Steady cash flow is the fuel that powers your business, but when you’re busy doing a million things at once it can easily slip to the bottom of the priority pile. Here are some tips to keep the cash flowing while you’re growing: Invoice quickly – good debtor...
The Social Services and Other Legislation Amendment (Strengthening the Safety Net) Bill 2023 has received royal assent to give effect to increases in social security rates for certain payments as announced in the 2023-24 Federal Budget. The following changes in...
The ATO released their corporate plan for 2023–24 and announced superannuation guarantee (SG) compliance as one of the 8 key priorities to be focused on for administration purposes. With many employers falling behind in paying their employees’ entitlements, the ATO...
A tax determination from the Australian Taxation Office (ATO) has stated that earnings from your “image rights” or “fame” can only be included in your own individual tax return. The views expressed in this determination differ from those in...
The ATO has finalised a tax ruling which provides additional relevant guidance on the statutory residency tests for individuals and how the Commissioner may apply them under s 6(1) of ITAA 1936. Taxation Ruling TR 2023/1 focuses on modernised ways of working,...
The federal government has announced a small business energy incentive as part of the 2023-24 Federal Budget, which allows a business with an aggregated annual turnover of less than $50 million a 20% bonus deduction for expenditure that supports electrification and...
