Business
More Support For Melbourne Businesses
Yesterday, the Victorian Government announced a new round of support for small and medium businesses most affected by the extension of public health restrictions in Melbourne. The new jointly funded Commonwealth and Victorian Government package includes automatic payments for previous recipients of the Business Costs Assistance Program Round Two and the Licensed Hospitality Venue Fund […]
Small Business-COVID Hardship Fund
The Small Business COVID Hardship Fund will help qualified little and medium organizations: Whose activities have been seriously affected by COVID-19 limitations that have been set up between 27 May 2021 and August 2021 Have experienced something like a 70% decrease in turnover because of the COVID-19 limitations Are ineligible for other key COVID-19 Victorian […]
WHAT IS A CAR FRINGE BENEFIT?
A car fringe benefit occurs when an employer provides a vehicle that they lease or own to an employee for their private use. In case you run your business under a trust or a company, you can qualify as an employee of that trust or company. An employer may avail a car for the private […]
Understanding FBT Rates
When it comes to taking clients out for a quick lunch to discuss key details, it is important to understand the fundamentals of a process such as this. It plays a big role in what you end up getting in terms of overall value from the relationship. There are specific details that need to be […]
FBT
There are some employers who unwittingly get into trouble with the FBT because they do not correctly interpret the infrequent and minor exemptions that are provided for all benefits of $300 or less. The main area of concern for these employers is when they get into trouble when applying for infrequent and minor exemptions in […]
Lodging an FBT Return
Fringe Benefit Tax (FBT) captures benefits enjoyed by employees but it is the employer that is levied in the end. Unless the agreement with the employer allows payable FBT to be recouped from the employee, the employer can’t be reimbursed. Why then would any employer want to lodge an FBT return if there […]
Economic Update and JobKeeper 2.0: What you need to know?
On 21 July 2020, the Government has announced the future of JobKeeper after reviewing its jobs during this COVID-19 situation. The two main important updates are: All the current JobKeeper schemes will remain until 27 September 2020, and JobKeeper payments will be extended by a further six months to 28 March 2021 with an […]
5 Steps Every Business Owner Must Do 12 Months Before Listing For Sale
Lan Nguyen, Director of Success Accounting Group discusses the 5 Steps Business Owners Must Do Before Listing a Sale. She is joined by Matthew Kenny and Maurice Wolman of All Commercial.
Gain an additional $4000 return in TAX or receive a FREE IPAD
With EOF Year upon us, what sort of emotion does this spark in you?Feeling that slight jitter in the stomach. Touch of anxiety. Restlessness.Do you put it off to the last minute, then spend a few days cramming to get it done?No one likes Tax. We then head in, speak to an Accountant , push out […]
The Secret Truth On How The Top 1% Achieve Their Goals
Today I felt inspired to write a small passage based on a vibrant consultation I held with one of my inner circle clients. My client Greg was having some real difficulties around goal setting. This is normally the first exercise I perform with my one-on-one clients to assist them in achieving financial independance.I asked […]