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Business news and views from Accountancy Group

Register your .au domain!

23:59 UTC on 20 September 2022 is the cut-off to register for your .au direct domain.  The .au domain is the new, general purpose, shorter Australian domain name option.

If you do not register the direct match of your existing domain for the direct .au domain, you risk your brand equity […]

By |21 September, 2022|Business|Comments Off on Register your .au domain!

Overcome your customers fear of spending

One of the biggest complaints from salespeople in a tight economy is the time it takes to achieve a sale.  So, what can you do to speed up the sales process?Sell the solution not the product

Branding is wonderful but unless your brand is as mighty as Coca Cola, it’s unlikely […]

By |27 July, 2022|Business|Comments Off on Overcome your customers fear of spending

ATO ramps up heat on directors

Throughout March, the ATO sent letters to directors who are potentially in breach of their obligations to ensure that the company they represent has met its PAYG withholding, superannuation guarantee charge, or GST obligations.These letters are a warning shot and should not be ignored.The director penalty regime ensures that directors are […]

By |11 May, 2022|Business|Comments Off on ATO ramps up heat on directors

The 120% deduction for skills training and technology costs

It’s a great headline isn’t it? Spend $100 and get a $120 tax deduction. Days after the Federal Budget announcement that businesses will be able to claim a 120% deduction for expenditure on training and technology costs, we started receiving marketing emails encouraging us to spend now to access the […]

By |11 May, 2022|Business|Comments Off on The 120% deduction for skills training and technology costs

Are Your Contractors Really Employees?

Two landmark cases before the High Court highlight the problem of identifying whether a worker is an independent contractor or employee for tax and superannuation purposes.Many business owners assume that if they hire independent contractors they will not be responsible for PAYG withholding, superannuation guarantee, payroll tax and workers compensation […]

By |10 March, 2022|Business|Comments Off on Are Your Contractors Really Employees?

Cash injection for struggling businesses

Businesses struggling with the Omicron wave of the pandemic have been offered new grants and support in NSW, SA and WA.

New South Wales

The NSW Small Business Support package provides eligible employing businesses with a lump sum payment of 20% of weekly payroll, up to a maximum of $5,000 per week […]

By |16 February, 2022|Business|Comments Off on Cash injection for struggling businesses

Professional Services Firm Profits Guidance Finalised

The Australian Taxation Office’s finalised position on the allocation of profits from professional firms starts on 1 July 2022.

The ATO’s guidance uses a series of factors to determine the level of risk associated with profits generated by a professional services firm and how they flow through to individual practitioners and […]

By |16 February, 2022|Business|Comments Off on Professional Services Firm Profits Guidance Finalised

Year of the Tiger: Roaring or Bellowing?

The 2022 Lunar New Year, Year of the Tiger, is courage and bravery. It is the year to drive out evil and one of momentum and change. The message; walk boldly with courage. And it seems the Reserve Bank Governor is aligned with this sentiment.

The Tiger economyAt a recent speech […]

By |16 February, 2022|Business|Comments Off on Year of the Tiger: Roaring or Bellowing?

2022: The year ahead

2021 was to be the year we returned to a post-COVID normal however the pandemic has fundamentally changed the way many of us operate in our personal and work lives. Here is some of what we can expect in 2022:Federal ElectionThe Federal election will be held between March and May […]

By |8 December, 2021|Business|Comments Off on 2022: The year ahead

How to set up your Director ID

Directors are now required to register for a unique identification number that they will keep for life.

What is a Director ID?

A director ID is a 15 digit identification number that, once issued, will remain with that director for life regardless of whether they stop being a director, change companies, change […]

By |23 November, 2021|Business|Comments Off on How to set up your Director ID
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