Taxation
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Government’s JobKeeper Payment Explained
Posted in Business Planning, TaxationYesterday the Federal Government announced a third stimulus package aimed at mitigating the effects of the Coronavirus and a slowdown of the economy as a result. Please note these measures are only new, haven’t been voted through parliament yet and until the actual legislation is published could be amended or adjusted once finalized. Briefly the new details announced: JobKeeper Payment Payments of $1500 a fortnight are available to: Eligible businesses per eligible employee Self-employed...
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Government’s Second Round Stimulus Measures
Posted in Business Planning, TaxationThe Federal Government on Sunday announced a second stimulus package due to the Coronavirus and its significant impact on society and business. These measures in total aim to inject $189 Billion into the economy in an effort to mitigate as much damage or downturn as much as possible. Briefly the new details announced: Casuals And Sole Traders If you receive or are receiving an eligible income support payment (Jobseeker, Youth Allowance, Parenting Payment, etc)...
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Government Stimulus Package To Combat Coronavirus
Posted in Business Planning, TaxationThe Government has announced a broad range of measures in an attempt to insulate small business from the effects of the Coronavirus, or COVID-19 as it is otherwise called. These measures will also hopefully prevent the economy into lapsing into a full-on recession. The measures announced are as follows: Delivering Support For Business Investment Increasing the instant asset write off threshold from $30,000 to $150,000 for businesses with a turnover less than $500 million...
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Want to switch accountants but think it’s all too difficult?
Posted in TaxationMaybe you have been considering changing your accountant for some time. But each time you border on the thought of actually going through with it, it seems like too much hassle. Largely, because you don’t know what’s involved and what processes you need to follow to make it happen. Then you might oscillate between should I/shouldn’t I: casting your mind back to all those times you had a question or request and had to...
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Last Minute Things You Can Do To Minimize Your Tax
Posted in Business Planning, TaxationWhether you’re a medical or dental practice, an engineering or building company or simply a salary/wage earner, the end of the tax year is fast approaching and there are some simple things you can do to hand over less money to the tax man post 30th June. The following is not an exhaustive list but just some of the things you should be thinking of: The now $30,000 instant asset write off for business...
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