If you are using Xero, once you have lodged your BAS either through Xero or through the ATO “finalising” your BAS will ensure any changes are brought forward to the current BAS you are working on. Saving time and confusion when there are mutual users. The ATO allows...
The 120% skills and training, and technology costs deduction for small and medium businesses have passed Parliament. We’ll show you how to take maximise your deductions. Almost a year after the 2022-23 Federal Budget announcement, the 120% tax deduction for...
The digital games and interactive entertainment sector is the largest creative sector in the world and one of the fastest-growing industries worldwide. The global digital games industry is worth around $250 billion and in Australia, grew 22% between 2020 and 2021...
Employers & business The superannuation guarantee increases to 11% from 10.5% National and Award minimum wage increases take effect. The minimum salary that must be paid to a sponsored employee – the Temporary Skilled Migration Income Threshold –...
Bring forward the purchase of assets If there are large assets your business needs to buy (or upgrade), you have until 30 June 2023 to use the temporary full expensing rules. These rules enable businesses with an aggregated turnover of up to $5bn to fully deduct the...
It’s that time of year when we all look at what last-minute things we can do to maximise tax savings. In the wise words of the late Kerry Packer to a Senate estimates committee, “Of course, I am minimising my tax. And if anybody in this country doesn’t minimise their...
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