This year’s Federal Budget raised the instant asset write-off level for businesses to $30K. So, what difference does it make and how can small businesses maximise its impact? We explain. As a small business owner, you’ll know only too well that spending money on new assets is always a carefully thought-out decision. And rightly so – asset purchase is a big deal. The 2019 Federal Budget saw two significant changes to the instant asset write-off scheme, which means that now there may be an even […]

The arrival of Single Touch Payroll is being described as the biggest revolution in tax since the GST was introduced in July 2000. But wrapping your head around how it all works can seem challenging from the outside. We spoke to the experts from the Australian Taxation Office (ATO) about what small businesses need to know. In principle, it’s simple. From 1 July 2019, all businesses with fewer than 20 employees will be required to report their employees’ payroll information to the ATO every time […]

With Single Touch Payroll (STP) on the horizon for all Australian businesses, it will have implications for different owners. We spoke to the experts from the Australian Taxation Office (ATO) about some of the advanced elements of STP.For some, it will mean little more than hitting an extra key each pay run. For others, it will usher in a new chapter in managing outstanding debt with the ATO.So beyond the basics of Single Touch Payroll, what can Australian small businesses expect for the new financial […]