Business

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.…

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The best ways to structure and pass on your wealth

AFR - Wednesday, 4 Nov 2020 - Page 24 There’s been a lot of talk in recent years about the ‘‘ SKI’ ’ phenomenon (spending the kids’ inheritance) but there are many Australians who want to help their children financially – either now or in the future – passing on the wealth they built in…

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Taxwise Business News – November 2020

Our latest TaxWise Business newsletter is now available. Topics covered include; Budget measures now law, JobKeeper updates, what has the ATO been up to? tax tips, ABN details, business structures, superannuation and key tax dates. PrincipleFocus-TaxWise-Business-News-November-2020Download

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Budget 2020

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…

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New rules for Directors

Legislation was recently passed to bring in a new registration system for directors of companies in Australia. Under the new regime, every director will be assigned a unique identifier known as a Director Identification Number (DIN) that will stay with them across all companies they are, or become, a director of. Do I need to get a…

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Tax Time Toolkit – Small Business

This toolkit prepared by the ATO includes a helpful directory of links to help small businesses find information, tools, calculators and services to help them at tax time and throughout the year, as well as several fact sheets for small businesses. This includes information on home-based business expenses, motor vehicle expenses, travel expenses and using…

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