Blog

Can I use my Super Fund to buy Cryptocurrency?

Super Funds are a popular investment vehicle in Australia due to their concessional tax rates. It is possible to buy crypto in a Super Fund but only in particular circumstances. ...

How is Cryptocurrency taxed?

Cryptocurrency, like any investment is subject to tax. The ATO have been increasing their surveillance of crypto trading and if you dont declare your gains, there is a high chance of an ATO audit. ...

What is Cryptocurrency?

The number of people invested in Cryptocurrencies has risen significantly over the last year with some estimating that one in 5 Australians own Crypto. Read here to get a better understanding of what is Cryptocurrency. ...

Is my Business eligible for another state COVID grant?

The South Australian Government have announced a new grant to help compensate for restrictions brought in from December 27 2021. ...

New Super Requirements for Employers have commenced

From the 1st of November 2021, there are new super requirements for employers who hire new employees. ...

What do I need to do to get ready for STP Phase 2?

The ATO is expanding the payroll information it collects through Single Touch Payroll from the 1st of January 2022. This will mean employers will need to review their pay systems to ensure they are compliant. ...

All Directors now need a Director ID. How can I apply?

From the 1st of November 2021, all directors of Australian Companies are required to apply for a Director ID. Existing directors have 12 months to apply. ...

Is my Business eligible for further COVID support?

The South Australian Government has announced a further COVID support grant for those businesses who continue to be impacted by ongoing restrictions. ...

COVID Assistance for South Australian Businesses

The South Australian government has announced a Business Support Grant for SA businesses impacted by lockdown. ...

Government Assistance during Lockdown

The Federal Government provides a number of COVID assistance payments for people affected by quarantine or lockdown requirements. ...

Final date to start using Single Touch Payroll approaching

The due date for employers with related party employees to start using STP to report wages each pay period is the 1st of July 2021 ...

Pay your Super on time or risk Huge Penalties

The ATO have started matching Single Touch Payroll data to determine if employers have been paying their Super on time. Large penalties can be issued for even being a few days late so it is more important than ever to pay on time. ...

2021/22 Budget - What does it mean for me?

The federal budget has been released and several tax measures have been extended. There are once off tax cuts for most individuals and a few adjustments to super. ...

2021/22 Budget - What does it mean for my business?

The budget didn't contain much for small businesses. Some measures were extended and some important super guarantee rules are proposed to change. ...

SA Lockdown - What can I do with my Employees?

With strict lockdown conditions in place for South Australia for 6-14 days, it is important to understand what your rights and obligations are in regards to employment arrangements. ...

SA Lockdown - What Government assistance is available?

With many people unable to work or operate their business during the South Australian lockdown, it is important to look at what government assistance could be available. ...

Employers Beware of Huge Penalties for Late Payment of Super: ATO data matching has begun

With the recent introduction of Single Touch Payroll and Super reporting, it was inevitable that the data would eventually be used to automatically detect late or unpaid super. The potential penalties for paying super late are massive so it is critical that all super is paid...

Is my Business eligible for another COVID grant from the South Australian Government?

The South Australian Government has announced a second round of Emergency Cash Grants for Small Businesses and not for profit entities of up to $10,000. Find out if you are eligible here ...

2020/21 Budget - What does it mean for me?

The Government has released their budget for 2021. What does it mean for you? ...

2020/21 Budget - What does it mean for my Business?

The Government have announced several measures designed to support businesses through the Coronavirus induced recession. Find out what it means for your business here. ...

JobMaker Hiring Credit - Am I eligible?

The government has announced a new wage subsidy called the JobMaker Hiring Credit. It pays an amount of up to $10,400 to employers who employ eligible young people. ...

Phase 1 of Jobkeeper has ended, what do I do now?

The initial phase of JobKeeper has come to an end on the 27th of September. What steps do you need to take now and are you eligible for an extension? ...

We are Moving, Same Building, Downstairs

From the 19th of October we will be operating from a new office directly downstairs from our existing office. ...

South Australia extends Land Tax relief and Mandatory Code of Conduct period

The South Australian Government has increased land tax relief up to a potential 50% reduction in land tax. Provisions to protect Commercial tenants have also been extended. ...

Super Guarantee Amnesty ends 7 September

The six month amnesty for employers to catch up on unpaid Super Guarantee contributions without penalties ends on the 7th of September 2020. ...

