- Articles
- Changes to overseas working holiday tax
- Exciting new service offering at YML!
- Right Corporate Structuring
- Stamp Duty
- Annual Wage Review
- Interest Only Loans
- GOVERNMENT ANNOUNCES CHANGES TO THE WORKING HOLIDAY VISA MAKER PROGRAM
- Six Things that Can Keep a Business from Growing
- ATO ANNUAL REPORT
- How The Cloud and Automation Make Business Management Easier
- Avoiding the Wealth Creation Con Artists
- Why Business Owners Should Think Like Futurists
- Buying Property? Why You Should Care About Interest Rates
- Buying property through SMSF – what are the rules?
- 4 reasons to consider refinancing your home loan
- Big data for small business
- Does your super fund provide enough life insurance cover?
- HIFX - INTERNATIONAL PAYMENT EXPERTLY DONE
- Succession plan basics for small business
- Budget Alert – Should you put in place a Transition to Retirement strategy?
- FBT 2016 - WHAT YOU SHOULD KNOW
- How New Laws May Impact Your Use of an Earnout Right when Buying or Selling a Business.
- Transfer of Business Assets & Private Company Shares
- Financial Future Checklist
- Matters to Consider Before Setting Up an SMSF
- 6 Things that Work Better in The Cloud
- Can better inventory management improve business performance for Manufacturers?
- Should you register for GST?
- 5 Top Causes Of Stress for Small Business Owners Open page Preview for 5 Top Causes Of Stress for Small Business Owners
- 5 Reasons for Cash Flow Problems in Small Businesses
- Key man insurance, who do you need to insure?
- Finance options for buying a car
- Buying A Business? 5 Red Flags to Watch Out For
- Should You Take Your Small Business National?
- Upfront costs when buying a home and how you could save
- Insourcing vs outsourcing vs co-sourcing
- 7 Useful Web-Based Software Programs for SMEs
- Saving Tax Through Successful Loan Structuring
- Buy/sell agreements - do you need one?
- Newsletters
- New Work Tax Exemption (WTE) granted to SMSF Members
- YML Finance – LOOK at these loan Interest Rates…
- New Tax Relief Introduction – Parliamentary Bill 2019
- Australian Immigration Visa Changes from 1st July 2019
- Single Touch Payroll (STP) Phase 2: What Your Business Will Have to do to Comply and How YML can Help
- Land Tax Surcharge and You
- YML Insight April 2015
- Tax Liabilities to be reported to Credit Agencies
- Insurance in your Superannuation Policy
- Business Process Improvement
- Intelligent Process Automation (IPA) is here to stay
- Carry forward your unused Concessional Contributions
- 2015 Federal Budget Report
- Business Valuation
- Skilled Nominated Migration (190 Visa) – Live & Work in NSW
- YML Insight June 2015
- Prepaying Interest
- Superannuation Contributions at EOFY
- Financial Year End Planning
- It’s time to apply for a Director Identification Number (DIN)
- Small Business Cyber Security
- Australia’s Company Tax Rate lowered to 25%
- How Business Process Outsourcing can bring value to your customers through technology
- Economic Stimulus 2021 – Latest Government Incentives – What can your business receive?
- Equity Crowd-Funding
- Low and Middle Income Earners – Tax Offsets
- Mortgage Insurance
- RBA Cash Rate Reductions - What it means for your Loan
- Insurance in Super
- Gift or lend to your child?
- GENERAL SKILLED MIGRATION (GSM)
- Proposed Superannuation Guarantee Amnesty – Have you correctly paid your staff super?
- How RPA and Bots are making Employees happier
- It’s time to apply for a Director Identification Number (DIN)
- Super Guarantee – What Happens When You Get It Wrong
- Business Process Outsourcing – Take the Technology View
- The Importance of Estate Planning
- Transfer Balance Caps and what they mean for your Superannuation and Succession Plan
- PRINCIPAL-AND-INTEREST VS INTEREST-ONLY
- UPDATE YOUR WILL
- SAFE HARBOUR FOR DIRECTORS OF STRUGGLING COMPANIES
- COVID-19 and Estate Planning – Your Will
- Why wait for interest rates to go up before considering a fixed interest loan from 1.89% p.a.?
