Last night was the Federal Budget announcements, our friends at Tax Nuggets have compiled this summary of the 2024/25 budget items
which look to affect small businesses and individuals. Note that some of these changes are not yet law.
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In May each year, Aegis Business Services, through its audit insurance provider, Audit Shield, offer our clients, for whom we are the
nominated tax agent, to be covered by our audit insurance policy.
Read our blog to find out more about audit insurance and whether you should take up the offer. Our previous blog also includes two case
studies about a couple of recent ATO audits we’ve assisted our clients through.
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With the increase in ATO audit activity, we have put together a couple of case studies around recent audits we have helped our clients
through. Have a read on our blog.
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In both personal finances and business management, tax planning is a vital practice that goes beyond simply reducing tax bills. While
minimising taxes is important, tax planning involves a more holistic approach aimed at optimising financial efficiency and aligning with
long-term financial goals. Let's delve into what tax planning really entails and its broader implications:
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Are you considering claiming car expense deductions under the log book method against your employment or sole trader business income? Here
are some key requirements for this type of claim.
If your business buys or sells stock, you may need to do a stocktake for tax purposes. Understand how a stocktake can help your business and
how to do one.
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The Small Business Technology Investment Boost was only passed a few days ago so has not been considered in our tax planning estimates, if
this applies to you then WINNER!
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Each year, the ATO takes a closer look at various areas and focus their audit activity there. For the 2023 financial year, the ATO has
shared what its key focus areas are:
June is the perfect time to arrange a bookkeeper to clean up and overhaul your business' accounting file ready for your tax accountant to either do tax planning before the end of financial year, or be able to prepare your June quarter BAS and tax returns easily. Plus, by
organising a clean with a bookkeeper and paying the fee before the end of financial year, you can claim the fee as a tax deduction this
year!
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As the 2023 financial year comes to a close it is important to start thinking about your tax planning strategy. We have outlined some
simple steps to take that could potentially save money on your tax bill and ensure there are no hidden surprises.
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Last night was the Federal Budget announcements, our friends at Tax Nuggets have compiled this summary of the 2023 budget items which look to affect small businesses. Note that these are not yet law.
Read More…
Read our latest blog which introduces our “Demystifying Business” program in which we help you develop a business strategy
to improve your financial literacy and increase the business’ revenue and profit.
Brisbane City Council currently have a grant for businesses located in their LGA, which are 50% or more owned by women, that can assist you
to fund the first few months of this program. To match this grant, we have developed a three month “Begin the Demystification” package which
includes preparing the acquittal report at the conclusion of the grant funded program. Hurry though, the grant closes at 4pm AEST on
Thursday, 3 November.
Our friends at Phoenix Jara Grant Specialists can help you apply for this grant along with the quote from us.
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Last Wednesday night we held our popular Quarterly Quality Conversations client event at the Grandview Hotel in Cleveland. Our guest
speaker, Steve Sandor from Inspiring Business (https://inspiringbusiness.net/), talked us
through the various stages of owning a business and the emotions attached with them.
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You may have been led to be believe that Tori and Karen were on a junket at the Xero Conference in Sydney last week …. but believe you me
they were also learning & networking for the two day conference.
They have written a blog sharing some valuable learnings so and if any of these peak your interest please reach out to have a conversation
with one of them.
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As Australia starts to ease Covid-19 restrictions, with new cases decreasing everyday, new questions and expectations have now risen with
regards to working. So what now?
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We are still waiting for some of the finer details to be released from the ATO, however the broad rules have been released. As always
please feel free to contact us if you would like any clarity around your current situation.
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The Government is extending the JobKeeper Payment by a further six months to March 2021. Support will be targeted to businesses and
not-for-profits that continue to be significantly impacted by the Coronavirus. The payment rate will be reduced and a lower payment rate
will be introduced for those who work fewer hours. Other eligibility rules remain unchanged.
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Released this week - Small Business Adaption Grant Program - up to $10 000.The objective of this program is to
support small
businesses subject to closure or highly impacted by the coronavirus (COVID-19) shutdown restrictions announced by the Queensland Government,
to adapt and sustain their operations, and build resilience.Read More…