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Our Latest News

Landlord Hardship Fund

Landlord Hardship Fund

The NSW Government has released a Hardship Fund for landlords who have provided rent waivers for tenants. The grant is up to $3,000 per property, per month, per retail or commercial lease. It applies to landowners who: Have land holdings less than 5mil in total (as...

Rent relief for Retail and Commercial leases

Rent relief for Retail and Commercial leases

The NSW government has brought in compulsory rent relief for tenants who have been affected by COVID. This is evidenced by the fact the tenant is eligible for NSW Covid grant or Job Saver.  Please see an attached link which provides further detail as well as a...

JobSaver explained

JobSaver explained

As of yesterday, you can now apply through Services NSW for JobSaver.  The eligibility criteria is the same as the NSW covid grant. Essentially the grant covers you for 26 June – 17 July and then JobSaver replaces that and applies for the 18 July onwards. ...

NSW COVID assistance for small businesses

NSW COVID assistance for small businesses

Here we go again. Such a pain for everyone. In some cases, it's not just a pain but it's financially catastrophic. Businesses in the hospitality, retail, hair & beauty, and arts sectors are particularly hard hit.  With the construction industry now shut for at...

Compulsory Super (SGC) rising to 10% + MYOB & Xero requirements

Compulsory Super (SGC) rising to 10% + MYOB & Xero requirements

For payroll processed from the 1st July 2021 onwards, compulsory super guarantee charge (SGC) will be payable at 10% of wages. For super liability wages are called  “ordinary times earnings” (OTE). OTE is the amount you pay employees for their ordinary hours of work,...

Business Owners – Know your Numbers

Business Owners – Know your Numbers

So I’ll be direct and straight to the point here, to be successful and stay alive in this current environment, business owners must know the financial position and performance of their own business at all times. Just knowing your bank balance is not sufficient. You...

Budget – Tax cuts/Payroll + Unlimited Asset Write Off

Budget – Tax cuts/Payroll + Unlimited Asset Write Off

I believe the biggest two things to come out of the Budget are: 1. Personal Tax Cuts; and 2. Unlimited asset write off (fully expensing asset purchases) until June 2022 Personal tax cuts – these changes have already passed parliament. The 19% bracket which used to...

What is the best way to get my employee a car?

What is the best way to get my employee a car?

This is one of the most common questions we receive.  I will try and keep the answer as simple and as brief as possible. If the vehicle is a commercial vehicle, for example a ute, van or tradie dual cab that will legitimately be used a lot for work purposes, then we...

Closed 20th Dec – 12th Jan

Closed 20th Dec – 12th Jan

Wow it’s that time of year again! Our last day for the year will be next Thursday the 19th Dec, and we will re-open Monday 13th Jan. Thank you to all our clients and friends for their support during the year and we wish you all the best for the holidays. Warm regards...

Can I pay my child a wage from my business?

Can I pay my child a wage from my business?

If there is real work performed, and payment is at market rates, then the short answer is YES. Although minors under 18 can only earn $416 from investment income before being slugged with massive tax, they can however earn income for effort i.e. wages, without this...

Will you get an extra $1,080 in your tax return?

Will you get an extra $1,080 in your tax return?

We've had a lot of questions about the extra $1,080 being given to taxpayers for the 2019 FY. Is this applicable to me? Has this been included in my tax return? When will I receive it? This tax offset is called the Low and Middle Income Tax Offset (LMITO) and has been...

96% of Clients Extremely Satisfied or Very Satisfied

96% of Clients Extremely Satisfied or Very Satisfied

Our team were quite overwhelmed with the results of our customer satisfaction survey.  Thank you to all those who provided their feedback. It was an anonymous survey so we expected the feedback to be quite honest, and yes there were a few suggestions which we will...

Pay employee Super TODAY + end of year Payroll

Pay employee Super TODAY + end of year Payroll

Wherever possible, we suggest you pay all employee super TODAY, for this quarter or month (depending on what cycle you are on). Super is due by 21st of July anyway so you may as well pay it now and get the deduction this year. If your final pay run has already been...

3D’s Awesome New Artwork

3D’s Awesome New Artwork

We thought you might like to see some recent artwork we had carried out on our office here in Thirroul.3D all the way!

Asset Write Off Increased to 30K but Ceasing 30 June 2020

Asset Write Off Increased to 30K but Ceasing 30 June 2020

The budget proposal to allow assets under $30,000 (excl GST) to be written off immediately has passed both Houses of Parliament and is now in play as of 3rd April 2019 (subject to Royal Assent which should be a given). This applies to all small-medium sized businesses...

Top 5 Interview Questions for Job Candidates

Top 5 Interview Questions for Job Candidates

Hiring good people is one of the most challenging tasks in running a business. Here are the top 5 questions, in 3 different categories, to ask candidates according to seek.com. The top 5 motivational interview questions to ask candidates: Why are you interested in...

New Leave Entitlement for Family and Domestic Violence

New Leave Entitlement for Family and Domestic Violence

Family and domestic violence leave has now been added to the National Employment Standards, and applies to ALL employees in the Fair Work System from 12 December 2018. This new entitlement allows employees to access up to 5 days of UNPAID leave each year to do...

Providing Gifts to Clients, are they Deductible?

Providing Gifts to Clients, are they Deductible?

The short answer is, if the gift is classed as entertainment then NO, the expense is not tax deductible, however if the gift is not classified as entertainment, then YES it is tax deductible. Entertainment normally relates to immediate consumption of the item....

Do I need a Family Trust?

Do I need a Family Trust?

We often get asked Should I setup a family trust? Or, should my business trade in a family trust structure?  The short answer is that yes, family trusts are often an excellent structure in which to run a business or to invest. The main advantages of a trust are:...