READ MORE Code of Conduct Brings Relief for Commercial TenantsOn Tuesday 7 April, the National Cabinet released its “Mandatory Code of Conduct” setting out principles to apply to varied terms to be agreed between… READ MORE The “JobKeeper” Initiative – A Game ChangerEarlier this week the Federal Government announced the third round of its economic stimulus measures in response to the impact of COVID-19. This represents a… READ MORE Deferring Loan Repayments Under the Economic Strain of COVID-19With the severe economic impacts of COVID-19, many people are experiencing significant difficulties making repayments on their loans. If you are a part of this… READ MORE COVID-19: Are Tenants Entitled to Rent Relief and/or to Vacate PremisesMost leases, including the current Law Institute of Victoria’s Lease of Real Estate (Commercial) (LIV Lease) do not deal with the unique circumstances that we… READ MORE COVID-19: Time to Renegotiate Your Lease?The worldwide outbreak of COVID-19 has brought unexpected uncertainty to both landlords and tenants. Concerns about imminent business interruption and consequent cashflow issues are prevalent…. READ MORE The Importance of Estate Planning in the Face of CrisisThe evolving economic and health crisis arising from COVID-19 has resulted in the world experiencing unprecedented change and complications. These are expected to continue for… READ MORE Insurance Update – COVID-19As COVID-19 (Coronavirus) spreads across the globe, we want to keep you informed of what the pandemic may mean for your existing insurance coverage, should… READ MORE Financial Support Measures for Businesses During COVID-19 OutbreakIn the wake of the COVID-19 economic impact, Governments and banks have been working to provide support for businesses. Expectations for the business climate in… READ MORE Legal Obligations for Employers During COVID-19 CrisisThe COVID-19 outbreak and new social distancing measures have resulted in industry wide shutdowns. Many organisations are left wondering what their legal obligations are to… READ MORE Federal & State Government Economic Stimulus UpdateThe Treasury has announced the Federal Government’s second stimulus package. This package builds on existing measures announced previously, as well as implementing new concessions to… READ MORE With Great Sorrow We Announce Morrows Principal of Audit Lee Wong has Passed AwayWith deepest sympathies and sadness in our hearts, we must inform the Morrows community that our dear friend and Principal of Audit Lee Wong passed… READ MORE COVID-19 Morrows Operational Changes from Friday 20th MarchAs COVID-19 (Coronavirus) spreads across the globe, Morrows is committed to ensuring the safety of our workforce, clients and community. We want to let you… READ MORE ATO Support for Businesses Affected by COVID-19Your team at Morrows will assist you with ATO contact, applications and registrations to get the best outcome for you and your business. In response… READ MORE Are You Entitled to Access the $17.6 billion COVID-19 Stimulus Package?Yesterday the Government announced a $17.6 billion stimulus package will be released including cash handouts, wage subsidies and tax incentives. Our Business and Tax Team… READ MORE COVID-19 UpdateDear valued clients, With the outbreak of COVID-19 and the World Health Organisation declaring it as a global pandemic, we are monitoring the situation carefully… READ MORE Steps to Protect Your Staff During the Coronavirus CrisisAs the threat of the coronavirus continues to grow, businesses need to be prepared to embrace a flexible culture in the workplace. At a certain… READ MORE Tips to Prepare and Support Your Business Through the Coronavirus OutbreakStephen Covey wrote that you must “take control of that which you can control”. Facing a potential crisis such as coronavirus, is extremely challenging and… READ MORE When Does a Business Need an Independent Audit?Without regular and proper audits, your entity may be risking operational efficiency and compliance to various industry and legislative standards. An independent audit is the… READ MORE Case Study: Aged Care – KateAbout Kate Kate has been considering moving from Sydney to Melbourne into residential aged care. She wanted to move closer to her daughter and grandchildren… READ MORE GST TAX Alert – Director Penalties for Late GST to Apply from April 1, 2020Parliament has recently passed legislation that increases the responsibility of directors’ taxation obligations. The Treasury Laws Amendment (Combating Illegal Phoenixing) Bill 2019 extending the director… READ MORE Mitigating Audit RiskAs modern businesses strive to improve operational processes, internal analysis has become an increasingly relevant action. One of the most common forms of analysis is… READ MORE The Importance of Family and Third-Party input in Aged Care DecisionsUnfortunately, none of us can be young forever. If the time has come for you or a loved one to consider the move to aged… READ MORE Private Wealth Half Yearly Market Update – February 2020Global economic policy uncertainty and geopolitical risks have been mounting, but markets continue to push higher. Why is this the case? In this update, Chris… READ MORE Single Touch Payroll and TaxAs of July 1st, 2019, STP reporting became compulsory for all employers. Single Touch Payroll (STP) is a new method for Australian employers to report… READ MORE Perks of Joining a Self-managed Super FundSelf-managed super funds are