How to claim your home office costs
Many more people are working from home in response to COVID-19, even the owners of some businesses. Not everyone is used to being able to claim their home office expenses, and some allowances have been...
View ArticleJobKeeper payments to help businesses retain and support employees through...
On 30 March 2020, the Australian Government published a fact sheet to provide more information on JobKeeper payments as the third stage in stimulus and support packages to assist with COVID-19 impacts....
View ArticleSecond stage of government stimulus package for 2020
On 22 March 2020, the Australian government announced the second stage of its economic plan to cushion the economic impact of the coronavirus and help build a bridge to recovery. Here is a summary of...
View ArticleSuper guarantee amnesty helps employers with unpaid SG liabilities for a...
The super guarantee (SG) amnesty, introduced by the government on 6 March 2020, allows employers to disclose and pay any unpaid super guarantee charges (SGC) that they owe for their employees, from...
View ArticleAustralian expats lose capital gains tax exemptions
From 30 June 2020, Australian property owners living overseas will lose capital gains tax (GCT) exemptions on their main residence under legislation introduced by the Australian government. The new...
View ArticleGovernment stimulus package offers economic remedy for 2020
In response to the impact of Coronavirus (COVID-19) on the Australian economy, the Federal government announced a stimulus package to assist Australian businesses in general and also provide extra...
View ArticleGovernment support package for small businesses impacted by bushfire crisis
On 20 January 2020, the Australian Government announced a comprehensive support package to help small businesses that have been impacted by the bushfire crisis get back on their feet. The package will...
View ArticleThe importance of wages compliance for small business owners
Media reports of wages underpayments by high-profile employers have drawn focus on the importance of wages compliance for small business owners, who may need professional guidance on payroll...
View ArticleDirectors can be liable for GST as well as PAYG and SGC under extended DPN...
The DPN (Director Penalty Notice) regime was extended by legislation passed on 5 February 2020 so that now, a director can be held personally liable if the company has not met its GST obligations, in...
View ArticleGetting prepared for EOFY 30 June 2019
As the financial year draws to a close, business owners can still take advantage of any benefits that could be available and ensure the business is in good shape for closing one financial year and...
View Article2019 Federal Budget highlights in review
On 2 April 2019, the Treasurer of Australia, Josh Frydenberg, announced the 2019-2020 Federal Budget. Highlights include personal tax reductions for low- and middle-income earners, the extension of the...
View ArticleDoes your company qualify for the reduced tax rate in 2017-2018?
Effective from the 2017–18 income year, some companies are eligible for the lower corporate tax rate of 27.5% if certain conditions are met. Find out if your company qualifies for this reduced rate in...
View Article‘Holiday over’ for investor trips to residential rental properties
An important reminder for property investors is that trips to visit residential rental properties are no longer tax deductible. There are some exceptions but individuals and SMSFs with one or more...
View ArticleUpdate on small business instant asset write-off for 2019-2020
The instant asset write-off scheme for small business has been extended and the threshold increased to $25,000 for 2019-2020. Are you one of the 47% of business owners who don’t seem to know about this...
View ArticleSmall business owners – are you ready for Single Touch Payroll 2019?
Single Touch Payroll (STP) reporting for employers with 19 or fewer employees will come into effect from 1st July 2019. Is your business ready? Single Touch Payroll (STP) reporting for employers with...
View ArticleBillings + Ellis strikes Gold with Xero!
For many businesses, Xero doesn’t need an introduction. But if you’re not familiar with Xero, it’s cloud accounting software that allows access to your business finances anytime from anywhere via your...
View ArticleSingle Touch Payroll from 1 July 2018 – are you ready?
Single Touch Payroll (STP) reporting affects employers with 20 or more employees (known as a substantial employer) and commences 1st July 2018 in accordance with new Australian government legislation....
View ArticleAre you eligible to claim depreciation deductions?
If you’re the owner of an income producing property, then you are eligible to claim tax deductions for a number of expenses involved in holding the property. Most investors are aware of some of the...
View ArticleSuperannuation changes effective 1 July 2017
There are a number of changes to superannuation starting on 1 July 2017 that are summarised below however, the key question is to decide what has to be done before 1 July 2017. Contributions The first...
View ArticleBenefits for homebuyers and seniors in 2017-2018 Budget
There are no changes to personal income tax rates and thresholds in the 2017-2018 Budget, and there will be relief from the 2% Budget deficit levy, as anticipated, from 30 June 2017. On the other hand,...
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