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Are you a Company Director? You’ll need a Director Identification Number! The government has initiated a new system that attaches a unique identifying number to an individual who is a company director. If you are a company director you will need a director identification number by November 2022. You can apply for a director ID from November 2021.   What is a Director Identification Number?   A director has one number permanently attached to them, and this is used for identification purposes for any or

With government revenue authorities increasingly using data matching, artificial intelligence and even social media, they are able to compare disclosures made in your lodged tax returns to those of other taxpayers or benchmarks. If a data matching check escalates to an official inquiry, investigation, review or audit, our costs in defending your position can accumulate quickly, regardless of whether any adjustments are made to your returns or not. Our Audit Shield service covers those costs (up to predetermined limits).   Audit Shield

COVID 19 has placed enormous amounts of pressure on businesses across Australia. With the recent July 2021 lockdowns occurring in South Australia, the Government has released the ‘COVID 19 Business Support Grant’ to assist effected businesses.   The Business Support Grant is to assist those businesses who have been affected by the 7-day lockdown in July, which includes a one-off payment of $3,000.00 for businesses who employ, or $1,000.00 for businesses who do not employ.   In order to be eligible for the COVID

Casual Employment New Rules from March 2021 The Fair Work Act 2009 has been amended to enforce several new rules for employing casual workers. The Act includes a statutory definition of casual employment, a pathway for casual employees to become permanent, and a Casual Employment Information Statement (CEIS).   Definition of Casual Employee A casual worker does not have an agreed pattern of work or an advance commitment to ongoing work from the employer. Therefore, there is no consistent or guaranteed work schedule, and the

If you are a business registered with Return To Work SA (RTWSA), you will need to provide an employer remuneration return no later than the 15th September 2021.   The employer remuneration return allows RTWSA to accurately calculate your insurance premium for the coming year. Should this form not be submitted by the due date listed above, the insurance premium can be calculated at an incorrect rate and you may find you receive a signification bill or refund at the end

Tax Tips for Individuals Although your tax return is not due yet, the end of the financial year is near. Get ahead now by preparing all the documents required for your 2021 tax return so you can get your tax done quickly and get any refund due to you in your bank!   Income The Australian Taxation Office (ATO) automatically receives information from your employers about salary and wages that you have been paid for the financial year. You need to declare all income

With the popularity of crypto currency in todays market it is important to ensure you’re correctly declaring the capital gains and losses in your tax return relating to your cryptocurrency disposals.   The ATO have summarised the below information relating to cryptocurrency and tax returns.    Tax-smart tips for your cryptocurrency investment If you exchanged cryptocurrency for goods, cash or other cryptocurrencies then this is normally considered a disposal for the purposes of capital gains tax and you may need to include a capital gain

More than fifty percent of Business Owners are over 50 and all asking the same question. How do I start working less without losing clients or income? This is a massive issue for Business Owners at large because our common issues are… We work too long We are not earning enough Our people can’t or don’t want to take over from our positions/roles DEMOTIVATORS ARE IMPORTANT TO UNDERSTAND: From experience, many business owners are flat out and not necessarily thoroughly enjoying themselves. However, some of us are

In today’s time scared society, the ever increasing trend is to “go to a specialist”. Niche specialisations are cropping up on every corner with the primary purpose of making our lives “easier”. The same concept applies to “getting your financial house in order”. As your accountants, our expertise is fundamentally different to yours. We have dedicated our lives to mastering “Financial Literacy” and therefore, our knowledge can be a value resource for you to tap for much more than just a

Having networked and established strong relationships with numerous client organisations, the biggest frustration hands down is… attracting better people. The vast majority of Business Owners, all adept in their own profession, me us identified skills gap is with communication, people and leadership skills. But that doesn’t mean Small business owners should write off the idea of building a high-quality team, far from it. There are countless current examples we can case study to evidence that it is possible and even