The 2021 budget delivers plenty of initiatives for our business owners and employers; immediate asset write off retained until 30 June 2023, carry back losses, Employee Share schemes, residency simplified, investment incentives for the digi…
The ATO updated their guidance on Service entity arrangements in 2019 and now in 2021 have provided a broader risk matrix to determine which professional practices should be reviewed and/or audited. Should Professionals, such as doctors, de…
Changes from 1 July 2021 will impact how much money you can contribute to superannuation and how much you can have in your retirement phase superannuation account.
The Australian Taxation Office (ATO) has been concerned for some time about how many professional services firms are structured – specifically, professional practices such as lawyers, architects, medical practices, engineers, architects etc…
A recent article published in the Harvard Business Review by Bain & Co suggests that the pandemic has widened the productivity gap between top performing companies and others.
Fringe Benefits Tax (FBT) is one of Australia’s most disliked taxes because it’s cumbersome and generates a lot of paperwork. The COVID-19 lockdowns have added another layer of complexity as many work patterns and behaviours changed.
We’re often asked the best way to sell a business. There are two key components at play in the sale of a business; structuring the transaction and positioning the business to the market. Both elements are important and can significantly imp…
The impact of COVID-19 has been felt very differently from region to region. Fortunes vary wildly between business operators subject to ongoing lockdowns and trading impediments to those benefiting from the “new normal”.
The government has made changes to our Insolvency Framework to help more small businesses restructure and survive the economic impact of COVID-19.
Here is a summary of the key takeaways from a tax perspective of the 2020 Federal Budget announcement and what this means for businesses.