Tax cuts are official! With the Senate passing the Government’s tax plan in full, most taxpayers can expect to see some extra cash in their tax refund this year. If you earn between $48,000 and $90,000, you can expect to receive an extra $1,080 The extra refund reduces for incomes above $90,000, and […]
Tax stuff
11 posts
The new financial year has commenced, which means it’s time to get your annual payroll finalised. Here’s a few key tips to make your end-of-year payroll a breeze! Generate your end-of-year summary reports before commencing payroll finalisation so you can check and reconcile your payroll as you work through […]
Last night, the Queensland Government handed down the 2019-20 state budget. The budget provides payroll tax relief for small business, and a reduction in payroll tax for regional employers. This is partly funded by an increase in the payroll tax rate for large business, and an increase in the land […]
Single Touch Payroll – beat the rush! Time is running out to get STP ready by 1 July 2019. There are advantages to get setup now: Less time waiting on hold – most people will need to phone the Tax Office to link their payroll software, and we expect there […]
Australia voted for business as usual! With the re-election of the Coalition Government, the Australian Labor Party’s ambitious tax plan is now off the table. The election campaign focussed on Labor plans, with very little policy from the Coalition. We have summarised the key tax changes that are expected to […]
The NTAA recently published a summary of the key tax reforms proposed by the Labor party, and we have reproduced this in the table below. We have updated the table to include key tax reforms announced by the Coalition in the 2019/20 Federal budget, and the Opposition’s Budget Reply speech. […]
What is Single Touch Payroll? Single Touch Payroll (STP) is a new payroll reporting standard, where employers are required to electronically report their payroll information to the Australian Taxation Office (ATO) on or before employees are paid. What this means for Employees If your employer is reporting under STP, they […]
How To Have A Seasoned ‘CFO’ Help Guide Your Business Decisions Larger businesses have a Chief Financial Officer (CFO) on staff. But what can small and medium sized businesses do in this regard? Clearly, larger businesses can afford an in-house CFO. But it goes beyond an affordability issue: Large, successful businesses also […]
As a business owner, you know the importance of risk management and mitigation. To protect yourself you need to regularly: review your operation’s processes to make sure they’re meeting workplace health and safety requirements review your supplier chains to make sure products are available survey customers to gauge their satisfaction […]
“A digital file doesn’t exist unless it’s in three places” When I heard this comment the other day I thought it was simple, yet profound. It came from my daughter, who heard it from one of her lecturers. She’s studying film and television at university. And of course, everything in […]
Thomas Edison once said that “Genius is one percent inspiration and 99 percent perspiration”. Unfortunately, going from that inspirational idea to the finished product takes a lot more than hard work. Just like Edison, you also need to invest in a lot of research and development. And R&D doesn’t come […]