If you receive Child Care Subsidy and Family Tax Benefit payments from Services Australia, you must lodge your 2019–20 Individual tax returns by 30 June 2021. Lodgment deferrals with the ATO do not alter this requirement. If you are entitled to the Family Tax Benefit but didn’t receive any payments in the 2019–20 financial
In the lead-up to 30 June 2021, we want you to be aware that you need to complete your trust distribution resolutions before 30 June. Why? To avoid paying extra tax of up to 47% of Trust profits. How can this happen? If a Trustee of a Trust fails to make a resolution to
Projecting your cashflow pipeline forwards during a crisis is vital. To be able to navigate the future path of your cashflow, you need to start forecasting – so you can map out your financial position over the coming months and can take the appropriate action to safeguard your cash position. Plus, when you have
The Federal Budget 2021-22 has many announcements and proposals aimed at economic recovery and includes investment in jobs, essential services, business incentives and tax cuts. Budget Highlights for Business Temporary full expensing measures extended until 30 June 2023 – eligible businesses can claim an immediate deduction for the total cost of depreciating assets. Temporary loss
With the end of financial year approaching quickly, NOW is the time to discuss with us the actions you can take before 30 June 2021 to reduce your tax and grow your wealth. Many business owners have reduced their 2021 PAYG installments to Nil during the COVID-19 period, but with JobKeeper payments you may
On 23rd February 2021 Element Business and Accounting Solutions hosted a complimentary webinar where we talked about Seven Ways to Grow Your Business. We covered the key areas in your business that you can influence and the strategies you can adopt to achieve growth and improvement. Understand how to map a clear path to
Do you have companies and trusts in your family/business group structure? If so, please read on for very important information that you need to know and action now. The start of a brand new year is always a great time to review and take stock of where you are at and where you are
I devour books for breakfast. No really! Anyone that knows me well, knows that I LOVE books. I’ve had my nose stuck in books from the moment I learned how to read. The fountain of knowledge, the adventures, the emotions and thrills, the insights of authors contained within the pages of every new book
JobKeeper 1.0, JobKeeper 2.0, extensions, declaration dates, and ATO online forms…. it’s confusing, isn’t it?! Don’t worry, we have broken it down step by step with key actions to take so you know EXACTLY what to do next. We are now at the beginning of January 2021. JobKeeper 1.0 is now finalised and
