Small Business in The Age of Covid-19
Small businesses are crucial to sustaining a healthy economy as they employ almost half of all Australians currently in the workforce. The covid-19 pandemic has caused huge disruption to the way small businesses operate. After being forced to close overnight in March 2020 and then re-open to limited capacity two months later restaurants, gyms and […]
Why Now Is the Best Time to Change Accountants
It is important to hire an accountant that adds value to your business by helping you realise your tax benefits and supports you with difficult matters related to auditing, tax and payroll among other accounting services. It is also beneficial to have an accountant that delivers considerable savings regarding the day to day operation of […]
Tax Deduction Claims For Education & Training Could Soon Be Widened
Australian taxpayers might soon be able to claim deductions for training and education programs unrelated to their chosen area of profession. Changes surrounding FBT exemptions for retraining and reskilling included in the recent federal budget have been implemented to encourage Australian workers to upgrade their skillset to make themselves more desirable to employers for a […]
Tax Deductions for Self-Education Expenses
Australian workers are currently able to claim tax deductions on self-education expenses when the education activities are directly connected to the income arising from their current employment activities. To be tax deductable the self-education must also maintain or improve the specific skills or knowledge that is required in your current work activities. Furthermore, the self-education […]
Business Advice for Practitioners in The Cosmetic Injection Industry
The cosmetic injection industry enjoyed a significant growth in 2020 and is a sector that has continued to thrive throughout the covid-19 pandemic despite many other industries struggling to make a profit. Botox and dermal fillers are leading the way in an ever-expanding cosmetic market, that defies the weaker economic conditions. We expect that whilst […]
The New “Simplified Liquidation Process” Introduced On 1st January 2021
A new Simplified Liquidation process was one of the key components of the Federal Governments recent changes made to Australia’s corporate insolvency framework. The changes were introduced on 1st January 2021, the Simplified Liquidation process aims to be a streamlined Creditors Voluntary Liquidation (“CVL”) for companies that are insolvent and have liabilities of less than […]
The 80¢ Per Hour Work-From-Home Deduction Method Has Been Extended Until 30th June 2021
A significant number of Australian business owners and employees are working from home as a result of the covid-19 pandemic. A direct consequence of working from home is that additional expenses are accumulated by workers in relation to their income-producing activities. These additional expenses include more money spent on lighting, heating, clean and cooling. Working […]
JobMaker: Hiring Young Australians In The Age Of Covid-19
There are almost 360,000 fewer jobs in Australia when compared to the number of jobs that existed 12 months ago. Currently over 900,000 Australians are still looking for work. Over 1.5 million Australians are still on JobSeeker and the majority of these people are under the age of 35. The Australian Government has introduced a […]
Planning Your Business for The Digital World: How to Use Social Media to Communicate with Customers
Social media is a powerful tool that enables businesses to create more meaningful relationships with their customers. Different social media platforms are more or less popular with different age groups. It is therefore crucial for a business to build a strong presence on the social media platform that is most popular with their intended target […]
An Overview of the Small Business Insolvency Reforms Introduced on 1st January 2021
On 1st January 2021 the Australian federal government’s small business insolvency reforms came into effect thus replacing the temporary insolvency protections which were introduced on 25th March 2020 during the peak of the covid-19 pandemic. The reforms in the Corporations Amendment (Corporate Insolvency Reforms) Bill 2020 were passed through federal parliament on Friday 11th […]
