by Team Garnet | Jun 22, 2022 | Business Structures, Small Business, Tax News
You are legally required to keep records of all transactions relating to your tax and superannuation affairs. Failing to keep correct records can have financial consequences. You are legally required to keep records of all transactions relating to your tax and...
by Team Garnet | Jun 17, 2022 | Small Business, Tax News
The ATO is reminding businesses this tax time 2022 to see if there are tax-deductible items or concessions they are able to access and to consider their record-keeping habits of the past year. As the end of another tax year approaches, the ATO has reminded businesses...
by Team Garnet | Apr 22, 2022 | Business Structures, Small Business
Now is a good time to check that your business’ PAYG instalments still reflect its expected end of year tax liability. The PAYG instalment system allows a business to spread its income tax liability across the tax year. This helps with cash flow but also means the...
by Team Garnet | Apr 7, 2022 | Business Structures, Money, Small Business, Tax News
The 2022 Federal Budget has been handed down with some sweeteners for small businesses. On Tuesday, 29 March 2022, Treasurer Josh Frydenberg handed down the 2022-23 Federal Budget, his 4th Budget. In an election Budget, the Treasurer announced a range of measures...
by Team Garnet | Mar 31, 2022 | Money, Small Business, Superannuation
From 1 July 2022, the minimum threshold at which an employer has to pay super under the super guarantee scheme will be removed. How will it benefit you? Low-income employees should rejoice that the minimum threshold at which an employer has to pay super under the...
