The personal income tax cuts legislated to commence on 1 July 2024 will be realigned and redistributed under a proposal released by the Federal Government.

The 120% skills and training, and technology costs deduction for small and medium business have passed Parliament. We’ll show you how to take maximise your deductions.

The tax refund many Australians expect has dramatically reduced. We show you why.

Most business owners know that Superannuation should be paid 28 days after each quarter.

But did you know the impact paying super late can have on your business?

The ATO are introducing Single Touch Payroll Phase 2 (STP2) which requires employers to report even more detailed payroll information.

Xero are gradually rolling out the setup of STP2 in three parts, with Step 1 available now.

A subsidy of $1,500 per fortnight per employee, administered by the ATO, will be paid to businesses that have experienced a downturn of more than 30% (50% for businesses over $1bn).

Good News for those looking to get more into their Superannuation Fund With the announcement of the Average Weekly Ordinary Time Earnings (AWOTE) figure for the December 2020 quarter, superannuation contribution caps are set to increase from 1 July 2021 for the first...

OUR TOP 10 MOST EFFECTIVE BUSINESS TAX PLANNING STRATEGIES The end of the 2020/21 financial year is almost here and now is the time to review what strategies you can use to most effectively minimise your businesses tax.

If your business has been adversely impacted by the recent lockdown in NSW, support is coming. The NSW and Federal Governments have announced a series of new measures to support business during extended lockdowns of four weeks or more:

Support for small business tenants The NSW Government enacted the Retail and Other Commercial Leases (COVID-19) Regulation. This requires property owners to negotiate rent relief agreements with eligible tenants in financial distress due to COVID-19.

The NSW JobSaver, which provides payments of up to 40% of weekly payroll, is jointly funded by the state and Commonwealth governments.

Australia’s Director Identification Number (DIN) regime came into effect on 1 November 2021 and will require you to register for an identification number.

The NSW Government has announced a $1bn support package for struggling NSW small businesses.

The introduction of Single Touch Payroll (STP) has changed the year-end processes for both employers and employees.

This is a safe, ballot box friendly Budget as expected with a focus on jobs, cost of living, home ownership, and health.