In recent years, the superannuation guarantee (SG) has gradually increased by a set percentage. This increment is part of a continuous rise toward reaching 12% gradually, predicted to be achieved... read more →
As the year draws to a close, the significance of meticulous record-keeping cannot be overstated. It serves as the backbone of your year-end procedures, facilitating tax compliance, cash flow management,... read more →
Effective cash flow management is essential for the success and growth of any small business. Proper budgeting, forecasting, and managing finances ensure that your business remains solvent and can seize... read more →
The Federal Budget was handed down on 14 May 2024, and has outlined a number of changes that impact businesses, tax & superannuation. Instant Asset Write-Off Extended Small businesses with... read more →
In the latest federal Budget announcement, the commentary from Phillip Coorey, The Australian's Political Editor, captures the scene vividly: "Jim Chalmers is like a bloke who successfully dieted for two... read more →
For businesses in Australia, providing fringe benefits to employees can be a valuable way to attract and retain talent, as well as incentivise performance. However, employers need to understand their... read more →
As the end of the financial year approaches, businesses face a flurry of tasks and responsibilities to ensure a smooth transition into the new fiscal period. To help navigate this... read more →
For businesses, maintaining profitability and financial stability is essential for long-term success. At times, this can lead to costs needing to be cut. However, cost-cutting initiatives often evoke concerns about... read more →
For businesses operating in Australia, navigating the intricacies of the Fringe Benefits Tax (FBT) is essential to ensure compliance with tax regulations and minimise financial liabilities. FBT is a tax... read more →
The kids are back to school, workplaces are back to normal and business operations are underway for the year ahead. A new calendar year presents a perfect opportunity for entrepreneurs... read more →
A company car, travel expenses, workplace discounts. These are a few of the ways that your business can reward employees (or provide a bit of a perk throughout the course... read more →
At the end of this calendar year, you may be looking to shut down your business and give yourself and your employees a break after a long and drawn-out year.... read more →
With more security and fraud-related scams targeting vulnerabilities and attempting to commit identity theft and fraud, the ATO has changed the process for how tax agents can access your information.... read more →
As a business owner, one of the perks is the ability to claim tax deductions for expenses related to motor vehicles used in your business operations. This includes cars and... read more →
If you have a rental property, are you aware of the rules around claiming second-hand depreciating assets? Second-hand depreciating assets are depreciable items previously used or installed and ready for... read more →
While the hustle and bustle of operating and managing a business can occupy your mind, it’s important not to forget your superannuation obligations to your employees. Those who fail to... read more →
There are key differences between having a hobby and running a business, and they’re mostly to do with your tax, insurance and legal obligations. It's important to understand the characteristics... read more →
Small business owners may be able to claim deductions for the costs of using their home as a principal place of business when filing their income tax return. A home-based... read more →
Throughout the financial year, there may be periods where your business finds itself facing a recurring problem with its cashflow. Small businesses with cash flow issues may find themselves more... read more →
If you’ve made a major investment in the last financial year, any income made from it will need to be included on your tax return. Any income earned from investments... read more →