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So far Helen Tsirmiris has created 48 blog entries.

The Balancing Act Budget: Federal Budget 2021-22

The 2021-22 Federal Budget is a balancing act between a better than anticipated deficit ($106 bn), an impending election, and the need to invest in the long term.Key initiatives include:

Extension of temporary full expensing and loss-carry back providing immediate deductions for business investment in capital assetsIntroduction of a ‘patent box’ […]

By |13 May, 2021|Federal Budget|Comments Off on The Balancing Act Budget: Federal Budget 2021-22

The New Lifetime Director IDs

Directors will be required to register for a unique identification number that they will keep for life, much like a tax file number under a rewrite of Australia’s business registers.ASIC does not currently verify the identity of directors and Elvis Presley and Bob Marley could “quite possibly” be registered. Or […]

By |11 May, 2021|Business|Comments Off on The New Lifetime Director IDs

National licence recognition for tradies

Builders, electricians, plumbers, architects, real estate agents, security guards and other workers who hold an occupational licence in their home state or territory and who want to do the same work in another state or territory will soon be automatically deemed to have the necessary licence.The Federal, State and Territory […]

By |28 April, 2021|Business|Comments Off on National licence recognition for tradies

JobMaker fails to boost employment

The Government’s JobMaker scheme has created 609 new jobs since registrations opened on 1 February 2021, despite around 15,000 businesses registering their interest in the scheme.

The hiring credit is available for jobs created from 7 October 2020 until 6 October 2021 and provides $200 per week for new employees between […]

By |17 April, 2021|JobKeeper, Uncategorized|Comments Off on JobMaker fails to boost employment

Tax treatment of JobKeeper payments handed back to ATO

The ATO has clarified the tax treatment of JobKeeper payments handed back to the Government. The clarification comes after the Super Retail Group, Dominos Pizza and Toyota collectively returned more than $20 million in JobKeeper payments after reporting exceptional trading results.Where a business has handed back JobKeeper despite qualifying for […]

By |15 April, 2021|JobKeeper, Tax|Comments Off on Tax treatment of JobKeeper payments handed back to ATO

ATO targets profits of professional service firms

The Australian Taxation Office (ATO) has been concerned for some time about how many professional services firms are structured – specifically, professional practices such as lawyers, architects, medical practices, engineers, architects etc., operating through trusts, companies and partnerships of discretionary trusts and how the profits from these practices are being […]

By |8 April, 2021|Business, Tax|Comments Off on ATO targets profits of professional service firms

The July 2021 Superannuation Changes

Changes from 1 July 2021 will impact on how much money you can contribute to superannuation and how much you can have in your retirement phase superannuation account.

In general, your superannuation is either in an accumulation account (when you are building your super), a retirement account (when you meet preservation […]

By |7 April, 2021|Superannuation|Comments Off on The July 2021 Superannuation Changes

FBT 2021: Tax & Employee Benefits

Fringe benefits tax (FBT) is one of Australia’s most disliked taxes because it’s cumbersome and generates a lot of paperwork. The COVID-19 lockdowns have added another layer of complexity as many work patterns and behaviours changed.A fringe benefit is a ‘payment’ to an employee or an associate (an associate is […]

By |23 March, 2021|Tax|Comments Off on FBT 2021: Tax & Employee Benefits

The Pandemic Productivity Gap

A recent article published in the Harvard Business Review by Bain & Co suggests that the pandemic has widened the productivity gap between top performing companies and others stating, “Some have remained remarkably productive during the Covid-era, capitalizing on the latest technology to collaborate effectively and efficiently. Most, however, are less productive now […]

By |20 March, 2021|Business|Comments Off on The Pandemic Productivity Gap

COVID-19 Vaccinations and the Workplace

The first COVID-19 vaccination in Australia rolled out on 21 February 2021 preceded by a wave of protests. With the rollout, comes a thorny question for employers about individual rights, workplace health and safety, and vaccination enforcement.The rollout, managed in phases, is expected to complete by the end of 2021 […]

By |20 March, 2021|Business|Comments Off on COVID-19 Vaccinations and the Workplace
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