GPG Business Advisory Blog

covid-19-business-planning

COVID-19 BUSINESS PLANNING

With so much uncertaintinty for all businesses due to COVID-19 for the coming year, its more vital than ever to have forward plans, a clear perspective on your cashflow and up to date financials, so you can be proactive rather than reactive in your decision making.  The button below links to  a short publication from

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EARLY-RELEASE-OF-SUPERANNUATION-COVID-19

COVID-19 EARLY RELEASE OF SUPERANNUATION

The stimulus legislation amends the SIS Regulations and RSA Regulations to allow individuals affected by Coronavirus to have up to $10,000 released from their superannuation or retirement savings account on compassionate grounds. Each person is permitted to have up to two releases – one for an application made during the 2019-20 financial year and another

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booster cash flow for employers

BOOSTING CASH FLOW FOR EMPLOYERS

The cash flow boost provides for payments to support employers by boosting their cash flow. Another intention with this measure is to encourage the retention of employees through any follow-on downturn. Undoubtedly, this part of the stimulus package is the most confusing. Before explaining the detail, here are a number of statements about this part

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SMALL BUSINESS INSTANT ASSET WRITE OFF

SMALL BUSINESS INSTANT ASSET WRITE OFF

What does the Government announcement of the increased instant asset write off mean for the cash flow of your business? Let’s take a look at the summary of the concession and a practical example to explain the cash flow effect. Threshold Summary From 7.30pm 2 April 2019 (budget night) Small Businesses with turnover of less

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motor vehicle logbook

MOTOR VEHICLE LOGBOOKS

Generally speaking, if you estimate that you have a fair amount of business or work-related business use of a motor vehicle (say more than 30% as a rule of thumb), it will be in your best interest to keep a logbook to claim tax deductions for motor vehicle expenses (unless an exception applies as outlined

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