20/9/2021

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 (this must be done within 21 days after making the…

15/9/2021

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 Hughes. Michael Jiang’s grocery business has been given a boost…

14/7/2021

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…

21/6/2021

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…

14/6/2021

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…

21/5/2021

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…

12/5/2021

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…

15/4/2021

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.…

1/4/2021

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…

22/3/2021

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…