fbpx

Business

Family Business Succession – Episode 2: The challenge of transition in a family business

[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 width="2/3"][vc_column_text] This is the second blog, in a series of seven, where we interview Michael Fox, our Managing Director, about the handover of a family business, from one generation to the next. In this blog, we talk about the...

Employee Eligibility Update for JobKeeper V2

Instead of finishing at the end of September 2020, the JobKeeper payment will now continue until March 2021. Businesses will have to requalify for each of the December 2020 and March quarters 2021 just like they did when JobKeeper started. New date for eligible employees  In addition...

Family Business Succession – Episode 1: The fundamentals of family business succession

[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 width="2/3"][vc_column_text] It's been a while but we're excited to return with a podcast series on family business succession. We kick off the series by focusing on some of the fundamentals of family business succession. Getting your values right and...

JobKeeper Extension: All changes you need to know

The Government has announced changes to JobKeeper Payment including an extension through to 28 March 2021. These changes do not impact JobKeeper payments until after 28 September 2020. Support will be targeted to businesses and not-for-profits that continue to be significantly impacted by the coronavirus.  The...

Tax consequences of the Cash Flow Boosts

Temporary cash flow boosts will support small and medium businesses and not-for-profit organisations during the economic downturn associated with COVID-19. Overview Eligible businesses and not-for-profit (NFP) organisations who employ staff will receive between $20,000 to $100,000 in cash flow boost amounts by lodging their activity statements up...

5 things to know for your 2020 tax return

This year has been difficult for many due to COVID-19; and there are some significant changes this tax time as a result. So here is a list of 5 important things you need to know for your 2020 tax return to prepare and consider before...

Work from home tax deductions during COVID-19

Due to COVID-19, your working arrangements may have changed. If you have been working from home, you may have expenses you can claim a tax deduction. Tracking these expenses can be challenging, so from 1 March to 30 June 2020, the ATO has introduced a temporary...

2020 EOFY Tax Tips & Reminders

This has probably been the most difficult year ever for business owners due to the impact of COVID-19. There are many obligations that you need to consider and action for your business tax return. We have outlined these action points below - 2020 EOFY Tax...

JobKeeper Recap

The JobKeeper scheme is the most significant measure to assist businesses during the COVID-19 crisis – even if it is going to cost a lot less than initially thought. There have been a few changes and clarifications, so it seems a good idea to remind...

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...