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 […]
Most people would think that money provided by the Government to support people and business during a crisis would be tax free? Otherwise, it’s like giving money with one hand and then taking it away with the other, isn’t it?But, the tax laws don’t work like that. To make a […]
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 […]
If you are selling your business, merging, acquiring, or inviting in new investors, you need to understand the value of your business. But, to what degree does the pandemic impact on value? Should you discount or hold firm to pre COVID-19 performance on the basis that ‘we’re going to come […]
Every tax time is an opportunity for scammers to target the unwary.
This time around, the scammers are phoning and claiming to be from the prosecutions department of the ATO. They then state that they believe you have committed fraud and the Sheriff’s Office has been called. You can of course […]
Breaking up is hard to do. Beyond the emotional and financial turmoil divorce creates, there are a number of business issues that need to be resolved.
What happens when there is a family company?
A recent ruling from the Australian Taxation Office (ATO) will create a tax burden for many divorcing couples that […]
Former Prime Minister Paul Keating recently suggested that Self Managed Superannuation Funds (SMSF) should be restricted from investing in residential property.
Mr Keating told the Financial Review, “If I was treasurer today, I would be looking very hard at the whole entitlement or availability of debt to SMSFs. They have gearing […]
If you have a digital coin, is it real? And if it’s real do you have to pay tax on it? According to the Australian Taxation Office (ATO), the answer depends on how you are using it and why.
The ATO recently released its position on the tax treatment of the […]
The 2% debt tax is in and the carbon tax is out. We look at some of the highlights for the new financial year.
The push for change
The Senate composition changed on 1 July and with it, the Government’s opportunity to push through its reform agenda. The reintroduced repeal Bills for […]
Welcome in the new financial year by brushing up on the changes to your you and your business:
Individuals
Temporary Budget Repair Levy adds 2% to the tax rate for every dollar of a taxpayer’s annual taxable income over $180,000
Increase in the Medicare Levy from 1.5% to 2%
Superannuation Guarantee charge increases from 9.25% […]
Gallery
Gallery
