ATO Audit Focus for 2021

Wok Related Expenses Generally speaking, there are three rules for Australians looking to claim work-related expenses on their tax return: You must have spent the money, and not been reimbursed for the expense The expense must be directly related to you earning your...

Fair Work Commission Annual Wage Review

The annual wage review for 2020/2021 by the Fair Work Commission has been released. National Minimum Wage is increasing by 2.5% to $20.33 per hour from 1 July 2021 up from $19.84 per hour, and modern award rates will also increase by 2.5% though as with the previous...

Market Valuations – Property SMSF

In order to reflect accurate member balances for the year ended 30 June 2021, SMSF that hold property need to obtain a market valuation.  Generally an external valuation of real property is not required each year.  However, a recent valuation would be deemed necessary...

QLD Small Business Grants Schedule

The QLD government has recently announced a new Small Business – Business Boost Grant worth up to $15,000 Further details and eligibility criteria is expected to be released in mid-July 2021 with applications opening in late July 2021. For further information on this...