All parents are set to qualify for a minimum of 3 days guaranteed subsidised childcare after a bill proposing this measure was passed in the Parliament. Previously, families that applied to claim the childcare subsidy (CCS) were required to pass the income test and the activity test (or be exempt). Current requirements The current activity […]
31
Aug
Aug
On the 12th day of Xmas my accountant gave to me: 12 reports, 11 actions, 10 hi-5s, 9 rums, 8 answers, 7 KPIs, 6 $ tips, 5 Core Values, 4 planning sessions, 3 coffees, 2 reminders & a Complimentary Client Review. Sing out if you didn’t get any of the above! #HappyHolidays
31
Aug
Aug
This year more than ever it’s important to get your records and tax return correct because of the unusual business circumstances and JobKeeper. Talk to us – we can help make tax time easy.
09
Aug
Aug
An ATO tax determination has clarified that earnings from an individual’s “image rights” or “fame” can only be included in that individual’s assessable income.
09
Aug
Aug
The ATO has released a tax ruling intended to provide guidance as to how the Commissioner will apply the residency tests (s 6(1) ITAA 1936) for individuals under a modernised approach.
17
Jul
Jul
Businesses with an aggregated turnover of less than $50 million will be entitled to a 20% bonus deduction for expenditure that supports electrification and more efficient use of energy.
06
Jul
Jul
Crypto assets are now specifically excluded from being foreign currency for income tax purposes.
28
Jun
Jun
The small business technology investment boost is wrapping up on 30 June 2023. As it is now law, we will be working with you to ensure you get the full bonus deduction that you are entitled to. Work through your next steps here.
27
Jun
Jun
Small businesses will get a bonus tax deduction on top of the allowable deduction for training their employees.
23
May
May
As part of the 2023–24 Federal Budget, the instant asset write-off has been reintroduced by the federal government. Small businesses with aggregated annual turnover of less than $10 million will be able to immediately write-off eligible assets.