While careful tax planning preparation is essential, most tax saving strategies must be completed before 30 June. The earlier we identify the issues, the more time you’ll have to consider your options, arrange your cashflow and put a plan in place for reducing or avoiding paying unnecessary tax. At P+Y, tax planning is among our…
Over the past few months, we’ve looked closely at the behaviour of business owners through the Coronavirus pandemic and the approaches they’ve taken to maintain viability through this particularly disruptive time. In our last article, we discussed ‘flight to safety’ and here we explore how other businesses are embracing a ‘time of opportunity’ approach in…
Major changes to casual employment laws mean that there are now casual conversion provisions under the National Employment Standards (NES) which came into effect from 27 September 2021. In addition employers must also ensure each casual employee has been given the Casual Employment Information Statement as soon as is practicable. What is ‘casual conversion’? The NES now…
From November 2021, company directors will need to verify their identity as part of a new director identification number (director ID) requirement. A director ID is a unique identifier that a director will apply for once and keep forever. This applies to directors if their organisation is a company, registered foreign company, registered Australian body or…
The last 18 months has been disruptive to say the least. Business owners who initially considered doing nothing in the belief Coronavirus would blow over quickly soon realised that approach wasn’t an option. Following the initial pause of the nation-wide lockdown in April 2020, businesses regrouped and what we have seen since is three distinct…
While careful tax planning preparation is important, the fact is, most tax saving mechanisms need to be implemented before 30 June. The earlier we identify the issues, the more time you have to explore the options, arrange your cashflow and implement a plan for reducing or avoiding paying unnecessary tax. We have created the P+Y Tax…
In this article we highlight the 10 tax planning measures we feel are the most relevant for 2020-21. Although these items apply to all businesses, those clients with businesses operating via a company structure, with a group turnover of less than $50 million, will have extra incentive to review their tax planning this year. The…
If you have hired new staff members from 7 October 2020 onwards, you may be eligible for JobMaker Hiring Credit.
From 1 January, 2021 changes came into effect that extend Super Choice to allow employees covered by a current enterprise bargaining agreement to choose their own super fund.
Changes to insolvency laws from January 2021 include reforms that introduce a new, simplified debt restructuring process. These measures apply to incorporated businesses with liabilities of less than $1 million – full details in this Treasury factsheet, please click to learn more. To ask any questions and discuss this matter further, please call us on…