Business Insights
Delve into the fiscal changes of 2024 as we explore the impact of rising interest rates on Division 7A loans. Learn how these changes affect bank covenants and discover strategies for tax planning. Explore options like dividends, debt-to-equity conversions, and fund procurement, but remember to consult experts for personalised guidance.
Choosing the right website platform can be challenging, but it's essential for businesses of all sizes. This blog post discusses the factors to consider when selecting a website platform, such as your goals, budget, and technical expertise. It also provides tips on how to create a captivating online experience that connects with your audience.
Discover the latest developments post-2022-23 Federal Budget as the Technology Investment Boost and Skills and Training Boost clear parliamentary hurdles. Unveiling a significant opportunity for businesses with under $50 million turnover, this blog unveils the 120% tax deduction for technology and skills expenses. Get ready to maximise these advantages with essential insights provided here
In this blog post, we explore the newly introduced Small Business Technology Investment Boost and Small Business Skills and Training Boost, which provide small business owners with additional deductions on their tax returns. Discover how you can leverage these boosts to maximise your business's tax benefits while embracing digital innovation and investing in employee training. From understanding the eligibility criteria to tips on claiming the deductions and staying updated with Super Guarantee requirements, this post equips you with the knowledge to optimise your business tax return and propel your small business towards success.
This article discusses the Australian Taxation Office's updated guidelines on how to differentiate between employees and independent contractors, and the impact of these changes from a tax accounting perspective. Learn about the new approach, the factors that will be assessed, and what employers can do to ensure compliance with the legislation.
The ATO will be ramping up their audit activity this year, here’s why you should consider audit shield cover
As previously communicated, the Federal Government introduced a regulation that will need to be adhered to by anyone that is a director of an Australian company. This applies to ALL companies, whether they are trading companies, trustee companies (i.e. Companies that are trustees of a Self-Managed Super Fund or a Family Trust), private companies and public companies.
Reminder: Changes to the Super Guarantee
The ATO is reminding small business owners to pay the correct amount of superannuation for their eligible employees by the due date to avoid paying the superannuation guarantee charge (SGC).
The Government has reinvigorated the 120% skills training and technology costs deduction for small and medium business.
An election ago, the 2022-23 Budget proposed a 120% tax deduction for expenditure by small and medium businesses on technology, or skills and training for their staff. This proposal has now been adopted by the current Government and details released in recent exposure draft by Treasury.
The ATO has now released Draft Taxation Ruling TR 2022/D1 Income Tax: Section 100A Reimbursement Agreements.
If you operate within a trust structure, it’s vital you know about this ruling. While it’s complex information, we will try to break it down for you as much as possible. Read on…
Are you aware of the two new incentives that were released in the March Budget? The Skills and Training Boost, and the Technology Investment Boost were both mentioned and released, however they aren’t legislated yet.
Making superannuation payments on behalf of your employees prior to June 30 is an important tax planning strategy. When to pay your employees' Q4 super guarantee (SG).