The ATO is increasing their focus on collecting more tax, as the Government is spending more money. With the new programs for COVID19, the ATO is using this as an opportunity to increase its activity, particularly on COVID19 programs.
Interest Rate on Loans – To Fix or not to Fix?
With the ongoing uncertainty in the economy and markets due to COVID19, there has been a lot happening with banks, loans and interest rates such as: Repayment holidays on loans; and The lowest interest rates we have seen We have assisted a number of clients to decide...
Increase in Minimum Wages commencing 1 July 2020: What to watch out for in your business for payroll
Now that you have finalised your End of Financial Year for 2020, the new financial year begins. The Fair Work Commission has just announced a 1.75% increase to minimum wages for all Award wages under the national workplace relations system, for the coming 2021...
AAG Tax Health Check – For Businesses for 30 June 2020 – Part 3
TAX YEAR END – 30 JUNE 2020 The third and final article in our series on Tax Health Check for Businesses covers Tax Deductions. Tax Strategies to Preserve Your Tax Deductions TAX ITEM EXPLANATION AAG TEAM Prepayments – Immediate...
AAG Tax Health Check – For Businesses for 30 June 2020 – Part 2
TAX YEAR END – 30 JUNE 2020 The next article in our series on Tax Health Check for Businesses covers Plant and Equipment strategies. TAX STRATEGIES PART 2: PLANT AND EQUIPMENT REVIEW TAX ITEM EXPLANATION AAG TEAM Plant and Equipment...
Vehicles and The Instant Asset Write-Off
The Australian Government recently announced that the Instant Asset Write-Off (IAWO) has been extended to 31 December 2020 for asset purchases below $150,000. The requirement to finalise purchases before 30 June 2020 is not as urgent now because if you miss this date,...