Do the new Jobkeeper employee eligibility rules affect you?

The Government has made a change to the current JobKeeper scheme to move the reference date for determining employee eligibility to the 1st of July 2020. This will bring many employees who weren't previously eligible into the scheme from the 3rd of August. ...

Is my business eligible for loan assistance?

The Government has extended a scheme that provides a guarantee to banks to enable them to provide funds to small businesses more freely than before. ...

Questions to ask as your small business recovers from COVID-19

As small business owners look to operations after COVID-19, there are some important business questions to ask. These questions will help you determine what adaptations you want to keep, whether your business model is working, and if there are additional changes you want to make...

Will I be eligible for JobKeeper 2.0?

The Government has announced an extension of the JobKeeper scheme to the 28th of March 2021. The catch is that there will be a new test for eligibility and payment rates will reduce. ...

Important Changes to JobKeeper

The JobKeeper rules have been constantly updated and amended to fix unintended loopholes and provide greater flexibility. These include an extension of time to make payment and the exclusion of dependent 16 and 17 year old students. ...

Land Tax relief for Residential and Commercial Landlords

The South Australian Government has followed the lead of most other states and announced land tax relief for certain landlords who provide rent relief to their tenants. ...

What Government benefits are available during the COVID-19 period?

With benefits available during the COVID-19 period constantly changing, we have summarised the benefits available to ensure you haven't missed any assistance. ...

Am I eligible for a JobKeeper Payment?

The government’s Jobkeeper legislation has now passed parliament. Jobkeeper provides eligible employers $1,500 per fortnight for each eligible employee for up to six months from the 30th of March 2020. ...

How can my Business get $10,000 from the South Australian Government?

The South Australian Government has announced $10,000 Emergency Cash Grants for Small Businesses and not for profit entities. Find out if you are eligible here ...

Is my business eligible for a JobKeeper payment?

The government’s Jobkeeper legislation has now passed parliament. Jobkeeper provides eligible employers $1,500 per fortnight for each eligible employee for up to six months from the 30th of March 2020. ...

How will the Mandatory requirements for Commercial Rent relief affect me?

The Government has finally released it's COVID-19 response in relation to Commercial tenancies. Rather than provide any financial assistance, the Government has created mandatory guidelines determining how much of the cost of this crisis will fall on the landlord and the tenant. ...

Eligibility for JobSeeker payments expanded for those who have Partners who still earn income

The income test for JobSeeker payments has been temporarily adjusted for those who have a partner who is still earning income ...

JobKeeper Incentive - What you need to know and what questions remain

The government has announced its third large assistance package called the JobKeeper payment. We have summarised what we know and what questions need to be answered once the legislation is released ...

South Australian Land Tax Relief Extended

The South Australian government has extended land tax relief as part of the transition to the new aggregation method of calculating land tax starting in July 2020. ...

How will the Government's new measures help my business cash flow?

The Government has announced a second package of measures to help with business cash flow. ...

What are the rules regarding employees during the Coronavirus?

With many businesses facing shut down or severe reductions in turnover, businesses are being forced to consider reducing staff hours, standing staff down or letting them go. Employers obligations in these circumstances are complicated but here is some guidance. ...

What can I do to help my business survive the Coronavirus?

Many businesses across the world are now facing the prospect of reduced turnover, restricted trading conditions or forced shutdowns. There are a number of measures that have been introduced to assist businesses in getting through this tough period ...

Will I receive a benefit from the Government's second Coronavirus package?

The Government has announced a second Coronavirus package much bigger than the first. Find out the details in this article. ...

ATO introduces payment deferral options for businesses affected by Coronavirus

The ATO has announced measures to assist businesses by deferring certain tax payments if they are impacted by the Coronavirus. ...

Will I receive a $750 stimulus payment from the Government?

The government has announced cash payments to many Australians. Find out if you are eligible here. ...

What does the Government's stimulus package mean for my business?

The government has announced measures to assist small and medium businesses to assist with cash flows and encourage investment. ...

How Property taxes across Australia could impact you

Property taxes vary greatly across the country. In recent years most states have introduced surcharges for foreigners and different types of entities which could potentially catch locals. In this article we compare different state taxes and explore how you could be caught by a...

How can I lodge STP on time during the holidays?

