The big bank levy could be the key to curing two of the Turnbull government’s biggest headaches: its continuing failure to legislate for company tax cuts and the scandals now emerging from the banking Royal Commission. Thomson Reuters Australia Senior Tax Writer, Stuart Jones, said that the bank levy could be increased by this Federal… Read more »
Industry experts are suggesting personal tax cuts are likely to be a centrepiece of the Federal Budget, but the question of how exactly they’ll be funded is still anyone’s guess. Tax Consultant to Thomson Reuters, Terry Hayes, suggested the government has very little wriggle room if it wants to hit its target of returning to… Read more »
Mining the smart economy with a fresh take on R&D tax incentives In the wake of the mining boom, Australia is boosting efforts to ‘mine the smart economy’, with a promise to overhaul the $3 billion Research and Development (R&D) Tax Incentive in the May budget. Treasurer Scott Morrison has revealed the new-look incentive will… Read more »
If you’re expecting major reforms from this year’s budget, the experts at Thomson Reuters suggest you might be out of luck. Here are their tips for what SMEs can expect. According to Thomson Reuters’ Senior Tax Writer, Ian Murray-Jones, the Turnbull government has switched its focus from delivering major reforms to short-term wins as it… Read more »
After a very well-deserved break to ease themselves into the new year, the politicians shuffle back into Canberra on 5 February – and awaiting them is a list of tax and financial legislation to chew over. Over the past few years, the ATO has been clamping down on tax compliance issues for businesses big and… Read more »
“It’s all good, I’ll claim it back on tax”. How often have you found yourself saying these words without having any clear idea how you’re actually going to claim that long liquid lunch back at tax time? Did you even keep the receipt? As a small business owner, you have many responsibilities, none more so… Read more »
A recognisable trend on the rise is the number of people working full-time while running a part-time business. Thanks to the world wide web in conjunction with innovative technology, never before has it been easier to set up a shop and go global in an instant. Online interactions, in particular social media has grown to… Read more »
Advancements in technology are forcing cash to gradually become redundant, and the government is in favour of cashing in coins for digital dollars. There are many valid arguments both for and against a cashless economy (keep reading for details), but ultimately it is the government and the powers that be that will dictate how we… Read more »
Purchasing a home should be one of life’s most exciting experiences with many likening it to getting married, starting a family – or – launching a new business. However, the experience has been somewhat tainted by the government’s move to shift the onus of paying GST onto the purchaser of a new residential premises. House… Read more »
With proposed company tax cuts officially in play, no better time than now for small businesses to capitalise on the latest reforms.
How you find time for, well, just about anything else in life? And why should you dedicate it to improving your financial fitness?
If things are turning pear-shaped for your business, if you feel like you’re flogging a dead horse, and if you’ve exhausted all avenues of a financial resurgence than it may be time to call it a day… or find a new venture. It’s perfectly okay to pursue new opportunities, but it’s not okay to jump… Read more »
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