Are you a small business owner looking to increase your revenues and profits? Have you ever thought about how an accountant can help you save and make money for your business? As a business owner, you know that it’s important to keep track of all the income and expenses associated with running your business. But
What is HubDoc? HubDoc is a cloud-based platform and the ultimate time-saver, simplifying the often-cumbersome task of document collection and organisation. Think of it as your virtual personal assistant. The perks are endless: automatic fetching of financial documents, intelligent categorisation, and secure storage. Not to mention, it integrates easily with accounting software programs like Xero
Changes are coming to the way superannuation is paid to employees. Starting from July 1, 2026, you will need to pay your employees’ super at the same time as their salary and wages. WHAT YOU NEED TO KNOW The way superannuation is paid to employees is changing, with the Australian government implementing new regulations. Starting
The government proposes a 30% tax on high super balances, as announced on February 28, 2023. Starting from July 1, 2025, any superannuation balances above $3 million will be subject to a concessional tax rate of 30% on future earnings. It’s important to note that this proposal has not yet been enacted into law. This
As you approach retirement, it’s wise to consider putting extra money to boost your Super this 2023 with the bring-forward rule. If you happen to receive an inheritance or sell an asset, the same applies. By doing so, not only will you give your retirement savings a boost, but you’ll also benefit from tax-free income
An update on work test removal has provided new opportunities for those approaching retirement. Starting from 1 July 2022, individuals aged between 67 and 74 won’t have to satisfy the work test to make or receive non-concessional or salary-sacrificed contributions to their superannuation. The announcement made in the Federal Budget on 11 May 2021, regarding
Re-contributing COVID-19 Early Release Super Amounts is a complex process but a great way to grow your super funds. Many individuals have been impacted financially by the COVID-19 pandemic, leading to changes in money management. To provide relief during this crisis, the government opened access to superannuation funds under its Compassionate Grounds through the COVID-19
If you own a heavy vehicle, you can apply for fuel tax credits to help with the cost of eligible fuels used. We understand that running a business takes hard work, and savings do matter. With the periodic lodgement of fuel tax credits to the Australian Tax Office (ATO), there’s a chance for some extra
Early access to super savings, for some individuals, is the way to go. This may be necessary before retirement due to financial hardship or other unforeseen circumstances. Superannuation is a vital component of retirement planning in Australia, with millions relying on their superannuation savings to support them in their golden years. As we move into
An updated super registration process will remove the ability to add the Self-Managed Super Funds (SMSFs) bank account details to online and paper applications for an ABN registration for SMSF to protect the savings of SMSF members. New SMSFs are now required to provide the Australian Taxation Office (ATO) with bank details after registration through: