Why are insurance premiums on the rise?

Just like you, I have been shocked at the cost of insurance premiums this year. This article might help you decipher the myth of why they keep going up. Premiums for car, home and home contents insurance have been on the rise — and for many households, they’re contributing to cost of living stress. If…

{ Read more }

ATO’S $13,200 FINE FACING COMPANY DIRECTORS

The deadline to have a Director ID is 30th November 2022. Please apply for it URGENTLY to avoid the hefty penalties. It is free to apply and obtain a Director ID. The quickest way to lodge an application is online using the myGovID app. See and follow the link: https://www.abrs.gov.au/director-identification-number/apply-director-identification-number Remember that the website tend…

{ Read more }

Why Am I Paying Medicare Levy Excess

We recently got asked this question by a client who wanted to understand Private Health Insurance (PHI) and the Medicare Levy. Let us take it back to basics. Medicare levy Most Australians pay the Medicare levy of 2% of their taxable income as part of their tax to help fund some of Australia’s public health…

{ Read more }

ATO extends simplified working from home deductions

The ATO has extended its temporary arrangements to enable employees to use a simplified method of calculating deduction for working from home.   Maja Garaca Djurdjevic October 02, 2020 Employees working from home as a result of the COVID pandemic can continue to claim a rate of 80 cents per hour by keeping a record of the number…

{ Read more }

COVID-19 Australian Bank Assistance

Darren Stacey , National Leader, Finance Solutions Executive Director, Debt Advisory BDO Australia Given the significant market disruptions now becoming apparent across the country, the major Australian banks have announced how they will assist their impacted business customers. While many individuals are rightly focussing on the health and wellbeing of their own family, the impacts on…

{ Read more }

Government Stimulus Plan In Response To COVID 19 Including Tax Measures

On 12 March 2020, the Australian Government announced its economic response to the coronavirus (COVID-19). The ATO also released a series of administrative concessions for taxpayers. The Federal Government has announced a further $66 billion package not listed here. Tax incentives for business investment Instant asset write- off Depreciation Rebate Subsidies Increased threshold from $30,000 to $150,000 Accelerated depreciation to…

{ Read more }

Your Business Survival Checklist for Covid 19, Coronavirus

We live in unprecedented times physically, socially and as businesses: financially and economically. We are phasing an unknown enemy: COVID-19 and how your business will adapt and emerge at the end of this turmoil is tied up to your response, leadership and planning in the time you have NOW. Below are some of the strategies…

{ Read more }

Do you import goods worth A$1,000 or less?

Do you import goods worth A$1,000 or less?   From 1 July 2018 overseas businesses that meet the GST registration threshold of A$75,000 will need to charge GST on goods that are: less than A$1,000 (low value) imported into Australia not GST-free (such as most basic food, alcohol, tobacco, or tobacco products). How will this…

{ Read more }

THE AUSTRALIAN DOLLAR JUST FELL TO ITS LOWEST LEVEL IN 2018

Selling the Australian dollar one indicator that expresses a view the world is a riskier place today than it was yesterday. Judging by the heavy selling over the past few months this is currently the case. In mid-June 2018 the Australian dollar was trading at around its lowest level in more than a year, falling…

{ Read more }

Reduce Your Insolvency Risk

The latest Trade Payments Analysis from Dun & Bradstreet shows businesses are waiting on average almost 45 days for payment. Slow payment not only impacts on your ability to pay your suppliers on time, it also reduces your ability to grow the business and increases your likelihood of insolvency.

{ Read more }

Superannuation Reforms Passed

On 23 November 2016, some of the most far-reaching superannuation reforms of the past decade were passed by both Houses of Parliament. The superannuation reform package was announced in the 2016-17 Budget and amended following consultation.

{ Read more }

Choosing the right business structure

When starting a business, it is very important to choose the business structure that best suits your needs.

There is a range of factors to be considered when choosing a structure and these will vary according to each case.

{ Read more }

Five rules for managing your cash flow

When starting a business, it is very important to choose the business structure that best suits your needs.

There is a range of factors to be considered when choosing a structure and these will vary according to each case.

{ Read more }