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Blog
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08Aug2021
How can I generate more profits
The whole point of running a business is to make money. That doesn’t mean that you should be blind to anything but money, money, money. Building a healthy business is all about being strategic. There are times when losing money now can mean a big pay off later. But in the main, you should only […]
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- Posted by: user
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28Jun2021
Single Touch Payroll
STP is compulsory now. In fact it has been for a while. It has been possible to get concessions but these have have pretty much been ended and there is virtually no exception now to you having to report payments you make to employees to the ATO every single time you do a pay run. […]
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29May2021
Sole Trader
A sole trader is the most basic business structure there is. It’s simple, cheap and has the fewest reporting requirements. While it has it pros – it has some cons as well. How does it work? You use your Tax File Number (TFN) to lodge your income tax return as you normally do and everything […]
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02May2021
How to apply for the Jobs Victoria Fund
The Jobs Victoria Fund is a new initiative by the Victorian government to provide support to employers looking to take on new staff. That means $250 million in wage subsidies that you can apply for to help you to pay for new employees. The staff have to come from at least one of groups that […]
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05Apr2021
Tax Deductions
Pretty much everyone who works or earns an income can claim some sort of deduction when it comes time to do your income taxes. Correctly claiming deductions (so you don’t over claim and get into trouble or under claim and pay too much tax) can be quite convoluted. There are specific deductions that apply only […]
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27Feb2021
Departing Australia superannuation payment (DASP)
Departing Australia superannuation payment (DASP) If you have worked in Australia while on a temporary visa or on a working holiday, you have probably ended up with some superannuation money which is being held by your super fund. This might be a super fund you chose – or one your employer or employers chose for […]
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31Jan2021
Jobmaker Explained
First Jobkeeper and Jobseeker and now we have Jobmaker. Yet another complex and hard to understand government initiative to get us all through COVID and it’s aftermath, in one piece. Not that you can complain too much. The various Job – etc’s and so forths have done a magnificent job of providing a port for […]
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04Jan2021
Fringe Benefits Tax
What is it and what do I need to do about it? A guide for businesses. The deadline for FBT is the 31st of March. So it’s time for businesses to start getting ready. Keep in mind that if you have employees you probably should submit an FBT return even if you don’t need to […]
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01Dec2020
What is the difference between a contractor and an employee?
It can be sometimes hard to work out what the difference is between your business taking on an employee and taking on a contractor. But it is important for you to get it right because both roles are protected and regulated by different legislation. Your obligations in terms of holidays, tax/PAYG, super and other things […]
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31Oct2020
Pay As You Go Instalments
So you just did your income tax and the next thing you know – you get a letter from the tax man telling you that you have to pay some of this years tax ahead of time in instalments! What happened? Pay As You Go Instalments (PAYGI) is where the Australian Taxation Office believes that […]
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