GPG Business Advisory Blog
This article summarises the key opportunities in the 2022 Budget, for our Small Business clients. $120 deduction for every $100 spent on technology The Government intends to provide a 120% tax deduction for expenditure incurred by small businesses on business expenses and depreciating assets that support their digital adoption, such as portable payment devices, cyber
The Fringe Benefits Tax (FBT) year ends on 31 March. We’ve outlined the hot spots for employers and employees. Motor Vehicle problem areas Just because your business buys a motor vehicle and it is used almost exclusively as a work vehicle, that alone does not mean that the car is exempt from FBT. If you
From 1 November 2021, Australian Company Directors are required by law to verify their identity with the Australian Business Registry Service (“the ABRS”) and obtain a director identification number (a “Director ID”). How Director ID works? A Director ID is a 15-digit identifier given to a director (or someone who intends to become a director)
A stapled super fund is an existing super account linked, or ‘stapled’, to an employee so it follows them as they change jobs.
A business budget is one of the essential tools in managing your business finances and actively building your business. A budget shows what you plan to do with your cash over the next year. In the current every changing business landscape we consider this to be an essential tool for all our business clients, no
Job Keeper extended until March 2021 The government has announced changes to the Job Keeper payment scheme, which will see it continue until March 2021. The current system will remain unchanged until 27 September 2020 as planned, providing $1,500 per fortnight for employees and eligible business participants. However, from 28 September the changes will apply.