Wondering how the 2021-2022 Federal Budget affects you? We’ve broken down the below key points from last night’s announcement. INCOME TAX As expected, the government is extending its scheme that will refund Australians up to $1,080 come tax time by one more year. The low and middle income tax offset was a temporary measure designed […]

Director, Katrina Purcell not only uses her defence skills on the hockey field, but she also uses them in accounting to prevent you from paying too much tax. With tax time approaching, Katrina provides some tips on how you can minimise your tax this financial year! After more personalised advice on all things tax planning?  […]

Pam Badke, Director – explains the Government’s announcement to extend the program until 30 June 2022. The term ‘Instant Asset Write Off’ is old news! It now goes by Temporary Full Expensing. Previously known as the Instant Asset Write Off, the program allows businesses with an aggregated turnover of less than $5 billion to immediately […]

With the JobKeeper program scheduled to conclude on the 28th March 2021, as a business owner it is suggested you plan for what could happen when your cash flow safety net is removed. It’s essential to think about – How you will cover costs? How will you adjust operations? How will you continue to grow […]

In line with Fuel Excise Indexation, the fuel tax credit rates have increased since the start of February. If your business claims less than $10,000 each year using diesel in heavy vehicles, there is now an easier way to calculate your fuel tax credits. To use the method, all you need is the distance you […]

Ian Lewis, Director – discussing Queensland’s recent changes to construction industries QBCC annual financial report. Calling all workers in the construction industry! Have you submitted your QBCC Financial Report? The annual report is a quick health check of license to ensure every building contractor who operates in Queensland has a strong business with a sufficient […]

COVID-19 has had a massive impact on Australian businesses and the economy. Due to this, there has been a number of important financial lessons that your business can learn from to ensure ongoing success and prompt recovery. The importance of contingency planning COVID-19 has highlighted the saying ‘those who fail to plan, plan to fail’. […]

Great news for those that are continuing to work from home this year – the Tax Office has now extended the 80¢ per hour shortcut method until 30 June 2021. This is the third time the Tax Office has extended the shortcut method. It was first due to expire at the end of the last […]

The JobKeeper Payment (JKP) has been extended and covers the JobKeeper fortnights from Monday 4 January 2021 to Sunday 28 March 2021. Businesses are required to re-assess their eligibility to remain in the scheme and must satisfy two separate decline in turnover tests, being: the original projected GST decline in turnover test and the new […]