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It has been extremely difficult for many business owners to keep their business afloat amid the COVID-19 crisis. Throwing a lifeline to small businesses, the government has overhauled insolvency laws to save thousands of jobs and companies on the verge of collapse. What Are The Changes? From the current ‘creditor-in-possession’ regime, Australia’s insolvency laws will shift to a ‘debtor-in-possession system’. Entities with liabilities below $1 million will be able to…  Read more

The Federal Budget was released on Tuesday 6th October. This article has a good summary of the “Winners and Losers” of the Budget. You’ll also find a recap of the key points below. Key Points: This budget is based on economic assumptions including that there will be a COVID-19 vaccine rolled out by the end of 2021. Tax cuts for workers – more money in pockets for more Australians. JobMaker…  Read more

It’s hard to escape the news of the Coronavirus as it continues to have a huge impact on people across the world. Closer to home, the Morrison Government has announced a stimulus package in response to the anticipated economic downturn. This package includes a number of economic stimulus measures, with most of targeted at helping small to medium-sized businesses. Here to help But first, please be assured that Love your…  Read more

The Single Touch Payroll deadline is here! If you have employees you need to be ready for Single Touch Payroll! You’ve probably heard about Single Touch Payroll by now. It’s a pretty big deal for any business that has employees. So…what do you need to know and how does it affect you? Hint: Contact us! Keep reading to find out more. What is Single Touch Payroll? Single Touch Payroll (STP)…  Read more

Do you have employees? Then you need to get ready for Single Touch Payroll! By now you may have heard the buzz around Single Touch Payroll. It’s a pretty big deal for any business that has employees. So…what do you need to know and how does it affect you? Keep reading to find out. What is Single Touch Payroll? Single Touch Payroll (STP) is a new way to do your…  Read more

If you’re are a small business owner with close to 20 staff then this Sunday you’ll be counting heads not eggs to see if you will be designated as a substantial employer and captured in the mandatory reporting of Single Touch Payroll (STP) commencing on 1 July this year.  Happy Easter! April Fools Day Joke? Well, it’s no joke although I must say someone at the ATO has a quirky…  Read more