News & Views

2018-19 Federal Budget Report: Health

Investing in Australia’s Health

Record investment in health-related measures were announced to guarantee essential services for a “longer, healthier and safer life”.

The measures also extend to finances and job skills so that “Australians can “live life to the full” and plan ahead.

2018-19 Federal Budget Report: Infrastructure (including Resources and Energy)

Building a better Australia

The 2018 Budget commits the Coalition to a $75 billion infrastructure investment over 10-years. Projects include: reducing congestion, creating more jobs and improving safety.
Digital infrastructure will also be given a boost with improvements to the accuracy of GPS and satellite imagery, with flow-on effects to the competitiveness of sectors such as agriculture, mining and marine industries.
 
The 2018-19 Budget includes a continuation of the $37.6 million (allocated in 2017-18) over five years to support the improvement of energy affordability, reliability and sustainability.

How will IFRS 15 Revenue from Contracts with Customers impact the Local Government sector?

The International Accounting Standards Board (IASB) published IFRS 15 Revenue from Contracts with Customers in May 2014 effective for reporting periods commencing on or after 1 January 2019 for not-for-profit entities in Australia. During December 2016 the Australian Accounting Standards Board also released AASB 1058 Income of Not-for-profit Entities effective for the same date as IFRS 15. There has been considerable debate as to how these two new accounting standards interact with each other and also the likely impacts.

Moore Stephens NSW Rides Again

Beyond Blue, together with Charity Car Events, host an annual awareness event across New South Wales ‘Beyond Bitumen’. For the third year in a row a team from Moore Stephens NSW participated in the event and helped raise just over $13,500 of the $344,380 raised by the 2018 Beyond Bitumen Tour.

Single Touch Payroll is coming - are you ready?

Single Touch Payroll (STP) is coming into effect from 1 July 2018 for all ‘substantial employers’. It will change the way employers send employee's tax and superannuation information to the ATO with payments such as salaries and wages, pay as you go (PAYG) withholding and super information sent to their Accountants directly from their payroll solution at the same time they pay their employees.
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