It has certainly been a summer of contrasts for a lot of our clients and our staff. From bushfires to floods, it has not been an easy start to 2020. The focus has now shifted into recovering and rebuilding, and more specific details are being released on what support packages are available. For example, The...
The Rural Assistance Authority (RAA) announced yesterday, Tuesday 4 February 2020, the application process and guidelines for the Special Disaster Loans – Bushfires. The government assistance on offer for those impacted by the bushfires is provided through a joint Disaster Recovery Funding Arrangement between states and territories and the Commonwealth Government. In summary small businesses...
This article was first published by Chartered Accountants Australia and New Zealand to support small businesses impacted by natural disasters such as fire Many small businesses don’t have a business continuity plan for when natural disasters strike. So here are some practical issues small business operators should consider. 1. Are you OK? Running a business...
The ATO is granting impacted postcodes automatic deferrals for lodgements and payments due. For example: For the monthly BAS due 21 January 2020, the new deferred date is 6 March 2020 For the monthly BAS due 21 February 2019, the new deferred date is 6 March 2020 Please visit the ATO website for more information...
There are a range of grants, allowances, payments and support options available to individuals and businesses impacted by the fires, and it can be overwhelming navigating through them all. The NSW Government has small business support packages and their website is a good place to start. Telstra has also announced assistance packages, and is also...
23 December November monthly BAS due 28 January 2020 December monthly BAS due 28 January 2020 Super guarantee contributions due to a complying super fund or retirement savings account 4 February 2020 Fuel tax credit rates change If you miss a tax deadline, have a tax debt you can’t pay or need an extension please...
Kothes Accounting Group has new corporate compliance software called CAS 360. The cloud-based software allows us to efficiently manage our clients’ company compliance by talking to ASIC in real time. Through CAS 360 we are able to email to our clients their corporate compliance documents which can be digitally signed via DocuSign. Furthermore CAS 360...
So, you have a spare room or vacant property, but don’t want a long-term tenant? Property sharing platforms such as Airbnb and Stayz allow you to provide short-term lodging to travellers, and earn a bit of extra income. But is this income taxable? And if so, what does it mean for hosts come tax time?...
SMALL BUSINESS TIPS Retailers and tourism businesses are in their busiest time of year, but if you have a service business, you might find things are starting to slow. You might also be bracing yourself for a quiet January. Trouble is, it’s also around this time that spending and splurging is unavoidable with Christmas parties,...
Christmas is fast approaching and preparations are underway. As a business owner, you want to thank your employees and show how much they are appreciated. Holding a Christmas party is a great idea. But the cost of holding a staff Christmas party is regarded as ‘entertainment’ expenditure and: It’s not tax deductible You have to pay fringe...