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The Revised Work Safe Workplace Manslaughter Policy | Are You at Risk?

Today, we’re going to be touching on a more serious topic: Workplace Manslaughter Yep! It’s not the prettiest of topics, but it’s something all business owners should be aware of when running a business. Especially in the industry of trades, hospitality, etc. Given Parliament recently passed a bill relating to the Workplace Safety Legislation amendments…

Dual Cab Utes & Keeping Logbooks – Do You Need One?

The simple answer – Yes! If ever in doubt on whether you should or shouldn’t have a logbook, our recommendation is always to have one. After all, it’s better to be safe, than sorry! The Australian Tax Office (ATO) have recently warned about tightening-up on their approach towards people who own vehicles through their businesses –…

Starting a Business - Types of Business Strcutures

Types of Business Structures in Australia

When starting a business, you will need to decide which of the 4 business structures is best for your business. Some things you may like to consider as part of this decision includes your personal circumstances and who will be the key operator of the business Making the right decision from the onset is critical…

Merry Christmas From the Team & Closure Dates!!

Can you believe that Christmas is just around the corner…again!? It feels like it was yesterday that I was rushing around the shops, multiple bags in hand and scurrying through the crowds to get all my Christmas shopping done before last year’s big day! As we prepare for this year’s Christmas, we wanted to take…

How to Start a Business: Tips for Beginner Entrepreneurs

Whether you plan to start a business from scratch or grow your existing business, the process can be challenging. As the owner of a start-up small business, you will find yourself pulled in many directions. Many entrepreneurs feel overwhelmed when juggling tasks such as: Creating a business plan Managing your cash flow Settling outstanding payments…

Single Touch Payroll Reporting – Closely Held Companies

Hey everyone, Following a recent email sent by the ATO on Single Touch Payroll, we felt it important to share the following info with you too. The ATO recently sent an email blast to owners of closely held companies stating that they had missed the Single Touch Payroll (STP) start date. However, this was incorrect…

How to Claim a Tax Deduction for Personal Super Contributions

This financial year, the ATO have been cracking down on personal super contribution claims because they are wanting to ensure that everyone is following the rules. For some, submitting a Notice of Intent before lodging your tax return seems to be a new process, however, it has been around for a while. The reason you may only…

ATO Crackdown! | Are You Declaring Foreign Income in Your Tax Return?

Have you been earning money overseas or have an overseas bank account that you deposit money into? Do you have assets or investments overseas? Have you been a bit naughty by “accidentally” omitting this income from your tax return? If so, this article applies to you. What is Foreign Income? In simple terms, foreign…

What is the New $1080 low and middle income tax offset?

During the 2019–20 Federal Budget the Government announced its desire to change the policy regarding Personal Income Tax. Recently, it was announced that these changes have been passed through and are law as a new income tax offset. So, what will this mean for you? And what is a tax offset in the first place?…

Claiming Work-Related Expenses | Part 3 – Other Popular Deductions

Hello everyone & Happy Monday! Continuing our series on work-related expenses, this week we wanted to talk about a couple of other popular items people try to claim in their tax returns. These include work-related travel, clothing, phone & internet, education and “working from home” expenses. If you have not read our first 2 articles…