Federal Budget 2022-23
The Federal Budget has been brought forward to 29 March 2022. With the pandemic and the war in Ukraine we have seen a lot less commentary this year about what to expect in the Budget.
Federal Budget 2022-23 Read More »
Professional Services Firm Profits Guidance Finalised
The Australian Taxation Office’s finalised position on the allocation of profits from professional firms starts on 1 July 2022.
Professional Services Firm Profits Guidance Finalised Read More »
What is a Director Identification Number? Who Needs a DIN?
Pat Mannix talks about Director Identification Numbers (DIN). What is a DIN? Why do the directors of Australian companies need one? What date do you need to apply by? Pat answers all of these questions in this informative short video.
What is a Director Identification Number? Who Needs a DIN? Read More »
Understanding Your Profit & Loss and Balance Sheet Statements
As a business owner it’s crucial that you keep track of your finances. You don’t need to be an expert on all the reporting if you have a bookkeeper who assists you, but you do need to keep an eye on two key reports to know that you have control of your company’s financial health.
Understanding Your Profit & Loss and Balance Sheet Statements Read More »
Kids Over 18 in a Family Trust and Distributions
Pat Mannix talks about the distribution and tax changes that occur within a Family Trust once a child is over 18 years old. Check out this informative short video.
Kids Over 18 in a Family Trust and Distributions Read More »
PCR and RAT tests to be tax deductible, FBT free
The Treasurer has announced that PCR and rapid antigen tests (RAT) will be tax deductible for individuals and exempt from fringe benefits tax (FBT) for employers if purchased for work purposes.
PCR and RAT tests to be tax deductible, FBT free Read More »
Year of the Tiger: Roaring or Bellowing?
The 2022 Luna New Year, Year of the Tiger, is courage and bravery. It is a year to drive out evil and one of momentum and change. The message; walk boldly with courage. And it seems the Reserve Bank Governor is aligned with this sentiment.
Year of the Tiger: Roaring or Bellowing? Read More »
ATO assistance for those with overdue payments and lodgments
A reminder has been released from the Australian Taxation Office to advise that there is help available for those who are currently not up to date with their payment and lodgment obligations.
ATO assistance for those with overdue payments and lodgments Read More »
Pandemic Leave Disaster Payments rules change
The rules for the Pandemic Leave Disaster Payment, the payment accessible to those who have lost work because they have had to self-isolate with COVID-19, or are caring for someone who contracted it, changed on 18 January 2022.
Pandemic Leave Disaster Payments rules change Read More »
Temporary Full Expensing update – Will It Affect You?
Temporary full expensing (‘TFE’) provides support for businesses, and it encourages investments. Is your business eligible to claim an immediate tax deduction for the cost of an asset this financial year? Let’s look at the impacts of the Temporary Full Expensing rules for small to medium enterprises.
Temporary Full Expensing update – Will It Affect You? Read More »