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2023 Strategy

Full throttle in 2023

In a volatile market, keeping to a strategy, or let’s face it creating one, can be tough. The downside of not taking time out for your strategy is that there is a tendency to keep a short-term focus at an operational level to try and pick quick wins to generate financial returns. Sometimes in the…

What to Expect from the New Government

Anthony Albanese has been sworn in as Australia’s 31st Prime Minister and a Government formed. We look at what we know so far about the policies of the new Government in an environment with plenty of problems and no easy fixes. The Economy The Government has stated that its economic priority is, “creating jobs, boosting…

Tax Time Targets

 The ATO has flagged four priority areas this tax season where people are making mistakes. With tax season almost upon us the Australian Taxation Office (ATO) has revealed its four areas of focus this tax season. Record-keeping Work-related expenses Rental property income and deductions, and Capital gains from crypto assets, property, and shares. In general,…
Don’t double dip your deductions this tax time

Don’t Double Dip Your Deductions this Tax Time

The Australian Taxation Office (ATO) is reminding people not to make the mistake of double dipping their deductions in their tax return this year. Assistant Commissioner Tim Loh explained “Around 8.4 million Australians claimed nearly $19.8 billion in work-related expenses in 2021. That’s a lot of deductions so we want to make sure you get it right…
Accounting Auditing Accounting Record

What Expenses Can I Claim Whilst Working From Home?

There has been a significant push in recent times for businesses to offer the option to work from home due to the global pandemic and various lockdown restrictions due to COVID-19. The transition to working from home has come with a number of benefits for workers, including a more convenient working lifestyle and the removal…
Pandemic Leave Disaster Payments rules change

Changes to Pandemic Leave Disaster Payment Rules

The rules for the Pandemic Leave Disaster Payment, the payment accessible to those who have lost work because they have had to self-isolate with COVID-19, or are caring for someone who contracted it, changed on 18 January 2022. The new rules change the definition of a close contact in line with the harmonised national definition.…
Businesses struggling with the Omicron wave of the pandemic have been offered new grants and support in NSW, SA and WA.

Cash injection for struggling businesses

Businesses struggling with the Omicron wave of the pandemic have been offered new grants and support in NSW, SA and WA. New South Wales The NSW Small Business Support package provides eligible employing businesses with a lump sum payment of 20% of weekly payroll, up to a maximum of $5,000 per week for the month…
At a recent speech to the National Press Club, Reserve Bank Governor Philip Lowe was optimistic about Australia's prospects in 2022

Year of the Tiger: Roaring or Bellowing?

The 2022 Luna New Year, Year of the Tiger, is courage and bravery. It is a year to drive out evil and one of momentum and change. The message; walk boldly with courage. And it seems the Reserve Bank Governor is aligned with this sentiment. The Tiger economy At a recent speech to the National…
$1bn Small Business Support Package

NSW Governments announces $1bn support package for struggling NSW Small Businesses

The NSW Government has announced a $1bn support package for struggling NSW small businesses. Acknowledging the difficulty that business operators have faced, the NSW Treasurer Matt Kean has announced a package of measures to support small businesses impacted by COVID-19 over January and February 2022. Releasing the package, the NSW Treasurer said, “household balance sheets…
The top Christmas tax questions

The Top Christmas Tax Questions

Every year, we are asked about the tax impact of various Christmas or holiday related gestures. Here are our top issues: Staff Gifts The key to Christmas presents for your team is to keep the gift spontaneous, ad hoc, and from a tax perspective, below $300 per person. $300 is the minor benefit threshold for…
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