The Second $66.1 bn Stimulus Package: What You Need To Know The Government yesterday released a second, far-reaching $66.1 bn stimulus package that boosts income support payments, introduces targeted changes to the superannuation rules, provides cash flow support of up to $100,000 for small business employers, and relaxes corporate insolvency laws. The stimulus measures are … Read more
FBT hot spots for 2020 With the start of the Fringe Benefits Tax year looming on 1 April, businesses are being urged to review their Fringe Benefits Tax (FBT) position. The ATO’s top FBT problem areas Motor vehicle fringe benefits – failing to report motor vehicle fringe benefits, incorrectly applying exemptions for vehicles or incorrectly claiming … Read more
Today we put out our live video to help clients connect and take action to get their house in order. It’s important to get off on the right foot, “Most people aim at nothing – and they hit it with alarming accuracy.” The Business Edge Advisors team are here during these difficult times to support and … Read more
The Government has announced a $17.6 billion investment package to support the economy as we brace for the impact of the coronavirus. The yet to be legislated four-part package focuses on business investment, sustaining employers and driving cash into the economy. For business Business investment Increase and extension of the instant asset write-off Accelerated depreciation … Read more
“Most people aim at nothing – and they hit it with alarming accuracy.” The Business Edge Advisors team are here during these difficult times to support and provide positivity to you and your business! As a business owner, there’s one key thing you need to totally focus on now – keeping your business alive during … Read more
Surviving a crisis: Coronavirus and beyond Empty restaurants and retail stores were one of the first signs of the devastating impact the coronavirus on Australian businesses. Within a few months, the virus, now called COVID-19, has gone from being a largely unknown medical condition to one that threatens to impair Australian and global economic growth. … Read more
Hubdoc is like a digital filing cabinet for all your invoices and receipts. But, it’s better than a filing cabinet because you can access it, or send information into this filing cabinet from anywhere in the world. With Hubdoc, you can automatically import all your financial documents & export them into data you can use. … Read more
The long-awaited superannuation guarantee amnesty passed Parliament late last month. Employers who have fallen behind with their SG payments now have 6 months to ‘self-correct’ under the amnesty. But, with the amnesty comes additional penalties if employers fail to take advantage of this one-off opportunity. The Bill containing the one-off superannuation guarantee (SG) amnesty has … Read more
With the bushfire ravaging parts of Australia throughout December and January, the ATO has expanded and extended the relief initially announced in November. Approximately 3.5 million businesses, individuals, and self-managed superannuation funds in identified areas (see the list of affected postcodes) have been granted special concessions and relief by the ATO: An automatic extension until 28 … Read more
Small employers were required to transition to reporting through STP by 30 September 2019. Hundreds of thousands of small businesses are yet to register and are on the ATO’s radar. If any clients who have not yet commenced using STP the ATO has provided some guidance for these taxpayers encouraging them to contact the ATO … Read more
