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Company Tax

Fuel Price Rises and How They Can be a Tax Benefit

The increase in fuel prices have definitely had a negative reaction from most people. Taking the positives from everything, this could be a chance to increase your motor vehicle expenses to reduce your taxable income. Here’s how: From 1 July 2022, the cents per kilometre rate increases to 75c per kilometre of work related travel.…

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Why accounting software’s benefit your business!

Accounting softwares are daunting to begin with, but can prove to be very useful for simplifying the admin of your business. While they are not for everyone, here are a few reasons why your business should move onto an online accounting software: STP is compulsory for all employers – as Single Touch Payroll (STP) is…

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Instant Asset Write Off Extended

The recent budget lead to the extension of the instant asset write off (also known as temporary full expensing) until 30th of June 2023. Here are some things you should be aware of when thinking about purchasing a new asset: There are limits for the amount you can claim when you purchase a car –…

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The NSW Small Business Support Packages Have Updated!

The NSW Government has announced another round of support packages in relation to the current pandemic.   As always, there are certain conditions that have to be met. These conditions are: You must have an aggregated annual turnover between $75,000 and $50 million (inclusive) for the year ended 30 June 2021; and You must have…

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