In a tight economy, a complaint we are hearing from business owners is customer fear of spending and the time it takes to achieve a sale. So, what can you do to overcome their fears and speed up the sales process? Sell the solution not the product Branding is wonderful but unless your brand is […]
READ MOREThe 12 golden rules for asset protection
To protect personal assets, it’s important that business owners operate and structure deliberately, and in a way to remove asset ownership from ‘at risk’ individuals. Why? Because everyone in business is carrying a level of risk as things can, and often do go wrong. There are a number of options that can be taken to […]
READ MOREMore ways to boost your wealth with super contributions
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 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 MOREChanges to Single Touch Payroll
The ATO has announced the next phase of changes to Single Touch Payroll (STP). Single Touch Payroll (STP) Phase 2 will reduce the reporting burden for employers who need to report information about their employees to multiple government agencies. It will also help Services Australia’s customers, who may be your employees, get the right payment […]
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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