- ATO is Auditing Rental Property Expense Claims
- JobKeeper 2.0 – Extension 1 and Extension 2
- How a Mortgage can improve your Financial Position / How a Mortgage can grow your Wealth
- Cryptocurrency – What are the Taxation Implications?
- REMINDERS! LAND TAX REGISTRATION and DEED OF VARIATION
- 2020-21 Federal Budget – Update
- Economic Stimulus 2022 – Latest Government Incentives – What can your business receive?
- UPDATING SMSF TRUST DEEDS
- SMSF - $1.6 MILLION TRANSFER BALANCE CAP
- ACT NOW – YML can help you with Phase 2 Single Touch Payroll (STP)
- CONTRACTOR vs. EMPLOYEE – EMPLOYER OBLIGATIONS
- FBT
- Economic Stimulus 2022 – Latest Government Incentives – What can your business receive?
- RPA for VEHICLE FLEET MANAGEMENT
- CRYPTOCURRENCY
- Using your Equity to Lower your Rate AND to Invest
- TRUST DISTRIBUTION IN 2018
- TAX PLANNING
- Superannuation Guarantee – Quarter 2 Late Payments Due and New 2022 Threshold Removal
- THE IMPORTANCE OF WITHDRAWING YOUR MINIMUM PENSION
- Bookkeeper Service – Why does your business need it?
- AUDIT INSURANCE – ATO Increasing Audit Activity in the Areas of Income Tax and Supe
- 5 Everyday Examples of IPA in Practice
- Transferring asset ownership to a SMSF is an in specie contribution
- Deed of Variation – NSW Surcharge Land Tax
- Deed of Variation – NSW Surcharge Land Tax
- Is Your SMSF Investment Strategy Compliant?
- GST on Property Transactions has changed from 1 July
- INVESTMENT LOANS – IS IT WORTH TAKING OUT PRINCIPAL + INTEREST at 3.89% RATE*?
- GLOBAL TALENT SCHEME – Get the expertise your company needs…
- Business Intelligence (BI) in Small Business
- It’s started – Single Touch Payroll (STP)
- CAR LOAN – HERE’S AN OFFER
- Should you pay principal + interest on your investment property?
- Over 65? Downsize your home to contribute to your super!
- NEW Skilling Australians Fund (SAF) Levy
- Limitations to the Superannuation Death Benefit
- Did you know YML Group offers CFO Services?
- Trust Distributions – Draft Section 100A – What you need to know?
- JobKeeper 2.0 – Extension 2 Commencing Soon
- It’s time to apply for a Director Identification Number (DIN)
- NSW State Budget 2020-21 – Economic Stimulus Packages
- Do yourself a Service – Partner with YML’s Bookkeeping Service and be ready for FYE 2022
- Would your business withstand one of its key people falling ill or dying?
- Superannuation Guarantee Amnesty – Self-Correct your past Super Guarantee Liability
- Be ready before refinancing or applying for a new loan
- Non-Residents and SMSFs – Tax Alert!
- Managing your Money through this Crisis!
- Proposed Partner Visa Changes – NEW Two-Step Process
- YML Insight – Special Edition COVID-19
- Divorce Order – Self-Managed Superannuation Funds (SMSF
- FBT 2020 – What do you need to consider?
- Annualised Salaries – New Rules from 1 March 2020
- ATO Increased Audit Activity – Including JobKeeper
- JobMaker Hiring Credits – Explained
- Economic Stimulus Package – JobKeeper Payment
- Superannuation and Pension Payment Changes
- Should I ‘fix’ my home loan?
- Economic Stimulus Package – Small Business Grants
- Working with Remote Staff – Business Process Outsourcing
- HR in the Australian Hospitality Sector – Specialist Service Available
- ATO Payment Arrangements – Avoid Overseas Travel Ban
- Australian Director Identification Number (DIN) – Introduction
- Refinance and get up to $4k bonus OR renegotiate with your current lender?
- JOBKEEPER INCENTIVE – ENROLMENT REQUIRED 30/04/20
- GOVERNMENT INCENTIVES UPDATE
- Taxable Payments – New Compliance for Couriers and Cleaners
- Superannuation Guarantee Amnesty 2020
- Government announces Changes to the Working Holiday Maker Programme
- NEWS! CGT Main Residence Exemption to End for Foreign Residents
- EOFY Removal of Main Residence CGT Exemption for Non-residents
- YML Insight July 2015
- Economic Stimulus Package Updates
- Land Tax NSW – Have you registered? Will you pay a surcharge?
