- Articles
- Six Things that Can Keep a Business from Growing
- 4 reasons to consider refinancing your home loan
- Avoiding the Wealth Creation Con Artists
- Should you register for GST?
- Why Business Owners Should Think Like Futurists
- ATO ANNUAL REPORT
- Does your super fund provide enough life insurance cover?
- Buying property through SMSF – what are the rules?
- Succession plan basics for small business
- Big data for small business
- Matters to Consider Before Setting Up an SMSF
- Budget Alert – Should you put in place a Transition to Retirement strategy?
- Finance options for buying a car
- FBT 2016 - WHAT YOU SHOULD KNOW
- 7 Useful Web-Based Software Programs for SMEs
- How New Laws May Impact Your Use of an Earnout Right when Buying or Selling a Business.
- How The Cloud and Automation Make Business Management Easier
- Transfer of Business Assets & Private Company Shares
- Buying Property? Why You Should Care About Interest Rates
- Key man insurance, who do you need to insure?
- HIFX - INTERNATIONAL PAYMENT EXPERTLY DONE
- Financial Future Checklist
- Changes to overseas working holiday tax
- 6 Things that Work Better in The Cloud
- Can better inventory management improve business performance for Manufacturers?
- Exciting new service offering at YML!
- 5 Top Causes Of Stress for Small Business Owners Open page Preview for 5 Top Causes Of Stress for Small Business Owners
- Stamp Duty
- 5 Reasons for Cash Flow Problems in Small Businesses
- Annual Wage Review
- Buying A Business? 5 Red Flags to Watch Out For
- GOVERNMENT ANNOUNCES CHANGES TO THE WORKING HOLIDAY VISA MAKER PROGRAM
- Should You Take Your Small Business National?
- Upfront costs when buying a home and how you could save
- Insourcing vs outsourcing vs co-sourcing
- Saving Tax Through Successful Loan Structuring
- Buy/sell agreements - do you need one?
- Right Corporate Structuring
- Interest Only Loans
- Newsletters
- Federal Budget 2014-15 Update
- YML Insight June 2015
- POWER BI - BUSINESS DATA TOOL
- Federal Budget May 2016 - Superannuation and Social Security
- YML Insight February 2015
- Tax Time Checklist for Individuals
- YML Insight – Special Edition COVID-19
- Economic Stimulus Package Updates
- 2020-21 Federal Budget – Update
- Australia’s Federal Budget 2021-22 – What’s new and what’s in it for you?
- Economic Stimulus 2021 – Latest Government Incentives – What can your business receive?
- Economic Stimulus 2021 – Latest Government Incentives – What can your business receive?
- YML Insight March 2015
- SuperStream Deadline for Small Employers
- Economic Stimulus 2021 – Latest Government Incentives – What can your business receive?
- It’s time to apply for a Director Identification Number (DIN)
- Economic Stimulus 2022 – Latest Government Incentives – What can your business receive?
- Economic Stimulus 2022 – Latest Government Incentives – What can your business receive?
- YML Insight April 2015
- Land Tax Surcharge and You
- 2015 Federal Budget Report
- Tax Liabilities to be reported to Credit Agencies
- YML Insight July 2015
- YML Insight August 2015
- Trust Distributions – Draft Section 100A – What you need to know?
- Pros and Cons of purchasing and owning a Commercial Property in a Company or a Trust or a SMSF
- What happens if I don’t have a Will?
