Many of us dream of running our own business, with all the independence and satisfaction that offers. While striking out on your own can be personally and financially rewarding, getting off to a good start is crucial to success. So if…

Running your own business can be rewarding, but there is also risk involved when you put your own money and reputation on the line. What would you do if your shop was destroyed by fire, a client sued over advice you gave, or your business was…

Individuals and small business owners who have taken advantage of the government’s COVID-19 support programs will find themselves increasingly under the tax man’s microscope in coming months. This is just one of the key developments occurring…

On 1 January 2021, new laws came into effect that introduce a new, simplified debt restructuring and liquidation framework for small business. Drawing on key features of the Chapter 11 bankruptcy model in the United States, the new system…

After huge success from previous years, Tax from your couch is here to stay! Tax from your couch   The process: First, get in touch. Email us when you are ready to begin, (or if you have received an email to us, click the link when…

There is something that was on our radar for our business goals, and that was to be completely Xero focused. We find the Xero platform superior over others and find it far more beneficial to be highly skilled with the best rather than some…

For many business owners, fear of incurring a Fringe Benefits Tax (FBT) bill has kept them from retraining and re-skilling their employees to perform different roles or activities within the business. But a new exemption announced by…

With the borders between the State and Territories all but open and 2021 in sight, there is a hunger for a return to ‘normal’. The recent Westpac-Melbourne Institute Index of Consumer Sentiment articulates this desire to ‘get on with things’;…

After a year when the average superannuation balance fell slightly or, at best, moved sideways, the summer holidays could be a good opportunity to think about ways to rebuild your savings while being mindful of tax. With the Reserve Bank…

Stimulating investment is high on the Government’s agenda. To encourage spending, the 2020-21 Budget introduced a measure that allows businesses with turnover under $5bn* to immediately deduct the cost of new depreciable assets and the…

This years budget is all about jobs In what has been billed as one of the most important budgets since the Great Depression, and the first since the onset of the COVID-19 pandemic dragged Australia into its first recession in almost 30 years,…

The first tranche of JobKeeper ended on 27 September 2020. Those needing further support will need to reassess their eligibility and prove an actual decline in turnover.  To receive JobKeeper from 28 September 2020, eligible employers…

If you are selling your business, merging, acquiring, or inviting in new investors, you need to understand the value of your business. But, to what degree does the pandemic impact on value? Should you discount or hold firm to pre COVID-19…

In addition to general waivers, reductions or rebates on some Government licensing and fees, each State and Territory has some form of support accessible to certain businesses impacted by COVID-19. Australian Capital Territory Support Description Closes Rate…

Additional business support has been announced to help eligible businesses with the latest restrictions. Weren't previously eligible for JobKeeper? Although you may not have qualified for JobKeeper originally, stage 4 lockdown may have…

The Victorian Government has announced that Stage 3 ‘Stay at Home’ will be in reinstated across metropolitan Melbourne and Mitchell Shire from 11:59 on 8 July 2020 to help slow the spread of coronavirus (COVID-19) in Victoria. These restrictions…

As all leaders can attest to, no leadership role is smooth sailing. There will inevitably be the occasional storm coming over the horizon, with different challenges you need to respond to. Sometimes these challenges will be unprecedented,…

On the back of the popularity of last years due date calendar, we have created a new one for this year. We usually hand out these posters during pre-EOFY tax planning sessions, however this year these were done on Zoom. If you would like to get your hands on one of these posters, please let us know.

  Company tax rate reduces to 26% for base rate entities Cents per km rate for work-related car expenses increase to 72 cents Expected reforms to allow 66 and 67 years olds to make voluntary superannuation contributions without…