Your 2021 Business End of Financial Year Reminders & Action Items
July 8, 2021Read moreATO PAYMENT DEFERRALS We can liaise with the ATO and negotiate a deferral or repayment plan if you are having trouble paying any ATO liabilities. Please contact us immediately if you would like our assistance with this. SINGLE TOUCH PAYROLL If you are reporting payments to employees to the...
0ATO Audit Focus for 2021
July 8, 2021Read moreWok 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 income (i.e. it cannot be a...
Fair Work Commission Annual Wage Review
July 8, 2021Read moreThe 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 year,...
Market Valuations – Property SMSF
July 8, 2021Read moreIn 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 if you expect the valuation...
End of Financial Year Mental Health Tips for Business Owners
July 8, 2021Read moreHappy New (Financial) Year As we enter a new financial year it is a great time for business planning and reflecting on the year that has been. With the whirlwind of 2020-2021 and all the changes that Covid-19 has brought, it is important to also take some time to...