News

The 2024-2025 Federal Budget described as a ‘responsible Budget that helps people under pressure today’ was released last night, the 14th May at 7.30pm.  The priorities of the government were reflected in the Budget released by the Federal Treasurer, Dr Jim...

Tax planning isn’t just about meeting lodging payments and deadlines. It’s about monitoring your cash flow, understanding your financial positioning, and adopting accounting practices that propel your business towards success. Stay with us as we list seven valuable...

Fringe benefits tax (FBT) is applied to the perks you offer your employees. These can range from providing company cars that employees can use privately to offering a low-interest loan or monetary bonus.  Between 31 March 2021 and 2025, FBT is charged at a 47%...

As the 2023 financial year-end fash approaches, we identify several opportunities for businesses to refine their books, optimise tax savings, and prepare for the next year ahead.  Read on as we list our seven tips for last-minute end-of-year tax planning! Analyse...

Construction, property, and home repair businesses often supply vehicles to employees for personal and professional use. While these initiatives streamline business operations and help employees feel more connected to your company, the benefit can come at a cost to...

As an employer, you must make super contributions in line with average ordinary time earnings (AOTE) to employees’ super fund, preparing them for post-retirement life.  Employers and independent workers can make concessional contributions on income that has yet...

On March 27th, 2024, The Treasury Laws Amendment Bill involving the Support for Small Businesses, Charities, and Other Measures initiative was discussed in Parliament. While the changes need final approval by the House of Representatives, we could experience...

For a small business to thrive, it must curate a long-term financial strategy that starts at the foundation of every business’ outgoings–tax! Overlooking tax deadlines or reserving insufficient funds could inflict penalties with interest charges, damaging the...

Starting a small business is a whirlwind of turning your passions and talents into a flourishing business. You’re likely learning the ropes of marketing, procurement, recruitment, and more to keep your entity afloat.  While the above areas matter, it mostly boils...

The $20K instant asset write-off enables businesses to reclaim instant funds on assets, like agricultural equipment. In May 2023, the government announced that the asset value threshold would drop from $20,000 to $1,000. Fortunately, the Treasury Laws Amendment put...