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Instant Asset Write-off extended

The Government continues to back small businesses with the announcement on June 9 that it will extend the $150,000 instant asset write-off by six months until 31 December 2020. Under the measure, the asset must be both acquired and installed ready for use by 31...

Planning your budget

A budget allows you to plan for how you’ll spend and/or save your money each period and also keep track of your spending patterns. Though making a budget may not sound like the most exciting activity, it’s important for keeping your finances in order and...

Vinnies CEO Sleepout Fundraising

As warm days begin to fade, the weather will soon change. Although a relief for some, for others it means cold nights and further suffering. That’s why we are so proud that our CEO, Michael Fox, is supporting Vinnies CEO Sleepout. For Michael, it’s his...

Do you have a Family Trust? Read now

With the end of financial year approaching quickly, now is the time to review what strategies you can use to minimise your tax before 30 June 2020. Save Tax – Avoid tax penalties by making your Trust Distribution Resolutions before 30 June 2020 Do you have a...

5 financial lessons we should learn from COVID-19

[vc_row row_type="row" use_row_as_full_screen_section="no" type="full_width" text_align="left" css_animation="" box_shadow_on_row="no"][vc_column][vc_column_text] By Aurora Pham The COVID-19 pandemic has had unprecedented impacts on everyone’s lives. We are seeing an extended period of economic and social uncertainty, and disruption lies ahead. Despite the Government’s economic support package, many Australians are losing their jobs...

Save Tax – Opportunities with Superannuation for 2020

When you retire, your superannuation is likely to become an important source of your income. That’s why it’s a good idea to top it up while you are working. But did you know, there are also some excellent tax benefits you can take advantage of right...

Updates from ATO – Boosting Cash Flow for Employers

Earlier this week, the ATO noted that entities that lodged their activity statement before 28 April would see their cash-flow boost amount used to offset tax debts from previous periods, while those who lodged on 28 April would not see those credits used to pay...

Super guarantee amnesty

The super guarantee (SG) amnesty is now official. Under the amnesty, employers have a 6-month window until 7 September this year to disclose, lodge and pay unpaid SG amounts for their employees. To be eligible for the amnesty, you must declare and pay your SG shortfalls...

JobKeeper eligibility: Sole traders and other entities

Sole traders and some other entities (such as partnerships, trusts or companies) may be entitled to the JobKeeper Payment scheme under the business participation entitlement. However, not-for-profit organisations are not included. Your entity may be eligible for the JobKeeper Payment scheme if you: have a non-employee...