$1,500 JobKeeper subsidy to keep staff employed

Stuart542 Clients, COVID19, General, Super, Tax

A subsidy of $1,500 per fortnight per employee, administered by the ATO, will be paid to businesses that have experienced a downturn of more than 30% (50% for businesses over $1bn). To be a part of the subsidy, employers will need to ensure that their employees receive at least $1,500 per fortnight (before tax). See the example below. Eligibility There … Read More

COVID-19 Preparation Checklist for Businesses

Stuart542 Clients, Business Audit, Business Process, COVID19, General, Tax

As the COVID-19 pandemic unfolds, we are across important updates around the economic response and stimulus package announcements. And will continue to share these important updates with you via email and our social channels. The below PDF is free to download and contains a summary of action items to review immediately to ensure your business is prepared. Don’t wait before acting, get started … Read More

COVID-19 Preparation Checklist for Business Owners

Stuart542 Clients, Business Audit, Business Process, COVID19, General, Tax

As the COVID-19 pandemic unfolds, we are across important updates around the economic response and stimulus package announcements. And will continue to share these important updates with you via email and our social channels. The below PDF is free to download and contains a summary of action items to review immediately to ensure your business is prepared. Don’t wait before acting, get started … Read More

The Second $66.1 bn Stimulus Package: What You Need To Know

StuartAustralian Budget, COVID19, General, Tax

The Government yesterday released a second, $66.1bn stimulus package that aims to boost income support payments, introduce targeted changes to the superannuation rules, provide cash flow support of up to $100,000 for small business employers and relax corporate insolvency laws.   The stimulus measures proposed, are not yet legislated. Parliament reconvened yesterday and we await further announcements.    The Prime Minister has warned there are no “quick … Read More

The Stimulus Package: What You Need To Know

StuartAustralian Budget, COVID19, General, Tax

The Government has announced a $17.6 billion investment package to support the economy as we brace for the impact of the coronavirus.   The yet to be legislated four-part package focuses on business investment, sustaining employers and driving cash into the economy. For business Business investment Increase and extension of the instant asset write-off Accelerated depreciation deductions Cash flow assistance … Read More

$17.6B Stimulus Package in response to COVID-19

StuartAustralian Budget, COVID19, General, Tax

Today the Federal government announced a $17.6 billion economic stimulus package in an attempt to prevent a recession caused by the coronavirus outbreak. The Prime Minister anticipates the economic measure will benefit around 690,000 businesses employing 7.8 million people. It is estimated the stimulus will inject $22b into the domestic economy and will include initiatives to: Fast track investment Subsidise … Read More

5 Ways to prepare your business for the festive season

StuartBusiness Audit, Business Process, Business Technology, Cloud Accounting, General, Tax

They know when you’re sleeping, they know when you’re awake, they know when you’ve been bad or good, so be good for the ATO’s sake. Celebrating the holiday cheer can have far-reaching consequences but planning ahead and budgeting appropriately can save you from much bigger headaches in the New Year. 1. Give yourself a tax-free Christmas As small business owners … Read More

Tips, tricks and helpful hacks to make tax time a breeze

StuartCloud Accounting, Tax

It’s no secret we love Xero! And even though the platform is super user friendly and easy to navigate, there are hidden hacks that our savvy senior accountants, use every day. Never ones to hold onto our knowledge, check out their favourite Xero hacks, that will save you time.   Holly’s Tip: Repeating bills and invoices For regular bills and … Read More

Key tax changes that may affect you

CraigTax

With less than four days until the end of the 2018/19 Financial Year, it’s time to pull out that tax time check list and make sure everything is in order. Particularly this financial year, there have been significant changes to business and personal tax, which you should be aware of, before lodging your return. Not sure what these significant changes … Read More

Preparing and prioritising your EOFY checklist

StuartTax

With June 30 fast approaching now is the time to start preparing for end of financial year. If you’re not sure where to start, keep reading for your guide to setting your budget and streamlining the tax process this financial year.   Start preparing your budget forecast for 2019/20 If you haven’t already, preparing a budget for the next financial … Read More