Welcome to our March 2022 Bulletin Contents Immediate Deductions Extended Federal Budget 2022 – 23 Are Your Contractors Really Employees? Immediate Deductions Extended Temporary full expensing enables your business to fully expense the cost of: new depreciable assets improvements to existing eligible assets, and second hand assets in the first year of use. Introduced in…
Welcome to our February 2022 Bulletin Contents Year of the Tiger: Roaring or Bellowing? Professional Services Firm Profits Guidance Finalised PCR & RAT kits to be tax deductible, FBT free Pandemic Leave Disaster Payments rules change Cash injection for struggling businesses Year of the Tiger: Roaring or Bellowing? The 2022 Lunar New Year, Year of…
Welcome to our December 2021 Bulletin Contents Staff Gifts The Staff Christmas Party Client gifts Charitable gift giving The Backpacker Tax and the High Court 2022: The year ahead The top Christmas tax questions Every year, we are asked about the tax impact of various Christmas or holiday related gestures. Here are our top issues:…
Welcome to our November 2021 Bulletin Contents How to set up your Director ID SMSF Covid-19 Audit Relief Extended Overseas gifts and loans in the spotlight Tax and the Normalisation of Cryptocurrency How to set up your Director ID Directors are now required to register for a unique identification number that they will keep for…
In response to a recommendation by the Productivity Commission in 2020 the Commonwealth Government passed the Treasury Laws Amendment (Registries Modernisation and Other Measures) Act 2020 which is designed to centralise Australian business registers. This Act introduces a new requirement for all current and future directors of Australian corporations to permanently hold their own unique…
Welcome to our October 2021 Bulletin Contents Unwinding COVID-19 Relief SME Recovery Loans What happens to your superannuation when you die? Recruiting new employees? The 1 November superannuation rule changes Unwinding COVID-19 Relief COVID-19 support will roll back as states and territories reach vaccination targets. The National Plan, the road map out of COVID-19, does…
(28 JULY 2021 to 15 JANUARY 2022) The new Commercial Tenancy Relief Scheme Regulations 2021 (“the Regulations”) were released on 24 August 2021. These Regulations are different from the previous 2020 Regulations and the key provisions are as follows; Rent Relief Period Rent relief is available for the period between 28 July 2021 to 15…
$10,000 grants for eligible small and medium businesses that have experienced a reduction in turnover of at least 70%. Eligibility Criteria To be eligible, businesses must: be located within Victoria as a direct consequence of COVID-19 restrictions since 27 May 2021 have experienced a reduction in turnover of at least 70% for a minimum consecutive…
Welcome to our August 2021 Bulletin Contents Lockdown support: Update Are COVID-19 grants and funding tax free? Growing your business value Lockdown support: Update The support available to individuals and business has been constantly evolving and changing. Here’s a summary of where support stands around the country. For individuals From 2 August 2021, the COVID-19…
Welcome to our August 2021 Client information Bulletin Contents 6 Member SMSFs – the issues and opportunities Business in a post pandemic environment The National Plan’s impact on business New laws target sharing economy platforms 6 Member SMSFs – the issues and opportunities From 1 July 2021, the maximum number of members a Self Managed…