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...
by Team Garnet | Mar 24, 2022 | Business Structures, Small Business, Tax News
Temporary full expensing of depreciating assets has been extended until 30 June 2023. Your business still has time to purchase eligible assets and deduct the full value in your tax return. The measure was originally introduced in 2020 as a part of the Federal...
by Team Garnet | Mar 2, 2022 | Assistance, Small Business, Tax News
Eligible businesses in need of financial help are able to take advantage of the loss carry back offset for the last time in their 2021-22 income tax return. They will have one last chance in their 2021-22 tax return to claim the loss carry back, which provides a...
by Team Garnet | Feb 24, 2022 | Small Business, Tax News
The government has proposed to make COVID-19 tests, both rapid antigen and polymerase chain reaction tests, tax deductible for individuals where they are purchased for a work-related purpose. After the recent furore over the non-existent supply of COVID-19 rapid...
by Team Garnet | Feb 4, 2022 | Business Structures, Small Business, Superannuation, Tax News
Is your business is offering rewards or incentives to your employees and/or the general public to get Covid-19 vaccination or the booster? There may be tax consequences. With most of Australia and the world still in the grips of the COVID-19 pandemic, many businesses,...
by Team Garnet | Dec 1, 2021 | Business Structures, Small Business, Tax News
Do you know if your business is eligible to claim small business CGT concessions? If you’re thinking of retiring or selling your business find out more. If you’re a small business owner and the pandemic has made you reassess your future, whether it be retirement or...
