Stay ahead of the competition in today’s dynamic business landscape by gaining a comprehensive understanding of industry trends, performance benchmarks, and best practices. Our Industry Benchmarking Report empowers you to assess your business against the industry standard, providing a clear picture of where you stand. What will you discover with our Industry Benchmark report? Discover […]
READ MOREIs it time for a business structure review?
In the dynamic landscape of business, owners frequently face challenges that require them to adapt and evolve. It is crucial to recognise the trigger points that indicate the need for a review of the business structure, and to be proactive in seeking professional guidance. By engaging in such discussions, business owners can understand the potential […]
READ MOREMinimise your Tax Liability with Smart Tax Planning Strategies
Let’s be honest, no one enjoys paying tax – and you should never pay more than you have to. This is why smart tax planning strategies are so important! As we approach the end of another tax year, it’s time to take a proactive approach to managing your taxes. In this article we will share […]
READ MOREThe Carefully Calibrated Budget
Treasurer Jim Chalmers delivered his second budget for the Labor Government. The Treasurer’s second budget since Labor took office, it is heavily targeted at addressing the rising cost of living and boosting welfare, all while still aiming for balance, trying to avoid contributing to inflationary pressures, and to continue to foster economic growth and a […]
READ MOREA warning for business owners amidst ATO crackdowns on FBT
As a business owner, you must assess whether you are obligated to report FBT for your employees. FBT, or Fringe Benefits Tax, is a tax that is levied on non-cash benefits that employers provide to their employees in addition to their salary or wages. We have received notice from the ATO they are beginning to […]
READ MOREHow margin reporting can help businesses thrive
In today’s fast-paced business environment, business owners are constantly seeking ways to optimise their operations, reduce their operating costs, and maximise their profits. While profitability is undoubtedly an important metric, it is not the only one that matters. As businesses navigate increasingly complex supply chains, rising costs, and ongoing financial stress and pressure, now more […]
READ MOREChanges to record keeping for working from home deductions
Do you work from a home office and plan on claiming the deduction? The Australian Taxation Office has announced changes to the way you need to calculate working from home expenses and your record keeping requirements. In order to rely on the new fixed rate, the ATO expect taxpayers to maintain records of hours worked from home, […]
READ MOREApplications open for federal government energy efficiency grants
Are you looking to replace or upgrade existing equipment to improve energy efficiency and reduce costs? Then the federal government’s Energy Efficiency Grant is for YOU! Grants are available between $10,000 to $25,000 to cover up to 100% of eligible project expenditure. Are you eligible? You can apply now if you: Are an eligible entity Have […]
READ MORELast call for tax savings: Instant asset write-off deadline looms!
With the instant asset write off scheme set to expire on 30 June 2023, business owners have very little time left to purchase assets to claim the full deduction this financial year. What is the instant asset write-off? The instant asset write-off is a tax deduction that allows businesses to claim an immediate deduction for the […]
READ MOREIndexation of SMSF transfer balance cap
The high level of inflation has meant that the transfer balance cap (TBC) will rise from July 2023. The Transfer Balance Cap (TBC) is the maximum amount allowed to be used to pay a member a pension. From July 2023, this will rise from $1.7 million to $1.9 million. This means that members that […]
READ MORE