Big Banks Outline Mortgage Repayment Relief

Big Banks Start to Release Loan Package and Mortgage Relief Options

The major banks have outlined how they are supporting those affected by the coronavirus pandemic and its economic impacts, including mortgage repayment relief and interest rate reductions. On Thursday (19 March), the Reserve Bank of Australia (RBA), the federal government and the Australian Prudential Regulation Authority (APRA) announced a raft of new measures to support the domestic economy in the wake of the…
Small Business Empty due to COVID-19

ATO Implements Support Measures to Assist Those Affected by COVID-19

The Australian Taxation Office (ATO) will implement a series of administrative measures to assist Australians experiencing financial difficulty as a result of the COVID-19 outbreak. Commissioner of Taxation Chris Jordan is encouraging businesses impacted by the coronavirus to get in touch with the ATO to discuss relief options. “We know that many businesses and communities…
The Stimulus Package - What You Need To Know

The Stimulus Package: What You Need To Know

Following the Prime Minister’s media announcement late last week we have compiled a summary of the government’s COVID-19 economic stimulus support plans for both individuals and small businesses. We will provide additional client alerts and announcements on various matters as and when required, however for now if you or your business requires support, please reach…
Couple Wanting to Change Accountants but don't know how

The Daunting Decision of Changing Accountants

Whether you’re a sole trader working from home whilst juggling the kids, own a cafe, just purchased a franchise, or run an established business, owning and operating a small business can be challenging even at the best of times. When there are downturns in the economy, or lending institutions tighten credit, a small business owner…
Young female Choosing an accountant

How to Choose the Right Accountant

Choosing an accountant is like choosing a new business partner. The right accountant will become a trusted colleague you can depend on, who offers advice and guidance as your small business grows. So what are the top things you need to look out for? Top tips for choosing an accountant Once you’ve decided it’s time…
Early Stage Business Owner with Employees

How to make your early stage business run more efficiently

Early stage businesses should be looking for ways to make their employees more productive and their business more efficient. More often than not, the answer lies in technology. But that doesn’t necessarily mean buying all the business-ready technology and software that’s available – instead, it’s about identifying which will have the most positive impact on…
Carpark

ATO Called Out on Draft Car Parking FBT Ruling

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The professional accounting bodies have called on the ATO to withdraw its draft car parking fringe benefits taxation ruling, arguing that it would capture regional employers and slug an extra $1.6 million in FBT costs to current taxpayers. Late last year, the ATO released draft taxation ruling 2019/D5, detailing conditions considered as providing a car parking benefit.…
Family Home Living Area

Clients Warned On CGT MRE Changes: ‘Don’t be too clever’

Clients affected by changes to the main residence exemption have been urged to be “very careful” when attempting to navigate the transitional provisions, with anti-avoidance rules potentially applying. Late last year, the government passed changes that would deny non-residents the CGT main residence exemption for CGT events that happen on or after 9 May 2017,…
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