Cyber criminals are becoming increasingly sophisticated, and tax professionals and businesses are being targeted more frequently through emails, links, attachments and other online communications.
Each year, many companies may receive letters or emails regarding their annual company review and ASIC renewal fees.
In our last update, we outlined the six key things every business needs to know about the upcoming Payday Super changes from 1 July 2026.
Tuesdays Federal Budget, delivered by Jim Chalmers, included some of the most significant proposed tax changes seen in Australia in decades.
The Federal Government’s proposed Division 296 superannuation tax has now passed the Senate, with the legislation approved by a vote of 33 to 22.
The Federal Government’s proposed Division 296 superannuation tax has now passed the Senate, with the legislation approved by a vote of 33 to 22.
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When you spend money on your rental property, not all expenses are treated the same for tax purposes. Some can be claimed straight away, while others need to be spread out over time. Getting this right is important to ensure you maximise your deductions and stay compliant.
The general interest charge (GIC) and shortfall interest charge (SIC) imposed by the ATO will no longer be tax-deductible. This change will increase the overall cost of carrying a tax debt, making it more important than ever for you to stay on top of your obligations.
The Budget leans more toward political announcements than it does toward meaningful structural reform in tax, superannuation, or other major policy areas.
In 2024, Australians reported losses exceeding $319 million due to various fraudulent activities and we have outlined the most prevalent scams from the past year and emerging threats to be vigilant about in 2025.
In today’s dynamic business environment, effective cash flow management is essential for the sustained growth and resilience of small and medium enterprises (SMEs).
Around this time last year, we sent you an email alerting you to the new process for Director IDs. With the deadline of 30th November approaching for all Company Directors to verify their identity by applying for a Director identification number, we felt it necessary to send you this information
With the end of the financial year fast approaching, it is the ideal time to review your 2022 tax year so there are no surprises awaiting you. Below are some areas of your business that you should consider in order to get the best tax outcomes possible: Review your debtors/creditors
The 2022 Budget marked a big change from the past 2 years which saw large expenditure and business support to help the economy and country through COVID-19. The Budget’s focus this year is on cost of living pressures, with minimal new measures announced relating to businesses. We have summarised the
About STP Phase 2 STP is the new norm for reporting payroll information electronically to the ATO. STP Phase 2 is an expansion on an employer’s current STP reporting obligations. This expansion will require the following information to be transmitted to the ATO as part of an employer’s regular STP
Existing company directors will soon be asked to verify their identity and will be required to apply for a Director Identification Number (Director ID) by 30 November 2022. About Director IDs: A Director ID is a unique identifier you require as a director and will keep forever. The Government expects
Late last week, additional financial support was announced for businesses impacted by the recent South East Queensland and Cairns lockdowns. Under the package, businesses in the state which have experienced a 30% reduction in turnover will be able to apply for payments of: $1,000 for non-employing sole traders $5,000 for
The Queensland Government has today announced further relief packages for tourism and hospitality businesses impacted by the recent COVID-19 lockdowns in South East Queensland and Cairns. Payroll Tax Deferral Eligible tourism and hospitality businesses that lodge payroll tax returns monthly can apply to defer paying their payroll tax liability due in
Prior to the Cairns three day lockdown, many businesses in the region were struggling after a decline in visitor numbers caused by lockdowns in South East Queensland and other states. The Cairns lockdown, although hoped to be short, will undoubtedly increase the number of businesses impacted by COVID-19 lockdowns. To
Single Touch Payroll – Annual Finalisation All employers must complete their STP Finalisation declarations by 14 July 2021. The ATO recognise the effects of COVID-19 and are allowing these finalisations to be completed up until 31 July 2021. Change to Superannuation Guarantee Rate From 1 July 2021, the superannuation guarantee contribution rate
On Tuesday 11th May 2021, the Treasurer handed down the Federal Budget which sees a continuation of the Government’s focus to support the economy through a COVID-19 induced downturn. This Budget sees a high level of spending continue – the 2021 budget deficit is $161b and net Government debt is forecast
As part of the recently developed economic recovery plan, the Queensland Government has announced three new grants to support small business. The grants are designed to provide a further $25 million to small businesses to help them to survive and thrive amidst the pandemic. Business Growth Fund (BGF) – $50,000
Recently, the Federal Government has announced a post-JobKeeper stimulus package to assist the travel and tourism industries. Travel Incentives – Tourism and Business The first support package is designed to support the tourism industry by offering around 800,000 half-price airfares from 1 April 2021 to select holiday locations. The subsidy