Advivo’s Tax Accountants share their insights on what your tax planning should consider this financial year. With the ongoing pandemic and the devastating weather events, the 2022 financial year has undoubtedly been a challenging year for many businesses and their owners. Now more than ever, when it comes to 30 June, we recommend you speak…
Chris Morris explains Small Business Tax Concessions and how Advivo’s specialist tax advice could help you save money during your business’ key taxing points. There are several key taxing points throughout the business lifecycle where the amount of tax you can end up paying is highly dependent on the specialist tax advice you receive and…
2022-2023 Federal Budget Update Last night, Federal Treasurer Josh Frydenburg delivered the 2022-2023 budget. Amidst a mountain of government debt incurred over the past few years due to COVID, and in an environment of inflationary pressures, rising bond yields, wages pressure and interest rate pressure, it appears to be a financially responsible budget. It is…
Advivo Partner, Dale Edwards, explains the areas where tax can occur during the sale of your business When people hear about the Small Business Capital Gains Tax Concessions, they often assume that when they sell their business that there will be no tax. Whilst in some instances that is the case, it is more usual…
Advivo Business Advisors and Accountants share some strategies you can use to reduce your FBT Fringe benefits tax (FBT) is separate from income tax and is imposed only on employers. It is applied to the value of non-cash benefits provided by an employer that are paid in place of wages or salary to an…
2021-2022 Federal Budget Update Welcome to Advivo’s summary of what we believe are the most relevant points for businesses from the 2021-2022 Federal Budget announced last night. Josh Frydenburg has delivered a ‘Pandemic’ Budget focused on job creation, infrastructure, women’s rights and protection & equality and health issues including aged care, NDIS, mental health and…
Advivo Business Advisors and Accountants, share insights on the benefits of JobMaker for small businesses. The JobMaker Hiring Credit was designed to help accelerate growth in employment of young people during the COVID-19 recovery, helping them access job opportunities as the economy recovers. The government designed the Jobmaker scheme to encourage businesses to employ additional…
The JobKeeper scheme which has been in place since 30 March 2020, ended on 28 March 2021. How does the end of JobKeeper impact my business? On and from 29 March 2021: JobKeeper employee wage subsidies will cease, and qualifying and legacy employers will generally be unable to change their employees’ work hours, usual duties…
Enrolments for JobKeeper Extension 2 close 31 January 2021. Eligibility for JobKeeper Extension 2 (with pay periods commencing from 4 January) is based on Employers meeting the turnover test for their most recent turnover period. This is a different period from what was used for JobKeeper Extension 1 and therefore it is essential for employers…
2020 – 2021 Federal Budget – ‘The Road to Recovery’ Welcome to Advivo’s summary of what we believe are the most relevant points for businesses from the 2020 – 2021 Federal Budget announced last night, unusually in October rather than May, reflecting an extraordinary year in Australia’s history. Treasurer, Josh Frydenburg has delivered a budget…