Due to COVID-19, many taxpayers have now started working from home either temporarily or some taxpayers have now made this as a permanent arrangement with their employers.

Directors may be personally liable for certain actions by the company including situations of insolvent trading and failure to meet employee (PAYG and superannuation guarantee), or GST obligations.

The government has announced on 14 August 2020 for the extension on the JobKeeper payments till 31 March 2021…

The 2020 financial year will be remembered as the year of uncertainty for all small businesses and individuals.

Cash flow is one of the key challenges and stress points for Australian small businesses…

As we are quickly approaching the end of financial year 30 June 2020, now is a good time to have a look at both your expected taxable income for the current financial year 2019-20 and your projected taxable income for 2020-2021 as they will help guide your tax planning strategy.

The Federal Government has unveiled its HomeBuilder scheme, which has been designed to help Australia’s Residential Construction Industry bounce back from the Corona Virus crisis.

If your SMSF has a related party loan and is impacted due to the financial effects of COVID-19, you may be able to provide your LRBA with relief under an agreed commercial arrangement.

Land tax relief, eviction freezes, and rental support are part of new measures to protect individuals, businesses and jobs during the COVID-19 crisis.

There are very limited circumstances when you can access your super earlier other than reaching a certain age and retiring.

The Queensland Government has once again upped its game to help its Business’ with the announcement of a new grant program.

Small businesses in Queensland can now apply for grants worth up to $10,000 to help soften the blow from COVID-19.

With the crisis escalating at an exponential rate, we do note and appreciate the elevated levels of concern in our community.

A business plan is often associated with new business, a document prepared during the start-up phase to assess the viability of a business or to support finance applications.

In light of the recent developments around the Coronavirus (or COVID-19) and the uncertainty we are all facing at this time, we felt it important to advise you to assure you that we expect no major interruptions to the services that we provide to you.

Morrison government unveiled $23 billion stimulus package during the COVID – 19 crises in the hope to avoid Australian economy sliding into recession.

You may be wondering why you need a plan in the first place. After all, you have a clear idea in your mind about what you want to achieve.

Some good reasons to have a business plan are…

If you are a medium-sized business (i.e. have a turnover between $10M and $50M) or a small business, you are entitled to take advantage of the $30,000 instant asset write-off for the 2020 financial year.

Although death is generally not a taxing event, whenever assets move from one person to another, there may be potential income tax, capital gains tax (CGT) and stamp duty implications.

The time to make a decision regarding who the trustee of your SMSF should be is…

Whilst Director Penalty Notices (DPN) have been around for some time, protecting employees by ensuring the payments due to be remitted on their behalf are made, recent legislation changes have extended the DPN regime to include unpaid GST.