Between Covid restrictions, a downturn in income, government payouts, and tax breaks, we understand if your head is spinning as the financial year wraps up. That’s why we’ve done a round-up of relevant tax information you may have missed, so you can make sure everything is in order and there are no surprises come 31 …
Measures to help support businesses adversely affected by COVID-19 were introduced in waves. Over time, some measures were changed or added to. We put together this update to clarify where we’re up to with all of them. Let us know if you’re worried about not being able to pay your tax on time, if your …
Businesses struggling with revenue during the Omicron outbreak can apply for new targeted funding, as announced by the government on Monday 21st February. Applications for the first payment open on February 28, with payments starting from March 1. There will be 3 payments in total, available on a fortnightly basis. The new scheme is based …
New financial support for businesses affected by Omicron Read More »
Changes have been made to the Small Business Cashflow Loans Scheme to increase the amount of funding available to eligible businesses through the introduction of a ‘top up’ loan. The top up loan will allow those firms that have already accessed a loan to draw down an additional $10,000 with a new repayment period of …
We see many business owners, who work tirelessly in their businesses and are excellent at what they do, neglect their strategy and execution plans. It’s the old adage: I’m too business working in my business to work on it. Whilst we’re here to support you when unexpected hiccups occur, we can do so more …
It can come as a surprise to find out that the income tax and GST treatment of mealexpenses for self-employed people differs from that of meal allowances paid toemployees. And it’s different again under the entertainment expenditure rules. If you’re self-employed you usually cannot deduct meal expenses as they aredeemed private or domestic expenses, although …
Happy Christmas everyone, And a big thank you for your custom over the last year. The team has enjoyed working with you to enable you to achieve your goals. We are looking forward to continuing to do so in the New Year. I think we all agree that it has been trying year and I …
If you run your business as a company, and you make a vehicle available to an employee to use privately, you’ll be liable to pay fringe benefit tax (FBT). This applies on vehicles made available to: 1. employees (and their associated persons), and2. shareholder-employees This applies whether the vehicle is actually used for …
Motor vehicle business use and FBT for companies Read More »
‘Tis the season for saying thanks to customers and staff, typically with gifts, wining, and dining. Refresh yourself on what the tax rules are if you plan on claiming the expenses. Examples of where entertainment expenses are 50% deductible include: • Taking customers, suppliers, and associates out for dinner or putting on a function for …
Let us entertain you (but be aware of the tax treatment) Read More »
As your accountant, we want to work with you on an ongoing basis as your trusted adviser, rather than just focusing on last year’s numbers. So that you’re comfortable contacting us, we don’t charge for quick queries. Our Quick Queries service helps unlock opportunities for tax savings and prevents you making mistakes that may …