Back in 2019, the Federal Government passed a law to allow the Australian Taxation Office to start reporting tax debts to Credit Reporting Bodies. Thankfully this was put on hold in response to COVID-19. However, we are now being warned that the Australian Taxation Office is likely to resume its pursuit of unpaid tax debt. […]
With the wait times on new equipment being lengthy, in some cases up to 12 months; the secondhand market is booming. The market for secondhand equipment is competitive, many times goods are snatched up in just hours. Whilst this is great news for the vendor, it can be tricky for prospective buyers to navigate the […]
If you’re a small business owner, managing your business finances can be challenging, particularly if you don’t have much experience. Making small changes to your bookkeeping and taking advantage of a few handy tools can turn business accounting from a massive hassle to a walk in the park. Are you ready to get smart about […]
Depending on how COVID-19 has impacted you or your business, it might be more important than ever to know your credit score. The reason why your credit score is important is because it could influence how financiers and other credit providers (such as suppliers of goods or services) assess you as part of their credit […]
The instant asset write-off scheme allows eligible businesses to immediately write off, as an expense for tax purposes, new or second-hand asset purchases. For the period 12 March until 31st December 2020, the instant asset write-off has increased as follows: Threshold amount for each asset increased to $150,000 excluding GST (up from $30,000) Eligibility expanded […]