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 17, 2022 | Superannuation
The downsizer age limit will be lowered from 1 July 2022. If you’re thinking of downsizing, you can boost your super at the same time. To help those nearing retirement boost their super balances, those aged 65 and over are able to make downsizer contributions of up to...
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 | Jan 28, 2022 | Investments, Tax News
Cryptocurrency losses and scams are on the rise in Australia, depending on your circumstances, if you’ve been scammed, you may be able to claim a capital loss in some instances. With the recent collapse of a second Australian cryptocurrency exchange in as many months,...
