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? As a business owner, managing director or CEO, there are…Read More
Budget Summary 2021
This budget seems to be 'more of the same' from our government, nothing massively surprising here, nothing game-changing however there were a couple of hidden gems for individuals, specifically around superannuation. Here we'll take a look at the proposals that are likely to be most important to our clients. Given that these are just announcements…Read More
TaxWise Individual News – April 2021
Our latest TaxWise Individual newsletter is now available. COVID-19 measures: How you might be affected, Stimulus vouchers: How to report this in your tax, Investment incentives: What’s changed? Do you use trading stock for private purposes, vehicle registrations: data-matching, the fight against tax crime, PAYG instalments Download your copy now. PrincipleFocus-TaxWise®-News-Individual-April-2021-1-1DownloadRead More
Is your business eligible for JobMaker payments?
The JobMaker Hiring Credit scheme is designed to encourage businesses to employ additional young jobseekers aged 16-35 years. The hiring credit subsidises an increase in employee headcount. Eligible employers can receive the hiring credit for up to 12 months for each eligible employee engaged between 7 October 2020 and 6 October 2021. Registration for the…Read More
NSW Budget 2020-21
The NSW budget champions a business-led recovery, supporting businesses to grow, invest and create jobs in their local communities. Highlights for Business Payroll tax thresholds and cuts: The payroll tax threshold will be increased to $1.2 million with the rate of payroll tax lowered from 5.45 to 4.85 per cent for the next two years.…Read More
We were quietly hoping for something really ground-breaking with this year's budget. Given all that has happened this year the government were in a strong position to deliver some (desperately needed) tax reform and provide some vision for a better Australia. As Churchill stated: “Never let a good crisis go to waste”. This budget has…Read More
Federal Government Announces Additional $2 Billion For Drought Loans
Key points An additional $2 billion announced for the RIC’s drought-related loansApplications for interest-free loan terms will close 30 SeptemberApplications received after 30 September will still have record low interest ratesAgriStarter Loan applications will open from 1 January 2021An additional $50 million in RIC operational funding to deliver more loans The additional funding is in…Read More
Budget Summary – Peter Debus
Budget Summary 10 May 2017 Peter Debus 2017-18 Federal Budget: $29.4bn deficit in 2017-18; working towards a surplus of $7.4bn in 2021 on the back of an improving economy; housing affordability package; increased Medicare levy and bank tax; substantial infrastructure program including inland rail project and regional infrastructure. Overview This Budget continues the intent…Read More