- BUY / SELL Insurance – What is it and how can it help your business?
- YML Insight August 2015
- Working from home: What deductions can you claim?
- CBA has increased its 4-year Fixed Rate – Is now the time to fix your loan
- COVID-19 – Rent Moratorium + Financial Support
- Applying For A Mortgage Is No ‘Walk in the Park’
- NEW Superannuation Contribution Caps from 1 July 2021
- MyGov – What is it and how do you apply?
- SMSF – Would it suit you?
- Cryptocurrency – What are the Taxation Implications?
- Small Business – Fees & Charges Rebate – Up to $1500
- Economic Stimulus Package – Small Business Grants
- Small Business Instant Asset Write-Off : NOW up to $25,000
- POWER BI - BUSINESS DATA TOOL
- Employees : Time and Attendance Platforms
- When are Superannuation Pensions available to Younger People?
- COVID-19 – Travel Bans and Exemptions
- Australia’s Federal Budget 2021-22 – What’s new and what’s in it for you?
- Australian Taxes Payable as a Foreign Resident
- COVID-19 – Workers Compensation and JobKeeper
- Car Loans - In your Business or Personal Name?
- Funding to help small businesses re-open after COVID-19
- Is it time you outsourced your business processes with YML?
- Digital Automation supporting Remote Work
- The Importance of Estate Planning
- Superannuation Increases – Trust Members + Contribution Caps + Guarantee Contribution Base + Pension Caps – from 1 July 2021
- Is your lender charging your SMSF a KILLER interest rate?
- Property Development – Deed of Partition and Transfers (NSW)
- Buying Property through your SMSF
- FBT 2019 – What’s new?
- Tax Time Checklist for Individuals
- Single Touch Payroll – NOW Mandatory for ALL Businesses
- Economic Stimulus Package Updates
- Should I leave my savings in the offset or in the redraw?
- Virtual Bookkeeping at your Service
- Splitting your Superannuation Contributions with your Spouse – A Way to a Better Retirement for Couples
- Tax Planning and Restructuring to suit your Business
- Economic Stimulus 2021 – Latest Government Incentives – What can your business receive?
- Federal Budget 2019 – Immigration to Australia NEWS
- Superannuation Contribution Laws are changing – Boost your Retirement Savings from 1 July 2022
- NOW is the time to consider your Year-End Super Contributions
- Economic Stimulus 2021 – Latest Government Incentives – What can your business receive?
- Federal Budget May 2016 - Superannuation and Social Security
- Buy your own Premises NOW – Business Loans at 2.45% per annum
- Federal Budget 2014-15 Update
- NOW is the time to re-look at your SMSF loan’s interest rate
- Federal Election 2019 Outcome – What it means for you
- Deduction of Interest on Vacant Land – Draft Ruling
- STP – COMPULSORY Cloud-based Payroll Reporting
- 2022 Year-End Tax Planning – Our Tips
- AI and RPA changing the Future of Work
- SuperStream Deadline for Small Employers
- Superannuation Year End Considerations Continue!
- YML Insight February 2015
- Happy NEW Financial Year – ATO Changes Update
- Economic Stimulus Package Updates – JobKeeper 2.1
- Does your SMSF have an investment strategy?
- Business Process Outsourcing (BPO) – Remote / Offshore
- YML Insight March 2015
- General Outsourcing Services provided by YML
- How to get on top of your finances post COVID-19
- Other Topics
- RPA
- FAMILY TRUST DEED VARIATION
- ENCOURAGING NEWS FOR Permanent residency (pr) APPLICANTS
- WORK RELATED CAR EXPENSES - WHAT'S LEGAL?
- WHAT IS THE BEST WAY TO PAY OFF YOUR DEBTS?
- Business Protection Insurance
- Aiming to Make a Final Non Concessional Superannuation Contribution for 2016? Be Careful!
