Tax Alert September 2021 Although smaller businesses are now enjoying a lower corporate tax rate, their quarterly super bills have gone up, following the latest indexed rise in the Super Guarantee rate. Here’s a roundup of some of the other…
Frankly Speaking: Tax benefits of shares Australian shares are popular investments with self-funded retirees and anyone who depends on income from their investments, due in part to the favourable tax treatment of franked dividends. After falling off in the early…
The Government is continuing to tighten the eligibility rules for claiming tax concessions relating to small business capital gains tax (CGT) obligations. If you qualify, these concessions can have a big impact on how much of the profit from the…
Important dates August 2021 Business Company Tax Rate 1 July: Decreased to 25% for base rate entities from 26% Superannuation 1 July: Superannuation guarantee contributions increased to 10%, from 9.5%. Will continue to increase by 0.5% each financial year upto 12% on 1…
Your post-COVID business repair kit With June 30 behind us and the economy slowly re-opening, most business owners are thinking about the challenge of repairing and rebuilding their finances after the COVID-19 lockdown. Over the next few months, key tests…
Retrain your staff with the tax man's help For many business owners, fear of incurring a Fringe Benefits Tax (FBT) bill has kept them from retraining and re-skilling their employees to perform different roles or activities within the business. But…
Achieving success through habits The new financial year offers an opportunity for taking an ‘out with the old, in the new’ approach, making a fresh start in relation to your financial affairs, it’s also a good opportunity to re-examine other…
With many people now working from home because of COVID-19, some of the expenses your employer normally covers – such as electricity, heating and cooling – are coming out of your pocket instead. Some employers provide a daily allowance to…
Running a business keeps you pretty busy, so it’s easy to overlook the help that’s available. Many small businesses don’t realise the government offers a range of valuable concessions that can make a real difference to their annual tax bill.…