Post Type: Video
- Protect Your Finances: Avoid Banking ScamsIn this short video, Glenn reminds you to protect yourself from phishing scams targeting your banking details. Scammers are sending fraudulent emails with links to “reset passwords” or “update details,” aiming to steal your identity or access your bank account. Remember, legitimate banks never ask for sensitive information via email links. To stay safe, never…
- Sharpen Your Numbers – FAQ: How do I maximise unused superannuation concessional contributions from 2018?In this video, Glenn shares how you can maximise unused concessional superannuation contributions from the past five years, provided your super balance is under $500,000. Watch to understand the strategy and steps to optimise your contributions efficiently.
- Beware of Business Name Renewal Scams!In this short video Ewen shares a crucial warning for business owners about misleading business name renewal notices. Many companies are pretending to be the government and sending out renewal notices months in advance, with exorbitant fees attached. Learn how to identify genuine notices from ASIC and avoid falling victim to these scams. If you’re…
- Important Tax Tips for Primary Producers Post Instant Asset Write-OffAttention primary producers! With the instant asset write-off now finished, managing your equipment trades and avoiding unexpected tax bills is crucial. As livestock prices fluctuate and climatic conditions impact your farm, here are some tips to minimise your tax: Water Conveyancing/Conservation:Expenses for pumps, piping, and irrigation are fully deductible. Fencing:Internal and external fencing qualifies for…
- New Property Tax Changes for Commercial and Industrial Properties in VictoriaStarting 1st July 2024, the Victorian government has introduced a new 1% property tax on land value. This change impacts how stamp duty applies to these properties. Existing owners are exempt until the property sells, triggering a 10-year countdown for the new tax. In this short video, Ewen shares some of the changes and how…
- Sharpen Your Numbers – FAQ: What is the Instant Asset Write-off for the 2024 year?In this video, Ewen confirms the instant asset write-off has reverted to $1,000 per asset. However, there’s draft legislation in progress to raise this to $20,000, with recent proposals suggesting an increase to $30,000. Stay tuned for updates, and we’ll keep you informed as things develop. If you have any questions for Glenn or Ewen…
- Payroll Tax Changes for Victorian BusinessesIn this short video, Ewen shares what you need to know about the 2024-2025 Victoria state budget, including the significant payroll tax changes starting 1 July 2024. The payroll tax threshold will rise from $700,000 to $900,000, potentially exempting many businesses. By 1 July 2025, this threshold will further increase to $1 million. However, businesses…
- Sharpen Your Numbers – FAQ: What is the economic outlook for the short and medium term?Bill from Ballarat asked us what the economic outlook for the next 6 to 12 months looks like. Glenn shares what’s ahead in this short video. Interest rates are expected to stabilise, and potential cuts may follow if the economy rebounds. However, government forecasts suggest a rise in unemployment, making for a challenging market.
- Budget Update: A Small Business PerspectiveGlenn shares his thoughts about the recently disappointing news for small businesses in the recent federal budget release. The proposed increase in the instant asset write-off to $30,000 has been stalled, likely settling at $20,000. With rising prices, this isn’t ideal. Additionally, the $300 Power rebate and trimmed tax cuts offer little excitement. Watch the…
- Sharpen Your Numbers – FAQ: Why do the ATO want multiple payments for BAS, tax, PAYG; why can’t I just pay one payment?Our latest frequently asked question is from Gavin: “Why does the ATO want multiple payments for BAS, tax, and PAYG? Why can’t I just make one payment?” In this video, Glenn shares why the ATO requires multiple payments for BAS, tax, and PAYG instalments. From withholding employee wages to GST and income tax, each payment…
- Sharpen Your Numbers – FAQ: Can I or should I, put money into my superannuation and claim a tax deduction?Sarah asks about claiming a tax deduction for contributing to her superannuation fund. In our latest FAQ video, Glenn explains the options: salary sacrificing, where the employer contributes pre-tax dollars, or making deductible contributions from after-tax salary. Both offer tax benefits, with differences in timing. Seek advice tailored to your situation for the best approach.…
- Sharpen Your Numbers – FAQ: When should I set up a self managed super fund?Steve from Buninyong asked about setting up an SMSF, a question we’re hearing a lot lately. He wants to know when to set up an SMSF, how much is needed, and what investments are possible. While it’s a complex topic, SMSFs offer flexibility, allowing investments in shares, property, even exotic assets like diamonds or artwork.…