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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!

$5 million Specialist Advice Program

Program Overview 

The Victorian Government announced the $5 million Specialist Advice Pathways Program as part of the 2022-23 State Budget. The program supports established employing businesses who have remained in business despite the challenges presented by COVID-19. To do this they have had to re-invest, change core business activities, or limit […]

By |31 August, 2022|Government|Comments Off on $5 million Specialist Advice Program

How high will interest rates go?

The RBA lifted the cash rate to 1.85% in early August 2022. The increase comes a few weeks after Reserve Bank Governor Philip Lowe told the Australian Strategic Business Forum that “…we’re going through a process now of steadily increasing interest rates, and there’s more of that to come. We’ve […]

By |10 August, 2022|Finances|Comments Off on How high will interest rates go?

Can I claim my crypto losses?

The ATO has released updated information on claiming cryptocurrency losses and gains in your tax return.The first point to understand is that gains and losses from crypto are only reported in your tax return when you dispose of it – you sell it, convert it to fiat currency, exchange it […]

By |10 August, 2022|Tax|Comments Off on Can I claim my crypto losses?

FBT-free Electric Cars

New legislation before Parliament, if enacted, will make zero or low emission vehicles FBT-free. We explore who can access the concession and how.

Electric vehicles (EV) represent just under 2% of the new car market in Australia but it is a rapidly growing sector with a 62.3% jump in new EV […]

By |10 August, 2022|Tax|Comments Off on FBT-free Electric Cars

It’s not easy being green

Climate change featured heavily during the election and now the Albanese Government is putting into place some of the promises it made.  We look at the current state of play and the likely impact.

  The Government’s Climate Change Bill passed the House of Representatives in early August and is now before […]

By |27 July, 2022|Government|Comments Off on It’s not easy being green

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

What changed on 1 July?

A reminder of what changed on 1 July 2022

Business

Superannuation guarantee increased to 10.5%$450 super guarantee threshold removed for employees aged 18 and overSmall business GST and PAYG tax instalments lowered (the total tax liability remains the same, just the amount the business needs to pay through the year is lowered)ATO […]

By |27 July, 2022|Tax|Comments Off on What changed on 1 July?

Tax & the family home

Everyone knows you don’t pay tax on your family home when you sell it…right? We take a closer look at the main residence exemption that excludes your home from capital gains tax and the triggers that reduce or exclude that exemption.

Capital gains tax (CGT) applies to gains you have made […]

By |27 July, 2022|Tax|Comments Off on Tax & the family home

ATO refocuses on debt collection

The ATO has not pursued many business tax debts during the pandemic and allowed tax refunds to flow through even if the business had a tax debt.  That position has now changed and the ATO has resumed debt collection and offsetting tax debts against refunds. If you have a tax […]

By |15 June, 2022|Tax|Comments Off on ATO refocuses on debt collection
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