1. What are the changes to Australian domain names? Earlier this year the option of .au domain names was introduced. This means you’re now able to register and use a shorter domain name, such as yourbusiness.au rather than yourbusiness.com.au. So, for example, if Joe owns joesbusiness.com.au, he has until 20 September 2022 to register joesbusiness.au as well. After this priority period, the .au domain will become available to the general public on a ‘first come, first served’…
Yes you can, but read the rules below. You can only claim a tax deduction for gifts or donations to organisations that have a status as a deductible gift recipient (DGR). The DGR status of an organisation can be checked at ABN Look-up: Deductible gift recipients. The gift must be greater than $2. If you receive a raffle ticket, dinner attendance, event entry, chocolates, or anything like that, then your…
Cash Flow, Small Business, Taxation
With the end of the tax year approaching, now is the time to see what you can do to reduce your tax for 2022. This would mean more money in your pocket for you and your family to enjoy. To minimise your Personal tax click here. Business Tax Temporary Full Expensing Businesses with an aggregated turnover of less than $5 billion can immediately deduct the business portion of the cost…
With the end of the tax year approaching , now is the time to see what you can do to reduce your tax for 2022. This would mean more money in your pocket for you and your family to enjoy. To minimise your Business tax click here. Personal Tax Home Office Expenses during Covid-19 If you worked at home because of Covid-19 you will be able to claim a special…
I would like to start mentioning something which will impact everybody from today and that is a temporary reduction in the fuel excise. The current fuel excise is 44.2 cents per litre and this will reduce from today to 22.1 cents per litre for the next 6 months. Below are the other personal and business announcements. 1. Personal 1.1 Increase to low and middle income tax offset (‘LMITO’) The Government…
Directors of companies need to register for a new identification number called a director identification number (director ID) This is a unique identifier that a director applies for once and keeps forever. You’ll need a director ID if you’re a director of: a company a registered foreign company a registered Australian body, or an Aboriginal and Torres Strait Islander corporation. You can apply for your director ID at Australian Business…