Latest news

A word of caution on Fixed-Term Investment Products

With market uncertainty as it is, there has been a surge in promotions for fixed-term investment products touting themselves as suitable alternatives to term deposits, but with greater returns.  However, as we’ve discussed with a number of clients, this is misleading and ASIC is clamping down.  Here’s a really good article summarising why.  Speak with us if you’d like to know more. 

https://www.nestegg.com.au/invest-money/advice/not-like-a-term-deposit-asic-delivers-risky-investment-warning

JobKeeper at a Glance

Here is a great infographic from Robyn Jacobson of TaxBanter Pty Ltd providing a one-stop break down of the JobKeeper subsidy payment.  Well worth having a look through, though please make sure to contact us for specifics given your own situation.

Government Announcement on new JobKeeper Subsidy

The government has just announced a new JobKeeper subsidy payment to assist those facing hardship as a result of Covid-19 restrictions.

“The JobKeeper Payment is a subsidy to businesses, which will keep more Australians in jobs through the course of the coronavirus outbreak.

The payment will be paid to employers, for up to six months, for each eligible employee that was on their books on 1 March 2020 and is retained or continues to be engaged by that employer.

Where a business has stood down employees since 1 March, the payment will help them maintain connection with their employees.

Employers will receive a payment of $1,500 per fortnight per eligible employee. Every eligible employee must receive at least $1,500 per fortnight from this business, before tax.

For more, see the full press release here.  Registered employers using Single Touch Payroll can register your interest for JobKeeper payments here.

Something different for Easter holidays at home: Lego Challenge

With the Easter holidays having commenced in Victoria, here’s something to keep your kids busy at home, in lieu of normal scheduling…

Donegan’s teams to work remotely (click for link)

In accordance with the latest advice issued from state and federal authorities regarding COVID-19, and in anticipation of further measures, the majority of the Donegan’s Edmondson Turner and Donegan’s Wealth Advisers team will now begin working remotely from Tuesday 24th March, until further notice.

Please see attached for full statement

 

 

Statement on working procedures during Covid-19 outbreak (click for link)

You will all no doubt be following closely the news and evolving government guidelines in response to the COVID-19 outbreak which is impacting individuals, businesses, industries and entire economies globally.

As the situation continues to change, we wanted to let you know Donegan’s current position and how we are responding to ensure that we are able to continue to service you as clients effectively, as well as play our part as responsible citizens in minimising any potential spread and “flattening the curve”. 

At Donegan’s, our priority is the health and wellbeing of our clients and our team.  Please see attached for full statement.

 

A new home for Donegan’s Edmondson Turner

In 2019, Donegan’s Accountants and Edmondson Turner & Co (ETCO) merged into a single practice, Donegan’s Edmondson Turner (DET), with operations split across offices in the City and Brighton.

Having aligned work processes and systems, and familiarised ourselves with a new roster of clients, the time has now come to bring the DET offices all together into a new home. This will enable more efficient collaboration internally and a more streamlined service offering for clients.

From Monday 20th January 2020, we will be consolidating our teams into one single location at our city office at 377 Little Lonsdale Street. The Brighton office space will no longer be in use; operations there will cease at 5pm on Friday 17th 2020.

Donegan’s Edmondson Turner are committed to making this process as smooth as possible. The former ETCO team will continue to use their existing @edmondson.com.au email addresses, while the main line 03-9596-7522 phone number will also remain in operation.

While we encourage all clients and partners to update your records and use the below address for any correspondence as soon as possible, we will also maintain a forwarding service for any mail sent to Bay Street for the indefinite future. This will ensure that anything you have sent or may send to us reaches us as intended.

Meanwhile, our city office has been undergoing renovations in order to better meet the needs of our expanding team and clients. This move concludes some of the opening stages of this new journey for Donegan’s Edmondson Turner, and we are so excited for what’s to come.

 

Phil, Alison, Owen, Bernard, & the DET team
Donegan’s Edmondson Turner

SRO reminder on Vacant Residential Land and Absentee Owner Notifications

Notifications for vacant residential land tax and the absentee owner surcharge are due by 15 January 2020. If you made a notification last year, you only need to make a new one if your circumstances have changed. 

Vacant residential land tax

If you own a property in one of 16 council areas that was unoccupied for six months or more in 2019, you must notify the SRO via their vacant residential land tax portal.

You can use the SRO’s online tool to determine whether you have to pay vacant residential land tax.

Absentee owner surcharge

An absentee owner surcharge applies to Victorian land owned by an absentee individual, corporation or trust. If you are an absentee owner, you must notify the SRO via their absentee owner notification portal.

You can use the SRO’s online tool to determine whether you have to pay absentee owner surcharge.  Please contact us for any enquirers also.

From the 2020 land tax year, the absentee owner surcharge is 2%.

Opening ours during Christmas 2019/New Year 2020
Please note the Donegan’s offices will be closed from:
12:30pm Thursday 19 December 2019 through to 8:30am Monday 6th January 2020.

We look forward to catching up with you in the New Year!

18.12.2019

Market Update – December 2019

19.11.2019

Market Update – November 2019

 

30.10.2019

Market Update – October 2019

19.08.2019

Market Update – August 2019

25.04.2019

March 2019 Market Performance

 

02.04.2019

February, 2019 Market Performance Update

19.02.2019

January, 2019 Market Update

19.02.2019

December 2018 Market Update

19.12.2018

Office closure dates for the Christmas Period