There is a staggering 800,000 Australian fixed rate home loans coming due during the 2023 year, that’s right 800,000. That means 800,000 mortgage holders having to make a decision whether to re-fix or allow their loan to convert to variable. Either way it is going to involve a significant increase in the cost of an…
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Pay as you go (PAYG) instalments allow you to make regular prepayments of tax on your business and investment income throughout the financial year. Paying the right PAYG instalments can help you maintain a healthy cash flow and avoid a large tax bill when you lodge your tax return. If you think your current PAYG instalments…
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Pay as you go (PAYG) instalments allow you to make regular prepayments of tax on your business and investment income throughout the financial year. Paying the right PAYG instalments can help you manage a healthy cash flow and avoid a large tax bill when you lodge your tax return. If you think your current PAYG instalments…
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We’re here to provide you with information to help you identify concessions you might be eligible for. There are many types of concessions available. The ones you can qualify for will depend on factors such as your company structure, the industry you’re in and your annual turnover. There’s lots to know about small business concessions; but…
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There are echoes of the past as rising inflation and interest rates threaten to push Australia and other developed economies into recession, but what is recession, exactly? How can inflation and interest rates interact to trigger a recession? Former Australian prime minister and treasurer Paul Keating infamously stated in 1990, following the release of data…
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Good cyber security is closer and easier than you think. Here are 4 easy steps you can take right now that can help make your business security stronger. 1. Get your passwords in shape How? You can use a Password Manager to set and save passwords. Also consider switching from passwords to passphrases, which are…
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Small businesses have replaced COVID-19 stimulus and support programs with non-bank funding to help them ride out the economic downturn. According to the latest round of ScotPac’s biannual SMW Growth report, around one in five SMEs plan to divest or merge operations and a quarter added non-bank funding facilities in 2022 — more than double…
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Check or report an ATO impersonation scam and get to know some warning signs of phone, email and SMS tax scams. Verify a scam Scams trick you into paying money or giving out your personal information. Scammers often pretend to be from trusted organisations like the ATO. We will sometimes contact you by phone, email,…
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You may have received a business support grant recently to help your business through tough times. Remember, when it comes to tax time, it’s important to check if you need to include the payment in your assessable income. Grants are generally treated as assessable income. However, some grants are formally declared non-assessable non-exempt (NANE) income.…
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When running your self-managed super fund (SMSF) it’s important to know that accessing your super can be illegal at times. You should also be wary of people, known as ‘promoters’ who want to help you set up an SMSF for the purpose of illegally accessing your super. As a trustee of a SMSF it is…
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