- Your SMSF and Estate Planning – What to consider
- How to avoid a Director Penalty Notice
- The Importance of Estate Planning
- Prepaying Interest
- Business Process Improvement
- Superannuation Contributions at EOFY
- Business Valuation
- Financial Year End Planning
- How Business Process Outsourcing can bring value to your customers through technology
- Equity Crowd-Funding
- Mortgage Insurance
- Insurance in Super
- GENERAL SKILLED MIGRATION (GSM)
- PRINCIPAL-AND-INTEREST VS INTEREST-ONLY
- UPDATE YOUR WILL
- Super Guarantee – What Happens When You Get It Wrong
- SAFE HARBOUR FOR DIRECTORS OF STRUGGLING COMPANIES
- Business Process Outsourcing – Take the Technology View
- REMINDERS! LAND TAX REGISTRATION and DEED OF VARIATION
- The Importance of Estate Planning
- UPDATING SMSF TRUST DEEDS
- SMSF - $1.6 MILLION TRANSFER BALANCE CAP
- RPA for VEHICLE FLEET MANAGEMENT
- CONTRACTOR vs. EMPLOYEE – EMPLOYER OBLIGATIONS
- TRUST DISTRIBUTION IN 2018
- FBT
- TAX PLANNING
- CRYPTOCURRENCY
- AUDIT INSURANCE – ATO Increasing Audit Activity in the Areas of Income Tax and Supe
- THE IMPORTANCE OF WITHDRAWING YOUR MINIMUM PENSION
- 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…
- It’s started – Single Touch Payroll (STP)
- CAR LOAN – HERE’S AN OFFER
- Non-Residents and SMSFs – Tax Alert!
- Over 65? Downsize your home to contribute to your super!
- Proposed Partner Visa Changes – NEW Two-Step Process
- NEW Skilling Australians Fund (SAF) Levy
- Should I ‘fix’ my home loan?
- Superannuation Guarantee Amnesty – Self-Correct your past Super Guarantee Liability
- Working with Remote Staff – Business Process Outsourcing
- ATO Payment Arrangements – Avoid Overseas Travel Ban
- Government announces Changes to the Working Holiday Maker Programme
- Taxable Payments – New Compliance for Couriers and Cleaners
- NEWS! CGT Main Residence Exemption to End for Foreign Residents
- BUY / SELL Insurance – What is it and how can it help your business?
- Small Business Instant Asset Write-Off : NOW up to $25,000
- Working from home: What deductions can you claim?
- Single Touch Payroll – NOW Mandatory for ALL Businesses
- Applying For A Mortgage Is No ‘Walk in the Park’
- Low and Middle Income Earners – Tax Offsets
- Employees : Time and Attendance Platforms
- RBA Cash Rate Reductions - What it means for your Loan
- FBT 2019 – What’s new?
- Deed of Variation – NSW Surcharge Land Tax
- Tax Planning and Restructuring to suit your Business
- Should you pay principal + interest on your investment property?
- Federal Budget 2019 – Immigration to Australia NEWS
- Economic Stimulus Package – JobKeeper Payment
- NOW is the time to consider your Year-End Super Contributions
- Economic Stimulus Package – Small Business Grants
- Federal Election 2019 Outcome – What it means for you
- STP – COMPULSORY Cloud-based Payroll Reporting
- JOBKEEPER INCENTIVE – ENROLMENT REQUIRED 30/04/20
- AI and RPA changing the Future of Work
- GOVERNMENT INCENTIVES UPDATE
- Superannuation Year End Considerations Continue!
- Economic Stimulus Package – Small Business Grants
- Happy NEW Financial Year – ATO Changes Update
- Does your SMSF have an investment strategy?
- Business Process Outsourcing (BPO) – Remote / Offshore
- Funding to help small businesses re-open after COVID-19
- New Work Tax Exemption (WTE) granted to SMSF Members
- Using your Equity to Lower your Rate AND to Invest
- New Tax Relief Introduction – Parliamentary Bill 2019
- Australian Immigration Visa Changes from 1st July 2019
- Deed of Variation – NSW Surcharge Land Tax
- Intelligent Process Automation (IPA) is here to stay
- Divorce Order – Self-Managed Superannuation Funds (SMSF
- Carry forward your unused Concessional Contributions
- Skilled Nominated Migration (190 Visa) – Live & Work in NSW
- Small Business Cyber Security
- Gift or lend to your child?
- Refinance and get up to $4k bonus OR renegotiate with your current lender?
- Proposed Superannuation Guarantee Amnesty – Have you correctly paid your staff super?
- CBA has increased its 4-year Fixed Rate – Is now the time to fix your loan
- ATO is Auditing Rental Property Expense Claims
- Is your lender charging your SMSF a KILLER interest rate?
- How a Mortgage can improve your Financial Position / How a Mortgage can grow your Wealth
- 5 Everyday Examples of IPA in Practice
- Is Your SMSF Investment Strategy Compliant?