With the first Christmas approaching for many under the mandatory Single Touch Payroll (STP) reporting regime, many people are asking how can they avoid lodging STP late. We discuss the options in this article ...

Foreign Residents and Ex-pats to lose the Main Residence CGT Exemption

Foreign residents, including Australian citizens who are not tax residents, in most circumstances are no longer eligible for the Main residence CGT exemption. There is a transitional period which may still allow an exemption up to 30 June 2020. ...

How will the South Australian Land Tax Changes affect you?

After several amendments, the contentious changes to Land Tax in South Australia have passed through parliament. The following article outlines what the changes are and how the changes may affect you ...

Huge Land Tax Increase proposed for South Australia

The South Australian budget contained a nasty surprise for property investors who hold multiple properties under different ownerships or family trusts with a change to how land tax is calculated. ...

How much will I get from the new tax cut?

The Government’s proposed tax changes have now passed parliament. Read this article to find out what this might mean for you. ...

Remember to submit your STP finalisation by 31 July

The 2019 Financial Year is the first year for most employers that they will have been registered for single touch payroll. This has meant a big change for employers end of year reporting of employee income. ...

Single Touch Payroll - What do I need to do to comply?

The deadline for businesses with less than 20 employees to start reporting their payroll information each pay period using Single Touch Payroll is 30 September 2019. ...

Understanding franking credits and how they impact you

One of Labor's major policies coming into this election is the removal of franking credit refunds. This article explains how franking credits work and what the impact of the proposal might be. ...

What are the tax policies of Labor and Liberal this election?

The two major parties are coming into this election with significantly different tax policies. Labor plan on introducing a raft of tax increases affecting super, small businesses, retirees and high income earners while both parties will implement tax cuts for low and middle...

2019/20 Federal Budget - What does it mean for me?

This years budget is unusual in that it is more an outline of policies for the Liberal government heading into the upcoming election rather than something that is likely to be legislated over the coming months. ...

Removal of Main Residence Exemption for Non-Residents not proceeding

The measure announced two budgets ago has been stalled in parliament for some time. Now with no sitting days left before the election, the bill will lapse ...

5 Common Bookkeeping Pitfalls — and How to Avoid Them

Although most entrepreneurs recognise the importance of careful financial management, few want to spend their time dealing with numbers. Unfortunately, not keeping a close eye on your income and expenses can be very costly for a business. ...

10 tips to reduce Debtor days for Small Businesses

Steady, reliable cash flow is crucial for the survival of any small business – so taking steps to ensure your customers pay promptly should be a key priority. ...

Small Employers to be given some relief from the costs of Single Touch Payroll

With Single Touch Payroll due to impose a new regulatory burden on small employers from 1/7/2019, the ATO have announced measures that could potentially reduce costs for businesses with between one and four employees. ...

State Budget delivers Tax Cuts for South Australian Employers & Landowners

The South Australian budget proposes cuts to payroll tax and land tax providing relief to many small to medium businesses and land owners ...

Mandatory Single Touch Payroll is coming for all employers - What do I need to do?

From 1/7/18 Single Touch Payroll became mandatory for employers with more than 20 employees. This will apply to all employers from 1/7/19 and result in an increased compliance burden and cost. ...

Cash Flow hit for Property developers under new GST Withholding rules

New GST Withholding rules came into effect from the 1st of July 2018 and bring with them new reporting obligations for anyone selling residential or potential residential property. They will also result in a cash flow hit for developers. ...

What are the new GST Withholding obligations for Property purchasers?

New GST Withholding rules came into effect from the 1st of July 2018 and bring with them new reporting obligations for all residential property purchasers along with significant potential penalties. ...

Encouraging Word of Mouth

Positive word of mouth is an incredibly effective tool to help grow your business. The following are some tips on how to help generate referrals. ...

2018/19 Budget - How does it affect me?

Key Measures:

• Tax offset for low and middle income earners
• Seven year tax cut plan
• Previously announced Medicare Levy increase will not proceed
• Increase in Pension work bonus
• Expansion of Pension Loan Scheme

2018/19 Budget - How does it affect my Business?

Key Measures:

• Extension of Immediate Asset Write off
• Removal of deductibility of employee or contractor expenses where tax has not been withheld appropriately
• A cash payment limit of $10,000
• Extension of Reportable Contractor Payments...
  May 8, 2018

2018/19 Budget - How does it affect my Super?

