A Director Identification number (Director ID) is a unique 15-digit identifier you will keep forever. It will help to prevent the use of false or fraudulent director identities. Directors need to apply for their own director ID. It’s free to apply. Existing Directors need to apply for their Director ID by 30 November 2022.
At Element, our focus is helping small businesses grow and succeed. As Dwayne “The Rock” Johnson says: “Success isn’t overnight. It’s when every day you get a little better than the day before. It all adds up.” And as numbers people (although we really are much more than that), we can assure you that it
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
You don’t have to be an accountant or bookkeeper to understand your numbers, just as you don’t have to be a mechanic to drive a car. Having an overall understanding of your financial reports puts you in a far stronger position to make better decisions. On 23rd March Tuesday, Element Business and Accounting Solutions
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