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Secure Your Business Future: Setting Up Successor Directors for Your Company
Running a successful company involves planning for the future. It’s not just in terms of growth, but also in terms of continuity. Many Australian business owners focus on day-to-day operations, tax planning, or expansion strategies, yet overlook one critical aspect: what happens to the company if they are no longer able to run it? If you die… Continue reading Secure Your Business Future: Setting Up Successor Directors for Your Company
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Avoiding Common Payroll Mistakes in SMEs: A Guide for Australian Businesses
Payroll management is a vital but complex task for Australian small and medium-sized enterprises. Errors in payroll can cause costly financial penalties, legal issues, and damage employee trust. As payroll laws and compliance requirements continually evolve, SMEs must be proactive in managing these risks. Here is a guide to key payroll mistakes Australian SMEs commonly… Continue reading Avoiding Common Payroll Mistakes in SMEs: A Guide for Australian Businesses
Learn moreNDIS Accountant and Accounting Services in Australia
The National Disability Insurance Scheme (NDIS) has transformed how Australians with disability access support, but it also brings significant financial complexity. As of mid-2024, the scheme supports over 661,000 NDIS participants, with annual spending of around $41.8 billion. Participants must manage budgets across multiple funding categories, while NDIS providers face a heavy administrative load, including… Continue reading NDIS Accountant and Accounting Services in Australia
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New TASA Code of Professional Conduct 2025 | What It Means for You
We would like to bring to your attention the changes to the Tax Agent Services Act (TASA) Code of Professional Conduct, effective from July 2025. These updates place additional obligations on tax and agents and have practical implications for how we work with you. What’s Changing? The TASA Code has been revised to strengthen professional standards and… Continue reading New TASA Code of Professional Conduct 2025 | What It Means for You
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Year End Tax Tips – June 2025
How to reduce your bill We are getting near the end of the tax year (30 June), so you might want to consider ways to reduce your business’ tax bill. The two simplest ways to do this are to reduce assessable income or increase deductible expenditure. Either way, the business’ taxable income (and thus the… Continue reading Year End Tax Tips – June 2025
Learn moreBusiness News – Special Federal Budget 2025-26 Edition
Budget Overview On Tuesday 25 March 2025, the Treasurer, the Hon Dr Jim Chalmers MP, delivered the Federal Budget 2025–26 (Budget), his fourth budget. The media consensus seems to be that it is a relatively low-key budget on the eve of the election (which will be held on Saturday 3 May 2025) with, unsurprisingly, few… Continue reading Business News – Special Federal Budget 2025-26 Edition
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Business News – February 2025
TaxWise What’s Been Happening in the Parliament? Instant Asset Write-Off – Small Business Small businesses that use the simplified depreciation rules can immediately write off the full cost of a depreciating asset used in the business, provided the cost is below the relevant threshold. This measure is known as the instant asset write-off (IAWO). The… Continue reading Business News – February 2025
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Year End Planning Tips for Australian Taxpayers – A Comprehensive Guide
As the financial year draws to a close, it’s the perfect time to take control of your finances. Year-end planning goes beyond tax preparation—it’s about ensuring your overall financial well-being. Whether you’re an individual or a business owner, taking proactive steps now can set you up for success in the coming year. Why Year-End Planning… Continue reading Year End Planning Tips for Australian Taxpayers – A Comprehensive Guide
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Business News – November 2024
TaxWise What’s New? Depreciation for Small Businesses The Bill proposing to extend the $20,000 threshold for the small business instant asset write-off (IAWO) until 30 June 2025 is currently before the Senate. To be eligible for the IAWO, the business must have an aggregated annual turnover of less than $10 million, the asset must cost… Continue reading Business News – November 2024
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Individual News – September 2024
TaxWise What’s New? Income Tax Rates As we have previously mentioned in TaxWise, tax cuts for every taxpayer came into effect on 1 July 2024. To remind you, the new personal income tax rates are set out in the table below. Taxable income Tax payable $0 – $18,200 Nil $18,201 – $45,000 Nil + 16%… Continue reading Individual News – September 2024
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Business News – September 2024
TaxWise What’s New? Tax changes from 1 July 2024 A number of income tax measures relevant to businesses apply from 1 July 2024, including: Tip! If you think any of these measures may affect your business, talk to your tax adviser. Income Tax Rates As we have previously mentioned in TaxWise, tax cuts for every… Continue reading Business News – September 2024
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Business News – June 2024
TaxWise Year End Tax Tips How to Reduce Your Tax Bill We are getting near the end of the tax year (30 June), so you might want to consider ways to reduce your business’ tax bill. The two simplest ways to do this are to reduce assessable income or increase deductible expenditure. Either way, the… Continue reading Business News – June 2024
Learn moreRecent Blogs
Secure Your Business Future: Setting Up Successor Directors for Your Company
Running a successful company involves planning for the future. It’s not just in terms of growth, but also in terms of continuity. Many Australian business owners focus on day-to-day operations, tax planning, or expansion strategies, yet overlook one critical aspect: what happens to the company if they are no longer able to run it? If you die… Continue reading Secure Your Business Future: Setting Up Successor Directors for Your Company
Avoiding Common Payroll Mistakes in SMEs: A Guide for Australian Businesses
Payroll management is a vital but complex task for Australian small and medium-sized enterprises. Errors in payroll can cause costly financial penalties, legal issues, and damage employee trust. As payroll laws and compliance requirements continually evolve, SMEs must be proactive in managing these risks. Here is a guide to key payroll mistakes Australian SMEs commonly… Continue reading Avoiding Common Payroll Mistakes in SMEs: A Guide for Australian Businesses
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