After some massive changes in recent budgets, there was not much in the budget regarding super but there were a few important enhancements. ...

How could Labor's proposed Franking Credit policy affect me?

Bill Shorten has announced and already watered down a policy which would prevent individuals and super funds from having unused franking credits refunded to them. This policy could affect everybody even if you don't directly own shares. ...

Downsizing Contributions Provide One Last Chance to Contribute to Super

From 1 July 2018, regardless of your ability to otherwise make super contributions, you may be eligible to make a contribution using the proceeds of sale from your home. ...

Yellow pages vs Facebook ads – should you cancel your print listing?

If you’re a small business owner with a modest marketing budget, every dollar you spend has to be worth the investment. Online advertising can be better targeted than traditional forms of advertising ...

Is the First Home Saver Scheme worth using?

The First Home Saver Scheme is now available to First Home buyers to increase the amount they have available for a house deposit by contributing to super and obtaining tax concessions. ...

What depreciation can I claim for my Rental Property under the new rules?

From 1/7/17 new rules came into effect to limit the types of rental property assets on which depreciation can be claimed as a tax deduction. ...

Main Causes of Stress for Business Owners & How to Counter Them

Many entrepreneurs believe that hard work and dogged determination are all it takes to build and sustain a successful business. But when you consider the pressures of running a company, it seems wise to add effective stress-management to the list. Left unchecked, stress can erode...

​How to prevent employee theft

The recent statistics on employee theft is shocking. According to one US source, 75% of employees admit to having stolen at least once from their employer—and employee theft costs a company on average 7% of their annual revenues each year. ...

​Tips for getting rid of slow moving stock

Stale inventory is a costly nuisance for any business owner. Fortunately there are a number of ways to recoup at least part of your investment on old, slow-moving stock. Get rid of your old inventory with these six tried and true ideas.

Why Shorten's 30% Minimum Trust Tax Proposal Fails the Fairness Test

Bill Shorten has announced that if Labor win the next election, he will seek to introduce a 30% minimum tax on Family Trust distributions. This will unfairly impact many small businesses run through a trust. ...

Congratulations Brian

Brian has now officially retired. We would like to congratulate Brian on a great career in which he has helped many small businesses flourish, save tax and solve their problems. ...

Don't Miss Out On Your Grant For New Employees and Apprentices

In addition to the Job Accelerator Grant (JAG) we discussed in our earlier blog, the South Australian Government has now introduced a new grant that will allow businesses that register a new employee for a JAG to receive up to an additional $5,000 ($2,500 per year), if...

Your tax debt may now be reported to Credit Agencies

The Federal Government has announced that from 1 July 2017, the ATO will be given the power the disclose business tax debt information for tax debts that are over 90 days old if the business has failed to engage with the ATO in regards to...

South Australia set to tax property purchased by foreign owners

From 1 January 2018, a 7 per cent conveyance duty surcharge will apply to South Australian residential property purchases by foreign buyers and temporary residents. ...

2017/18 Budget - First Home Super Saver Scheme

One of the few budgets measures that provided a benefit was the introduction of the First Home Super Saver Scheme. The scheme enables first home owners to obtain a tax benefit by voluntarily contributing to super and withdrawing the proceeds to purchase their first home. ...

2017/18 Budget - How does it affect Foreign Property Investors

Key Measures:

• Foreign and temporary residents set to lose main residence CGT exemption
• New vacancy tax applicable to FIRB approved property purchases
• 50% limit on foreign ownership of new developments
• Decrease in threshold for Foreign resident...
  May 10, 2017

2017/18 Budget - How does it affect me?

Key Measures:

• 0.5% increase in the Medicare Levy
• Students will pay more for university education and sooner
• Big new tax on banks
• Foreign resident property owners hit hard
• Super concessions for first home buyers

The Small Business Tax Increase the Government doesn't want you to know about

While the headlines of the previous budget proclaimed small business owners would be paying less tax, many small business owners will actually be paying more tax as a result of the reduction in tax rates ...

How do the Child Care Rebate Changes affect me?

The government has eventually been able to pass their proposed child care changes through Parliament. For many it means an increase in child care rebate but the news is not so good for those who don't meet the activity test. ...

New cost for holding Vacant Residential Property

The Victorian government has announced the introduction of a Vacant Residential Property Tax. There are also other costs you need to consider when holding vacant property in other states. ...

