Accounting & Wealth Insights

Over the past few weeks, the Government has announced two economic stimulus packages to cushion the economic impact of the Coronavirus. A total of $189 billion is being injected into the economy by all arms of Government in order to keep Australians in work and businesses in business.

A second Government stimulus package was announced on 22nd March 2020, adding another $66 billion into the economy… with even more on the way.
We have assessed the package with regard to both our business and non-business clients.

There’s something empowering about living in this day and age – having the ability, with a few keystrokes or even a quiet word to Siri, to access.., well, anything. But it’s important to remember that what you read on the internet is not always a good basis for decision making.

The Australian Taxation Office (ATO) today revealed it will be requesting a further five years’ worth of policy information from over 30 insurance companies about taxpayers who own marine vessels, thoroughbred horses, fine art, high value motor vehicles and aircraft.

If you use drop shipping for your business, GST will apply to sales of low value imported goods valued at $1,000 or less. Australian retailers should treat these sales the same as other domestic sales and apply GST at the point of sale.

A new year, a new decade… the perfect time to embrace some new resolutions that can help set you on the right path for a secure financial future. Making small behavioural changes today can create a massive difference to your financial position in years to come.

Planning for the new year ahead is often daunting. From budgets and goals to increasing productivity and adjusting business structures, it can all become a bit of a blur. But gaining clarity about your business is the best way to set solid foundations for the future.