JobKeeper Scheme extended and amended
JobKeeper extended until March 2021 The government has announced changes to the JobKeeper payment scheme, which will see it continue until March 2021. The current system will remain unchanged […]
Read MoreNew Super Carry Forward Rules – Maximise Your Contributions
If your superannuation fund balance is less than $500,000, a new rule means you are now able to carry forward any unused concessional contribution from prior years into following […]
Read MoreHow to create a cash flow forecast for your business
A cash flow forecast is an important tool for business planning. And right now, understanding the cash coming in and going out of your business is vital. A cash […]
Read MoreTax Tips for Property Investors
If you have income from investment properties, now is the time to start gathering your records and reviewing your expenses for the 2020 financial year Income to Declare All […]
Read MoreCommon tax deductions for small business
There are many expenses common to most small businesses, and there are other expenses that are specific to the nature of the goods or services the business provides. Are […]
Read MoreGet Your Business Records Ready for Your Tax Return
Whilst it is not exactly business as usual right now, you still need to prepare for your business tax return. Organising your documents now will mean you can get […]
Read MoreReport PAYGW Correctly to Claim Tax Deductions
From July 1 2019, if employers don’t meet PAYG Withholding (PAYGW) obligations for its workers, by not withholding tax from their payments and not reporting it to the ATO, […]
Read MoreClaiming deductions for working from home to be made easier
The ATO are announcing a ‘working from home shortcut’ measure for people to claim running expenses, now they are working from home due to Covid-19 restrictions. The new measure […]
Read MoreJobKeeper Payment
The JobKeeper payment is for businesses and not-for-profits that are significantly impacted by the Coronavirus pandemic, and the measures in place to restrict it. The government package will give […]
Read MoreCOVID-19 Mandatory Commercial Tenancy Code – what’s involved?
The new mandatory code for commercial leasing arrangements means both parties need to negotiate a new agreement for the next six months. The Federal Government has released a mandatory […]
Read MoreDirector Penalty Law Extended to GST
Company directors have been personally liable to employee PAYG withholding tax and superannuation for some time now, but there has been a recent extension to that law, and it […]
Read MoreProtecting income with insurance
We all insure our cars and our properties but not all self-employed persons insure their income. Income protection insurance replaces the income lost through your inability to work due to injury […]
Read MoreDivision 7A… an innocuous phrase with a distressing impact
Australian Tax Law – Loans to Company Shareholders As a shareholder in a private company, it might be natural to think the company’s money is your money since, after […]
Read MoreCloud accounting for your business
The days of dealing with spreadsheets and files full of paper invoices and other financial information for your business have now become redundant and replaced with much more accessible, […]
Read MoreHow long should your business keep financial records
Once your business lodges a BAS or tax return (or any other document disclosing a tax liability), the owners/managers have effectively “self-assessed” their tax position. This means the information […]
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