Business

Government Changes to Instant Asset Write-Off for 2022 & 2023 Financial Years

There have been a few changes made by the government in regards to Instant Asset Write Off for the 2022 and 2023 financial years. This is because there has been an extension made to the Federal Government’s Coronavirus Stimulus Package. It was here that the Instant Asset Write-Off threshold increased from $30,000 to $150,000 (net …

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The Big Wins for Small Businesses

Making COVID-19 Business Grants Non-Assessable Non-Exempt Income. The Government has extended the measures that enable payments from certain state and territory COVID-19 business support programs to be made non-assessable non-exempt income (‘NANE’) for income tax purpose. This applies to the following South Australian Grants. South Australia COVID-19 Tourism and Hospitality Support Grant. South Australia COVID-19 …

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Want to Invest in Cryptocurrency through your SMSF?

Key considerations before investing in Digital currency/cryptocurrency   Check your trust deed allows investment in digital currency (Cryptocurrency). Ensure the cryptocurrency is purchased in the name of the SMSF and not the name of the member – correct allocation in the wallet/storage system. Complete a review of your SMSF’s investment strategy to reflect the change …

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City Business Saver Grant!

Do you have a business in the CBD? Check out the City Business Saver Grant! The grant is available to businesses within the City of Adelaide that: employ between 1 to 20 employees; and occupy non-residential properties; and contribute between $0 to $15,000 in council rates annually for the space they occupy. Eligible businesses can apply …

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Carer’s Leave – Apology & Correction to Information Provided in our Previous Newsletter

On review of the National Employment Standards (NES) with regard to Carer’s Leave it seems there is no limit on the amount of accrued Personal Leave an employee can use as Carer’s Leave. We previously advised the limit was 3 days per year – this is old legislation. The corrected information to be aware of …

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ALERT! ALERT! ALERT!

Attention all MYOB users! It has become apparent that there has been a widespread glitch with bank feeds and MYOB. Some transactions are coming into bank feeds twice! This error is occurring during the period 1/12/21 to 6/12/21. MYOB is aware of the issue and has deployed a resolution to prevent this from happening again, …

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Grasp the Moment

Robin Williams was well thought of in many roles, but surely, none more enduring than that of John Keating the English Teacher, in the 1989 film ‘Dead Poet’s Society.’ One of the messages he was passing on to his students was ‘Carpe Diem’. ‘Seize the Day’. In today’s world, it is perhaps more appropriate to …

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