Super stapling and your work
From 01 November 2021, ‘fund stapling’, as legislated by the Federal Government, comes into effect. So, what is ‘fund stapling’ and what does this mean for you? …
Income Protection Insurance: more changes from 01 October 2021
On 01 April 2020, the Australian Prudential Regulation Authority (APRA) began making changes to the Income Protection (IP) insurance landscape, with Agreed Value policies no longer available as new policies. Further changes will com …
EOFY 2021: Tax and cash flow planning
The end of the financial year is an important time to consider a number of tax planning initiatives to help minimise your tax liability and increase any potential refund. Timing is a traditional hallmark of tax planning, so keep in …
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. …