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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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Tax Deductions for Office Workers

Tax Deductions for Office Workers

All employees are able to claim deductions for work related expenses. However, the reality for many office workers is that either there aren’t any expenses related to their work or their employer covers the cost of these expense. The key elements for claiming work...

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Fringe Benefits Tax (FBT) – Are you ready?

Fringe Benefits Tax (FBT) – Are you ready?

Yes, it is that time of year again… time to refresh ourselves on the topic of Fringe Benefits Tax (“FBT”)… and prepare for the upcoming tax compliance season! With the new FBT year starting on 1 April, now is the time to consider opportunities to effectively structure...

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