What’s ahead for 2024-25?
Will 2024-25 be another year of volatility or a return to stability? Personal tax & super As you would be aware (at least we hope so after a $40m public education campaign), the personal income tax cuts came into effect…
The essential 30 June guide
The end of the financial year is fast approaching. We outline the areas at risk of increased ATO scrutiny and the opportunities to maximise your deductions. For you Opportunities Take advantage of the 1 July 2024 tax cuts by bringing…
Small Business – Division 7A – What happens when I owe my company money?
There are many ways directors and shareholders can access private company money, such as through salary and wages, dividends, or complying Division 7A loans. Recently the ATO flagged that Division 7A is an area where they see many errors and are…
Beyond Balance Sheets – April 2024
Warning on SMSF asset valuations The ATO has issued a warning to trustees of SMSFs about sloppy valuation practices. ATO data analysis has revealed that over 16,500 self managed superannuation funds (SMSFs) have reported assets as having the same value…
SPRING IS HERE!
No one can deny it has been a long challenging Autumn and winter period, unlike any we have experienced before in life or business. But, we have made it through the coldest and shortest days of 2020 and its now…
JOBKEEPER 2.0
As many expected, this week Prime Minister Scott Morrison announced that the JobKeeper wage subsidy will be extended to help small businesses struggling through these crazy times. On Tuesday initial details of JobKeeper 2.0 were announced. A sigh of relief…
LIFE AFTER JOBKEEPER
In three months JobKeeper reaches it is legislated end date of 27 September 2020. JobKeeper has been fantastic in supporting small businesses to retain their key employee’s during these difficult and uncertain times. Other government incentives like the cash flow…
COVID-19: Be alert to superannuation early-access scams
The ACCC is warning small business owners and their employees about scammers taking advantage of the Australian government’s early-access to super measures using scams designed to steal your superannuation. Be careful – Scammers always use disguises by impersonating well-known business…
The begining of a new normal
The COVID-19 Pandemic has seen many world leaders use war messages & themes to rally their nations in fighting this virus. Unfortunately, war messages from our leaders fail to ignite enthusiasm from our business leaders and the community to think…
Landlords & Tenants
Are you talking with your tenant or landlord? Here is some guidance Many SMEs are currently wondering how they will make this month's rent payment, not to mention future months! There is an enormous amount of uncertainty around being able…