Business Insights
Discover the key superannuation changes from the 2024-25 Federal Budget, including new taxes on large balances, updates to Paid Parental Leave, enhanced fraud detection, and changes to contribution caps. Learn how these measures impact both individuals and businesses.
The extension of the instant asset write-off for another year provides eligible small business owners with the opportunity to claim immediate deductions for assets costing less than $20,000. This initiative, aimed at businesses with an aggregated turnover of less than $10 million, requires that qualifying purchases be installed and ready for use between July 1, 2024, and June 30, 2025. The $20,000 threshold applies on a per asset basis, allowing multiple write-offs.
Learn how to handle your business name renewal directly with ASIC and avoid extra fees from third-party providers. Get tips on distinguishing between genuine and scam notifications to protect your business. Need help? Contact us today!
Discover effective strategies for agribusiness and business tax planning with our essential guide on interim financial statements. Ensure timely and informed decisions to optimise your taxation position for the 2024 financial year.
Wondering why you need to make those 'PAYG Instalment' payments to the Australian Taxation Office (ATO)? We get it. The PAYG Instalment system can be a puzzle, especially if it's your first go-round or you're unsure about the payment amount.
Is one of your new year’s resolutions to start using automations in your business accounting software?
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