From the start of the financial year obligations on employers will change regarding the superannuation guarantee obligations. So it is critical that your payroll and HR system is current because the current penalty regime for missed (and late) super guarantee payments is severe. Further, the mere catch-up payment of late superannuation obligations is not enough.… Continue reading Getting your business set for 1 July 22 payroll & HR changes
The governments temporary full expensing of assets has changed the concept of depreciation. If your family business buys an asset it is deductible in full the year it is ready and it is not expensed over its useful life. Classically the tax depreciation of an asset roughly lined up with the time-period that the asset… Continue reading Running a fixed asset and tax register
If you are a small business or a medium sized business looking to expand your presence offshore by exporting, the export market development grant is especially designed to help you do that. How much is the Export Market Development Grant? The maximum grant payable is $770,000 over an 8 year period. It is capped at… Continue reading How the Export Market Development Grant can help business families
As small business accountants we often come across business owners who find that accounting is a foreign language that will never makes sense. And the fundamental fault for this lies in the person presenting the information – the small business accountants. The language of small business accountants is simply a language. And the better the… Continue reading What is business accounting?
In Australia inflation has effectively not been part of the family business and investing landscape for at least two decades. So dealing with rising prices and rising costs, and engaging cloud accounting software solutions to help that, in your commercial family business to make it prepared for inflation is important. Here are some simple measures,… Continue reading Structuring your business to combat inflation
Cloud accounting is definitely the buzzword for Australian small and middle sized businesses. And while cloud accounting is often talked about many Perth business owners are not completely sure about what is cloud accounting and what it means for their business. Cloud accounting is still accounting The primary reason why businesses do accounting is to… Continue reading What is Cloud Accounting and how does it help family businesses?
As Xero scales up (and down) its cloud accounting solution for business across Perth and Australia it is exciting to see that Xero has recently released their new “Ultimate Plan” What is the Ultimate Plan? The Xero Ultimate Plan is the most comprehensive plan available to the families who own businsses. It includes Xero’s core… Continue reading A deep dive into the New Xero Ultimate package
With 30 June just around the corner many business operators across Perth and greater Western Australia are thinking about tax planning for business and their structures. Why is tax planning important? Taxation is a primary factor in the after-tax returns from a family business. And tax planning is an important step in strategically managing your… Continue reading Your definitive guide to Business Tax Planning Strategies
Now that JobKeeper has ended many accountants are calling the end of State Government COVID grants. And that is not the case at all. In particular the Small Business Hardship Grant is particularly attractive for businesses. How much can I get? The amount of the grant is dependent on the number of employees you have… Continue reading West Australian Covid Grants are still alive and well
As accountants we understand that an estate plan goes beyond preparing a will and a testamentary trust. The practice of making sure you choose the time when you transfer your estate together with the correct recipient (tax effectively) ranges from simple to deeply complex. The following are some simple tips to making sure your estate… Continue reading 13 Estate planning tips beyond your will