After its introduction in 2011, the instant asset write-off underwent several extensions and was further extended during the COVID period.
As of 1 August 2023, employees of small businesses are able to access 10 days of paid family and domestic violence leave in a 12-month period. Note that employees of non-small businesses were able to access this leave from 1 February 2023.
This event lived up to its name and was a smashing success, with attendees from Sporting Clubs and Community Groups learning valuable tools which can assist their organisations to thrive.
Earlier this month, we hosted another of our lunch and learn events. Tax 101, was entirely conceptualised and hosted by five of our accountants who are all in the early stages of their careers.
The federal government detailed new legislation in July 2023 for small businesses seeking energy efficiency upgrades. The Small Business Energy Incentive offers a 20% tax deduction on these upgrades, valued at up to $100,000.
The federal government detailed new legislation in July 2023 for small businesses seeking energy efficiency upgrades. The Small Business Energy Incentive offers a 20% tax deduction on these upgrades, valued at up to $100,000.
A reminder to all business owners, the next super guarantee payment is due 28 October. This payment is for superannuation accrued by employees in the July – September quarter.
The Technology Investment Boost, initially announced in the last federal budget in March and enacted into law just before the 30 June expenditure deadline, grants small businesses with a turnover of less than $50 million a 20 percent bonus deduction on technology-related expenses that support their digital operations and digitisation efforts.
Nearly 40% of Australians believe they will not have enough funds to retire comfortably. With pressures due to cost of living increases, it is likely we will see this number continue to grow.