Have you hired an employee or a contractor?

Hiring an independent contractor may seem like a simpler method than hiring a full-time or part-time employee for a business. Or is it? This is because there is a general assumption that, if hiring an independent contractor, they will not be responsible for PAYG withholding, superannuation guarantee payments, payroll tax and workers' compensation obligations. [...]

2022-05-12T15:53:05+10:00May 4th, 2022|Business Update|

SME MATTERS: A boost for tackling skills shortages

Have you been thinking about hiring an apprentice for your business? Looking to upskill your employees? Thinking about the ways that you could improve your business’s capabilities? The recent Federal Budget 2022-23 announcements committed support to mitigate the long-standing impacts of the pandemic on businesses and their workforces. If skill shortages, a lack of [...]

2022-05-12T15:56:57+10:00May 4th, 2022|Business Update|

BUSINESS UPDATE: Are you a director and have your DIN?

As a director of an Australian business, you are required provide your individual Director Identification Number (DIN) in every directorship registration, current and future. Your DIN is unique and used instead of your personal details on public registers. It also allows businesses, communities and government agencies to register, verify and track the corporate history [...]

2022-04-07T15:44:50+10:00March 16th, 2022|Business Update|

BUSINESS UPDATE: Is your R&D incentive application ready?

Your 2021 FY application deadline for the R&D tax incentive is approaching. If your innovation and development expenditure during the tax year ended 30 June 2021 meets the eligibility criteria under the Government’s R&D Tax Incentive, your commitment to advancement can be rewarded with lower tax payable or obtaining cash refunds. Submit your application [...]

2022-04-07T13:37:56+10:00March 10th, 2022|Business Update|

Being a SMSF Trustee: Greater control comes greater responsibility

Involvement in an SMSF can put certain responsibilities in their trustees hands, and those who overlook important details or find themselves reported to the ATO for failing to fulfil those responsibilities may risk incurring financial, civil or criminal penalties. As SMSFs often involve multiple members, the risk of non-compliance grows. You might [...]

2022-02-11T15:04:33+11:00February 11th, 2022|Business Update|
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