May 2024 Federal Budget Update

On Tuesday 14 May 2024, the Federal Government delivered the 2024-25 budget. An overview of the budget can be found here. Click here to download the Budget Summary

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Is It Time For A Cybersecurity Check Up For Your Business

Cybercrime never sleeps, so round-the-clock prevention and protection must be at the forefront of your business’s cybersecurity plan. Small to medium businesses are just as likely to be the target of a cyber attack as larger businesses but may not be as well-protected. When the average cost of a data breach for small businesses is […]

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Deductions Landlords Should Be Wary Of

Property investors are warned to have sufficient and correct records when declaring rental income and deductions as the tax office is keeping a close eye on real estate claims once again. In an announcement earlier this year, the Australian Tax Office announced that rental incomes and deductions are to be a key focus of tax […]

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Software Integrations To Digitise Your Business

In today’s business world, a failure to modernise with the times could leave your business trailing behind its peers. Businesses must take advantage of the latest technologies available in order to stay relevant and accessible to their clientele. Modernising is more than simply upgrading your physical technology – it’s about adapting and adopting processes to […]

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October 2022 Federal Budget Update

On Tuesday 25 October 2022, the Federal Government updated the 2022/2023 budget. An overview of the budget can be found here. Click here to download the Budget Summary

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Victorian Businesses given cash to seek advice.

Small Business Specialist Advice Pathways Program The Victorian State Government has launched a $2,000 grant that small businesses can use to pay for professional advice from accountants, bookkeepers or lawyers. The grant, called the Specialist Advice Pathways Program is designed help small businesses meet the costs of seeking advice to assist them make the best […]

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Commercial Debt Forgiveness Rules: Natural Love & Exclusion

A debt that has been incurred by a business that cannot be ‘collected or recovered’ may be reduced under the Australian Taxation Office’s commercial debt forgiveness rules. These rules often play a large role in insolvency proceedings and need to be handled carefully. Commercial debt forgiveness occurs when a creditor forgives a commercial debt owed […]

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Wage Theft: Financial Crime or Payroll Mistake?

Public discourse around wage theft generally devolves into accusations of big businesses ripping their employees off intentionally, but many other instances of the crime occurring are inadvertent, due to the complexity of Australia’s payrolling system. Wage theft appears across a broad range of industries and disproportionately impacts young people, overseas students, migrant workers and women, […]

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Fair Work Commission’s Minimum Wage Decision

From 1 July 2022, the minimum hourly wage for Australian workers has been raised from $20.33 to $21.38 by the Fair Work Commission in a landmark decision. The decision sets the pay of at least 2.7 million Australians on the national minimum or awards. In fact, the proportion of all Australian employees dependent on the […]

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The ATO’s Attack on Trusts and Trust Distributions

Click here to download file or continue to read Late last month, the Australian Taxation Office (ATO) released a package of new guidance material that directly targets how trusts distribute income. Many family groups will pay higher taxes (now and potentially retrospectively) as a result of the ATO’s more aggressive approach. Family trust beneficiaries at […]

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