- Getting Organized and Planning Effectively This EOFY
- New Withholding for Non Residents
- Four Per Cent Stamp Duty Surcharge for Overseas Investors Buying Residential Real Estate in NSW
- Co-Sourcing: An Alternative To Out-Sourcing
- What Small Business Expenses Can You Claim?
- Israeli Tax of Trusts
- New Superannuation Rules
- YML Group App - Coming Soon
- Obtaining a Business Skills Visa
- Quick Tips to Pay Off Your Mortgage Sooner
- FBT on Christmas Gifts and Tax Deductibility of Christmas Parties
- Changes to the Assets Test for Centrelink Aged Pensions from January 1st 2017
- Why You Should Consider Co-Sourcing for your Business
- Is It Worth Fixing Your Loan?
- Co- Sourcing
- Shareholder's Agreements
- Tax
- Supporting investment
- Re-financing pre-existing debt*, including SME Guarantee Scheme amounts (*Check eligibility criteria)
- Purchasing commercial property
- Up to $5 million in loan finance (in addition to any Phase 1 and Phase 2 loan limits)
- Government guarantee of 80% of the loan amount
- Lenders will offer up to 24 months of repayment ‘holiday’
- Loans for terms of up to 10 years (with an optional repayment ‘holiday’)
- Interest on loans will be capped at 7.5% per annum
- Have an ABN-registered business operating in NSW; and
- Have registered for GST; and
- Have an annual turnover of $75,000 minimum; and
- Have a total Australian payroll below the NSW Government payroll tax threshold in 2020-21 of $1.2 million.
- Commonwealth Government charges
- Any government premises rental amounts
- Commonwealth Government taxes
- NSW Government taxes
- Any fines or penalties
- Fees and charges incurred with the purpose of changing a small business owner or sole trader’s behaviour, such as but not limited to parking space levies (Transport for NSW), compliance and capacity risk loadings (Liquor & Gaming NSW), environmental prevention and clean-up notice fees and general trading licence fees.
- $2000 for cancellations of 10 nights or less
- $5000 for cancellations of 11 nights or more
- For room nights lost during the 25 June to 11 July period.
- Must be able to show evidence of cancellations.
- $1,000 – non-employing sole traders based in QLD
- $10,000 – employing QLD small businesses and not-for-profits with payroll less than $1.3 million
- $15,000 – employing QLD medium-sized businesses and not-for-profits with payroll between $1.3 million and $10 million
- $30,000 – employing QLD large-sized tourism and hospitality focused businesses and not-for-profits with payroll more than $10 million.
- Tourism and Hospitality Sector Hardship Grant for small, medium and large-sized Queensland tourism and hospitality businesses.
- Major Tourism Experiences Hardship Grant for Queensland’s major tourism businesses.
Integrated Financial Services
Economic Stimulus 2021 – Latest Government Incentives – What can your business receive?

All states and territories
JobMaker Scheme
The JobMaker Scheme offers an incentive for small- and medium-sized businesses to expand their workforce and employ younger Australians in need of a job and, in turn, deliver growth potential for those businesses.
Eligible employers must register with the Australian Taxation Office (ATO) who are administering the scheme. JobMaker Hiring Credits are paid each quarter – from 1 February 2021 – for each eligible additional employee hired from 7 October 2020 until 6 October 2021.
Eligible employers may receive a JobMaker Hiring Credit of $200 a week for an employee aged 16 years to 29 years of age AND $100 a week for an employee aged 30 years to 35 years of age.
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Click on the link below if you are a business owner for you to receive JobMaker
https://app.hellosign.com/s/8qkWmCLT
Payment application end on 6 October 2022.
For more info visit https://www.ato.gov.au/General/JobMaker-Hiring-Credit/
SME Recovery Loan Scheme
The SME Recovery Loan Scheme was developed to aid small- and medium-sized enterprises that have an annual turnover of less than $250 million. All applicant businesses must have accessed JobKeeper during the first quarter between 4 January 2021 and 28 March 2021.
A loan under the SME Recovery Loan Scheme may be used for a broad range of business means, including but not limited to:
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Phone YML Finance on (02) 83834466 if you are a business owner for you to receive a SME Recovery Loan
Applications end on 31 December 2021.
