In May 2018 the Government announced that Employers who have not paid their superannuation guarantee (SG) in the past now have a one-off amnesty from penalties to make good on their compliance. In addition, business would also be allowed to claim a tax deduction for the...
It's Now Legislated - JobKeeper Payments Initiative What does it mean for you? As you would be aware the Government is routinely announcing stimulus initiatives for the economy. As business and financial advisors we are focused on analysing and assessing the relevance of each for our clients. One such...
Our Tax Planning Meeting With You This Year Will Be Vital! The Australian Government has just updated its economic stimulus package, which now totals $189 billion. The package has been marketed as a measure to provide timely support to affected workers, businesses and the broader community. The...
More than six million Australians will be getting a cheque for $750 as part of the Morrison Government’s $17.6 billion coronavirus stimulus package. Households receiving government benefits including pensioners and those getting Newstart, Carer’s Allowance and Family Tax Benefits will get the one-off payments from March...
Don’t lose a tax deduction for non-compliant payments to employees! If you are running a business, you can no longer claim deductions for payments to employees/workers if you have not met your Pay As You Go (PAYG) Withholding obligations. This applies to tax returns lodged for the 2020 year...
If you want agreed value income protection, you’ll have to move fast - it won’t be around for much longer. From 1 April 2020, the sale of agreed value income protection policies will cease. What is agreed income protection? When you buy an agreed value policy, your insurance...
About the business Forsythes Business and Financial Advisors is one of Newcastle's leading Chartered Accountants and Financial Planning firms and is seeking a bright and professional person to join our dynamic team on a full-time basis. About the role We are seeking an individual with a positive attitude,...
The NSW government recently introduced a bill whereby all Discretionary Trusts may be deemed to be foreign trusts, regardless of whether they have any foreign connection or not. This has two significant consequences: If the trust purchases any residential property in NSW, it will pay an additional...
The holiday season is upon us! We all like a great party, but none of us want to pay Fringe Benefits Tax (FBT) if we don’t have to. So if you, as an employer, are having a work Christmas or year-end party, how can you enjoy the...
Our last tip looked at creating a simple Plan on a Page for your business. Planning often doesn't materialise into outcomes for a range of reasons including:- - The inability to find the time to act strategically - A lack of accountability - A lack of capability - Tenacity There...
