Business Tips: Getting Ready for Year End Some things to consider before 30 June 2021 if you run a business… YEAR-END STOCKTAKE / WORK IN PROGRESS If applicable, you need to prepare a detailed Stock Take and/or Work in Progress listing as at 30 June 2021. Review your...
The Balancing Act Budget 2021-22 The 2021-22 Federal Budget is a balancing act between a better than anticipated deficit ($106 bn), an impending election, and the need to invest in the long term. It is also a human budget (cynics would say voter focussed), with $17.7...
2021 Budget Summary Tax-related measures announced included: Personal tax rates – no changes were made to personal tax rates. The Stage 3 personal income tax cuts remain unchanged and will commence in 2024-25 as already legislated. LMITO retained for 2021-22...
COVID-19 and working from home benefits This information is to assist understanding your FBT obligations where employees are provided with benefits to support working from home arrangements during the COVID-19 pandemic. Key points Your fringe benefits tax (FBT)...
Want to save money on your business energy bills? Do you have trouble understanding the ins and outs of your energy bills? Are you getting the best deal from your provider? Should you put a low-cost energy solution in place or invest in something bigger? The Business...
80¢ per hour work-from-home deduction method extended Taxpayers continuing to work from home in the new year will be allowed to continue using the simplified working-from-home deduction method following a third extension by the ATO. The 80¢ per hour shortcut method,...