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Employee or Independent Contractor?

Employee or Independent Contractor?

Differentiating between an employee and an independent contractor is an evolving and complex area of law. Significant penalties and charges may apply if the nature of a worker’s relationship is wrongly classified. This level of uncertainty and complexity is not ideal....

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Loans and Payments by Private Companies

Loans and Payments by Private Companies

Did you know that failure to keep private expenses separate from company expenses may inadvertently give rise to a Division 7A dividend?  With year-end fast approaching, we thought it timely to briefly discuss this topic, as well as how to manage any risks! What is...

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Tax Planning

Tax Planning

In this blog, we take a closer look at why all businesses should have a tax planning session with their accountant every year. What is Tax Planning? Tax planning can have some great benefits for any business, large or small. It involves evaluating the business’s...

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eInvoicing

eInvoicing

Electronic Invoicing (eInvoicing) Electronic invoicing (eInvoicing) is an Australian government initiative designed to make exchanging invoices and doing business more efficient.  It is an important step in the digitisation of businesses across the nation, making the...

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Director Identification Numbers

Director Identification Numbers

Director Identification Number (Director ID) A director identification number (Director ID) is a mandatory requirement for all company directors.  From 5 April 2022, a first-time director will need to apply for a Director ID before their official appointment (that is,...

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Single Touch Payroll (STP)

Single Touch Payroll (STP)

Single Touch Payroll (“STP”) Single Touch Payroll (“STP”) is a reporting framework that streamlines employers’ reporting obligations to the Australian Taxation Office (“ATO”) and other government agencies.  In this blog, we take a closer look at this mandatory...

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2021 Victorian COVID Support

2021 Victorian COVID Support

The Victorian Government has announced a $400 million package, jointly funded by the Commonwealth Government, that will provide automatic payments to almost 100,000 eligible businesses in Victoria, including sole traders.  Further hardship funds will be made available...

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2021 NSW COVID Support Package

2021 NSW COVID Support Package

The purpose of this blog post is to provide you with a basic understanding of the current NSW 2021 COVID-19 support package as well as to assist you in determining your eligibility for financial support. We note that the rules have been moving so this is a guide only....

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Individual Deductions – Car Expenses

Individual Deductions – Car Expenses

Individual taxpayers using their own car (including a car that is leased or hired) to perform work-related duties, as an “employee”, may be able to claim a deduction in their annual income tax return for Car Expenses. In this blog, we take a closer look at the rules...

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