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The 2021 Federal Budget Changes & What It Means for You

Hey guys, We hope you’ve had a great week so far. Today we would like to chat to you about the 2021 Federal Budget, and what it means for you. To help create jobs, business investment and confidence after COVID-19, the Federal Government has just released a big spending 2021-22 Federal Budget! Based on our…

Working from home business expenses including setting up your home office

Claiming “Working from Home” Expenses at Tax Time (2020-21)

Lately, we have been asked many questions relating to COVID-19 and how it will impact claimable deductions in the 2020-2021 Tax Year. The reality is that there are going to be some significant changes. Especially given many of you have incurred additional working from home expenses, that you wouldn’t typically experience in your normal working…

Capital Gains Tax Checklist: Property Sale

NEW Capital Gains Tax Checklist & Let’s Welcome Bill to the Team!

Happy Wednesday! We hope that you’ve had a good week so far. In this article, we will be announcing the arrival of our new Capital Gains Tax Checklist and the addition of a new team member, Bill Bennett. 1) *NEW* Capital Gains Tax Checklist Are you selling your property for the first time? We…

What is the Business Costs Assistance Program?

Are You Eligible for the Business Costs Assistance Program (BCAP)? Apply here.

COVID-19 assistance to small businesses Was your business significantly impacted by the latest circuit breaker” lockdown” (12th-17th of February)? If so, no need to despair. The Victorian Government has recently released a new Business Costs Assistance Program to help those who experienced significant losses due to the sudden lockdown. In this article, we’ll share the key…

Your 2019/20 Income Tax Return – May Deadline Approaching

Hey Everyone! We hope that you and your family are staying safe and well. Today, we wanted to share a reminder that all 2019/2020 Individual Tax Returns are due to be submitted & lodged by the 15th of May, 2021. If you are late lodging your tax return, the ATO can impose penalties and…

Starting a Business - Types of Business Structures

Types of Business Structures in Australia

When starting a business, you will need to decide which type of business structure is best for your business. During this process, you should consider your personal circumstances and who will be the key operator of the business. Making the right decision from the onset is critical because the business structure you choose can impact:…

What is the JobMaker Hiring Credit?

On 6 October 2020 as part of the 2020–21 Budget, the Government announced the $74 billion JobMaker Plan. Of this amount, they have set aside $4 billion dollars for a JobMaker Hiring Credit and an additional $1.2 billion for the Boosting Apprenticeships Wage Subsidy to support new apprentices and trainees. They hope that these incentives will help to…

No, you don’t need to lodge your tax by Oct 31

Hey Everyone, Recently, we’ve been receiving a lot of calls from clients worried and stressed, thinking that they must lodge their tax by the end of this month; the 31st of October. We wanted to send out a notification to reassure you that this isn’t the case. The Oct 31st deadline is only for those…

The 2020/21 Federal Budget & what it means for you

Happy Wednesday, Today we wanted to help explain the latest changes to the Government’s 2020/21 Federal Budget. There’s been a lot of confusion around the budget and yes, trying to get your head around all the changes yourself can be overwhelming. Although a bit dry, stay with us as we do our best to explain the…

Jobkeeper 2.0 | An overview of eligibility & payments

Hey everyone, Today, we wanted to run you through a summary of the changes that will be rolling out for Jobkeeper 2.0. As you may be aware, the Government recently announced that the Jobkeeper Payment would be extended by a further six months to 28 March 2021. With the additional criteria, they hope to provide…