Government support during lockdown – July 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 after as well. CASH BOOSTER (BUSINESS) This is a fortnightly…Read More
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 permanent farmland. Over the first quarter of 2021, total annual…Read More
TaxWise Business News – June 2021
Our latest TaxWise Business newsletter is now available. Topics include; • Incentives to help businesses recover • Business tax time errors • How PAYG instalments work • Simplified trading stock rules • Electronic invoicing • FBT rates and thresholds • Year-end tax tips • Online services for sole traders • The black economy • myGov email…Read More
Tax Tips for Property Investors
If you have income from investment properties, now is the time to start gathering your records and reviewing your expenses for the 2021 financial year. Income to Declare All income earned from each property must be declared. If you have multiple properties, keep the records for each property separate to make the tax return more…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 Business News – April 2021
Our latest TaxWise Business newsletter is now available. Topics COVID-19 measures: How you might be affected, Keeper, JobMaker, Use of trading stock for private purposes, working from home or running a business from home? Knowing what you can deduct, ATO updates, small business tax offset, insolvency reforms & key tax dates. Download your copy now.…Read More
Millennials and Gen Z lead bush revival
AFR - Thursday, 1 Apr 2021 - Page 23 Population Growing numbers of the under-40 s are joining the grey nomads and young families seeking a better life out bush; they are reversing a century-long trend of Australians moving the other way – from sleepy country towns to buzzing coastal cities, writes Fiona Carruthers. Moving…Read More
Can your business claim the loss carry back tax offset?
As part of the Federal Budget 2020-21, the government announced a loss carry back measure to encourage new investment and work with the temporary asset expensing measures also announced at the budget. The new law started on 1 January 2021. Eligible corporate entities that previously had an income tax liability in a relevant year, and…Read More
Are your ABN details current?
Update your ABN details to ensure notifications in an emergency Did you know that government agencies use Australian Business Number (ABN) details to identify individuals and businesses in communities affected by emergencies or natural disasters? This can happen any time and any season, so we encourage you to keep your Australian Business Register (ABR) details…Read 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