Category: Small Business

New Business Checklist
Small Business

How to set up your Director ID

Directors are now required to register for a unique identification number that they will keep for life. The introduction of the Director Identification Number (DIN) is part of the Government’s Modernisation of Business Registers (MBR) Program creating greater transparency, and preventing the potential for fraud and phoenix company activity. So, who needs one? What is the timeframe to apply and how do I set it up?

Read more
Untitled Design (20)
Small Business, Tax, Uncategorized

Recruiting new employees? The 1 November superannuation rule changes

From 1 November 2021, where an employee does not identify a superannuation fund, the employer is required to contact the ATO and request details of the employee’s existing superannuation fund or ‘stapled’ fund (the fund stapled to them).

Read more
Untitled Design (53)
Small Business

Construction Industry Support – Round Four

The Victorian Government are offering support for entitled construction businesses, including employing and non-employing businesses, who were affected by the construction sector shutdown from 21 September – 4 October 2021.

Read more
Untitled Design (39)
Small Business, Tax

How Do I Declare My Income As An Influencer?

As an Influencer, it’s important that you declare your assessable income from all sources that it has obtained from which includes income made through endorsements, sponsorships and non-cash benefits. If income is not correctly reported, this can become an issue that may trigger ATO audits.

Read more
Untitled Design (47)
Small Business

Unwinding COVID-19 Relief

COVID-19 support will roll back as states and territories reach vaccination targets. The National Plan, the road map out of COVID-19, does more than provide greater freedoms at 70% and 80% full vaccination rates, it withdraws the steady stream of Commonwealth financial support to individuals and business impacted by COVID-19 lockdowns and border closures. We look at the impact and the support that remains in place.

Read more
Covid Safe Check In (2048 X 1536 Px)
Small Business

What now? Unwinding the Pandemic

A business operator has the ability now to refuse entry or service to a customer as long as anti-discrimination rules are not breached. Excluding an individual by vaccination status without a public health order however will be a question of whether the rule is reasonable, necessary, and proportionate.

Read more
Woman Comforting Depressed Man At Rehab Group Meeting
Community, Community Support, Small Business, Tax

Mental Health Support for Business Owners

Running a business can be an isolating experience. And, with COVID-19 lockdowns and disruptions to trade, the pressure can be intense.

Read more
Vector Of A Business Man Being Rescued With Life Buoy During Coronavirus Economic Crisis
Community Support, Small Business

Victorian Government business boost announced for the extended lockdown

While Victoria is expected to remain in lockdown until the start of October, the Victorian Government will be rolling out additional financial support for the state’s small and medium businesses as they continue to grapple with the sustained impacts of lockdown restrictions.

Read more
Untitled Design (35)
Small Business, Tax

ATO update on tax claims for NANE COVID-19 payments

According to new guidelines issued by the Australian Taxation Office, small businesses that pay accountants or bookkeepers to apply for tax-exempt COVID-19 grants on their behalf will not be able to claim tax relief for the service.

Read more
Untitled Design
Small Business, Tax

Growing your business value

Over the next decade, as the baby boomer bubble of small and medium sized business owners roll through the system, Australia will experience one the largest transfers of business wealth in its history.

Read more
Support
Community, Small Business, Tax

Lockdown Support Update

The support available to individuals and business has been constantly evolving and changing. Here’s a summary of where support stands around the country.

Read more
Untitled Design (4)
Small Business, Tax

COVID-19 Government Grants and Payments to be Tax-Free Under Law Change

The COVID-19 support payments received by individuals and businesses are set to be regarded as non-assessable non-exempt income after the introduction of a new legislation into Parliament.

Read more