2022 Federal Budget and PDF download of what’s in it for you and your family.
Clayton
Managing Director, Business Edge Advisors
Clayton Wood
Clayton has run Business Edge Advisors since 2013. The practice has been on the border since 1988, and he took it over with the same idea it started with: a business owner should be able to ring their accountant and get a straight answer.
Most of his week goes on trade and small business owners around Albury and Wodonga, working through the things that actually decide whether a year went well. What structure to be in, what to do before 30 June, and whether the numbers on the screen mean what the owner thinks they mean. He writes here about the questions that come up most often, in the same words he would use across the desk.
Registered Tax Agent 20651000. Level 1, 561 Olive Street, Albury NSW 2640.
What he writes about
- Tax, which is mostly what you can claim, what gets knocked back, and what changed this year.
- Xero and bookkeeping, for owners who would rather the software did the work.
- Business planning, being the part that happens before the numbers are already bad.
- Individual returns, because a lot of business clients started as a personal return.
Changes from 1 July 2021 will impact on how much money you can contribute to superannuation and how much you can have in your retirement phase superannuation account. In general, your superannuation is either in an accumulation account (when you are building your super), a retirement account (when you meet preservation age and certain conditions … Read more
National licence recognition for tradies Builders, electricians, plumbers, architects, real estate agents, security guards and other workers who hold an occupational licence in their home state or territory and who want to do the same work in another state or territory will soon be automatically deemed to have the necessary licence. The Federal, State and … Read more
Where to Start? Start at the beginning and focus on yourself first. Yes, that is right, your business plan is a tool to achieve the vision and purpose of the business, but your business is a vehicle to serve you and achieve your goals. So you need to be clear on what you want in … Read more
The first COVID-19 vaccination in Australia rolled out on 21 February 2021 preceded by a wave of protests. With the rollout, comes a thorny question for employers about individual rights, workplace health and safety, and vaccination enforcement. The rollout, managed in phases, is expected to complete by the end of 2021 (you can check your … Read more
Super Retail Group – owner of the Supercheap Auto, Rebel, BCF and Macpac brands – handed back $1.7 million in JobKeeper payments in January after releasing a trading update showing sales growth of 23% to December 2020. Toyota announced that it will return $18 million in JobKeeper payments after a record fourth quarter. And, Domino’s … Read more
We’re often asked the best way to sell a business. There are two key components at play in the sale of a business; structuring the transaction and positioning the business to the market. Both elements are important and can significantly impact your result. Structuring the transaction covers things such as pricing the business, the terms … Read more
Lots of businesses were under financial stress during Covid and even now and many groups were campaigning to make it better for Grant money received from State Governments. Late last year, legislation passed that provided that certain grant payments in response to COVID-19 would be made non-assessable non-exempt income. The legislation requires the Treasurer to … Read more
The JobMaker Hiring Credit Scheme JobMaker can be complex and if you’re wishing to access the hiring credit, you will need to be fully informed about eligibility, enrolment and ongoing compliance. Our client guide to help small business owners understand the benefits and requirements of JobMaker. Download The Guide Here JobMaker is a credit available … Read more
Santa ‘clauses’ – 5 festive season problem areas 1. An anti-social media Xmas party Just imagine that embarrassing photo from the Christmas party (you know the one with the glass of champagne and the photocopier) being circulated to your key customer contacts, or even worse, your mother. Social media creates a whole new way for … Read more