Question

You are to research the following:

a. Research How Australians Pay at the following Reserve Bank of Australia website:

https://www.rba.gov.au/snapshots/how-australians-pay-snapshot/

Evaluate two (2) impacts of a move away from the use of cash for the financial services industry.

b.As a result of a move to Cryptocurrencies additional corporate regulations apply. Outline two (2) changes to regulations.

In your response refer to Capital Gains Tax(CGT) treatment and requirements to register with theAustralian Transaction Reports and Analysis Centre(AUSTRAC). Access this changes at the ATO & AUSTRAC.

c. What is the current trend and what has been the changes in wages since 2015?

Research wages growth for the Australian economy. Refer to the ABS website below.

https://www.abs.gov.au/statistics/economy/price-indexes-and-inflation/wage-price-index-australia/latest-release

d. From the research outline (2) two impacts on financial services of this trend in wages growth.

a.Wage theft describes the practice of paying workers less than they are entitled to under Australia's workplace relations system.

Access and searching the following website and answerhe following:

https://www.fairwork.gov.au/awards-and-agreements/awards/find-my-award/

What award is an accountant working in the finance, banking and Insurance industry covered by?

b.What is the entry Level 1 minimum annual salary?