News

Changes to casual employment laws

By 27 September 2021, employers (other than small business employers) need to assess whether any existing casual employees (employed before 27 March 2021), are eligible to be offered to convert to permanent employment. Employers need to: make a written offer to convert their casual employees to permanent employment…

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SME LOANS WITH OPTIONS FOR SUPER

AFR - Wednesday, 15 Sep 2021 - Page 24 Michael Jiang’s grocery business has been given a boost by a federal government-backed scheme enabling cheaper loans to expand operations, including buying commercial property. Strategy Government-backed funding for pandemic relief can ease retirement plans, writes Duncan…

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Revaluing Self-Managed Superannuation Funds

Not so long ago it was commonplace for Self-Managed Superannuation Funds (SMSF) trustees to revalue their property assets every 3 years. This was simply long-standing industry practice, assuming the property values don’t change quickly and therefore getting a new valuation every 3 years was appropriate.…

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Mouse Support Package

Primary producers impacted by the 2021 mouse plague may be eligible to claim a rebate for the purchase of zinc phosphide as part of the $150 million mice support package. Farmers experiencing financial hardship due to the mouse plague may be eligible for assistance with purchasing costs of…

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Government support during lockdown – 2021

What follows are the just-announced stimulus measures from the NSW Government as well as a few others that have been around for a little bit that you might not be aware of. This support is now statewide and will, importantly, ensure regional NSW is looked…

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Australian Financial Review news articles – July 2021

High-income tax cuts to stay The federal Labor Party is set to go to the next election vowing to leave untouched the stage-three income tax cuts if it forms government, heading off a Coalition campaign to portray it as high taxing and anti-aspirational . Following…

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Employee changes this financial year

There are few changes to the way employees and areas relating to your employees, that as a business owner, need to be across this new financial year. Minimum Wage Increase - 1 July 2021 The national minimum wage increased on 1 July by 2.5% to…

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End of Financial Year Tips

Over the past couple of months PrincipleFocus has completed tax planning for many of our clients – a process of determining an approximate net income position and then helping our clients with strategies to optimise their tax position and develop a plan to achieve this…

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Land returns diverge as beef trumps grapes

Despite a bumper harvest, record commodity prices and rising rural land values , annual returns generated from prime farmland fell for the fourth consecutive quarter in the three months to March as the strongly performing cropping and grazing sector was offset by weak returns from…

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What’s the difference between financial accounting and management accounting?

You’re running a business, so you know the legal requirements around producing accounts and submitting tax returns. But do you truly know WHY you’ve engaged an accountant? And do you understand the value that a good accountant and business adviser can add to your company?…

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