Resources

Crypto assets are being specifically excluded from being foreign currency for income tax purposes, with exposure draft legislation released.

The ATO is resuming debt recovery action and issuing director penalty notices. If you’ve received a DPN letter about personal liability for business debt, talk to us so we can help manage your finances and your business ops can continue uninterrupted.

Not sure about the guidelines for cashing out annual leave? You need to know some essential rules before paying out annual leave so that employees are not disadvantaged. Talk to us, and we'll help review your payroll and leave obligations.

The $450 threshold for super eligibility is removed from July 2022. This could impact payroll costs. If you rely on a pool of casual workers who earn less than $450 per month, talk to us. We can help you prepare for the increased cost.

Do you know the difference between a financial and management accountant? If you’re keen to grow, switching to the benefits of management accounting could have a huge impact on your future destiny.

From 1 July 2022, new electric vehicles under the luxury car limit will be exempt from fringe benefits tax. This means that an electric vehicle under $84,916 can be salary packaged for a substantial tax benefit.

The way to calculate a working from home deduction for running expenses has been adjusted from 1 July 2022, with the ATO issuing a new hourly rate and changes to previous years.

With the ATO’s new directives on the taxation of trust distributions, it's essential to review arrangements. Once finalised by the ATO, the new rules will apply from July 2022. Talk to us about the best beneficiary arrangements.

Do you operate a trust for investment or business purposes? Trust management can be complex but worthwhile to protect assets, streamline the tax return process and maximise allowable deductions. Talk to us about how we can help manage your trust.

Have you thought about the compliance needs of your business? We’ll explain the legal, accounting and tax requirements and how you set the right foundations.

Do you fully understand the impact of your business activities on your cash flow? Your cash flow statement can give you great insight into business operations. Book a session today to examine your financial reports.

Not sure if you’re earning personal services income or conducting a personal services business? Special rules apply to PSI. Talk to us and we’ll check the type of income and ensure you are claiming the maximum allowable deductions and not being overtaxed.

If you are being kept up at night considering major challenges to your business and what to do about them, get in touch. We are here to help.

Do you know when your business should register for GST? If you're not charging GST, check your income to know when to register with the ATO. Most businesses must register at $75k, but there are special rules for some. Talk to us to get set up.

Major lenders Westpac and National Australia Bank will face the House of Representatives standing committee on economics this week as it delves further into banking practices.

Australia’s mothers have missed out on more than $1.6 billion in retirement savings because the government refuses to pay super on its parental leave scheme.

The Australian Small Business and Family Enterprise Ombudsman has welcomed the Commonwealth Bank’s decision to implement automatic “least-cost routing” for those with a turnover of less than $250,000.

Over 80% of NSW and Victoria SMEs plan to thrive after lockdowns

Australia Weekly Digest - 22 September 2021

Australia Weekly Digest - 14 July 2021