Tax Tips For Business Owners

Improvements to be Made to Full Expensing Measure

By Warren Kruger / December 12, 2020 / 0 Comments

  | | | The government will expand eligibility for the temporary ‘full expensing measure’, which temporarily allows certain businesses to deduct the full cost of eligible depreciable assets in the year they are first used or installed. The government initially announced in the 2020/21 Budget that businesses with a turnover of up to $5 […]

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How to Avoid Getting Dodgy Advice

By Warren Kruger / December 9, 2020 / 0 Comments

  | | | The ATO is warning taxpayers who may be thinking about pausing, changing or closing their business, due to the current economic conditions, to be wary of untrustworthy advisers who may recommend inappropriate or illegal behaviour. This could include illegal phoenix activity, where businesses intentionally remove their assets prior to winding up […]

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Proposed FBT Exemption — Retraining And Reskilling

By Warren Kruger / December 3, 2020 / 0 Comments

  | | | The government has announced it will introduce an exemption from FBT for retraining and reskilling benefits provided by employers to redundant, or soon to be redundant, employees where the benefits may not be related to their current employment. It is proposed that this exemption will not apply to: retraining provided under […]

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JobMaker Hiring Credit Passed

By Warren Kruger / December 1, 2020 / 0 Comments

  | | | The government has passed legislation to establish the JobMaker Hiring Credit, which is part of the government’s economic response to the COVID-19 pandemic. The JobMaker Hiring Credit is specifically designed to encourage businesses to take on additional young employees and increase employment. It does this by providing employers with a fixed […]

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Companies Holding Meetings And Signing Documents Electronically

By Warren Kruger / November 30, 2020 / 0 Comments

  | | | The Government has made another determination extending the timeframe within which companies can hold meetings electronically and enabling electronic signatures to be used, to relieve companies from problems they face due to the Coronavirus situation. This determination is intended to be in effect until (and will be repealed from) 22 March […]

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Employers Need To Apply Recent Tax Cuts As Soon As Possible

By Warren Kruger / November 9, 2020 / 0 Comments

  | | | The ATO has now updated the tax withholding schedules to reflect the 2020/21 income year personal tax cuts – the updated schedules are available at The ATO has said that employers now need to make adjustments in their payroll processes and systems in order for the tax cuts to be […]

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