Posts by advicecogillian
WFH? Here’s what you can claim
Had another year of working from home? If yes, then you and 40% of Australians now work from home on a regular basis. Many people have purpose-made work spaces at home off the back of their COVID experiences and changing work cultures. Some have even bought new houses to accommodate their WFH needs. Here’s a…
Read MoreHow SMEs can stay on top of business
The last two years have taught us all that the world is increasingly unpredictable. Business owners and managers have less control than ever, but there are two simple things businesses can do NOW to prepare for the next unpredictable event, and ultimately stay on top. Risk management planning By definition, risk is something that poses…
Read MoreCost of Living stress
The cost of living is worrying Australians. Consumers have been spooked in recent weeks by eye-watering petrol prices and grocery costs. The Central Coast has the added pressure of rising council rates and property/rental prices to boot. Nervousness remains, with the war in Ukraine set to continue to disrupt oil supply and the cost of…
Read MoreHow much superannuation should you have at your age?
Recent figures by the Association of Superannuation Funds of Australia (ASFA) show how much people of various ages actually have in super, versus how much they’ll need in retirement. They are two very different numbers that highlight the need for Australians of all ages to engage in their super to make sure they will have…
Read MoreATO crackdown on Family Trusts
In an effort to crack down on Family Trusts, the Australian Tax Office (ATO) released a draft ruling and accompanying guidance in February. The draft ruling suggests that they intend to target ‘reimbursement arrangements’, generally referred to as Section 100A. There is much detail trustees and beneficiaries need to get their heads around, but for…
Read MoreInsurance – trends tips and traps in the wake of a(nother) natural disaster
Natural disasters are becoming increasingly common, severe and geographically indiscriminate. This is having an expensive ripple-on effect: higher insurance premiums, more instances of under-insurance and more pressure on the tax-payer to meet the shortfall. So what can you do to stay protected? If you haven’t had to review your property insurances in the last 12…
Read MoreLegislation changes to super – benefits individuals aged 60+ and First Home Buyers
Proposals from the 2021 Federal Budget in relation to superannuation have now passed legislation and will come into effect on 1 July 2022. Benefits include savings opportunities and tax reduction measures especially for people aged 60+ and first home buyers. Benefits to people aged 60+: Individuals aged between 67 and 75 will no longer be…
Read MoreEmployers prepare for March FBT deadline
Employers who are registered as a Fringe Benefits Tax (FBT) payer must complete paperwork for the ATO this month. Those who have an FBT liability are required to take further action, and lodge returns and pay by 23 May. Different types of benefits can include employer-provided vehicles and parking, entertainment and meals, interest-free or low-rate…
Read MoreNew round of government supports announced for small business
Some have said that ‘living with COVID’ has been worse for business than lockdowns. Thankfully, those worst affected over the summer period are now able to access the NSW government’s 2022 Small Business Support Program as well as extended financial relief programs. Here’s the what and how… The 2022 Small Business Support Program is for…
Read MoreBusiness insolvencies set to rise in 2022
Credit reporting company, CreditorWatch, has released its report on business activity through January. The latest results indicate that the Australian economy is likely to recover at a slower pace than desired, with a follow-on effect of more insolvencies. Here’s what to look out for and the proactive steps to take if your business is feeling…
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