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key workplace changes come into effect

23 July 2012

As we embark on a new financial year it is timely to consider the legislative changes that may affect your workplace practices.  

Award Increases 

Recently, Fair Work Australia (FWA), the Government’s industrial umpire, announced an increase of 2.9% to the minimum wage in modern awards, effective from the first pay period on or after 1 July 2012. This increase applies to the minimum wage entitlements of most employees covered by the national system.

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New Director Appointed

23 July 2012

Boyce Managing Director Bernard Kennedy recently announced the appointment of Scott Christian to the firm’s directorship effective 1 July 2012. 

In announcing the appointment, Bernard noted Scott’s enormous contribution since joining the firm as a cadet eleven years ago. 

“Scott has shown loyalty and commitment to the firm and our clients from day one,” said Bernard. 

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Shane Oliver's 'Market outlook AFER a rough financial year'

23 July 2012

The following is brought to you by Boyce Financial Services, the financial advisory division of Boyce Chartered Accountants.

Dr Shane Oliver, head of Investment Strategy and chief economist with AMP Capital, notes that “the past financial year has been disappointing for investors exposed to shares, with global shares returning -2.1% in local currency terms and Australian shares returning -6.7% as worries about the economic outlook continue to weigh.”

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Small business concessions | Simpler depreciation rules

23 July 2012

The 2012-13 financial year heralds a number of changes to the simplified depreciation rules for small businesses. The amendments apply to small businesses with an aggregated turnover of less than $2 million per annum. (Aggregated turnover includes the annual turnover of the small business and the annual turnovers of any connected or affiliated businesses). 

Increase to instant asset write-off 

The small business instant asset write-off has been increased from $1,000 to $6,500. I.e. A small business can claim an immediate tax deduction for depreciating assets that cost less than $6,500 (GST exclusive).

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Supporting our communities

Supporting our communities

23 July 2012

The Boyce Corporate Social Responsibility (CSR) Program was established in 2010 to encourage directors and team members to formalise our commitment to ensuring a positive impact on the communities in which we work and live. 

The CSR program is very much driven by the Boyce team; all play a role in determining the direction of the program, the activities undertaken and the causes to support. This shared vision has enabled us to focus efforts in areas where we believe we can make a real and significant difference. 

Since the inception of the program, the Boyce CSR Focus Group has been tracking the level of support the firm provides via donations to local charities and events, and through honorary accounting and audit activities for local community-based organisations. The combined level of support across both areas grew from $139,232 in 2010 to $150,706 in 2011. We expect the figures for 2012 (once collated) will continue the rising trend of the past two years. 

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