Setting up a new business is often an exciting and challenging journey. Getting set up and seeking proper advice from the start will put you on a path to success. So, have you thought about trademarking your business name? Or has someone else beaten you to it? You’ve completed all the required registrations, you have […]
Have you trademarked your new business? Read More »
As part of the Australian Government’s new Protecting Worker Entitlements laws, there have been several changes made to the Fair Work Act. What applies now Some changes took effect on 1 July 2023. They include: changes to unpaid parental leave entitlements protections for migrant workers changes to the way enterprise agreements and workplace determinations interact.
Fair Work Act Changes: Protecting Worker Entitlements explained Read More »
The Federal Government has received final submissions for a raft of proposed industrial relations reforms it hopes to introduce to parliament later in the year. So, what do we know about the possible changes and how could they affect employers? Five key areas of change Information released by the Department of Employment and Workplace Relations
Proposed Industrial Relations reforms and what they mean for business Read More »
The rise and rise of OnlyFans, YouTube, TikTok and other online platforms offer amazing opportunities for content creators to generate an income from their side hustle. As these opportunities increase alongside the sometimes-considerable income streams, the Australian Tax Office (ATO) has issued warning to the rising industry. How are content creators taxed? An update released by
When is a side hustle a business? Read More »
As the end of the financial year (EOFY) approaches, it is important for businesses to prepare themselves accordingly. This is the time when businesses must reconcile their accounts, file their tax returns and make necessary adjustments to their financial strategies. Proper preparation can help businesses maximise their returns and avoid costly mistakes. Here are some
Top Tips to get you through the End of Financial Year Read More »
1 July 2000 was the day the Goods and Services Tax (GST) was introduced to all Australians. This presented confusion to consumers, business owners and accountants alike with an endless list of GST dos and don’ts. In a nutshell, GST is a tax we pay via the items that we buy. As a simple example,
Goods and Services Tax (GST) Explained Read More »
On Tuesday evening, Federal Treasurer Jim Chalmers handed down the 2023-24 federal budget. A surplus of $4.2 billion is forecast in 2022-23, but an underlying cash deficit of $13.9 billion is expected in 2023-24 (and a $35.1 billion deficit for 2024-25). The budget papers note that the global economic outlook has deteriorated and is highly
Australian Federal Budget 2023/24: the wins for small business Read More »
It is tax planning time! In most instances, tax planning happens in the final quarter of the financial year between April and June. 30 June is fast approaching, so now is a great time to plan and forecast for the end of and new financial years to ensure you’re in the best possible tax position.
6 tax planning strategies to minimise your tax Read More »
The Paid Parental Leave Amendment (Improvements for Families and Gender Equality) Act 2023 which was passed by both Houses of Parliament on 6 March 2023 introduces changes to the government’s Parental Leave Pay (‘PLP’) scheme effective from 1 July 2023. The changes aim to better support gender equality in the home and workplace by providing greater flexibility
Paid Parental Leave: what has changed? Read More »
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