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- Stop Press: Single Touch Payroll to cover all Businesses from 1 July 2019 The extension of Single Touch Payroll (“STP”) to employers with 19 or less employees has finally passed both Houses on 12th February 2019, after amendments were tabled late last year. This will mean that employers with 19 or less employees will have to report under STP rules from 1 July 2019. Businesses with 20 or... Read more » 13.02.2019 | Read more
- Guide to making motor vehicle claims A perennial topic regarding tax deductions is claiming expenses for a car. The following notes summarise the most salient points when it comes to claiming a deduction for motor vehicle expenses. Of course every person’s circumstances may be different, but the following covers most of the relevant information. Key points to keep in mind include:... Read more » 6.02.2019 | Read more
- Cyber Security Small Business Program – Grants A new Grants program for SME’s has recently been announced and is provided to eligible small businesses. What does it offer? Grants up to $2,100 will be provided to small businesses (with 19 or fewer employees) for up to 50 per cent of the cost of a certified small business health check. The health check... Read more » 16.12.2018 | Read more
- Do you need an agreement with your business partner? Going into new business with other people is exciting and can be extremely rewarding. A formal agreement can set the ground rules and stop owners getting caught out if things don’t quite go as well as planned. Whether your firm is structured as a partnership or a company, you and your business partners need to... Read more » 6.12.2018 | Read more
- Ten Things the Best Founders Do Bain & Company through their “Founder’s Mentality” concept that has been extensively researched, have concluded that: Leaders and the front line staff must share a bold mission, a focus on the needs of their core customers, and a commitment to develop the routines, behaviours and talent that transform their business and industry. Only 1 in... Read more » 20.11.2018 | Read more
- The work Christmas party It’s not quite Christmas time yet, but most businesses will be in the process of thinking ahead to the yuletide festivities, if not already into well-advanced planning. One of the perennial questions is if and how fringe benefits tax applies to these activities. There is no separate fringe benefits tax (FBT) category for Christmas parties... Read more » 6.11.2018 | Read more
- Changing Your Tax Return After It’s Lodged Say for example that we have already lodged your 2017-18 tax return and forwarded your notice of assessment to you saying that everything is as discussed, but you then realise that something has been left out of your return, or you accidentally included an extra deduction or doubled one up. There’s no need to panic... Read more » 16.10.2018 | Read more
- Are You Planning To Sell Your Business? From the moment you acquire or commence a business you should assume that one day you’ll want to sell or merge your business with another business. To enable the best possible return, you should always keep the business in a “saleable state”. If you decide to sell your business today and want to list it... Read more » 16.10.2018 | Read more
- Director Penalty Notices Changes coming to the Director Penalty Notice regime. The most dreaded weapon in the arsenal of the Australian Taxation Office (ATO) is the “Director Penalty Notice” (DPN) and its powers are being broadened and expanded to increase the liabilities for all directors. A DPN is a notice that the ATO can send to a director... Read more » 18.09.2018 | Read more
- Self-employed? You can claim a deduction for saving for your retirement A recent change to the rules around superannuation means that more Australians may be eligible to claim a tax deduction for putting money into super. Before June 30, 2017, if more than 10% of your income was sourced from salary or wages from an employer, you were rendered ineligible to claim any tax deduction for... Read more » 10.09.2018 | Read more