- Buy your own Premises NOW – Business Loans at 2.45% per annum
- Business Intelligence (BI) in Small Business
- YML Finance – LOOK at these loan Interest Rates…
- Limitations to the Superannuation Death Benefit
- Why wait for interest rates to go up before considering a fixed interest loan from 1.89% p.a.?
- Managing your Money through this Crisis!
- Be ready before refinancing or applying for a new loan
- FBT 2020 – What do you need to consider?
- NOW is the time to re-look at your SMSF loan’s interest rate
- Annualised Salaries – New Rules from 1 March 2020
- How to manage your rising monthly loan repayments
- Superannuation and Pension Payment Changes
- Superannuation Guarantee Amnesty 2020
- Higher Interest Rates OR Options to Refinance your SMSF Loans?
- EOFY Removal of Main Residence CGT Exemption for Non-residents
- YML Chartered Accountants Digital Transformation
- Economic Stimulus Package Updates
- COVID-19 – Rent Moratorium + Financial Support
- MyGov – What is it and how do you apply?
- SMSF – Would it suit you?
- COVID-19 – Travel Bans and Exemptions
- COVID-19 – Workers Compensation and JobKeeper
- Digital Automation supporting Remote Work
- Buying Property through your SMSF
- Should I leave my savings in the offset or in the redraw?
- Do you want to make Interest-Only Repayments?
- Economic Stimulus Package Updates – JobKeeper 2.1
- General Outsourcing Services provided by YML
- Variable Interest Rate at 6.34% NOW
- How to get on top of your finances post COVID-19
- How RPA and Bots are making Employees happier
- Is your bank offering you the best interest rate?
- COVID-19 and Estate Planning – Your Will
- Dropbox Sign
- JobKeeper 2.0 – Extension 1 and Extension 2
- Bookkeeper Service – Why does your business need it?
- Did you know YML Group offers CFO Services?
- JobKeeper 2.0 – Extension 2 Commencing Soon
- NSW State Budget 2020-21 – Economic Stimulus Packages
- Would your business withstand one of its key people falling ill or dying?
- Will you benefit from a SMSF loan with an offset account?
- ATO Increased Audit Activity – Including JobKeeper
- JobMaker Hiring Credits – Explained
- HR in the Australian Hospitality Sector – Specialist Service Available
- YML Finance can help you pay your ATO Debt and Division 7A Loans
- Australian Director Identification Number (DIN) – Introduction
- Is it a good time to think about fixing your loan and will it help your borrowing capacity?
- Land Tax NSW – Have you registered? Will you pay a surcharge?
- NEW Superannuation Contribution Caps from 1 July 2021
- Cryptocurrency – What are the Taxation Implications?
- Small Business – Fees & Charges Rebate – Up to $1500
- When are Superannuation Pensions available to Younger People?
- Australian Taxes Payable as a Foreign Resident
- Car Loans - In your Business or Personal Name?
- Is it time you outsourced your business processes with YML?
- Superannuation Increases – Trust Members + Contribution Caps + Guarantee Contribution Base + Pension Caps – from 1 July 2021
- Property Development – Deed of Partition and Transfers (NSW)
- Virtual Bookkeeping at your Service
- Splitting your Superannuation Contributions with your Spouse – A Way to a Better Retirement for Couples
- Deduction of Interest on Vacant Land – Draft Ruling
- Single Touch Payroll (STP) Phase 2: What Your Business Will Have to do to Comply and How YML can Help
- Insurance in your Superannuation Policy
- It’s time to apply for a Director Identification Number (DIN)
- Australia’s Company Tax Rate lowered to 25%
- Transfer Balance Caps and what they mean for your Superannuation and Succession Plan
- Cryptocurrency – What are the Taxation Implications?
- ACT NOW – YML can help you with Phase 2 Single Touch Payroll (STP)
- Superannuation Guarantee – Quarter 2 Late Payments Due and New 2022 Threshold Removal
- Transferring asset ownership to a SMSF is an in specie contribution
- It’s time to apply for a Director Identification Number (DIN)
- Do yourself a Service – Partner with YML’s Bookkeeping Service and be ready for FYE 2022
- Superannuation Contribution Laws are changing – Boost your Retirement Savings from 1 July 2022
- 2022 Year-End Tax Planning – Our Tips
- ‘PAYG Instalments’ – What is this system? When is it used?
