Information You won’t get from Unlicensed Accountants #55

Along with this raft of legislative change, the Australian Securities and Investments Commission (ASIC) has also introduced new licensing requirements for accountants who work with and advise Self Managed Superannuation Fund (SMSF) Trustees. Only approx. 10% of accountants have complied with these changes to date.

As such if you, as many, consider your accountant would be your 1st port of call for Financial Advice, they will likely advise you, they are unable to provide the information you require & should consult a qualified Financial Adviser / Planner.

This is general advice only and you should seek expert financial advice from a qualified financial adviser before acting on any of the information covered in these topics.

Australia is Back Baby!

The Australian Bureau of Statistics (ABS) has just released its seasonally adjusted estimates for March 2021, and they make for good reading.

  • Monthly hours worked increased by 38 million to a record 1800 million.

  • Unemployment fell to 5.6% from 5.8% and is now at its lowest since the Covid lockdowns begun in March 2021.

  • Underemployment is down to 7.9%, which is better than pre Covid levels.

  • The Participation rate is back to 66.3%. A record high.

  • Employment to population ratio increased to 62.6% above pre Covid levels.

  • Raw Total Employment numbers are now above pre Covid levels.

Optimism is high and business conditions are on the improve.

“I’d be a bum on the street with a tin cup if the markets were always efficient” – Warren Buffet.

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