Setting Performance Targets: A Key to Business Success
Setting performance targets is essential for business success. This article highlights the importance of clear, measurable goals, offers tips for using the SMART criteria, and shares best practices for monitoring progress to enhance motivation and accountability. Setting Performance Targets: A Key to Business Success Setting performance targets is a vital component of effective business management. […]
Understanding PAYG Instalments: A Guide for Australian Businesses
Understanding PAYG (Pay As You Go) instalments is vital for Australian businesses managing tax obligations. This guide covers who needs to pay, how to calculate instalments, and important deadlines, helping you ensure smoother cash flow and avoid tax-time surprises. Understanding PAYG Instalments: A Guide for Australian Businesses If you’re running a business in Australia, understanding […]
How to setup your Director ID
What is a director ID? A director ID is a 15 digit identification number that, once issued, will remain with that director for life regardless of whether they stop being a director, change companies, change their name, or move overseas. The introduction of the Director Identification Number (DIN) is part of the Government’s Modernisation of […]
New 15% super tax to apply from 1 July 2025
In February 2023, the Government announced its intention to reduce the tax concessionsavailable to individuals with superannuation balances in excess of $3 million. Broadly, from 1July 2025, individuals with balances over this threshold would be subject to an additional taxof 15% on the earnings on any balance that exceeds the $3 million threshold. There is […]
FBT exemption for electric cars
Until recently, the FBT consequences for providing electric cars to employees were effectively the same as any other car. However, from 1 July 2022, FBT is no longer payable on benefits provided for eligible electric cars and associated expenses. Practically, this exemption will be relevant for thefirst time in the 2023 FBT year. Broadly, benefits […]
