Post Type: Article

Due to COVID-19 your working arrangements may have changed. If you have been working from home, you may have expenses you can claim a deduction for at tax time. While there is a temporary shortcut method that the ATO has introduced, of 80c per hour of working from home time, we recommend you track all…

The Victorian Government announced updated restrictions for Melbourne and regional Victoria to help slow the spread of coronavirus (COVID-19) in Victoria. Stage 4 restrictions are in place from 6pm on Sunday 2 August for metropolitan Melbourne. Stage 3 restrictions are in place from 11:59pm on Wednesday 5 August for Regional Victoria, including Mitchell Shire. These…

As a business owner, you obviously rely on your business to support yourself and your employees day-to-day, but you may also rely on it as a mechanism to fund your retirement?  As such, over the years, you may have reinvested almost every dollar earned back into the business. This money may have been spent to…

The Federal Government has released a new proposal to the current JobKeeper scheme. Business owners currently receiving JobKeeper (or likely to before 27 September 2020) are now eligible to consider employees that were on their books as of 1 July 2020 for the government JobKeeper payment. Previously, the initial requirement was that the employees needed…

The government has announced an extension to the JobKeeper Program which would extend payments made to businesses from the upcoming end date of 28 September 2020 up to 28 March 2021. Businesses will need to requalify for the second part of the scheme that begins on 29th September 2020. While many businesses will benefit from…

We know that COVID-19 has presented Ballarat business owners with some of the toughest business challenges ever faced. But we believe that with the right advice your business can not only survive but thrive in the current market. Listen to my recent podcast with Ballarat Business to find out more. Business Advisory As a business…

As part of the Coronavirus stimulus measures announced in March, the Australian government introduced a new instant asset write threshold of $150,000 increased from $30,000. This instant asset threshold applies to asset purchased from 12 March 2020 to 30 June 2020.  While the announcement was welcomed by most Australian business owners, purchasing new assets may…

It’s safe to say that most taxpayers enjoy a tax deduction, and the best tax deduction of all is paying concessional contributions into superannuation – this not only saves tax but it also helps to contribute to wealth in retirement. There are two simple ways of achieving a bigger deduction than usual relating to contribution:…

Now that the Job Keeper program has been going for over a month (we are into the fifth Job Keeper fortnight), the details have become much clearer. Our video update (below) answers many of the common questions. If you have any further questions please get in touch below.

There has never been a more important time to plan and minimise tax. Tax Planning has a bit of mystique around it. But what does it really mean? Tax Planning is the concept of understanding your current tax position, how much tax would be owing at the end of the financial year if we do…

This is one of the most common questions being asked right now. Bills are coming in, you have lost your job or have been put onto Job Keeper, so how are you supposed to get through this crisis period? Figures from the Australian Tax Office (ATO) suggest that almost 500,000 Australians dipped into their Superannuation…

No one would have guessed that we would be where we are today: people in isolation, businesses shutting down completely at the directive of our governments, social distancing from everyone except our closest loved ones. Our governments’ top officials are on our media daily enacting measures to keep our people and economy afloat, and it…