by Team Garnet | Nov 3, 2021 | Business Structures, Small Business, Tax News
Need to lower your company’s tax payable? The easiest way is to utilise prior-year tax losses, however, beware of conditions that apply With tax time 2021 nearly over, many businesses will now be finalising their tax returns. For many of these businesses, the 2020-21...
by Team Garnet | Oct 27, 2021 | Business Structures, Small Business
The Director Identification Number regime is coming, with the application process to open soon. Do you know if it applies to you and what the deadlines are? The Director Identification Number regime came into force late in 2020 as a tool for the government to reduce...
by Team Garnet | Sep 30, 2021 | Business Structures, Small Business, Superannuation
There’ll soon be an extra step for employers that hire new employees in relation to the recent stapled super fund changes. Employers beware, from 1 November 2021, if you’re hiring new employees, there may be an extra step involved in determining which super fund...
by Team Garnet | Sep 24, 2021 | Business Structures, Small Business
If you’re closing or selling your business, don’t forget about the GST obligations you’ll have to meet including deregistration and lodgment of final returns. If the current prolonged lockdown and economic conditions has prompted you to sell or close your business,...
by Team Garnet | Sep 1, 2021 | Small Business, Tax News
Has your business received State or Territory COVID-19 grants in the past tax year? If you have, you may not know that some grants may be taxable while other grants are not. After another challenging year, businesses may be wondering whether the amounts they’ve...
by Team Garnet | Aug 25, 2021 | Small Business, Tax News
As the sharing economy becomes more prevalent and fundamentally reshapes many sectors of the economy, the government is scrambling to contain the fallout. While there is no standard definition of the term sharing economy, it is usually taken to involve two parties...
