We've outlined a breakdown of each of the various key caps related to superannuation (super) contributions for the financial year 2024/25.
As a business owner, making sure you are not caught in a state of paralysing surprise, understanding your cash flow is essential to manage your business. As you may know only too well, you don’t pay rent, meet payroll or pay your bills with profit.
If you have provided fringe benefits to your employee it is a requirement to lodge an FBT return. This is separate to income tax, is calculated on the taxable value of the fringe benefit, and is paid by the employer.
In Australia, Higher Education Loan Program (HELP) debts, particularly the HECS-HELP component, present a unique financial obligation for graduates. Let's delve into the intricacies of HECS-HELP and explore strategies to navigate this financial landscape.
Growth is what all businesses should strive for but there are dangers to growing your business too fast. Be prepared, avoid the dangers & follow this advice.
After much speculation, the Government has announced that they will amend the legislated Stage 3 tax cuts scheduled to commence on 1 July 2024. This will mean that more Australian taxpayers will receive a personal income tax cut and take home more in their pay packet from 1 July, but for some, the impact will be less favourable than it would have been prior to the redesign.
In the dynamic landscape of business operations, the role of a Chief Financial Officer (CFO) is paramount in steering a company towards financial success. However, for many businesses, the prospect of hiring a full-time CFO may seem financially daunting. As a strategic alternative businesses may choose to use an accountant to fulfil the role of a Chief Financial Officer (CFO) for several reasons...
- Posted in Bookkeeping, Business Advice, Growth, Profitability, q4 financial, Tax & Accounting
- by q4financial
There are harsh penalties for employers if the super is not paid on time. In addition to interest and penalties, the employer cannot claim a tax deduction for any payments made after the due dates. Read on...
The answer according to the ATO - you should keep records long enough to cover the period of review (also known as the amendment period) for an assessment that uses information from the record.
