The financial year is drawing to a close, which means tax time is just around the corner! It is now time to start thinking about whether your year-end tax planning is in order. Tax planning requires not only a consideration of income and deductions for the year but also looking forward to opportunities ahead of 1 […]
In a world quickly moving away from hard cash, the idea that cash (or cashflow in this case) is dead is nonsense. Maintaining good cashflow is now more relevant than ever in the current world economic squeeze and cost of living crisis. “Cash is king” is a common phrase used in business to emphasize the […]
The Parliament has now passed legislation to introduce two new tax incentives that support small and medium businesses to train and upskill employees and improve their digital and tech capacity. Worth more than $1.5 billion, the Technology Investment Boost and the Skills and Training Boost will be backdated to 29 March 2022 so small and […]
Lodging your tax return too early may not necessarily be a problem. However, there are a few reasons why some individuals might choose not to lodge their tax return too early. Here are a few considerations: Waiting for all necessary documentation: Before lodging your tax return, it’s important to have all the relevant documentation and […]
So, you have decided to incorporate your business, or you are already a Director of Company. Do you know your basic responsibilities as an Officer? It doesn’t matter if you are a sole Director or member of a Board, you still have responsibilities that you are required to adhere to, by law. Being a Company […]
It’s a good question and unsurprisingly one I get asked all the time. Pay As You Go (PAYG) instalments are payments that individuals and businesses make to the ATO to cover their expected tax liability for the current financial year. These instalments are based on an estimate of the individual or business’s taxable income for […]