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 }

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 }

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 }

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 }