Log into Accountancy Group

Business

Business news and views from Accountancy Group

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

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 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

Why are some businesses returning JobKeeper to the ATO?

Super Retail Group – owner of the Supercheap Auto, Rebel, BCF and Macpac brands – handed back $1.7 million in JobKeeper payments in January after releasing a trading update showing sales growth of 23% to December 2020. Toyota announced that it will return $18 million in JobKeeper payments after a […]

By |2 March, 2021|Business|Comments Off on Why are some businesses returning JobKeeper to the ATO?

Winding Up: Simplifying small business insolvency

On 1 January 2021, new laws came into effect that introduce a new, simplified debt restructuring and liquidation framework for small business. 

Drawing on key features of the Chapter 11 bankruptcy model in the United States, the new system aims to speed up the insolvency process, reduce costs and where possible, […]

By |5 February, 2021|Business|Comments Off on Winding Up: Simplifying small business insolvency

How to sell your business

We’re often asked the best way to sell a business. There are two key components at play in the sale of a business; structuring the transaction and positioning the business to the market. Both elements are important and can significantly impact your result.

Structuring the transaction covers things such as pricing […]

By |3 February, 2021|Business|Comments Off on How to sell your business

2021 Risks & Opportunities

What a year. Instead of a handful of bright, shiny material things all I really want for Christmas is an effective COVID-19 vaccine, a safe environment for my friends and family […]

By |14 December, 2020|Business|Comments Off on 2021 Risks & Opportunities

JobMaker Hiring Credits: 
What We Know So Far

We’ve had quite a few questions about the JobMaker hiring credit announced in the 2020-21 Federal Budget. The legislation enabling the JobMaker scheme has not passed Parliament as yet and until this occurs, the JobMaker rules are not certain and may change. More details should be available soon and we’ll […]

By |5 November, 2020|Business|Comments Off on JobMaker Hiring Credits: 
What We Know So Far
Malcare WordPress Security