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Tax Relief for Flood-Affected CommunitiesThe below relief measures are announced to alleviate pressures of small businesses & individuals in flood-affected areas of QLD & NSW:Additional time to meet any upcoming BAS/IAS obligations.Option to vary the quarterly PAYG Income Tax Instalme ...
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Income protection insurance can provide a safeguard when you become sick or injured and are unable to work, leaving you unable to make your usual SMSF contributions.What is SMSF Income Protection Insurance?Most industry and retail super funds offer default income protection insurance for thei ...
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Good financial planning is about doing the small things consistently over time. Most of us have the question of whether “Am I on track? Will I have enough?” This requires reflection on both what we want to achieve for ourselves and what we want to leave as a legacy for children or other family m ...
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The Federal Treasurer Josh Frydenberg delivered the Australian Budget 2022-23 on 29 March 2022. This budget aims to create jobs, develop infrastructure, guarantee services and provide confidence to Australian businesses.We are delighted to bring highlights of the budget that will impact the business ...
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Lodgment ObligationsThe head company of a consolidated group lodges a single income tax return on behalf of the group.Where a group consolidates part way through an income year, the head company lodges a single return covering both its own activities up to the date of consolidation and the gr ...
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Inflation is a measure of the rate of rising prices of goods and services in an economy. Inflation can occur when prices rise due to increases in production costs, such as raw materials and wages. A surge in demand for products and services can cause inflation as consumers are willing to pay more fo ...
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The ATO has released its annual statistical overview of SMSFs for the 2019-20 financial year based on SMSF annual returns in addition to 2020–21 information from registrations, wind-ups, and auditor contravention reports.Highlights include:598,000 SMSFs holding $822 billion in assets, with ...
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Cash Flow Management is one of the biggest secrets of small companies and is essential for them to succeed.Cash plays a vital role in small businesses. Do you know the reason why?Cash helps the small businesses to go on with less profit or no profit for the long term. If the businesses do not have e ...
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Deductibility of expenses incurred for COVID – 19 testsThe government confirmed that a new legislation would be introduced to allow individuals to claim the expenses incurred towards work-related COVID – 19 tests.It is also stated that this legislation will ensure the employers are not im ...
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Why Expense Tracking is important for Small business?
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For the past decades, “Robo-accountants” have been the talk among accountants across various firms. The fear of Artificial Intelligence (AI), machine learning, and automation replacing administrative jobs still loom large.However, it’s really important to not forget that certain things such as ...
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