During the outbreak of COVID-19 in early 2020, many businesses had suffered their greatest economic shock of all time. The economy worldwide has taken an unexpected turn and business owners have been facing extreme challenges, including managing their cash flow….
Elinor Kasapidis, senior manager of tax policy at CPA Australia and Andrew Watson, a member of the Australian Taxation Office’s (ATO) small-business division stated that digital records of receipts can immensely reduce pressure and tax calculation times. Mr Watson added that…
Check out our Cash Flow Management Tips: Focus On the Cash Flow Adjust your business accounts and create a report to observe the incoming and outgoing money. A cash flow report will help you monitor your money flow and you…
What is transfer pricing? Transfer pricing is a method used by multinational groups to shift earnings out of the international locations in which they function and into tax havens that include a multinational selling itself items and offerings at an artificially…
Every year Commonwealth agencies pay a huge amount of money in government payments program allocated for delivering services. These services are provided to the people of Australia under the Commonwealth programs such as disability support, child care, aged care, etc….
It is declared that super choice rules will be changed by the Australian Taxation Office. You are requested to remember that if you have any new employees who have not chosen a super fund. From 1st November 2021, on the…
Outdated business systems can cost millions from what has been seen in a recent study by Forrester. As most people carry out their business on-premises in Australia, the benefit of modern technologies and solutions are missed out. The study finds…
We know times are tough, and we all may need a little bit of extra help. In this global pandemic the NSW Government and the Australian Government will provide financial assistance and support if you have been impacted by COVID-19…
You might provide your employees with benefits other than their salary or wages in your business. Non-cash benefits provided to employees or associates of employees are fringe benefits. This is different to when you pay money to your employees. Where…
As we approach the end of the tax year, it is important to become adjusted with any new taxation changes coming about from various factors, especially COVID19. This will help to maximise your tax efficiency for the outgoing tax year…