those which are structured differently to traditional superannuation funds to provide their members with more direct control and different benefits. SMSF’s… READ MORE Struggling with Multiple Debts: The Value of Debt ConsolidationMost people experience debt at one time or another in their life. Many of us will incur multiple debts and face the challenges of repayments,… READ MORE What to Consider When Saving for Your House DepositBuying a house is the biggest purchase many of us will ever make and so it carries a significant financial responsibility. The first part of… READ MORE Australian Employers Under Fire to Stop Withholding Super PaymentsFollowing the end of 2019’s final quarter, the ATO will send emails to 4,000 Australian employers reminding them of their superannuation obligations. According to Industry… READ MORE ATO Compliance – Tax Tips for BusinessesThe Australian Tax Office keeps a watchful eye on all business activities. Businesses of any size are under obligation to ensure that they are compliant… READ MORE Types of Aged Care to ConsiderAs we age, we’re often presented with choices that require significant lifestyle changes. Relocation, declining health or even personal preferences can prompt a lifestyle change… READ MORE Motivating Children to Take More Responsibility with MoneyA financial matter that often fails to receive the attention it needs is the responsibility of the younger generations taking on the family’s money. While… READ MORE Are you aware of foreign landowners’ duties?Foreign persons who invest in property in Australia are subject to a range of obligations. It’s important to know what they are and fully understand… READ MORE Audit quality: how it affects your businessThe Senate has voted to establish an inquiry into the regulation of auditing, the process of inspecting a business’s accounts to be sure that everything… READ MORE What you need to know about voluntary assisted dying laws in VictoriaOn the 19th of June 2019, the Voluntary Assisted Dying Act (2017) (“the Act”) came into effect, making Victoria the first state in Australia to… READ MORE The benefit of implementing a positive workplace cultureAs employers, we strive to provide the best for our employees’ job satisfaction – this is often in part achieved through workplace initiatives such as… READ MORE What you need to consider when guaranteeing your child’s loanIn a climate where today’s younger generations are struggling to buy property, leveraging security from parents through a guarantee has become a common way to… READ MORE Don’t be caught making any ridiculous tax claimsWhile most people are in the process of lodging their tax returns during this time of the year, the Australian Taxation Office (ATO) is also… READ MORE Why you may not get away with any creative accounting this tax yearIt is not uncommon for tax payers to take advantage of our tax system and reduce the taxable income as much as legally possible. However,… READ MORE Australia Introduced a New Super Law – Are you up to date?Superannuation always seems to be changing. The Treasury Law Amendment Bill 2019, a new super law, was passed last week. This will make changes to… READ MORE Are you on the best rate? Reserve Bank cuts interest rates to 0.75%, It’s time to talk.The Reserve Bank of Australia has cut the official cash rate by 0.25% to a record low of 0.75%, in an effort to increase employment… READ MORE Private Wealth Half Yearly Market Update – August 2019 The 2019 financial year was a tale of two halves, with the December 2018 half recording sharp losses and the June 2019 half rebounding… READ MORE Why you need to make the tough decisions about Aged Care nowPlanning aged care for your loved ones can be quite confrontational and emotionally draining but it cannot be ignored. Lack of planning can leave you… READ MORE Could Bob Hawke have avoided his daughter contesting his Will?Two months after the death of former Prime Minister Bob Hawke, there are now reports that his daughter may be preparing to take legal action… READ MORE Acquiring a loan for your next property purchase just got a little easierWhen it comes to gaining approval for a mortgage, there is a lot of red tape. However, due to the current economic environment of low… READ MORE What will the interest rate cuts mean for you?In the first week of July, the Reserve Bank of Australia cut the cash rate by 25 basis points to a historically low of 1.00… READ MORE 2019 Year-End Tax Planning & Urgent DeadlinesMorrows takes tax planning before year-end seriously. Many of our clients are provided with detailed analysis, tax advice/strategy and tax calendars. All clients have been… READ MORE GST withholding legislation gives purchasers headachesThe GST withholding regime came into effect on 1 July 2018 and requires purchasers of new residential premises and potential residential land to withhold and… READ MORE Are you ready for EOFY?The federal election has come and gone, and this has provided us with a clear picture as to what our tax laws will look like… READ MORE Are you now eligible for this instant asset write-off?The recent Budget proposed some significant changes for small businesses. One change that occurred the instant the budget was handed down was an increase in… READ MORE How do you motivate the modern employee?In the modern workplace, motivating employees takes more than just words of encouragement. It now entails facilitating difficult conversations between