There are many elements to take into account before deciding to start or buy a business. Here are 4 things to consider before starting your own business.
4 things to consider before starting your own business
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Business
Superannuation Guarantee treatment for leave loading
The ATO notes that there have been some issues in determining whether annual leave loading should be included as OTE and thus subject to SG.
Instant Asset Write-Off Extended to $30,000
If you are looking to purchase an asset for your business, the Instant Asset Write-Off has now been extended to $30,000, advantageous for small and medium businesses.
AUSkey is due to retire next year
AUSkey is due to retire next year and it will be replaced by MyGovID (for individuals) and Relationship Authorisation Manager (RAM) for your practice.
Changes to Deductions For Non-Compliant Payments
Businesses can only claim payments made to workers where they’ve met the PAYGW obligations. Read on for changes to deductions for non-compliant payments.