Operators of sharing economy platforms now required to report transactions to the ATO from 1 July 2023. If you operate in these platforms, such as ride share or short-term accommodation, make sure this information comes to us for your tax return.
Starting a new business in the retail industry in Australia can be an exciting and challenging endeavor. The retail industry in Australia is one of the most competitive in the world, and it's essential to have a well-thought-out plan in place before launching your business.
Tracking stock levels, costs and profit on every product you sell can get pretty complex – no wonder so many businesses have a fuzzy understanding of their inventory. But inventory accounting is too important to ignore. We can help.
Operators of sharing economy platforms will be required to report transactional information to the ATO from 1 July 2023. If you are operating in these platforms, make sure your information comes to us when we complete your tax return.
The new 'Secure Jobs, Better Pay' Bill 2022 brings major changes to employment laws. While most of the changes roll out over the next 6-12 months, some take effect now. Talk to us about reviewing your HR documents.
Does your business need to improve its cash position? Poor cashflow is a problem for many businesses, whether you’re a start-up or an established family business. Talk to us about how you can get proactive with cashflow management.
Want expert help with managing your building and construction industry finances? Get in contact today for a review of your business systems, and let us help you to thrive. Using the right tools for the job always makes things easier.
You’ve sold your business and have the money burning a hole in your pocket. What happens next? We’ve got some great options for your post-exit life to consider.
The October 2022 Federal Budget contains measures which may provide you with an ability to earn some extra income without hurting your social security entitlements, to ease cost of living pressures.
If you’re not already using Single Touch Payroll Phase 2 in your payroll software, you may have more time before you have to start using STP 2. Talk to us today to check your payroll systems and software before upgrading to STP Phase 2.
Are you across the recent payroll and employment law updates? We can help check your payroll setup, award provisions, employee agreements, and payroll costing. We can also assess if your software is ready for ATO STP Phase 2 reporting.
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.
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.
Do you offer your employees benefits in addition to salary and wages? If so, you may need to report FBT. Fringe benefits can help employees reduce their taxable income but you need to take care of the admin. Get in contact to learn more.