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Update your ABN … or miss out! Government agencies regularly access data contained in the ABN registration, and where this is not up-to-date the taxpayer may be missing out on stimulus measures, grants, and other government support. This became painfully evident during the 2019-20 bushfires, and is now re-surfacing during COVID-19 when it was found that a […]

JobMaker hiring credit: What you need to know The JobMaker Hiring Credit scheme was passed into law in mid- November 2020. JobMaker was part of the 2020-21 Federal Budget, and will operate until 6 October 2021. It is designed to improve the prospects of young individuals getting employment, by incentivising employers to hire them, following the devastating[…]

A run-down of the new loss carry back measure The last Federal Budget carried with it a number of tax changes that were designed to assist the Australian economy recover from the impact of the COVID-19 pandemic. Among the changes announced was the temporary re-introduction of the loss carry back rules for corporate tax entities (it was[…]

What the “full expensing” write-off deduction means for business The Federal Budget measure of allowing businesses to fully write-off eligible assets is a boon to Australian businesses, even though the measure is temporary. Just to recap, businesses with aggregated annual turnover of less than $5 billion will be able to deduct the full cost of eligible capital[…]

The 2020 Budget has delivered immediate income tax deductions to businesses  for investment in capital assets.

The ATO has not yet released details of the alternative tests that will be used in determining whether certain entities can pass the new turnover reduction tests

If you are selling your business, merging, acquiring, or inviting in new investors, you need to understand the value of your business.

The updated JobKeeper Rules dealing with eligible employees which apply from 3 August 2020 onwards.

So, you’ve built your business and are ready to open it up for investors or partners. The problem is, you don’t know how to write a winning business plan for investors. Don’t worry. We’re here to help. Here are some tips to help you get started with your business plan 1. Get to Know Your Audience It’s[…]