News

TAX ADVANTAGES OF BEING A SMALL BUSINESS

Being a small business can be difficult, but the Australian Taxation Office has provided several concessions which are available only to small businesses. A small business is any business with a turnover of less than $10m.  Once you are classed as a small business you can access the following concessions; Immediate write-off of Assets costing […]

Business Name Registrations

All businesses will need to ensure they have registered all trading names as a business name with ASIC by 31 October 2018 in order to continue operating with it. If you have any questions regarding your Business Names Registration or need to apply for one, please contact our office.

ATO PREPAYMENTS NOW AVAILABLE

The Australian Taxation Office now offer a prepayment option, allowing you to make payments towards your expect income tax or activity statement liabilities before they are due. You don’t need to wait for a bill from the ATO to make payments.  Payments can be made at any time and as often as you like to […]

SINGLE TOUCH PAYROLL

Single Touch Payroll is a government initiative to streamline business reporting obligations. From 1st July 2018 employers with 20 or more employees will need to report using Single Touch Payroll.  Employers will need to report payments such as salaries and wages, pay as you go (PAYG) withholding and super information directly from their payroll software […]

ATO SUPER CLEARING HOUSE CHANGES

In early 2018 the ATO Small Business Superannuation Clearing House (SBSCH) will be moving to online services. You will be able to access the SBSCH using the Tax Agent portals, BAS portals or mygov account. The ATO will email SBSCH authorised contacts about the transition in due course. If you have any questions regarding this […]

PAYROLL TAX CUTS FOR REGIONAL VICTORIAN BUSINESSES

In the 2017/18 Federal Budget the Government announced cuts to Payroll Tax for Regional Victorian Businesses. From 1 July 2017 Regional Victorian business may now qualify for a 25% cut in their payroll tax. Employers that pay at least 85% of their Victorian wages to employees working mainly in regional areas will be eligible for […]

SIMPLER BAS FOR SMALL BUSINESSES

From 1st July 2017, GST reporting on Business Activity Statement will become easier with Simpler BAS. All small businesses with an annual GST turnover of less than $10 million will be automatically moved to Simpler BAS. If your annual GST turnover is $10 million or more, your reporting requirements will remain the same. If you qualify […]