- ACT NOW – YML can help you with Phase 2 Single Touch Payroll (STP)
- Trust Distribution Minutes – SIGN before 30 June 2022
- Australia’s Minimum Wage Increases effective 1 July 2022
- Investors and SMSF Members: How to Spot an Investment Scam
- Australia’s Holiday Maker Visa – Latest News
- Australia’s Labour Shortage – Could Co-Sourcing be the answer for your business?
- SMSF Withdrawal and Re-Contribution Strategy: Tax Benefits
- Superannuation Guarantee Contribution – Reporting and Payments via STP
- Do you have yours by now? – Director Identification Number (DIN)
- Superannuation death benefits – review succession
- Succession – Do you have a Five-Year-Plan and an Exit Strategy?
- Important tools for your business: Cash Flow and Budgeting
- Multiple Offset Accounts – Save money in more ways than one
- What to know about Property as an Investment Asset Class
- NEW Superannuation Guarantee (SG) Rate – Employers’ Obligations
- Your SMSF – How much may you contribute under the Bring Forward Rule?
- Check your Single Touch Payroll (STP) software system – Is it fully ‘Phase 2’ compliant?
- Transferring asset ownership to a SMSF is an in specie contribution
- Watch Out! You may be liable for a maximum criminal penalty of $13,200 if you have not acquired your Director ID Number by now.
- SMEs’ Obligation under Australia’s Renewable Energy Target (RET) Scheme
- Tax Audit Insurance – Why is it important?
- End-of-Year Festive Season – Claims and Tax Exemptions
- Australian Taxation Agents require Clients to provide Photo ID
- Welcome to YML Legal – Legal Support in English and Mandarin
- How to Improve your Company’s Environmental and Social Impact
- PAID Family and Domestic Violence Leave from 2023
- NSW Surcharge Purchaser Duty and Land Tax – NEW Exemption for Foreign Owners from Four Countries
- Why engage a Lawyer for Advice on State Taxes and Duties?
- Long-term Value Investing – How it is suited to SMSFs
- Do you want a Tax Incentive for your Company to conduct Research and Development?
- Take Advantage: Capital Gains Tax (CGT) Concessions for Small Businesses
- Australian Taxation Agents require Clients to provide Photo ID
- Superannuation Guarantee Contribution: Consequences for Late Payment
- Ways to stay afloat when interest rates keep going up
- You may access your Superannuation Benefits… When?
- Superannuation Guarantee Rate – Change from 1 July 2023
- NEW Register of Foreign Ownership – Do you need to notify it?
- A General Guide to Property Transfers and ATO Clearances
- What can you do if you do not agree with a Notice of Valuation of your land?
- Watch Out! You may be liable for a maximum criminal penalty of $16,500 if you have not acquired your Director ID Number.
- Australian Taxation Agents require Clients to provide Photo ID
- What are your SMSF Tax-deductible Expenses?
- How to remove a Property Caveat in NSW
- Is Co-Sourcing the Solution to help your Business thrive?
- Who is a Related Party in your SMSF and why should you know?
- Bring Forward Rule to top up your Superannuation
- Next 5000 - Private Tax Group - Tax Performance Program
- Land Tax Change – Provisional Primary Residence Exemption
- Landholder Duty – Changes to the Ownership Percentage Threshold
- Navigating the Waters of Tax Audits: The Benefits of Tax Audit Insurance for Taxpayers
- NEW Stage 3 Income Tax Cuts from 1 July 2024
- Refresher : ‘Downsizer’ Superannuation Contribution
- What is your EOFY accounting strategy? How will you finance your EOFY business asset acquisitions?
- Outsourcing and Co-sourcing to increase Productivity in a shifting Economy
- Restructure Relief Options – Small Business Restructure Rollover
- Virtual Bookkeeping Services for streamlining your Business
- Who should register for Land Tax?
- How Transition-to-Retirement (TTR) works
- Not-for-Profits and Deductible Gift Recipients – Eligibility
- A Trump Presidency – What it means for Australian Investors
- Other Topics
- WORK RELATED CAR EXPENSES - WHAT'S LEGAL?
- WHAT IS THE BEST WAY TO PAY OFF YOUR DEBTS?
