Now more than ever there, there are more ways to boost your wealth with super contributions and the recent relaxing of the rules gives you scope to put money into your retirement fund, at a time that suits your circumstances and stage in life. Superannuation – the most tax-effective investment vehicle Since it became compulsory […]
READ MORE120% deduction for skills training and technology costs
Small and medium business can now take advantage of a 120% deduction on skills training and technology costs. The 2022-23 Budget proposed a 120% tax deduction for expenditure by small and medium businesses on technology, or skills and training for their staff. This proposal has now been adopted by the current government and details released […]
READ MOREHow to interpret and use your financial statements
When you receive your financial statements, do you just glance over the details and head straight to the profit figure because you think this is the best indication of the success of your business? Or perhaps you get too confused and overwhelmed with all the financial details so the profit figure is the only one […]
READ MOREGold Coast Women in Business Awards
Nominations are open for the 2022 Gold Coast Women in Business Awards! Do you know a remarkable woman in business or community? Celebrate her (or YOUR!) success by nominating her for the Gold Coast Women in Business Awards. Now in its 10th year, the Gold Coast Women in Business Awards has been recognising and celebrating […]
READ MORESMSF checklist to kick off the new financial year
The best time for review and planning for your self-managed super fund (SMSF) is the beginning of the new financial year in July. Work through these checklist items and get 2022-23 off to a great start. SMSF Administration Tasks There’s some administration tasks that makes sense to do at the start of the financial year. […]
READ MORETax time toolkit for investors
The Australian Taxation Office (ATO) investor toolkit is a great resource for anyone earning money from their investments – whether you invest in property, shares, and/or cryptocurrency. The resources in the toolkit provide information to help investors keep the records they need to prepare their returns this financial year, and in the future. This year, […]
READ MORETop 4 tax time targets
With the 2022 tax season in full swing, the Australian Taxation Office (ATO) has revealed its top four tax time targets – these are the areas of focus this tax season where people tend to make the biggest mistakes. These are: record keeping work related expenses rental property income and deductions, and capital gains from […]
READ MOREATO ramps up debt collection
After easing off on its debt collection activities during the height of the COVID-19 pandemic, the Australian Taxation Office (ATO) is now ramping up debt collection, actively pursuing the recovery of billions of dollars in outstanding tax liabilities. As a key part of the recovery program, the ATO has been writing to individuals and businesses […]
READ MOREWhat to expect from the new government
Anthony Albanese has been sworn in as Australia’s 31st Prime Minister and a government has been formed. We look at what we know so far about the policies of the new government in an environment with plenty of problems and no easy fixes. The economy The Government has stated that its economic priority is “creating […]
READ MORERelaxation of Employee Share Scheme (ESS)
In a bid to streamline and simplify the process for start-ups and founders, the Employee Share Scheme (ESS) received a significant revamp with regulatory reforms seeing a relaxation of the rules. Providing a boost for start-ups and founders who want to offer their staff equity, there will be around $550 million in tax incentives for […]
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