We often get questions from clients about what they can and cannot do in their SMSF, often to do with related party transactions – that is, interactions between the SMSF, its assets, and its members (or relatives of members). Here are some of the common questions and answers. We often get questions from clients about …
Your SMSF: Questions & answers on expenses & investments Read More »
Fringe benefits tax (FBT) is one of Australia’s most disliked taxes because it’s cumbersome and generates a lot of paperwork. The COVID-19 lockdowns have added another layer of complexity as many work patterns and behaviours changed. A fringe benefit is a ‘payment’ to an employee or an associate (an associate is someone related to you …
The impact of COVID-19 has been felt very differently from region to region. Fortunes vary wildly between business operators subject to ongoing lockdowns and trading impediments to those benefiting from the “new normal”. For those severely impacted by COVID-19, JobKeeper might be available. The third and final phase of JobKeeper started on 4 January and …
CLICK HERE to read the Acumon Connect February 2021 Newsletter In this issue: – 2021 Opportunities– 2021 Risks– Benefits Of Going Digital– Financial Planning Advice
Stimulating investment is high on the Government’s agenda. To encourage spending, the 2020-21 Budget introduced a measure that allows businesses with turnover under $5bn* to immediately deduct the cost of new depreciable assets and the cost of improvements to existing assets in the first year of use. This means that an asset’s cost will be …
We’ve had quite a few questions about the JobMaker hiring credit announced in the 2020-21 Federal Budget. The legislation enabling the JobMaker scheme has not passed Parliament as yet and until this occurs, the JobMaker rules are not certain and may change. More details should be available soon and we’ll let you know as soon …
The Government has stepped in to prevent a wave of insolvencies when the COVID-19 support measures run their course in December 2020. Temporary insolvency and bankruptcy protections are in place until 31 December 2020 to enable businesses to trade through the pandemic. The measures provide: A temporary increase in the threshold at which creditors can …
If you are selling your business, merging, acquiring, or inviting in new investors, you need to understand the value of your business. But, to what degree does the pandemic impact on value? Should you discount or hold firm to pre COVID-19 performance on the basis that ‘we’re going to come out of it eventually’? Fair …
CLICK HERE to read the Acumon Connect Spring 2020 Newsletter In this issue: – Expert Advice– Q&A: Grants & Tax– Jason’s Juicy Burgers– Financial Planning Advice
Now, more than ever, business operators should have a plan in place to manage during uncertain times. Even if your business is not directly impacted, it’s likely your customers, your supply chain, and your workforce will be to some extent. So, how do you plan for uncertainty when every assumption is subject to change? Understand …