The latest Financy Women’s Index (FWX) for the September quarter has shown the superannuation gender gap is closing, with true parity between men and women now predicted to be achieved in a more rapid timeframe.
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To this end, the FWX superannuation sub-index rose by 0.6 points to 79.2 points during the quarter partly on the back of improved female wage growth. This resulted in the estimated period of time it will take to completely close the gender gap falling to 13.9 years, down from the previously predicted 17 years.
FWK author Bianca Hartge-Hazelman noted the superannuation sub-index now has the second-shortest timeframe to equality of any sub-index after ASX 200 boards, forecast to be 4.7 years.
“Closing the gender gap in superannuation savings is a crucial step forward to improving the long-term financial security of women, given that they are more likely to spend time out of the paid workforce caring for loved ones,” the report stated.
Overall, the FWX rose 0.12 points over the September quarter to 79.44 points, a new record high with underemployment and superannuation elements playing a key role in the result.
“This record high is reflective of fragile progress. While we celebrate the gains in superannuation and hours worked, the cracks appearing in childcare confidence and the stagnation in board diversity serve as a stark reminder that our progress is not yet cemented in strong foundations,” Hartge-Hazelman said.
Women’s full-time employment fell slightly (0.1 per cent) in the quarter, as part-time employment rose by 1.2 per cent, and participation rates retreated from recent highs as childcare usage dropped following recent safety failures.
“When families can’t trust the childcare system, women step back from work and men stay out of the care workforce – reinforcing the idea that caregiving is ‘women’s work’,” Deloitte Access Economics associate director and FWX Advisory Committee member Rhiannon Yetsenga explained.
“Breaking that cycle starts with affordable, high-quality childcare, unlocking more equal participation and a more balanced gender workforce over time.”
Lawrence Poletto, Principal of Poletto accounting is a Fellow of CPA Australia, holds a Bachelor of Commerce (JCU) and has over twenty years’ experience in Commercial and Public Practice.
With this experience, Lawrence can assist with all accounting and taxation needs to help clients start and grow their business. Lawrence deals with clients from all walks of life, working with diverse client base across a wide range of Industries. He builds strong trusted relationships and support clients in their times of need.
Lawrence can assist with all Tax and Accounting for small to medium business including assistance and guidance with setups, ongoing support including cloud-based accounting, budgeting, performance monitoring, support for loan applications and more.
Lawrence enjoys working with business owners who are seeking taxation, accounting, or business advice from a trusted professional. The more certainty he can provide his clients, the more they can focus on their business. Clients appreciate Lawrence’s professional and approachable manner.
At Poletto Accounting you will be one of only a limited group of equally important business clients and will always receive prompt, personal service.
We believe in Fixed price packages with easy payment option’s so you know exactly what you’ll be paying.
Contact Poletto Accounting to get a complimentary tax review, to see how we can help you and to get a second opinion on where you are with your business and taxes.
Business Tax
Poletto Accounting provides a full range of business accounting services for small to medium-sized businesses. We work collaboratively with business owners to meet your reporting requirements and regulatory payments and to help you achieve your financial and business goals.
We can assist through:
Income Tax Planning & Strategies
Preparation of all Business Income Tax Returns and associate Reporting
Goods & Services Tax (GST) review
BAS compilation and lodgement
Small business concessions calculations and advice
Liaising and negotiating with the Australian Taxation Office (ATO)
Assistance in formation and set-up of companies, trusts and partnerships
We can assist in setting up your new business, provide business advice and planning to give your Business its best chance of success. We can guide you on the following:
Decide on the most suitable structure for your business – sole trader, partnership, trust or company
Prepare a business plan, cashflow projections, budgets, and trading forecasts
We take care of all your legally required registrations such as registering a business name and applying for an Australian Business Number and Tax File Number. You may also need to register for GST and PAYG withholding, workers compensation and more and we’ll let you know if these apply to you
Complete registration procedures with Australian Securities and Investments Commission
Set up your software and bookkeeping systems
We offer Fast and easy setup for your new business.
Need help with your cloud accounting and Bookkeeping system? Not sure which program is best for your business? We can assist with all your cloud accounting needs, whether its Xero or other software.
Poletto Accounting is a Certified Xero Silver partner and can assist with:
Assistance with Cloud Software selection and implementation
Set-up and installation of XERO, MYOB, Quickbooks and other Accounting Packages
We can assist with recommending Bookkeeping Services that will suit your business
We also can work with your existing bookkeeper to ensure the most efficient and effective recording of your data and will improve the efficiency of the year-end compliance process
We can help give back time and resources you need to focus on growing and developing your business.
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Email is very convenient in our business world, there is no doubting that. However email messages and attachments can be intercepted by third parties, putting your privacy and identity at risk if used to send confidential files or documents. Secure File Transfer eliminates this risk.
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Poletto Accounting is committed to providing quality services to you and this policy outlines our ongoing obligations to you in respect of how we manage your Personal Information.
We have adopted the Australian Privacy Principles (APPs) contained in the Privacy Act 1988 (Cth) (the Privacy Act). The NPPs govern the way in which we collect, use, disclose, store, secure and dispose of your Personal Information.
A copy of the Australian Privacy Principles may be obtained from the website of The Office of the Australian Information Commissioner at https://www.oaic.gov.au/.
What is Personal Information and why do we collect it?
Personal Information is information or an opinion that identifies an individual. Examples of Personal Information we collect includes names, addresses, email addresses, phone and facsimile numbers.
This Personal Information is obtained in many ways including correspondence, by telephone and facsimile, by email, via our website www.polettoaccounting.com.au, from your website, from media and publications, from other publicly available sources, from cookies and from third parties. We don't guarantee website links or policy of authorised third parties.
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Sensitive information is defined in the Privacy Act to include information or opinion about such things as an individual's racial or ethnic origin, political opinions, membership of a political association, religious or philosophical beliefs, membership of a trade union or other professional body, criminal record or health information.
Sensitive information will be used by us only:
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For a secondary purpose that is directly related to the primary purpose
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Where reasonable and practicable to do so, we will collect your Personal Information only from you. However, in some circumstances we may be provided with information by third parties. In such a case we will take reasonable steps to ensure that you are made aware of the information provided to us by the third party.
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Your Personal Information may be disclosed in a number of circumstances including the following:
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Your Personal Information is stored in a manner that reasonably protects it from misuse and loss and from unauthorized access, modification or disclosure.
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You may access the Personal Information we hold about you and to update and/or correct it, subject to certain exceptions. If you wish to access your Personal Information, please contact us in writing.
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This Policy may change from time to time and is available on our website.
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