Tax deductible super contributions
A reminder that superannuation contributions are only tax deductible in this financial year if they are received in your fund before 30 June. We recommend paying contributions well in advance (we suggest by 17 June, or contact your super fund or clearing house for their advice) to factor in possible processing delays. The base annual […]
Super changes from 1 July 2022
The Superannuation Guarantee increases to 10.5% from 1 July and the $450 per month earning threshold will be removed. Businesses are advised to update payroll software to correctly calculate the SG entitlement. Employees previously not eligible for super under the $450 threshold will need to provide their employer with a nominated super fund, which will […]
The value of audit in your business success strategy
Businesses that engage genuinely in the audit process will realise value in the confidence it can bring in terms of business success, financial security, improved profitability, efficiencies and productivity. For those seeking to attract new investors or finance from banks, audit offers additional opportunities to satisfy requirements and provide peace of mind. As Sydney accountants […]
Tax planning: Act now to avoid paying more tax than you should
As we approach the end of another financial year, now is the time to consider the tax planning strategies that will help you optimise your cashflow and avoid paying more tax than you should. Each year, we assist a diverse range of clients – including business owners, family groups and individuals – to make the […]
Australian film industry’s ‘Ticket to Paradise’
George Clooney and Julia Roberts’ recent arrival on Hamilton Island is one of the latest and greatest results of the Australian federal government’s Location Incentive Program. ‘Ticket to Paradise’, which reportedly received a $6.4 million grant, is expected to generate $47 million for the Australian economy and create more than 270 jobs. In July 2020, […]
Should you change your business structure?
A lot has changed over the past two years. As business owners take stock, many are questioning whether the business structure they established years ago remains appropriate for their needs, particularly in regard to tax benefits and asset protection. As the business environment and your personal situation evolve, it is wise to review your business […]
Succession Planning: Reward for effort
For many business owners, the pandemic has brought forward a renewed interest in succession planning. The disruption has certainly given pause for many to consider how much involvement (if any) they intend to maintain in business, particularly if retirement was already on the radar. Whether you are feeling exhausted after the last two years or […]
Business roadmap into a year of possibilities
As NSW and the rest of the country begins to reopen, business leaders are focusing on the proactive steps they can take now to operate with greater confidence. Here, we reflect on key lessons learned over the past two years, and consider the focus areas that will help deliver efficiencies, growth and success through the […]
Single Touch Payroll Update
Most of the ATO’s Single Touch Payroll (STP) concessions will be coming to an end on 1 July 2021. If you have a current concession, you will need to be reporting each pay day through STP by this date. Small employers (with 19 or fewer payees) have so far been exempt from reporting amounts paid […]
Last Call: Finalise and implement your tax plan now
Now is the time to finalise and implement your 2020-21 end of financial year tax plan. With so much financial disruption over the past 12 months, it’s important to make the most of the tax saving measures available to you. Here we consider a range of matters that can be actioned prior to 30 June […]
Hope on the horizon for the arts, film & television
It appears that Australia’s handling of the COVID-19 pandemic may yet provide a silver lining to those working in the film and television industry, with recent announcements of major Hollywood blockbusters to be produced on our shores. While it remains to be seen whether the benefits will flow on to local professionals delivering Australian content, […]
Overcoming financial blind spots
It is not unusual for business owners to have financial blind spots. These can be caused by a lack of confidence in either their own financial knowledge or in the systems they use for gathering financial data. Sometimes it’s a general disinterest in accounts and back of house matters brought about by a lack of […]