• jobmaker
    JobMaker Hiring Credits: What We Know So Far
    We’ve had quite a few questions about the JobMaker hiring credit announced in the 2020-21 Federal Budget. The legislation enabling the JobMaker scheme has not passed Parliament as yet and until this occurs, the JobMaker rules are not certain and may change. More details should be available soon and we’ll […]
  • tax loss
    Refunds for Tax Losses
    If your company has made a loss, you may be able to claim a tax refund for tax previously paid on profits.  In the 2020-21 Federal Budget, the Government announced that businesses with turnover under $5bn* will be able to offset any losses made between 2019-20 and 2021-22 against previously […]
  • investment
    Tax Deductions for Investing in Your Business
    Stimulating investment is high on the Government’s agenda. To encourage spending, the 2020-21 Budget introduced a measure that allows businesses with turnover under $5bn* to immediately deduct the cost of new depreciable assets and the cost of improvements to existing assets in the first year of use. This means that […]
  • system-outage
    ATO Extends JobKeeper Monthly Declaration After System Downtime
    Despite the business monthly declaration for October JobKeeper payments due on 14 November, the ATO had scheduled its system maintenance for online services for agents over the weekend, effectively affecting access over both days. As such, the ATO has now confirmed it will continue to accept and process late declarations. […]
  • best-worst-smsfs
    3 Best and Worst Super Funds Revealed
    Source: NestEgg Stockspots 2020 Fat Cat Funds report has stated that poor performance is largely due to higher fees, with CEO Chris Brycki highlighting to consumers they would be $200,000 better off if they are in a fund charging less than 1 per cent instead of paying 2 per cent. “One […]
  • Australian Tax Office
    ATO Flags Key Early Access to Super Dates
    In an online update, the ATO said that ATO offices will generally be closed from midday of 24 December 2020 to the start of business on 4 January 2021. The last fund files prior to Christmas will be sent on 24 December 2020 – this will include all approvals up […]
30 September 2020
victorian small business

Victorian Small Business Grants Now Income Tax Free

Source: Accountants Daily The federal and Victorian governments have reached an agreement to make the grants to small and medium businesses under Victoria’s Business Resilience Package exempt from income tax. The $3 billion grant package, announced earlier this month, provides up to $20,000 in grants to businesses with a payroll […]
29 January 2019

Top Frauds to Look Our For

The impact fraud can have on an organisation can be monumental. Not only can it have a significant financial impact, but, depending on the type and severity, it can also destroy an organisation. This is why it is important to work with a trusted Melbourne accountant to help you have […]
10 July 2018

6 Must-Know Accounting Tips for Your Small Business

You can make yourself (and your Melbourne accountant) happy by following the six accounting tips for running small businesses below. Accounting is and always will be a critical function of the savvy business owner, but accounting doesn’t have to be a nightmare or something to dread. It just takes a little perseverance […]
29 January 2018

Smart Budgeting Tips for Small Business Owners

Running a small business often means having small budget, too. With startup costs, loans and other expenses, it can be difficult to get your feet planted. Businesses of all sizes experience financial fluctuation, so it’s important to create and stick to a stable budget plan. Before embarking on your journey in […]
11 December 2017

New Year’s Accounting Resolutions

The beginning of the year is a great time to reflect on the past twelve months and prepare for the next. Here are some useful accounting tips to help you get your business finances up-to-date and ready for the year. Keep your business in shape People often make New Year’s […]
8 August 2017

5 Mistakes Small Businesses Make When Hiring Accountants

Accounting: an organized way to keep track of exchanges. Sounds simple enough, right? As intuitive as it might seem, precise accounting is crucial to the health of your small business. Accurate accounting provides data that you can use to make wise financial decisions, and if your data is inaccurate, your […]
24 July 2017

Importance of Financial Projections

In order to get the attention of serious investors, it is important to have realistic financial projections incorporated into your business plan. Projections can be a tricky business as you try to anticipate expenses while trying to predict how quickly your business will grow. Nobel Thomas can help you with […]
10 April 2017

Small Business Accounting Errors To Avoid

As you experience small business growth, some seemingly unimportant processes will over time become more complicated. At the top of this list is bookkeeping and accounting. Larger numbers and higher volume in purchasing and employment means more complicated math and more finances to keep track of. Even if you outsource […]
28 March 2017

Why keep good business records

There are a number of reasons for keeping good records of your business transactions Legal requirement The most important reason for keeping good records is that it’s a legal requirement for you to do so. By law, the Tax Office requires you to keep business records: for five years after […]
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