Category: Blog
The risks early lodgers face
Tax time is near, but the ATO is urging individuals to take extra time when preparing their tax return to minimise their risk of making a mistake.
HomeBuilder Grant supports new house builds and renovations
The HomeBuilder scheme is a time-limited, tax free cash grant intended to support the residential construction industry during the COVID-19 pandemic, but it does come with an extensive eligibility criteria.
What’s changing on 1 July 2020?
With all the changes occurring in the last year, it’s difficult to keep track. Thankfully we have compiled a list of a few things we can confirm to occur on 1 July 2020.
Company Tax Rate Reduction – 1 July 2020
The company tax rate is set to reduce to 26% for small and medium business from 1 July 2020 despite the current economic environment. The 1 July change is part of a larger progressive plan to reduce the company tax rate to 25% from 1 July 2021 and applies to base rate entities (BRE) – […]
$150k instant asset write-off extended for 6 months
The Government announced that the $150,000 instant asset deduction has been extended for the next 6 months. Understanding which financial year to make the purchase is key.
SMSF Scams on the rise
Scammers love to take advantage of a crisis – now with the COVID-19 pandemic, they are targeting Self-Managed Super Funds (SMSF).
The ATO’s targets when sniffing out JobKeeper fraud
The ATO is looking carefully at businesses who have made adjustments to their circumstances in an attempt to track down businesses trying to abuse the system.
Dining for Details – Why personal information is on the menu
The Victoria State Government have eased a vast majority of its stage three COVID-19 restrictions as of 1 June 2020. The changes however, come with a new condition.
Salary Changes Under JobKeeper
JobKeeper payments mean that some of your employees wages will change. Make sure you understand these changes so you don’t get yourself into hot water.
ATO Extends JobKeeper Declaration Deadline
Recent changes to the JobKeeper Payment scheme means employers have a little more time to send in their report.
Unintended consequences of Government COVID-19 Policies
For every action there is a reaction. And while we’re not criticising the government’s policy response to COVID-19, we recognise that such intervention often has unintended consequences.
Who inherits your super?
There are only certain people who can inherit your super when you die. There are also two different types of nominations you can make. Here’s what you need to know before making your super beneficiary nomination.