- New Withholding for Non Residents
- Business Protection Insurance
- Aiming to Make a Final Non Concessional Superannuation Contribution for 2016? Be Careful!
- Getting Organized and Planning Effectively This EOFY
- 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
- RPA
- Shareholder's Agreements
- FAMILY TRUST DEED VARIATION
- ENCOURAGING NEWS FOR Permanent residency (pr) APPLICANTS
- Tax
Economic Stimulus 2021 – Latest Government Incentives – What can your business receive?
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:
- 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.
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:
- 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.
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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.
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:
- Supporting investment
- Re-financing pre-existing debt*, including SME Guarantee Scheme amounts (*Check eligibility criteria)
- Purchasing commercial property
-
What is on offer?
- 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
-
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.
The Federal Government will support eligible NSW micro-businesses with a fortnightly payment of $1500 per fortnight during the current Greater Sydney lockdown. To receive a cash flow boost to assist you with paying business expenses incurred from 1 June 2021, you must meet certain reduction-in-turnover criteria.
Businesses, non-employing and employing, holding an Australian Business Number (ABN) and with an annual turnover of between $30,000 and $75,000 on 30 June 2020, may be eligible if they show a two-week period since 26 June 2021 where turnover reduced by at least 30 percent compared with the same period in 2019.
-
Click on the link below if you are a business owner for you to receive the 2021 COVID-19 Micro-business Grant
https://app.hellosign.com/s/3b5wKxxM
Applications end on 18 October 2021.
2021 COVID-19 NSW Business Grant
NSW businesses, sole traders and not-for-profit organisations who have experienced financial hardship due to public health ordered restrictions may be eligible for a one-off business grant to assist you with paying business expenses incurred from 1 June 2021:
Total Grant Amount | Decline in Turnover |
Minimum 2-week Period from 26 June 2021 compared with same period in 2019 | |
$7500 | 30 per cent or greater |
$10,500 | 50 per cent or greater |
$15,000 | 70 per cent or greater |
To receive this business grant, it is expected that organisations maintain their staffing level – full-, part-time and casual – as of 13 July.
Businesses, non-employing and employing, with an annual turnover of between $75,000 and $50 million on 30 June 2020, as well as having total annual Australian wages of $10 million or less may apply.
-
Click on the link below if you are a business owner for you to receive the 2021 COVID-19 Business Grant
https://app.hellosign.com/s/FAUESBBG
Applications end on 13 September 2021.
JobSaver Payment
JobSaver is a payment to support cash flow for impacted businesses and enable those employers to maintain their NSW employee headcount (as of 13 July 2021).
Eligible employers may receive fortnightly payments backdated to cover costs from week 4 (from 18 July 2021) of the Greater Sydney lockdown.
A minimum $1500 per week to a maximum $10,000 per week is available and is equivalent to 40 per cent of the weekly NSW payroll as determined by your most recent Business Activity Statement (BAS) provided to the Australian Taxation Office (ATO) by 26 June 2021.
Eligibility criteria include having a national aggregated annual turnover of between $75,000 and $50 million for the year ended 30 June 2020.
Individuals running a business with no employees must show that they are the sole earner of that business may also be eligible for $1000 per week from week 4 (from 18 July 2021) of the Greater Sydney lockdown.
-
Click on the link below if you are a business owner for you to receive JobSaver
https://app.hellosign.com/s/8VFDXz2Z
Applications end on 18 October 2021.
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.
-
Click on the link below if you are a business owner for you to receive JobMaker
https://app.hellosign.com/s/8qkWmCLT
Applications end on 6 October 2022.
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 valid until 31 August 2021, an extension given the recent restricted movement periods.
2021 COVID-19 Land Tax Relief
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.
-
Applications end on 31 January 2022.
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.
For eligibility criteria, please see the NSW Government’s guidelines: Guidelines_NSW-Performing-Arts-COVID-Support-Package.pdf (kinstacdn.com)
Applications are now open (since 23 July 2021).
NSW Payroll Tax Relief
NSW payroll tax liabilities are currently deferred for all NSW employers until 7 October 2021.
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 25 per cent.
The NSW Government will provide full clarification by the end of August 2021 of this payroll tax incentive.
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.