For more info visit https://treasury.gov.au/coronavirus/sme-recovery-loan-scheme
New South Wales
NSW Small Business Fees and Charges Rebate
Financial incentives offered by the NSW Government include eligible businesses being offered up to $1500 in rebates to offset the cost of specific NSW state and local government fees and charges incurred during the running of a business.
Sole traders and small business owners must:
Eligible applicants can lodge multiple claims – as these types of expenses arise and are paid – until the $1500 rebate cap is reached.
The NSW Government stipulates that for a fee or a charge to be eligible, it must be due and paid from 1 March 2021.
There are some costs that may NOT be claimed:
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Click on the link below if you are a business owner for you to receive the NSW Small Business Fees and Charges Rebate
https://app.hellosign.com/s/C14bVnW3
Applications end on 30 June 2022.
For more info visit https://www.service.nsw.gov.au/small-business-fees-and-charges-rebate
NSW Performing Arts COVID-19 Support Package
Urgent financial assistance is available now for the performing arts industry, including venues, producers, promoters who have had to postpone or cancel performances due to public health ordered restrictions from 26 June 2021 to 30 September 2021.
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Click on the link below if you are a business owner to receive NSW Performing Arts COVID-19 Support Package.
https://app.hellosign.com/s/9y05aJr8
Applications end on 31 Dec 2021
For more info visit https://www.create.nsw.gov.au/funding-and-support/nsw-performing-arts-covid-support-package/
COVID-19 Business Support Hardship Review
If your business or not-for-profit organisation was not eligible for the 2021 COVID-19 business grant, COVID-19 micro-business grant or JobSaver payment, you may still be able to access financial support by submitting your details to the COVID-19 business hardship review panel.
Businesses that did not meet the eligibility criteria for the COVID-19 business support schemes, and businesses that had their applications refused, may now be eligible to apply to the panel for special consideration. Businesses must be able to demonstrate financial hardship as a result of NSW public health orders.
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Click on the link below if you would like YML Chartered Accountant to assist you.
https://app.hellosign.com/s/K3NBOKRx
Apply at any time
For more info visit https://www.service.nsw.gov.au/transaction/apply-covid-19-business-support-hardship-review
2021 COVID-19 Land Tax Relief (Jul – Dec 2021))
NSW residential and commercial landlords who provide rent relief – between 1 July 2021 and 31 December 2021 – for tenants experiencing financial hardship can apply for up to 100 per cent land tax deduction for the 2021 land tax year. This financial relief is intended to reduce a landowner’s land tax payable for 2021.
A commercial landowner must be leasing land to a commercial tenant with an annual turnover of up to $50 million and who is eligible to receive a COVID-19 Micro-business Support Grant, the 2021 COVID-19 NSW Business Grant and/or the JobSaver Payment.
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Click on the link below if you are a landowner to receive 2021 COVID-19 Land Tax Relief.
https://app.hellosign.com/s/HXQwUBL9
Applications end on 31 January 2022.
For more info visit https://www.revenue.nsw.gov.au/news-media-releases/covid-19-tax-relief-measures/2021-land-tax-covid-19-relief-guidelines-jul-dec
Dine & Discover NSW Vouchers
The NSW Government continues its Dine & Discover NSW voucher program. These vouchers can be used at participating NSW businesses in the hospitality industry. Any NSW resident aged 18 years and over may apply for the vouchers.
Each applicant may receive:
2 x $25 Dine NSW vouchers for takeaway meals, restaurants, cafes, bars, wineries, pubs and clubs, as well as,
2 x $25 Discover NSW vouchers for entertainment, recreation, cultural institutions, live music events and arts venues.
Vouchers are available to all NSW residents aged 18 or over and are valid to 30 June 2022.
Takeaway businesses are now eligible to register for the scheme. For more info visit the link below.
For more info visit https://www.service.nsw.gov.au/transaction/register-business-dine-discover-nsw
NSW Payroll Tax Relief
NSW payroll tax liabilities are currently deferred for all NSW employers until 14 January 2022.
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Phone YML Chartered Accountants on (02) 83834400 for precise reinstatement to ensure you resume your payments on time.
The NSW Government has announced – not yet finalised – a financial incentive to assist businesses with payroll tax during the 2021-22 financial year. For payroll tax customers with a total 2021-22 Australian wages amount of up to $10 million and whose annual turnover can be shown to have declined by at least 30 per cent, their annual payroll tax liability would be reduced by 50 per cent.