staff members and fostering happiness… READ MORE 2019 Federal Election Policy Comparison: What Will it Mean for You?The lead up to the 2019 Federal Election has brought a number of proposed policies from each of the major parties. In an effort to… READ MORE Are you engaging in unqualified legal practice?Accountants are often called upon by their clients to give tax advice. However, you could be advising beyond your expertise, which can put you and… READ MORE Are you aware of the changes to the Oaths and Affirmations Act (2018)?The new Oaths and Affirmations Act (2018) came into effect on 1 March 2019. This new legislation applies to those who take oaths and affirmations,… READ MORE Understanding guarantees – What do your clients need to be wary of?A guarantee is commonly included in a loan, a lease or commercial contract. Understanding the nuances of the agreement can be complicated, however these cannot… READ MORE Morrows 2019 Budget ReportTo assist our clients, the Morrows One Team aims to identify some key items that will be of significant interest as they will have an… READ MORE Is your business ready for these payroll and reporting changes?Is your business ready for the biggest change to business processes, processing payroll and reporting to the ATO since GST was introduced? As of 1… READ MORE Private Wealth Half Yearly Market Update – March 2019The global economy entered 2018 in a buoyant mood with sentiment indicators at 30-year highs but in December the US markets entered bear territory. So,… READ MORE Avoid the traps of Binding Death Benefit NominationsSelf-managed Superannuation Funds (SMSFs) can be an Estate Planning minefield at the best of times. One particular area of concern is in the invalid or… READ MORE When Signing and Dating Documents Leads to Unintended ConsequencesAn Adelaide financial adviser has been permanently banned from providing financial services following findings that he had engaged in “dishonest conduct” by ASIC. Some of… READ MORE Important Warning: Your PPSR Security may have lapsed leaving you unsecured.The Personal Property Securities Register came into existence as the single, national online database of security interests in personal property in Australia on the 30th… READ MORE Beware of fraudster conveyancers when buying or selling propertyLast year we saw a rise in the property market, but also a rise in cyber scammers who intercepted emails containing bank account details and… READ MORE Morrows advisors realise Alzheimer’s is the curse of estate planningLaura Harding from Morrows Legal’s estate planning team and Renato Manias from our aged care group are currently trying to rescue Larry*, a long term… READ MORE A New Year checklist to help you prepare for 2019The New Year is a great time of the year to set goals, make new lifestyle changes and plan for the future – for many… READ MORE The Commonly Overlooked Benefits of Estate PlanningEstate planning is an important process which involves strategically planning the distribution of one’s assets in the event of passing or an incident prohibiting one… READ MORE The 7 steps to entering aged careAustralia has a robust aged care system designed to support the elderly with quality care when they need it the most. However, engaging professionals for… READ MORE 3 Critical Estate Planning steps every person should takeWhat is estate planning? Estate planning isn’t the most exciting of tasks – but it is essential. Developing a strategy on how to best manage… READ MORE Private Wealth Half Yearly Market Update- August 2018Chris Molloy, CIO of Morrows Private Wealth highlights our outlook for markets and what this means for investors and their portfolio strategy. Current valuations suggest… READ MORE How Entrepreneurs Can Take Money Off The TableThe life of an entrepreneur is a busy, exciting and often challenging one. However, being a successful entrepreneur requires a great deal of financial insight,… READ MORE The Ultimate Family Office SetupWhen changes to your family’s financial situation arise, this can have long-standing effects on the situation of your family’s wealth. These financial change can range… READ MORE Questions You Should Ask a Financial PlannerChoosing which financial advisor can be a daunting task when you are not sure where to start, or which questions you should ask. Having some… READ MORE 5 rules of Aged Care PlanningTaking care to ensure that you are prepared for now and for the future is important. When preparing for residential aged care, Morrows understands that… READ MORE ATO – Taking investigations to the next levelATO – Investigations turn to social media The ATO are currently undertaking new and inventive ways to ensure you are being 100% honest when lodging… READ MORE I don’t need a Power of Attorney, I have joint bank accountsThis is one common misconception regarding powers of attorney described by clients of Morrows Legal which we are required to dispel. They are totally different… READ MORE The ATO Crack Down on Rental Properties and Holiday HomesIf you are one of the many Australian’s who own rental properties or rent out holiday homes for a few weeks a year, then make… READ MORE The Journey into Aged Care is a Challenging and Emotional TimeMorrows’ Golden Rules for your Golden Years READ MORE Superannuation – What’s Your Plan?Estate planning is often considered to be “just a Will”, but it actually comprises a lot more than just that one document. One aspect of… READ MORE
