Category: Small Business
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.
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.
JobKeeper Cut-off Date – what you need to know
The cut-off date for Job Keeper is fast approaching. It is now more important than ever to decide if you will register your business for JobKeeper.
How to enrol and administer JobKeeper
The government has now finally released details on this and the process for those businesses that have employees. It consists of a number of steps to enrol for and then administer JobKeeper.
Small Business changes to the COVID-19 Stimulus Package
We have some great news for small business owners and some positive changes to the government’s original announcements.
COVID-19 Federal and Victorian Support for Small Business
What the Federal and Victorian Governments are doing to support small business out there.
Business owners now personally liable for GST compliance
From the start of April 2020, the tax office will be deeming directors as entirely liable for their company’s GST responsibilities. The additional liability is an extension of the already existing DPN (Director Penalty Notice) regime. Previously, the regime had applied to PAYG withholding and superannuation guarantee liabilities, but the extension also covers GST, luxury […]
The Coronavirus Stimulus Package: What you need to know
The yet to be legislated four part package focuses on business investment, sustaining employers and driving cash into the economy.
What is the best business structure for you?
We can help to advise you on which structure might be the best for your small business.