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ATO Targets Profits of Professional Service Firms

The Australian Taxation Office (ATO) has been concerned for some time about how many professional services firms are structured – specifically, professional practices such as lawyers, architects, medical practices, engineers,…

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JobMaker fails to boost employment

The Government’s JobMaker scheme has created 609 new jobs since registrations opened on 1 February 2021, despite around 15,000 businesses registering their interest in the scheme. The hiring credit is…

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Residential Property Market Update – Property Prices & Clearance Rates On The Rise – Everysteps Financial Solutions

The median house prices around Australia rose by more than 2% for the month of February – the shortest month of the year. During March, the upward trend for prices…

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The 1 July 2021 superannuation changes

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,...
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Why are some businesses returning JobKeeper?

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…

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Fringe Benefits Tax for 2021: Tax & Employee Benefits

Fringe benefits tax (FBT) is one of Australia’s most disliked taxes because it’s cumbersome and generates a lot of paperwork. The COVID-19 lockdowns have added another layer of complexity as…

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COVID-19 Vaccinations and the Workplace

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,…

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Winding-up: Simplifying small business insolvency

On 1 January 2021, new laws came into effect that introduce a new, simplified debt restructuring and liquidation framework for small business. Drawing on key features of the Chapter 11…

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The Final Stage of JobKeeper and How to Access it

For those severely impacted by COVID-19, JobKeeper might be available. The third and final phase of JobKeeper started on 4 January and runs through until 28 March 2021. To receive…

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$1,200 rebate for your client’s through Vic Gov’s Digital Adaptation Program due 28th Feb 2021

The Victorian government has unveiled the details of its $20 million Small Business Digital Adaptation Program, offering rebates of up to $1,200 for SMEs looking to get a bit more…