Brad Ryan

With 30 June fast approaching these next few weeks will be your last opportunity to get your tax in order for 2022. Superannuation Rules – Catch Up Contribution Rules With effect from 1 July 2019 superannuation fund members with a balance of less than $500,000 (on 30 June of the previous financial year) can make …

End of Year Tax Planning Tips – Individuals Read More »

The Federal Government has now passed legislation giving effect to the following changes to the superannuation rules and temporary full expensing of business assets rules. Superannuation Guarantee removal of monthly threshold The $450 monthly wage threshold has been removed, meaning that all employees (workers) are entitled to be paid superannuation regardless of how much they …

Superannuation Changes & Full Expensing of Assets Read More »

The Australian Taxation Office has recently issued a draft taxation ruling (TR 2022/D1) and a practical compliance guide (PCG 2022/D1), outlining its view of the operation on the income tax laws with respect to trust distributions. The draft ruling explains how the Tax Office will seek to apply Section 100A of the Income Tax Assessment …

ATO Targets Trust Distributions Read More »

The Queensland Government through (QRIDA) has announced grant relief packages of up to $50,000 for flood affected businesses.  Details of the assistance available, eligibility criteria and how to apply are detailed below. What assistance is available? Grants of up to $50,000 are available for affected small businesses following the South-East Queensland Rainfall and Flooding.  Grant monies can …

Queensland Government releases Small Business Flood Disaster Assistance Grants (Up to $50,000) Read More »

We are pleased to announce that we have welcomed Rebecca Hansensmith as a Senior Manager (Accounting) to our team this month. Rebecca is passionate about supporting clients to reach their business goals.  She has worked in large and small accounting firms over her 16 year career and brings a breadth of experience over a diverse …

Welcome New Team Member – Rebecca Hansensmith Read More »

When we started 2021 we were cautiously optimistic about what lay ahead little were we to know this would be one of the toughest and trying years for myself, Jodie and the family. Whilst the year started well with renewed signs of confidence and activity and as we built on the foundations of our third …

Merry Christmas and Thank You Read More »

You must apply for a Director Identification Number (DIN) effective from 1 November 2021 From November 2021, every Director of a Company will need to apply for a Direct Identification Number (DIN). A director ID is a 15-digit identifier given to a director or someone who intends to become a director, who has verified their …

Director Identification Number Read More »

The Queensland Government is supporting eligible small and medium businesses (and not for profit organisations) impacted by lockdowns taking effect during August 2021. What payments are available? A $10,000 grant to employing small businesses and not for profit organisations with an annual payroll of less than $1.3 million; A $15,000 grant to employing medium sized …

2021 COVID-19 Queensland Government Support Grants Read More »

With effect from 1 July 2021 the EMDG program now provides upfront funding certainty as opposed to re-imbursement of a percentage of your eligible export expenses.  Applicants will know how much they will receive over the life of their grant agreement (2 or 3 years) and be able to plan promotional activities with confidence. Who …

Changes to the Export Market Development Grant (EMDG) Read More »

With the new financial year just started we thought it would be a timely reminder to provide a summary of some of the key tax changes and ongoing measures in place that you should be aware of. Superannuation Superannuation guarantee increase to 10% The Superannuation Guarantee rate has increased from 9.5% to 10% with effect from 1 July …

Key Tax Changes for 2022 Read More »