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 to closely held payees. They [...]
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 that may help you achieve [...]
Federal Budget Summary 2021-22
On Tuesday night, Treasurer Josh Frydenberg handed down the much anticipated 2021/22 budget. Here is a quick overview of what’s in it for business owners and individuals: Business owners will be pleased to see that various popular business measures introduced in last year’s budget have been extended by another year. These include the full expensing of eligible depreciable assets acquired, [...]
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, the Federal Government is certainly [...]
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 time. In this article we [...]
Faster sale, higher sale price
If retirement is looming large or perhaps you are considering your options after a year of disruption and uncertainty, and may be thinking of selling your business. It’s important to know, that businesses that are well prepared for sale, sell faster and usually at a higher price, than those that are less prepared. […]