• tax relief
    Tax-Free Treatment of COVID-19 Grants to be Extended
    Treasury Laws Amendment (COVID-19 Economic Response) Bill 2021 has now been introduced into Parliament, extending the application of the non-assessable non-exempt income status to eligible business support grants received in the 2021–22 financial year. The new bill builds on legislation passed late last year which limits the tax concession to grants […]
  • Australian Tax Office
    ATO Extends Division 7A COVID-19 Relief
    On Monday, the ATO confirmed it would offer an extension of the repayment period for those who are unable to make their minimum yearly repayments (MYRs) by the end of the lender’s 2020–21 income year due to the ongoing effects of COVID-19 under section 109RD. A similar extension was provided […]
  • insurance policy
    Am I Taxed on An Insurance Payout?
    Australia has had its fair share of disasters over the last few years – drought, bushfires and floods – that have ramped up the volume of insurance claims. Most people would assume that if and when they need to claim on their insurance, the insurance payout covers the damage and […]
  • changes-ahead
    What Changes on 1 July 2021?
    Super guarantee rate increase to 10% On 1 July 2021, the Superannuation Guarantee (SG) rate will rise from 9.5% to 10% – the first rise since 2014. It will then steadily increase each year until it reaches 12% on 1 July 2025. The 0.5% increase does not mean that everyone […]
  • Superannuation
    Super Guarantee Rate Rising 1 July
    On 1 July 2021, the super guarantee rate will rise from 9.5% to 10%. If you have employees, you will need to ensure your payroll and accounting systems are updated to incorporate the increase to the super rate. If you need help to work out how much super you need to […]
  • skilled migration
    Is It Time for Australia to Rethink Skilled Migration?
    Source: NestEgg When borders reopen, Australia has a chance to reshape its migrant policy, with an opportunity to target younger, more skilled workers, a think tank has revealed. Australia is not attracting the right migrants, instead it should focus on simplifying the process, taking in younger skilled workers, and paying them […]
19 September 2018

Starting A Business

So, you’re starting a business… Whether you’ve been plotting it for years or just recently decided to go for it, starting your own business is a big leap. Now that you’re taking the first steps, pause for a moment to consider some often-overlooked factors that will set you up for […]
21 November 2016

Starting A Business

Small business owners are in a unique financial position, especially when they start planning for the future. Many won’t have the same range of financial assets that employees develop over their career, and plenty will be relying on the business to provide for them and their families when they step […]
19 November 2015

7 Tips in Growing Your Business

Unless you are quite happy just ticking over, it is likely that you will be looking for ways to develop and grow your business. These 7 steps can set you off in the right direction Review Your Business Plan Regular assessment of your business plan enables you to measure your […]
30 March 2015

Starting A Business

Why Start-ups Need To Hire A Melbourne Accountant? It’s no secret that most start-up businesses work with limited resources, which is sometimes the reason why entrepreneurs forego the need to hire a Melbourne accountant or a small accounting firm in Melbourne. While the DIY approach may save you money, getting […]
2 May 2014

HOW TO START A BUSINESS IN AUSTRALIA

One can find a number of sources that can help with the formal requirements of starting a business. These sources can be online or offline information resources that try to ensure that one do it in a proper way. But these resources tend to be either over complicated, too long […]
23 September 2013

Guide To Choosing The Right Business Structure

Get A Melbourne Accountant To Help You With Business Structuring  A lot of business owners often assume they only need to consult a Melbourne accountant when their business is already thriving and when it’s time to pay their tax dues. However, seeking the expert advice of a Melbourne accountant is […]
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