Am I taxed on an insurance payout?

Am I taxed on an insurance payout?

Australia has had its fair share of disasters over the last few years – drought, bushfires and floods – that have ramped up the volume of insurance claims. Most people would assume that if and when they need to claim on their insurance, the insurance payout covers the...
Work from home expenses under scrutiny

Work from home expenses under scrutiny

(and the perils of browsing Facebook)If you worked from home during lockdown and spent money on work related items that were not reimbursed by your business, you might be able to claim some of these expenses as a deduction – but not everything you purchase can be...
ATO: What’s changing on 1 July 2021?

ATO: What’s changing on 1 July 2021?

There are a few important changes coming up on 1 July 2021. These are important to note especially going into end of year tax planning. 1. Super guarantee rate increase to 10% On 1 July 2021, the Superannuation Guarantee (SG) rate will rise from 9.5% to 10% –...
UK Budget 2021 at a Glance

UK Budget 2021 at a Glance

Rishi Sunak has delivered his budget for 2021 flagging tax rises as total Covid spending tops GBP400BN. The chancellor says the economy will recover more quickly from the pandemic than previously thought, with the economy returning to its pre-pandemic state by the...
3 Steps to Survive a Cash Flow Crisis

3 Steps to Survive a Cash Flow Crisis

2020 has been a challenging year for small business owners in Australia and the UK. It’s important to mark your successes while recovering from the hard work that got you and your team through this difficult year.However, there’s another problem looming on the...
How to Manage Cash Flow in Your Small Business

How to Manage Cash Flow in Your Small Business

A strong cash flow is essential to a healthy, thriving business. Smart, small businesses will follow various strategies to monitor and increase all money. As a small business, what can you do to better manage your cash flow? When looking at your finances, how can you...
Federal Budget 2020 Snapshot

Federal Budget 2020 Snapshot

The government handed down a budget earlier this week specifically designed to pull Australia out of the Covid19-led recession. According to Treasurer Josh Frydenberg. “The global economic environment remains uncertain with the impact of this crisis to be felt for...
Business Survival and Adaptation Package

Business Survival and Adaptation Package

Support for Covid-restricted businesses in VictoriaThe Victorian Government is investing $3 billion to help businesses impacted by ongoing restrictions and prepare for COVID Normal business.$3 billion in cash grants, tax relief and cashflow support will be delivered...
JobKeeper 2.0 – Passes Parliament!

JobKeeper 2.0 – Passes Parliament!

JobKeeper 2.0 legislation (worth about $32 billion) has now passed both houses of Parliament, and is now law (subject to the formality of Royal Assent). This legislation extends the government’s wage subsidy program by six months to 28 March 2021 and ensures those not...
Top 10 FAQ by Companies Filing Tax Returns for the First Time

Top 10 FAQ by Companies Filing Tax Returns for the First Time

Starting your business and running a company can be daunting, especially when you have limited accounting experience. However, armed with some basic knowledge and by employing the services of a user-friendly accountant, running your business and paying taxes can be a breeze. An accountant is a powerful ally, and can help you navigate the financial minefield, including the dreaded Australian Tax office (ATO)!