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Accounting
Update – ATO Electronic Correspondence and Communication Preferences
November 19th, 2021You may have caught our article a few months ago regarding the moves the Australian Taxation Office (ATO) is making in shifting their correspondence to business owners from paper-based “snail mail” to electronic formats. As the roll-out and wider adoption of these changes continues, we are seeing a few instances where information isn’t reaching theread more
Annual Wage Review – Final Stage
November 3rd, 2021Earlier this year, we covered the 2.5% increase to the national minimum wage and all award wages (see the article here). The changes have been rolled out in three stages, and we’re already at the third! The increases announced as a result of the Annual Wage Review first came into effect on 1 July, withread more
Director ID – What All Businesses Need to Know
October 20th, 2021As you may have heard, there are a number of changes being brought in by the Australian Government’s “Digital Business Plan” to combat fraud and security issues in businesses, measures which have brought about some obligations that require attention. Known as the “Modernising Business Registers” program, the Australian Business Registry Services (ABRS) is being established,read more
Small Business Lockdown Assistance Grants – A Quick Guide
July 23rd, 2021Lockdowns and restrictions brought in as a result of COVID-19 outbreaks have had a significant impact on small businesses, their owners, and their staff. In an attempt to ease some of the financial hardship caused by the most recent WA lockdown and interim restrictions (12.01am Tuesday 29 June 2021 – 12.01am Tuesday 6 July 2021),read more
Cryptocurrency – Thinking Outside the Blockchain
June 18th, 2021Blockchain technology is by no means a new concept, but its recent explosion in the mainstream consciousness (particularly around DeFi, NFTs and the price of Bitcoin) makes it worthy of further consideration – especially from a cryptocurrency tax and compliance point of view. The scope of blockchain-based activity is incredibly complex – it’s not asread more
The ATO’s Shift to Electronic Correspondence – What You Need to Know
May 5th, 2021The Australian Taxation Office (ATO) is working to move the majority of their communications with business owners from paper-based and traditional mail to electronic correspondence. While the changes are welcome from an environmental and efficiency point of view, it does require some preparation and an increased level of attention on things such as MyGov andread more
6 Key Metrics to Understand Your Business’ Financial Position
January 28th, 2021As is the case in every aspect of business, the financial side of any enterprise contains a lot of moving parts and requires not only a great deal of understanding, but a significant portion of your attention as well. While the day-to-day workload can get in the way of analysing your business’ financial position, thereread more
Taking a Closer Look at the JobMaker Scheme
November 20th, 2020The JobMaker scheme was announced in the 2020/21 Federal Budget and follows on from a raft of changes and schemes brought in by the federal Government to reduce the impact COVID-19 has had on the Australian economy – particularly on employment. While we covered it briefly in our Federal Budget Update, now that some timeread more
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