Not all wages are on the rise!

This is interesting data from Seek showing that not all wages are on the increase.

It’s a common headline: wages are on the rise. While that’s true for some, a closer look at the numbers reveals a more complex picture. The reality is that wage growth in the past year has been far from uniform, with significant disparities across different professions.

The Winners’ Circle

Several sectors have seen substantial pay bumps. Roles in healthcare and banking, for example, have experienced double-digit growth. Medical Registrars and Banking Managers have seen a 12% increase in their earnings. 

Holding Steady… and Falling Behind

However, not everyone is celebrating a bigger paycheck. Some high-paying professions have seen no wage growth at all in the past year. General Practitioners, and Engineering Managers, for example, have had stagnant wages.

Even more concerning, some like software application developers have seen a pay cut.

The Takeaway

The story of wage growth is not a simple one. While some professionals are enjoying a significant financial boost, others are finding their earning power has stalled or even reversed. As the global economy struggles with balancing increasing wages with no increase in productivity, pay increases can no longer be guaranteed.

This is the time of year we put together our annual benchmarks for our clients which by September, will give us a full understanding of the specific trends within the veterinary industry and whether or not profits are being maintained in light of ever increasing wages.

Could your business sink like the Titanic just because of your shared inbox?

As a business owner, you juggle countless tasks. It’s tempting to simplify things by sharing your inbox with a team member or a few. But relying on this shared inbox for your most critical communications is like steering the Titanic straight for an iceberg. It’s a disaster waiting to happen.

Your business’s survival depends on secure, confidential communication. Giving multiple people the keys to your central inbox creates a massive, unnecessary risk that could sink your entire operation.

At the risk of being blunt – for many years as an accounting firm we have tolerated business owners telling us not to send emails to a business email address with their name on it. For example jane.doe@yourbusiness.com. Here is the blunt part – this is not the way the digital world works anymore. If a business email has a persons name on it, then the assumption is that this is a private inbox belonging to that person. If you have such an email that you are sharing with staff members, then don’t point the finger when something very personal gets emailed there, for example discussions of firing an employee – you have created the problem, not the sender of the email.

If you do intend to use shared inboxes, then they must clearly be named as such, for example: reception@yourbusiness.com.

The Danger of the Shared Inbox

When you use a shared email for owner-level correspondence, you expose the heart of your business. Think about what comes to your inbox:

• Financial Information: Bank statements, payment notifications and confidential financial reports.

• Legal & HR Documents: Contracts, legal notices and sensitive employee information.

• 2 factor authentication: 2FA via email is still used for very private log-ins such as access to various software and payment systems

If an employee leaves on bad terms, or a password is leaked, all of this critical data is instantly vulnerable. There’s no accountability; you’ll never know for sure who accessed, deleted, or leaked a sensitive message.

Your Digital Command Centre: The Private Owner’s Email

The solution is simple: a private email address at your own domain (e.g., jane.doe@yourbusiness.com) that only you can access. This isn’t just about looking professional; it’s about control and security.

This dedicated inbox becomes your secure digital command centre. Here, you can safely manage the core functions of your business without fear of prying eyes or accidental deletions.

More importantly, you can properly secure it.

Locking the Vault with 2FA

A private account allows you to enable crucial security features like Two-Factor Authentication (2FA). You’ve likely used this for your banking—it requires both your password and a second code, usually from your phone, but sometimes to your email to log in.

It is the single best way to protect an account from being hacked.

You simply cannot implement effective 2FA on an inbox shared by multiple people. By its very nature, a shared account is fundamentally insecure. Securing your private owner’s email with 2FA is like adding a deadbolt to your digital vault.

Don’t let a simple oversight be the iceberg that sinks your business. 

Get Faster Answers: A Quick Guide to Our Expert Teams 

To help you get the answers you need as quickly as possible, here’s a simple guide to which expert to contact for your specific business needs. Reaching out to the right person directly will ensure a faster and more efficient response.

For Business Advisory & Strategy

If you’re asking questions like how is my business tracking?, are my staff performing well?, How can I improve profitability? your experts are:

Paolo, Anne and Renaei at APL Accountants

For Bookkeeping and Payroll

For all your day-to-day bookkeeping and payroll questions, please contact your dedicated bookkeeper at APL Accountants first. 

If they’re away, rest assured our team monitors their emails to ensure you’re always looked after. Donna oversees the bookkeeping team and is your point of contact if your usual bookkeeper is unavailable.

For Business Valuations – 

To understand the current value of your business for sale, succession planning, or any other purpose, please contact:

Renaei at APL Accountants 

Important Note on Tax and Tax Planning

For all matters related to tax returns, compliance, and strategic tax planning, please contact:

Kezah and Peter at James Noble Accountants. 

James Noble Accountants is a separate, specialist firm we partner with closely to provide you with expert tax advice. Please note that the APL Accountants team cannot directly assist with tax matters, so contacting Kezah and Peter directly is the best approach.

We hope this helps you get the support you need, faster!

Scam Alert: Annual Company Review Letters

We want to make you aware of a recent scam targeting business owners with registered companies. Several clients have reported receiving official-looking letters offering to conduct an “Annual Company Review” for a fee — typically ranging from $400 to $500. These letters appear legitimate but are not from ASIC and not from your accountant.

🕵️ What’s the Scam?

The letter usually:

• Refers to your legal obligation to complete an annual company review

• Offers to complete this review on your behalf

• Demands payment via card with a discount for early payment

• Uses formal language and formatting that mimics government correspondence

The catch? These services are unnecessary because your accountant already handles this as part of your compliance and ASIC requirements.

🚩 Red Flags to Watch Out For

• Emails or letters from unknown third parties. Check the email address of the sender

• Requests to make payment for “company compliance” or “review services”

• Urgent language or pressure tactics

• Letters with unfamiliar business names that appear official

Dog Tales – keep your personal data safe!

Technology has helped us in so many ways, but we do forget that it also comes at a cost. And one of these costs is that we have to be more careful about privacy and security. Things change so quickly and with amazing advances, sometimes something that was safe a few years ago might be really unsafe now. As the office dogs we often hear the accounting team worrying about having to try to remember that Dr X insists on not having anything sent to his work email box because he shares it with everyone.

Sharing passwords and email addresses is one of those things that was historically acceptable, but no longer safe.

In particular, Dr X, we strongly advise that if you have shared the password with the cat, you are in grave peril! You just cant trust that species.

Please leave us a google review

https://g.page/r/CQ05SoePxplyEB0/review