Tax deductions for bad debts
April 2021 has become a closely observed month with many of the government’s COVID-19 economic supports coming away. As with the wind down of any stimulus, there’ll be inevitable business casualties, …
FBT: Small Business Concessions
If you own a small business still recovering from the COVID-19 economic downturn, remember that you can take advantage of Fringe Benefits Tax (FBT) concessions to lower the amount of FBT you need to …
Tax impact of multiple jobs
It’s not uncommon these days for people to have more than one job and employer, or even a mix of wages and contract income, as a way of maintaining their preferred lifestyle. But what are the tax implications of this? …
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; 1) structuring the transaction and 2) positioning the business to the market. Both elements are important and can sig …
Remember when term deposit interest rates meant something
Cash plays a significant role in our lives. It provides stability and reassurance, liquidity, flexibility and comes with a government guarantee of up to $250,000 for bank deposits. …
JobKeeper: what's changing
Businesses receiving JobKeeper payments need to be aware of recent changes which extend the eligibility of the program, meaning more of your employees may be eligible. Employee eligibility has been changed …
Doing business with a trust entity
Did you know that a trust is not a legal entity for the purpose of enforcing a debt? This means it can be incredibly difficult, and sometimes simply impossible, to enforce a debt unless you know the name of the trustee of the trust. …
Self-Managed Super at EOFY
The 2019-2020 financial year is like none we have experienced in recent memory, with the Coronavirus pandemic throwing societies and economies into unknown territory. Despite this, it's still important for anyone who holds a self-ma …
Government benefits and aged care
With the end of the 2020 financial year approaching, it's an important time to consider options that might be available to you or other members of your family in relation to Government benefits and/or accessing aged care services. …
The importance of insurance
A significant number of working Australians remain under-insured or even worse, totally uninsured. Either way, this can have dire consequences for families in the unfortunate event of a family member passing away, having a serious i …