Our latest insights

Small businesses should know the Australian Tax Office has started to chase unpaid tax debts again in Victoria, NSW and the ACT as the three jurisdictions emerge from COVID-19 lockdowns.

The deadline for applications for Director Identification Numbers (DIN’s or Director ID’s) for existing Directors has been set.

Businesses must reaffirm their decline in TO fortnightly to be eligible for JobSaver payments in NSW.

In addition to recent Federal and States’ business financial support packages and loans – including JobSaver for NSW and Victorian businesses and Jobs Plus Program in NSW – there has been more news from the Morrison Government around additional help to small and medium sized businesses (SMEs).

If you are in a qualified profession or trade, it is important that you are aware of the ATO’s recent self-managed super fund around non-arm’s-length expenses.

With South East Queensland still feeling the effects of its recent spate of COVID-19 lockdowns – and Cairns entering one this week – the Queensland hospitality and tourism sectors have borne the brunt of the shutdowns.

Recently passed by Parliament is the Treasury Laws Amendment (More Flexible Superannuation) Bill 2020.

With the end of the financial year only a few weeks away, now is an opportune time to review your business affairs as part of your year-end tax planning. As we countdown to 30 June, here are some considerations as you wind up another financial year.

As the end of the 2021 financial year approaches, we outline new and existing measures for consideration around Superannuation Tax Planning.

In a measure designed to help first time home buyers to save a deposit more quickly, the Government will increase the maximum releasable amount of voluntary concessional (deductible) and non-concessional (after-tax) contributions under the existing First Home Super Saver Scheme (FHSSS) from $30,000 to $50,000.

Stuart Robert, as the new Minister for Employment, Workforce, Skills, Small and Family Business, now is your time to make change.

Every business owner needs to become fluent in financial literacy. If not enough attention is dedicated to this area, it can lead to an avoidable business downturn.