Keeping on top of due dates can help you keep your business running smoothly. Take note of the most important financial dates for 2022 to plan for the year ahead and avoid any unnecessary penalties. End of Financial Year (EOFY) The end of the financial year is an important time for your small business. The last day of the financial …
From 1 November 2021, all company Directors must apply for a Director Identification Number (Director ID) You can find all the details about the requirements at: Australian Business Registry Services ABRS Website When to apply Existing directors must apply before 30 November 2022 If you don’t meet your obligations there may be civil or criminal penalties and you may be …
The COVID-19 Business Support Grant provides Queensland businesses with funding to help them survive and recover from August 2021 lockdowns. Closing date: 16 Nov 2021. What can small businesses get? Initial funding of $5,000 plus a one-off top up payment of $5,000 making a total of $10,000 What are the eligibility criteria? To be eligible, you must: 1. Employ staff (employees …
As a small business owner, you’ve likely heard about Single Touch Payroll (STP) by now. For nearly two and a half years, the ATO initiative has helped Australia’s small businesses digitally report payroll, including salaries, wages, PAYG withholding tax and superannuation information. Most employers are already using STP however, with the ATO rolling the initiative out in stages, some businesses …
Attention Employers: The Superannuation Guarantee rate increased from 9.5% to 10% on 1 July 2021. It is scheduled to increase to 12% by 2025. If you are a Small Business Owner that needs help with your Payroll, PAYGW Tax and Super obligations, Beck Partners can help you. Find Out More Find out more about Beck Partners , Who We Are and What We Do at our …
The Fair Work Ombudsman is reminding employers that the national minimum wage has increased to $20.33 per hour or $772.60 per week (up from $19.84 and $753.80). Employees covered by awards will also have base rates increased by 2.5%, however, these increases to award wages begin on different dates for different groups of awards. Find Out More Find out more about Beck Partners , Who …
Business expenses you can claim as a tax deduction You can claim most of the expenses involved in running your business as a tax deduction Just make sure: They relate directly to earning your income The expense was for your business, not for private use If the expense is for a mix of business and private use, you only claim …
Good News! – The small business Company Tax rate has reduced to 26% for the 2020/21 tax year. Beck Partners – Chartered Accountants are your Small Business Accounting and Tax Specialists on the Gold Coast. Contact us today for the practical advice and assistance you have been looking for. Find Out More Find out more about Beck Partners , Who We Are and What We …
Everyone wants to increase their tax refund (or reduce their tax payable). Beck Partners are here to help you to do this! Tax saving strategies generally involve you spending money on “something” which creates for you a tax deduction. The “something” you spend your money on could be an expense, an asset, or an investment related payment (like superannuation or …
“ Of course, I am minimising my tax. Anybody in this country who does not minimise his tax wants his head read. I can tell you as a government that you are not spending it so well that we should be donating extra. “ – Kerry Packer If you agree with K.P. here are some simple strategies you can use …
