Read the latest news, get tax advice and keep up to date with our timely and informational short reports.
Should you hire your spouse or hire an employee instead? Many small businesses hire spouses to help you with the books, perform administration tasks or even as partners. At first glance, hiring a spouse is a good idea, but don’t forget to understand how this impacts STP, superannuation and tax offsets.
Tax time is upon us. Savvy small businesses around Australia should have rounded up 2022 and started their planning for 2023. In our short report, we detail what you should know about Covid stimulus payments, temporary full expensing and loss carry back and revenue goals.
If you provide rental accommodation, run a side-hustle or take advantage of the gig-economy there are a lot of considerations when it comes to tax. The take-away is that if you’re not claiming all tax deductions, you’re paying too much. So, how do you improve your tax return?
Did you know: Coins stay in circulation for about 30 years? After that time, it’s deemed they are too tarnished and worn to be used! If you’re curious about money and want to win some points on trivia nights, we have more fun facts about money you may not know.
The Superannuation Guarantee (SG) is the minimum amount that your employer should pay into your fund and has been increased to 10.5% from 1 July 2022 and is set to increase 0.5% every year until it reaches 12% from 1 July 2025. Our short report details what you should be aware about when it comes to your super.
The end of financial year (EOFY) is a time to claim all eligible tax deductions on offer. When people think of tax deductions for their businesses, they automatically think of operating and capital expenses, but did you know there are a range of deductions on payroll, superannuation and fringe benefits that can be claimed?