COVID-19: JobKeeper Payment Part 2
The JobKeeper Payment announced by the Prime Minister on Monday has been well received by employers and employees struggling through the COVID-19 crisis. We have already had many enquiries from employers about how this scheme will operate. These employers have had many enquiries from their staff. To help everyone understand the proposed scheme, we have […]
COVID-19: JobKeeper Payment
As you may be aware, the Federal Government announced this week, a wage subsidy for businesses impacted by COVID-19. The subsidy, known as the JobKeeper Payment, will be a payment made by the Government to businesses who have suffered a significant downturn in income (as a result of COVID-19) to help them retain employees. Key […]
SMSFs – What’s in the spotlight for 2020?
The Superannuation area is a constantly changing environment with further proposed changes planned for 2020. Fund members should be aware of opportunities that are available to them, how the ATO target areas may impact them and future proposed changes. Catch-up Concessional Contributions Since 1 July 2018, members with a total super balance of less than […]
Don’t let the tax man ruin your Christmas party
It’s that time of year, where the festive season has us all digging deep into our pockets to give generously to charities and to those around us. While just about every employer puts on a Christmas party or celebration of some sort for their staff, they may be unaware of the potential taxation issues lurking […]
Tax time need not be taxing!
With just weeks to go until it’s tax time again, now is the perfect time to plan and review your 2019 tax year so there are no surprises awaiting you. We explain some areas of your business that you should consider in order to get the best tax outcomes possible: Superannuation It’s a good idea […]
How automated are you?
The technology around us is rapidly changing, and we are starting to witness a strong emergence of Artificial Intelligence (AI) and automation in our day to day lives. Consider some of the below and how they have evolved: Supermarket Checkout – now in the form of Self-service Transport – Driverless trains are about to commence […]
Single Touch Payroll
Single Touch Payroll – what is it and why does everyone seem to be panicking about it? Single Touch Payroll (STP) is an ATO initiative which requires employers to lodge payroll information online with the ATO. That’s it – no hidden surprises. Employers already report payroll information – weekly, monthly or quarterly via Activity Statements. […]
New Year Cash Crunch
All North Queensland small businesses know the start of the year always creates a cash crunch. A combination of the holiday break, a slow start to the year and the wet season often sees a reduction in timely debt recovery impacting all businesses. There are however, a few easy to implement strategies you can use […]
Benefits of Record Keeping
Benefits of record keeping A common question we are asked by clients is….. How long do I need to keep my records for? While we have the mindset that we just need to keep records to satisfy ATO audit periods, there are many other reasons why keeping good records is important and beneficial to you. […]
Planning and Preparation is Key for Success
I was lucky enough to spend some time in Vietnam earlier this month on a business trip. I was there to assist a client with capital raising and exploring potential new markets. Personally and professionally, the trip was very enjoyable, however this was not an opportunity I would have expected to arise just a few […]