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Increased flexibility for Parental Leave Pay for self-employed
From 1 July 2020, parents accessing the Government’s parental leave pay (PPL) scheme will have greater flexibility and options. Targeting the self-employed and small business owners, the changes introduce a new flexible paid parental leave pay period of 30 days. Previously, new parents could apply for PPL for a continuous block of up to 18 weeks.
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Company Tax Rate Reduction – 1 July 2020
The company tax rate is set to reduce to 26% for small and medium business from 1 July 2020 despite the current economic environment.
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Business owners now personally liable for GST compliance
From the start of April 2020, the tax office will be deeming directors as entirely liable for their company’s GST responsibilities.
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What types of insurance should a business have?
Insurance often seems like an enormous waste of money… until you need the cover.
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How to know if your worker is an employee or a contractor.
Determining whether your worker is an employee or a contractor can often be a challenging task.
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What business structure is best for cryptocurrency investors?
After deciding to invest in cryptocurrencies, you will need to make a choice of which structure you would like to invest or do business in.
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How Much Can You Claim On Your 2019 Return?
The ATO have sophisticated data matching tools which allow to identify any out-of-the-ordinary or ‘too high’ claims.
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The Difference Between Income Tax And Instalment Tax
If your business activity drops my suggestion is to go and talk to your accountant and they should be able to drop the amount per quarter that you have to pay.
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