With the collapse of several businesses in the housing and construction industry recently—due to COVID impacts and supply chain shortages—with more tipped to collapse over the coming months, there has been increased demand for business restructuring information and advice.
A draft ruling was issued in February 2022 where the ATO has targeted common transactions many trustees might have entered into in the past. This ruling seeks to stop commonly used trust distributions to family members.
The ATO is encouraging businesses to take precautions and review their cyber security measures in the wake of increased technological adaption and reports of scams and breaches.
From 1 July 2022, the $450-per-month threshold for super guarantee will be removed. Due to this change, by 1 July 2022, you will also need to ensure that employees who are under 18 years of age who work 30 hours or more per week in your business are paid super.
A DIN is a 15-digit identification number used to verify the identity of a Director of a company. A DIN will be used for life and does not need to be re-applied for if they change companies, stop being a Director, change their name or move overseas…
In December, the ATO published new guidelines regarding how Professional Firms must allocate their profit. Professional Firms include legal, medical, engineering, architecture, management consulting and financial service practices…
Help your business minimise the rate of inflation: Evaluate Your Supply Chain Risks A few key vulnerabilities to look out for regarding supply chain risk during times of inflation include…
There are many sources of business risk. It is important that business owners understand there are certain risk events that can be controlled and some that cannot. Changes in government legislation and environmental impacts—floods, droughts, fires…