Trust Distribution Minutes and Dividend Statements: what you need to know before June 30
The end of the financial year is fast approaching. Have you made a start on your trust distribution minute and/or intend to pay your beneficiaries a dividend? If you have a discretionary trust, then 30 June 2023 is an important date for you. The purpose of a trust is to separate the legal and beneficial […]
Five digital trends for small business fast-tracked by COVID-19
The pandemic has paved the way for a number of sluggish digital trends, many of which have changed the way small business does business forever. So which trends will have staying power and are suddenly on every small-business owner’s to-do list? We discuss five digital trends for small business that have appeared or been accelerated […]
Choosing a Payroll Provider
You’ve taken the first step in choosing to outsource to a payroll provider.
Is it the right time to grow your business?
Is there a way of knowing when it is the right time to grow your business? Doing so can result in many positive outcomes including exploring new opportunities, expanding products or services, growing your customer base, increasing sales and employing more staff. However, before taking any first steps to grow your business, it is recommended […]
Top fourteen tax deductions for Tax Time 2020
It’s been a ‘business as unusual’ year for business owners and taxpayers and this EOFY will be even more critical than others. To get the most out of your tax return, these top fourteen key deductions mustn’t be overlooked. More importantly than ever, to make the most of and be eligible to receive these deductions, […]
JobMaker Hiring Credit scheme explained
The JobMaker Hiring Credit is an incentive for eligible businesses to employee additional eligible young (16 to 35-year-old) job seekers. Am I an eligible business? To be eligible to receive the JobMaker hiring credit, you need to: Be an ABN holder Ensure you tax lodgements are updated Be registered for PAYG Be reporting through Single […]
GST on imports: new rules for goods under $1,000
Last month, Parliament passed legislation that will see GST applied to all consumer imports regardless of their value. Currently, imports below $1,000 are excluded from GST.
Four common mistakes SMEs make with their data and how they can be avoided
Australian businesses are behind their international counterparts in employing data analytics, but this isn’t because they don’t want to. The unspoken problem is the lack of information provided informing businesses about how they can use their data correctly. Sadly, it isn’t as simple as analysing customer numbers, sales or demographics data. While this information is […]
The importance of employment contracts, workplace policies and procedures
An employment contract is an agreement between an employer and employee that sets out the terms and conditions of employment. It is not necessary to specifically agree on a contract for one to exist. The fact that an employee starts work for an employer brings with it certain fundamental implied terms, such as the right […]
How to calculate your work from home expenses
Article updated April 2022. For many of us, COVID-19 saw us switching to at-home working arrangements almost overnight and many of us continue to do so. If you or your staff are entitled to claim work from home expenses, it is important to understand how to calculate eligible expenses to claim a deduction at tax […]