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Cybercriminals enjoy a new, rich playground in online banking. Two-thirds of Australians use banking apps to manage their finances, overtaking internet banking last year as the most popular method for the first time. However, online banking scams have become one of the most common attacks reported by Australians over the past few years. Unfortunately, these attacks have a clear target – your life savings. Targeting Their Victims Various tactics are employed by criminals to target banking app users. These can include calling and emailing targets pretending to be their bank (in attempts to have them transfer money) or sending people spam emails that encourage them to download bogus versions of apps or click on malicious links to steal their login information. This spyware can monitor your keystrokes if you have spyware on your phone (resulting from downloading a compromised app.. The post Protecting Your Online Banking From Scammers first appeared on Scott Associates Updates.

This year has unveiled many concerns about employee underpayments from businesses across different industries by the Fair Work Ombudsman. It is legally defined as the deliberate and dishonest withholding of wages from employees or the falsification or avoidance of keeping employer records to obtain an advantage. Also known as wage theft, employee underpayments fail to comply with the required National Employment Standards. However, not all acts of wage theft are malicious. Here are 7 mistakes that can lead to major employee underpayments: Incorrect Calculations In Overtime Provisions  When organisations do not ensure every ruling on overtime has been considered for employees, mistakes are made. Many employee awards have numerous sections on overtime – for instance, in the ‘overtime’, ‘breaks’ and ‘part-time work’ sections. One often overlooked ruling is overtime. Employees must receive a minimum of 10-hour breaks between shifts. If.. The post Wage Theft Is Major Concern For Fair Work Ombudsman This Year… first appeared on Scott Associates Updates.

If you have a Self Managed Superannuation Fund (SMSF), the Fund is considered to be a trust and must have a trustee. There are two options as to who this trustee can be. Barring a few exceptions, it can be individual members, or it alternatively can be a company with the members as the directors and shareholders of the company. The choice, either way, is that the trustee of an SMSF can be either an individual trustee or a company as a trustee. When choosing the appropriate trustee structure for your SMSF, a closer examination of the advantages and disadvantages will assist you in determining what is right for your needs. The Cost When looking specifically at the cost, a company as a trustee could initially cost around $1,000 or more to establish. An annual fee of roughly $50 will.. The post Why Pick One Trustee Type Over The Other When Setting Up Your SMSF? first appeared on Scott Associates Updates.

A solid budget that considers the necessary expenditure amidst the daily incidentals is more critical than ever. Amidst rising costs of living, budgeting could be the difference between living comfortably and living pay cheque to pay cheque. But how do you account for these expenses? How are you to map out your spending? Dividing your budget into the types of expenses that may account for your living expenses (the type of essential spending that takes up the bulk of your monthly expenditure). These may include home expenses, costs of basic necessities, transport expenses Home Expenses Home expenses. These costs include mortgages, property taxes, rent and home insurance. Costs that make your home “liveable”. Consider utility bills and waste removal service fees. Home maintenance fees. Think of the costs associated with repairing a roof, maintaining a lawn or fixing your heating.. The post The Different Types Of Expenses Your Budget Needs To Consider first appeared on Scott Associates Updates.

Were you aware that if you were to split up with your current partner, you may be able to file a legal claim for up to half your superannuation (under certain circumstances? In all states (bar Western Australia), you don’t need to be married, have kids or even own a house together for your super to be split in a relationship breakdown. The superannuation of both partners is included in the pool of assets to be divided upon the separation. According to the Federal Attorney General’s website, superannuation can be split either by: an order of the Federal Circuit and Family Court of Australia (or Family Court of Western Australia for married couples in Western Australia); or a superannuation agreement (a financial agreement that deals with a superannuation interest). The Family Law Act 1975 gives the Family Court the power.. The post Superannuation & Divorce: The Split Of Assets Isn’t Always 50/50… first appeared on Scott Associates Updates.