Budget Tax Reliefs And Incentives For Individuals Tax Payers
The much-anticipated federal budget was announced by treasurer Josh Frydenberg bringing in benefits and relief to both citizens of Australia and migrants to the country mainly aimed at bringing Australia out of the Covid pandemic and the detrimental impact it had on the economy as a whole. Under the coalition government tax cut plan lower-…
Read MoreMedical And Healthcare Providers Under The Spotlight Over Payroll Tax Obligations
To comply with current payroll tax laws, Medical and healthcare clinics using service entities to engage clinicians must check their service entity arrangements. If your clinic currently engages clinicians such as medical practitioners and allied healthcare professionals – such as dentists, optometrists, and physiotherapists – the payroll tax authorities within Australia will now be closely…
Read MoreTop 3 Business Consulting Strategies For This Pandemic
The market has already started bouncing back. But for most of us, the pandemic has changed the way we run our consulting companies. But that doesn’t mean you need to sit still waiting for things to get back to normal. Play the offence instead. Many companies-including your prospective customers-are facing new challenges. They willingly invest…
Read MoreVictorian Government announced a third round of the Business Support Fund Grants
Victorian businesses will have access to a $3 billion support program as the Victorian Government announced a third round of the Business Support Fund Grants on Sunday 13 September 2020. The program includes cash grants, cashflow support and tax relief providing additional financial support to businesses impacted by restrictions in Victoria. Grants up to $20,000…
Read MoreHow Business Consultants Help Companies Emerge New Ideas From Pandemic
Spring is emerging. Some curves are bending. Some parts around the world are easing the lockdown. Yet families are still suffering under those curves and much of the global economy remains frozen. With each challenging new week of the pandemic, CEOs gradually transition their focus from protecting business to recovery to retooling and asks: How…
Read MoreBasics of Setting Up a SMSF
A Self-Managed Superannuation Fund (SMSF) is set up to provide benefits during retirement to its members. It is just like a normal Superannuation Fund but with a higher degree of control exercised by its members, who are also the trustees. The trustees can tailor the fund to cater to their respective needs. The definition itself…
Read MoreDo you need a CPA?
What does a CPA do? The benefits of a CPA A CPA or Certified Practising Accountant is a highly regarded professional qualification in accounting, finance, and business. A CPA must have a large depth of knowledge and professional expertise and experience which can provide business owners with extremely useful advice & services that may not...
Read MoreCompany Taxes in Australia
Key tax requirements for your company, and how they work In terms of business structures, expect your tax requirements as a company to be far greater. Tax on profits, any capital gains made, your goods and services rendered, employee benefits, and even your payroll are just some of the taxes you will encounter as an...
Read MoreBenefits of a Self-Managed Super Fund
Many questions are always asked by our clients such as “should I set up a Self-Managed Super Fund” or “can I benefit from a SMSF?” There’s a lot of factors to consider about super funds but to start there are 3 options available to you which include retail, industry, or Self- Managed Super Fund. It’s…
Read MoreHow much does a small business accountant cost?
Why it’s important to understand small business accountant fees Whilst there are many considerations to be made in the course of running a business, the cost of accounting services for small businesses is of utmost concern. As a small business owner you should have the right to know how much you can expect to pay…
Read MoreImportant Tax Tips for Australian Small Businesses in 2020
Tax filing is that time of the year when most businesses are at their wit’s end. While some businesses may lay confidently due to organised books and complete financial awareness, a lot may be under stress. Most businesses are seen scrounging for past receipts and reading up on the latest tax deductions at the last…
Read MoreProvisions by the Australian Government to Ease the COVID-19 Financial Crisis
The Coronavirus Pandemic has become a major concern for economies worldwide. It is a double edged sword which is affecting both financial as well as health status of nations. Moreover, due to the uncertainty attached, mental, physical and economical stability have all become a matter of concern. In such a bleak situation, global governments are…
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