EOFY Checklist for Businesses

The end of Financial Year 2022-2023 is rapidly approaching. As a business owner it is time to review your tax affairs, if not yet done, to ensure you are complying with next years regulations and to maximise any planning strategies going forward. The checklist below summarises some key points that may be relevant going into […]

Ace in the Hole: Budget 2023-24

The ‘ace in the hole’ of the 2023-24 Federal Budget was the $4.2bn surplus; the first in 15 years. Click here to download your guide to the budget, or read on for a summary. The surplus was driven by a surge in the corporate and individual tax take. High commodity prices, inflation, and high employment […]

What’s the Deal with Working from Home?

The Australian Taxation Office (ATO) has updated its approach to how you claim expenses for working from home. The ATO has ‘refreshed’ the way you can claim deductions for the costs you incur when you work from home. From 1 July 2022 onwards, you can choose either to use a new ‘fixed rate’ method (67 […]

Tips For Keeping Your Business Data Secure

It’s no secret that data loss can be a costly nightmare for a small business, with recent studies showing the average cost of a data breach in Australia is now $4.1 million. Unfortunately, cyber attackers increasingly target small businesses because they are less likely to have security protection in place. Accidental loss or loss due […]

Single Touch Payroll (STP) Phase 2 – It’s Time

Single Touch Payroll (STP) reporting was introduced to streamline the way employee payroll information is reported. STP Phase 2 has been rolling out since 1 January 2022. Many major software providers had applied for deferrals to get their software up to date. These blanket deferrals are coming to an end with the majority of providers […]

2022 – 2023 Budget Summary

There’s nothing in the 2022-23 Federal Mini Budget that will create a UK style crisis. The stage 3 tax cuts legislated to commence on 1 July 2024 are not mentioned, and most funding initiatives appear to be a reallocation of previous Government initiatives. With seven months before the 2023-24 Budget released in May 2023, this […]

Is a Business Mentor Worthwhile?

“Mentoring is a brain to pick, an ear to listen, and a push in the right direction.” — John Crosby The opportunity to learn from a mentor can do more for a small business owner than any course, educational program, or degree. Being a mentee means you get the benefit of first-hand experience, without having […]

FBT-free Electric Cars

New legislation announced and currently before Parliament, if enacted, will make zero or low emission vehicles Fringe Benefits Tax (FBT) – free. Why is the Government doing this and how can you access the concessions? Firstly, current Electric Vehicles (EV) represent just under 2% of the country’s national car sales — well behind New Zealand […]

Important: New domain name changes could leave your business at risk!

A new system was introduced to allow shortened domain names. The shorter simpler domain names will end in .au rather than .com.au, .net.au, .org.au, .gov.au or .edu.au. Business owners are being warned they could face an increased risk to their business in cybercrime amid changes to the Australian internet domains changing to .au. The rules […]

Protect Your Family Wealth with up-to-date Wills and Enduring Power of Attorney

Over the last few years, we’ve seen a growing interest in our clients starting to think about their estate planning and the general succession of assets and businesses. We know that estate planning may feel overwhelming, and a problem that always ends up in the ‘For later’ category. But it doesn’t have to be that […]