Unfortunately scamming continues so please be very aware. Scammers may contact you by phone, SMS, or email, and claim to be from the ATO. They will often ask you to provide personal information or money, or to click on links that can infect your computer with a virus. The ATO may occasionally contact you directly,
Small Business CGT Relief
Thinking of selling your business or a business use asset? Then this could be important to you! Capital gain tax applies to the capital gain made on the disposal of certain assets, except for some specific exemptions or concessions. The main exemption includes the principal place of residence. The other common concession is the 50%
Discounted rate on ASIC annual review fees
Advance payment of ASIC annual review fees: Companies and schemes can choose to pay their annual review fees in advance for a period of ten years by a single payment at a discounted rate. Advance payment will protect a company or scheme from future fee increases for the term of the payment. If your company
Allow yourself some breathing space…
Do you have Trauma insurance? Have you considered Trauma insurance? What is Trauma insurance? Trauma insurance pays you a lump sum on the diagnosis of a specified non-pre-existing illness or injury, including heart attack, stroke, cancer to name a few. The benefits of Trauma Insurance Trauma insurance gives you the
Xero Tip of the Month – Square
Have you heard of Square? Connect Square to Xero online accounting software and you can run your whole business seamlessly. With Square Reader, you can accept payments from anywhere, whether you’re in the store, on the job site or on the go. Every day your accounts in Xero will be updated with sales, refunds, and
Good, bad or ugly… the 2016 Federal Budget
So we’ve finally heard Scott Morrison’s federal budget (3/5/2016). From the information supplied to date the most prominent changes are to super and small business. From a small business perspective, the increase in turnover that defines a small business, means any business with a turnover of less than $10,000,000 can now access tax concessions previously
Anzac Day & Dawn Services
It is often suggested that the Dawn Service observed on Anzac Day has its origins in a military routine still followed by the Australian Army. The half-light of dawn was one of the times favoured for launching an attack. Soldiers in defensive positions were woken in the dark before dawn, so by the time first
Xero Tip of the Month – Invoice Reminders
Cash is King! Get paid faster with less effort. Instead of you spending hours chasing overdue payments, Xero can automatically email reminders to your customers. Just set and forget. Use the preset timeframes or adjust them to suit your business. Tailor the email message and the days overdue as needed. Or take a more proactive
Over 56? Then this affects you!
There is growing speculation that changes will be made to the tax treatment of Transition to Retirement Income Streams (TRIS’s) in this year’s Federal Budget which is to be announced early next month (3 May 2016). These changes may see a reduction in the tax benefits which currently apply to these pensions and associated strategies.
2016 Federal Budget…should we be worried?
With almost every conceivable tax saving on the table in the last 6 weeks, what’s still left standing for the government to consider? To date the government has ruled out changes to the GST system, changes to capital gains tax and negative gearing (or has it?). What we do know for sure is it hasn’t
