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Some recent questions on Australian inflation
Australian inflation is very high. The Reserve Bank of Australia (RBA) has been focusing on reducing inflation through the main policy tool available in the central bank’s toolkit – interest rates.
... read more$20k Small Business Energy Incentive
In a pre-Budget announcement, the Government has committed to a Small Business Energy Incentive Scheme that offers a bonus tax deduction of up to $20,000.
... read moreWhat You Need to Know About the Latest RBA Cash Rate Rise
The RBA is back with a cash rate rise of 25 basis points, taking the current rate to 3.85%. Strong jobs and inflation data means there is more work to be done to control price rises, further rate increases haven’t been ruled out.
... read moreATO PAYGW prefill is coming to activity statements
Employers report their pay as you go (PAYG) withholding information to the ATO each time they pay their employees using Single Touch Payroll (STP).
... read moreThe low down on depreciation
If you have business assets which are expected to decline in value over time, such as machinery, motor vehicles, furniture, computers and phones, it’s likely that you would have claimed a depreciation expense.
... read moreCompany money: A guide for owners
When you start up a business, inevitably, it consumes not just a lot of time but a lot of cash and much of this is money you have already paid tax on. So, it only seems fair that when the business is up and running the business can pay you back. Right?
... read moreTemporary Full Expensing (TFE) due to finish soon!
TFE, is due to finish on 30th June 2023!
Find out more about Temporary Full Expensing in this short video where Pat Mannix of Paris Financial explains the in's and out's for eligible businesses.
Can you claim an immediate cost deduction for the business portion of your assets for this year? Click the video to learn more!
Want to chat further with our team about this topic? Feel free to get in touch with our team on: (03) 8393 1000.
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Future earnings for super balances above $3m taxed at 30% from 2025-26
The Government has announced that from 2025‑26, the 15% concessional tax rate applied to future earnings for superannuation balances above $3 million will increase to 30%.
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