Director Identification Number (director ID) – what you need to know and action
You may have heard about the new rules which require directors of Australian companies to obtain a Director Identification Number (director ID). The new requirement to obtain a director ID also applies to individuals who have an SMSF or a trust with a corporate trustee. All directors of a company or corporate trustee will need
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Phasing Out COVID-19 Relief
COVID-19 support will roll back as states and territories reach vaccination targets. The road map out of COVID-19 does more than provide greater freedoms at 70% and 80% full vaccination rates, it withdraws the steady stream of Commonwealth financial support to individuals and businesses impacted by COVID-19 lockdowns and border closures. For individuals The COVID-19
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Payroll and land tax relief (NSW)
The NSW government has announced a range of COVID-19 tax relief measures as part of the economic package to assist impacted businesses. The Payroll and Land tax measures are summarised below. Payroll tax reduction A payroll tax reduction of 25% is available for the 2021/22 year for businesses that have experienced a 30% decline in
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Updated COVID support
The government has recently broadened the scope of the COVID-19 support grants available for NSW Businesses. Should you require assistance with the decline in turnover requirement or require an accountant’s letter, please reach out to your contact at ADX Accountants. For the latest information, please click here to download a PDF summary updated on 28
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Support available for NSW Businesses and employees
The Government has recently announced the availability of certain grants to provide temporary financial assistance to NSW businesses during the recent lockdown. Should you require assistance with the decline in turnover requirement or tax implications, please reach out to your contact at ADX Accountants.
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JobSaver payments – reconfirming eligibility
If your business has received JobSaver payments, you may have received an email recently from Service NSW requiring confirmation of the headcount and decline in turnover requirements. To be eligible, the following requirements must be satisfied in order to continue receiving job saver payments: Should you require assistance with these testing requirements, please reach out
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Support available for NSW Businesses and employees
The Government has recently announced the availability of certain grants to provide temporary financial assistance to NSW businesses during the recent lockdown. The NSW Small business Support Grant If you’re a business, sole trader or not-for-profit organisation impacted by the current Greater Sydney COVID-19 restrictions, you may be able to apply for up to $10,000
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The New Financial Year – worth celebrating!
As an SME owner, now is a good time to do a “stocktake” across your business, after 12 months of racing to get to the end of June. This new financial year is especially worthy of taking time to reflect and celebrate with your team! During the past 12 months there have been a lot
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Wake Up Call & Get Help Early
In the past twelve months, many of our clients came to see us to discuss business opportunities, restructuring, cashflow and working capital issues. We appreciate there is the need for these types of discussions, as COVID has changed and challenged many traditional business plans. For the less fortunate business clients, they have just been seeking
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Novated leasing and salary sacrifice: tax benefits explained
The concept of salary packaging vehicles via novated leasing is not new. If you are an employer who has thought about offering salary packaging to your staff, or have an employee interested in financing a vehicle purchase, but are not sure about the novated lease option then it may be worth understanding how the concept
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