Welcome Daniel

We would like to introduce you to our newest team member, Daniel Thomolaris. ...

Four ways you can Grow your Business

There are four key drivers of growth that all businesses need to focus on but too often are forgotten. ...

Super changes - What am I allowed to do with my super?

Changes to super recently passed through Parliament and are now law. The changes originally put forward in the budget were significantly altered leading to confusion about what can and cant be done. ...

Ethical Investment - Can you do well while doing good?

Does investing ethically impact on your returns? Our Financial Planning partners at Accord Financial Solutions have investigated and written this article. ...

How can I go carbon neutral?

We have recently started a plant a tree program in which we plant a tree for every business Tax Return we lodge. Find out how you offset some or all of your emissions in the following article. ...

​Get yourself ahead of the pack by systematizing your business

All businesses have systems. They make the wheels of your business machine turn. Some systems are formal and many are informal. Systems that are informal can keep your wheels from turning smoothly when it comes to day-to-day operations, closing sales and ultimately selling or...

How to Improve Your Cash Flow

A leading reason for business failure is poor cash flow.The following article provides some tips on how to release locked up funds to boost cash flow. ...

How do the updated Super Changes affect me?

The government has finally made a decision on what changes they propose to make to super. Find out how these changes will affect you by reading this article. ...

Will Your Net Wages Increase in October?

The ATO has released new PAYG Withholding tables to apply from 1/10/16 to reflect tax cuts currently before parliament. ...

Thinking of selling your business? There’s a lot of work to do…

Business Succession Planning is too often left until the last minute. The sooner you plan out the succession or sale of your business, the more time you have to get things right and, in the case of sale, to maximise the sale price. ...

Five Key Fair Work Obligations for Employers

Australian Industrial Relations law is incredibly complex. The following are five key areas to comply with to avoid making costly mistakes and incurring penalties. ...

Four of the Most Common Financial Mistakes Small Businesses Make

Learn how to avoid four common business mistakes. ...

Suburban law firm cleans up its act to improve profitability

Click here to read an example of how we may be able help your business by helping remove inefficiencies. ...

State Budget: Employers to receive grants for creating new jobs

The highlight of the recent SA State Budget was the creation of a grant for small businesses offering up to $10,000 per new full time equivalent job created. ...

Dentist’s revenue jumps with one simple process change

Click here to read an example of how we may be able help your business by reviewing your processes, identifying strengths or weaknesses and suggesting appropriate strategies. ...

How will the Election affect me?

Find out which tax policies might affect you at the upcoming election and what action you'll need to take. ...

What a Business Plan can do for you and how to use it

Running a business without a business plan is like rock climbing blindfolded. Your chances of making it successfully to the top are slim. And the process will surely be a death-defying one ...

Buyer Beware: You may need to withhold tax when settling a property purchase

New Withholding tax rules apply from 1/7/16 on property transactions over $2m. If you don't follow the required procedure the consequences can be enormous. ...

Budget 2016/17 - How does it affect me?

Budget Highlights for Individuals:

• Tax cut for individuals earning more than $80,000.
• Increased eligibility to make concessional contributions to super but caps decreased.
• Increase in availability of Low Income Spouse Contribution...
  May 3, 2016

Budget 2016/17 - How does it affect my Business?

Small Business Budget Highlights:

• Increase in small business turnover threshold.
• Cut to tax rate on small business earnings in companies from 28.5% to 27.5%.
• Unincorporated small business tax discount to be increased.

Budget 2016/17 - How does the Budget affect my Retirement

Superannuation Budget Highlights:

• A tax free retirement balance cap of $1.6m
• Removal of tax exemption on earnings supporting a Transition to Retirement Pension
• Lifetime Cap on Non-Concessional Contributions of $500,000
• Many Concessional...
  May 3, 2016

How can we help you minimise Land Tax?

If you are ready to purchase a property or are already paying too much land tax, we can help you to minimise your land tax while also considering other factors such as income tax, stamp duty and asset protection. Click here to see three examples of how we can help. ...

Property Owners Beware of New Land Tax Sting

Land tax is a vital consideration whenever you purchase a property. This is because in South Australia, properties with the same ownership are added together and taxed at potentially substantially higher rates than if the properties were owned by different owners. Recent changes...