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…
Tax saving strategies prior to 1 July 2020. A good strategy to reduce tax payable is normally to accelerate any income tax deductions into the current income year, which will reduce overall taxable income in the current year. A certified tax advisor can help with tax minimisation strategies and planning Tax Return Checklist: Claims for…
Practice Update June 2020 covers following points: JobKeeper Declaration Due 14 June ATO Reminder for Employers – Finalise STP Data for 2020 Guidance on JobKeeper Reporting via STP COVID-19 and Tax Depreciation Reports – are Physical Inspections Necessary? Click here for Practice Update June 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…
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…
Practice Update May 2020 covers following points: Coronavirus: Government’s JobKeeper Payment Shortcut method to claim deductions if working from home SMSFs may be able to offer rental relief to related party tenants ATO reminder about salary packaged super Click here for Practice Update April 2020
Practice Update April 2020 covers following points: Coronavirus: Government announces new tax measures ATO’s support measures to assist those affected by COVID-19 New Laws can make directors personally liable for GST New super guarantee amnesty ATO on property investments New vacant land tax measures Click here for Practice Update April 2020
Close to the end of the working day on Monday 30 March, the Federal Government announced the introduction of a new JobKeeper Payment to assist eligible employers (and self-employed individuals) who have been impacted by the Coronavirus pandemic to continue paying their workers. The following is a broad summary of the key aspects of the…
The following is a broad summary of the key aspects of the Federal Government’s stimulus package set out by the Treasury and the NTAA. 1. Income support for individuals 1.1 Introducing a new Coronavirus supplement The Government has introduced the payment of a new Coronavirus Supplement of $550 per fortnight to eligible individuals receiving certain…
The Victorian Government released details of a $1.7 billion support package for local businesses that was prepared in coordination with the Treasury over the weekend. The Government also indicated that the Victorian 2020-21 budget will be differed in line with the Federal Government budget due to the uncertainty caused by the virus pandemic. The package…
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