The NSW Government will provide full more information on this 50 per cent reduction when the 2021/2022 annual reconciliation becomes available.
For more info visit https://www.revenue.nsw.gov.au/news-media-releases/covid-19-tax-relief-measures/covid-19-coronavirus-and-payroll-tax
NSW Accommodation Support Grant
Accommodation provider support payments are now available for eligible tourism accommodation providers that have lost business during the school holiday period. Assistance will be based on the number of cancelled room nights.
Two different grants amounts are available:
-
If you would like YML Chartered Accountants to manage the application, please contact our office (02) 83834400
Applications end on 30 Nov 2021
For more info visit https://www.service.nsw.gov.au/transaction/accommodation-support-grant
Alfresco outdoor dining grant
The NSW Government has announced a new initiative to support food, beverage, entertainment, arts and cultural businesses impacted by COVID-19 and the recent lockdown.
The Alfresco Restart package will include $5,000 grants for 5,000 hospitality businesses to use towards outdoor dining.
For more information on outdoor dining, visit the NSW Government's website.
More information on the Alfresco outdoor dining grant will be available soon.
Summer Holiday Stock Guarantee
The Summer Holiday Stock Guarantee grant is part of the Economic Recovery Strategy and aims to give business owners the ‘confidence’ to navigate reopening and the months that follow.
Eligible businesses with a turnover rate between $75,000 and $50 million can apply for a grant of up to $20,000 to compensate for loss of perishable stock or claim $10,000 for reduced capacity to sell non-perishable items in the event of a local lockdown.
Additional information on the stock guarantee and rebate will be available soon.
Queensland
2021 COVID-19 Business Support Grants | Queensland
A joint Queensland and Australian Government support package for Queensland businesses has been announced. The package includes support for non-employing sole traders and expands on support for eligible small and medium businesses, and large tourism and hospitality businesses.
Funding amounts will be based on the payroll size of eligible businesses and not-for-profits:
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*Employing Businesses:
Applications are open until 16 Nov 2021, if you would like YML Chartered Accountants to manage the application, click the link below.
https://app.hellosign.com/s/5fXuhQDw
*Non-employing sole traders:
To apply, you must be the sole trader, Applications are open until 30 Nov 2021.
For more info visit https://www.business.qld.gov.au/starting-business/advice-support/grants/covid19-support-grants
Tourism and Hospitality Sector Hardship Program
The $110 million Tourism and Hospitality Sector Hardship Program will provide grants to both eligible tourism and hospitality businesses, and major tourism attractions and experiences facing significant financial hardship as a result of COVID-19 travel restrictions and interstate lockdowns.
There are 2 types of grants available:
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Phone YML Chartered Accountants on (02) 83834400 if you are a business owner for you to receive a Tourism and Hospitality Hardship Grant lockdown-impacted business in Queensland.
Applications are open until 22 Nov 2021
COVID-19 Border Business Zone Hardship Grant
Businesses located in the border zone that are eligible for a COVID-19 Business Support Grant may receive additional funding if they can demonstrate being impacted by the QLD-NSW border closure.
Areas eligible for border business zone support include:
Coolangatta, Currumbin–Tugun, and Currumbin Waters
border towns of Wallangarra, Goondiwindi and Mungindi (Queensland)
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Phone YML Chartered Accountants on (02) 83834400
Applications are open until 30 Nov 2021
Victoria
Commercial Landlord Hardship Fund 3 | Business Victoria
Eligible small landlords and their tenants must have agreed a rent waiver or non-payment of at least 50% of the agreed rent relief provided between 28 July 2021 and 15 January 2022 under the Commercial Tenancy Relief Scheme.
What do you get?
Grants of up to $6,000 per tenancy, and up to $10,000 for landlords experiencing acute hardship.
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Click on the link below to engage with us.
https://app.hellosign.com/s/8tSbsoHw
For more info visit Commercial Landlord Hardship Fund 3 | Business Victoria website
How can YML help?
Talk to our YML Chartered Accountants Team today to see how YML Group can assist you with government financial assistance. For more information, view our website and contact us on (02) 8383 4400 or by using our Contact Us page on our website.
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