With the deadline looming for company directors to obtain their ‘director ID’ number, the Government has launched an awareness campaign aimed at those who may not realise they need to take action. The campaign is targeting those that run small businesses, self‑managed superannuation funds, charities, not‑for‑profits, and even some sporting clubs. A director ID is…
This week, Federal Treasurer Dr Jim Chalmers handed down his first Labor Government Federal Budget. As expected, it delivered on key election commitments relating to aged care, childcare, education and acknowledged cost of living challenges with some practical solutions including lowering prescription costs. Following is a quick overview for business owners and individuals.
Small business tax incentives for training and upskilling employees and improving digital and tech capacity are back on the table.
The Federal Government has expanded the list of State and Territory COVID-19 grant programs that may be tax-free to eligible businesses.
Business fundamentals include reliable cashflow, tax planning and effective systems. These are instrumental for getting through the tough times, but even more importantly, for being ready to capitalise on opportunities when they come. Here we overview the business fundamentals you need to have in place …
The High Court has rejected a taxpayer’s attempt to disclaim an interest in trust income that arose as a result of a default beneficiary clause being triggered.
Employers are reminded that their Superannuation Guarantee obligation for the 1 January 2022 to 31 March 2022 quarter is due by 28 April 2022.
Eligible companies have a 12-month extension to claim a loss carry-back tax offset in the 2023 income year.
The ATO has reminded employers to consider their tax and super obligations when employees are provided with incentives or rewards for getting their COVID-19 vaccination. When employees are provided a cash payment, including paid leave for employees to get their COVID-19 vaccination (or additional paid leave to recover from any vaccination side effects), employers should…
The Government has recently extended the SME Recovery Loan Scheme by a further six months (to 30 June 2022) to support SMEs adversely economically affected by the Coronavirus Pandemic.