What is it? The R&D Tax Incentive (R&DTI) is a self-assessed Australian Government assistance program aimed at encouraging companies to undertake R&D in Australia that might otherwise have been considered too risky to do without the financial support provided by the program. The R&DTI is jointly administered by AusIndustry and by the Australian Taxation Office…Read More

Prime Minister Scott Morrison has recently announced the government was looking into ways to resume international travel. “I think there will be the opportunity for Australians to engage in essential business travel,” he told 2GB Radio. Scott Morrison said that international travel was already open for a small number of businesses, “provided the quarantine arrangements are…Read More

The Federal Government has announced that it will extend the $150,000 instant asset write-off, for a further 6 months until 31 December 2020. This is following the expansion of the programme from assets worth $30,000 to $150,000 in response to the March COVID-19 pandemic. The $150,000 write-off had previously been due to expire at 30…Read More

Many of our business clients like to review their tax position at the end of the income year and evaluate any year-end strategies that may be available to legitimately reduce their tax.   Traditionally, year-end tax planning for small businesses is based around two simple concepts (i.e., Accelerating business deductions and deferring income).  This year, consideration…Read More

Tax saving strategies prior to 1 July 2020 A good strategy to reduce tax payable is normally to accelerate any income tax deductions into the current income year, which will reduce overall taxable income in the current year.  Despite this, for the 2020 tax season, tax planning may require consideration of an individual’s potentially reduced…Read More

The Federal Government has announced a $25,000 HomeBuilder tax-free stimulus grant. The stimulus is targeted at home owners to build new houses or renovate their existing ones. The grant is available where a contract is signed between 4 June 2020 and 31 December 2020. The Federal Government hopes this new HomeBuilder scheme will encourage home…Read More

Overview of latest COVID-19 information from the Department of Home Affairs for Businesses and Employers.   The Department of Home Affairs has recently provided information to assist specific industries as well as employers affected by the ongoing pandemic.  These measures are designed to assist Australian employers and key industries recover from the effects of the…Read More

Applications are drawing to a close for the Service NSW Covid-19 support grant of $10,000 for small business’s highly impacted from COVID-19 pandemic following the NSW Public Health Order on 30 March 2020. The grant is part of the NSW Government Small Business Support Fund. Applications are open until 11.59 pm Tuesday 30 June 2020. Eligibility…Read More

Amazon is growing at an exponential rate and has been expanding worldwide. There is no denying the opportunities of the US Amazon market reaching millions of American shoppers every day. The good news is selling on Amazon US is not just limited to US residents. The Benefit of Selling on Amazon US The major benefit…Read More