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The Federal Treasurer, the Hon. Josh Frydenberg MP, has delivered the 2022 Federal Budget. We’re pleased to provide you with our 2022/23 Federal Budget Summary. Personal income tax changes Increase to low and middle income tax offset (‘LMITO’) The Government has announced a once-off $420 ‘cost of living tax offset’ for the 2022 income year,...

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All directors of a company, registered Australian body, registered foreign company or Aboriginal and Torres Strait Islander corporation will need a director identification number (director ID). About director ID A director identification number (director ID) is a unique identifier you need to apply for once and will keep forever. It will help prevent the use...

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With yet another financial year about to end, it’s time to start getting everything in order for the 2021 End-of-Financial-Year. It’s easy to push your EOFY tax planning aside, especially when our focus is still on COVID, but you don’t want to miss the opportunities that EOFY tax planning can present. There’s still plenty of time...

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On Tuesday night (May 11th 2021) the Federal Treasurer, the Hon. Josh Frydenberg MP, delivered the 2021 Federal Budget. We have now reviewed all aspects of the Budget and our analysis summarises what it may mean for you and/or your business and superannuation fund. On the personal taxation front, the proposed changes include an extension...

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If you are a sole trader, the owner of a small business or a not-for-profit organisation in NSW, you may be eligible for a small business fees and charges rebate of $1500. This rebate helps businesses recover from the impacts of COVID-19 and encourages growth by reducing the cost of running a business.  Eligible businesses or not-for-profits only need to apply for the rebate once but can submit multiple claims until the full value of $1500 is reached. Funds...

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The JobMaker Hiring Credit scheme is an incentive for businesses to employ additional young job seekers aged 16 to 35 years. Eligible employers can access the JobMaker Hiring Credit for each eligible additional employee they hire between 7 October 2020 and 6 October 2021.  Eligible employers key points for consideration: will be able to register with us from...

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