31/10/2022

THE UPDATED FEDERAL BUDGET 2022–23The Treasurer, the Hon Dr Jim Chalmers MP, handed down his (and the Albanese Government’s) firstBudget on 25 October 2022.There were few tax measures in the Budget. What measures there were mostly affect multinationals.You can read about the tax measures further the the newsletter. TaxWise_Business_Budget_Nov2022Download

21/6/2022

The ATO have announced that there will be four focus areas on their radar during Tax Time 2022 – record-keeping, work-related expenses, rental property income and deductions, and capital gains from crypto assets. It is reminding taxpayers that there are three golden rules when claiming a deduction: You must have spent the money yourself and…

6/4/2022

Our TaxWise Budget newsletter is now available.  PrincipleFocus-TaxWise-Federal-Budget-2022-23Download

18/6/2021

You’re running a business, so you know the legal requirements around producing accounts and submitting tax returns. But do you truly know WHY you’ve engaged an accountant? And do you understand the value that a good accountant and business adviser can add to your company? As a business owner, managing director or CEO, there are…

12/5/2021

This budget seems to be 'more of the same' from our government, nothing massively surprising here, nothing game-changing however there were a couple of hidden gems for individuals, specifically around superannuation. Here we'll take a look at the proposals that are likely to be most important to our clients. Given that these are just announcements…

15/4/2021

Our latest TaxWise Individual newsletter is now available. COVID-19 measures: How you might be affected, Stimulus vouchers: How to report this in your tax, Investment incentives: What’s changed? Do you use trading stock for private purposes, vehicle registrations: data-matching, the fight against tax crime, PAYG instalments Download your copy now. PrincipleFocus-TaxWise®-News-Individual-April-2021-1-1Download

2/2/2021

The JobMaker Hiring Credit scheme is designed to encourage businesses to employ additional young jobseekers aged 16-35 years. The hiring credit subsidises an increase in employee headcount. Eligible employers can receive the hiring credit for up to 12 months for each eligible employee engaged between 7 October 2020 and 6 October 2021. Registration for the…

18/11/2020

The NSW budget champions a business-led recovery, supporting businesses to grow, invest and create jobs in their local communities.  Highlights for Business Payroll tax thresholds and cuts:  The payroll tax threshold will be increased to $1.2 million with the rate of payroll tax lowered from 5.45 to 4.85 per cent for the next two years.…

7/10/2020

We were quietly hoping for something really ground-breaking with this year's budget. Given all that has happened this year the government were in a strong position to deliver some (desperately needed) tax reform and provide some vision for a better Australia.  As Churchill stated: “Never let a good crisis go to waste”. This budget has…

23/7/2020

Key points An additional $2 billion announced for the RIC’s drought-related loansApplications for interest-free loan terms will close 30 SeptemberApplications received after 30 September will still have record low interest ratesAgriStarter Loan applications will open from 1 January 2021An additional $50 million in RIC operational funding to deliver more loans The additional funding is in…