There are a variety of elements to consider before deciding to either start or buy your own business. Before taking the leap, here are four factors you should consider. It’s a marathon not a sprint The first step toward owning and running a successful business is to make sure that you’re ready. This venture is going to…
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As part of a broader focus on ensuring employers comply with their superannuation guarantee (SG) obligations the ATO notes that there have been some issues in determining whether annual leave loading amounts should be included as ordinary times earnings (OTE) and thus subject to SG. Keep reading for the Superannuation Guarantee treatment for leave loading!…
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From 2 April 2019 (Budget night), the Government has increased and expanded access to the instant asset write-off by increasing the instant asset write-off threshold from $25,000 to $30,000. The threshold applies on a per asset basis, so eligible businesses can instantly write off multiple assets. If you are looking to purchase an asset for…
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AUSkey is due to retire next year. It will be replaced by: myGovID – a way to prove who you are online as an individual, and for your practice Relationship Authorisation Manager (RAM) – lets you manage who can act on behalf of your practice. You will be able to use Access Manager from within…
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From 1 July 2019, businesses can only claim deductions for payments made to workers where they’ve met the pay as you go (PAYG) withholding obligation for that payment. Read on for changes to deductions for non-compliant payments. Where the PAYG withholding rules require an amount to be withheld, businesses must: • withhold the amount from…
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