The Government has announced a once-off $420 ‘cost of living tax offset’ for the 2022 income year, which will be provided in the form of an increase to the existing LMITO. This will increase the maximum LMITO benefit to $1,500 […]
Xero’s small business trends report shows that 60% of small business owners are worried about their household finances running low.
So while 2022 will hopefully be a year of rebounding sales […]
Based on our analysis, the big winners appear to be:
Business – the instant tax deduction for buying equipment, cars, […]
This expansion of STP reduces the reporting burden for employers who need to report information about their employees to multiple government agencies and supports […]
Payroll tax relief
The 2020/21 NSW State Budget has announced a temporary reduction in the payroll tax rate to 4.85% for the 2020/21 and 2021/22 financial years. The threshold will also increase […]
1.1 Changes to personal income tax rates
The Government has announced that it will bring forward changes to the personal income tax rates that were due to apply from 1 July 2022, so that these changes now apply from 1 July 2020 (i.e., from […]
Once you’ve defined your Action Plan, it’s time to understand what this means financially for you and your business.
Start to build your budget. Why do we budget?
Quite simply, making sure the goals and targets you’re setting, and the action […]
We hope you’re managing and working your way through what has been one of the most challenging times from an economic and also from a social point of view certainly in our lifetime.
As we consider this new financial year despite the challenges we have been […]
Foreign resident CGT main residence exemption
These measures were first […]