Federal Budget 2022/23 - Individuals, Business & Super - Most Relevant Items   We have taken out the relevant components the Federal Budget 2022/23 and summarised in a concise format...

NSW and Federal Government Covid-19 Updates   NSW Government:COVID-19 Business GrantBusinesses30% Decline in turnover50% Decline in turnover70% Decline in turnoverFinancial Grant$7,500 (Tier 1)$10,500 (Tier 2)$15,000 (Tier 3)Requirements: Active ABN registered...

Trust Tax Planning 2021   Annual Distribution Resolutions or Minutes of Meeting Trustee resolutions and minutes of meeting regarding the annual distribution of trust income must be documented prior to...

SMSF Tax Planning 2021   Minimum Pension Amounts If you are a member of a self-managed super fund (SMSF) and have a pension in place during the financial year, ensure...

Employer Tax Planning 2021   Staff Bonuses/Director Fees These expenses may be tax deductible prior to payment, as long as you are committed to paying these amounts. You will need...

Individual Tax Planning 2021   Personal Tax Rate Changes From 1 July 2020, the top threshold of the 19% personal income tax bracket is increased from $37,000 to $45,000 and...

Business Tax Planning 2021   Small Business Specific (Aggregated turnover <$10M) Prepaid Expenses Claim expenses prepaid up to 12 months in advance, many of which would include interest, insurances, rent...

Casual Employees (and their new rights to become Permanent)   Effective:27 March 2021Requirements:All businesses to issue Casual Employees with a “Casual Employment Information Statement”Casual Employee Definition:“If they accept an offer...

NSW Small Business Fees and Charges Rebate of $1,500 (increased to $3,000)   Eligibility Total Australian wages below the NSW Government 2020-2021 payroll tax threshold of $1.2 million Have an...

Time To Review Your Financial Health   With the end of the financial year just around the corner it is the perfect time to review your financial health. The recent...