- 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
- 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
- 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 2022 – Latest Government Incentives – What can your business receive?
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
Scheme will end on 6 October 2022.
For more info visit https://www.ato.gov.au/General/JobMaker-Hiring-Credit/
NSW Small Business Fees and Charges Rebate
The small business fees and charges rebate has increased from $1,500 to $2,000. Eligible businesses can also claim road tolls for business use.
Financial incentives offered by the NSW Government include eligible businesses being offered up to $2000 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 wages below the NSW Government payroll tax threshold in 2020-21 of $1.2 million.
Whilst running a business, NSW state and local government fees and charges befall most small business owners and sole traders: costs such as council rates, outdoor seating fees, event fees, food authority and liquor licences and tradesperson licences.
Eligible applicants can lodge multiple claims – as these types of expenses arise and are paid – until the $2000 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.
For more info visit https://www.service.nsw.gov.au/small-business-fees-and-charges-rebate
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. Landowners who have already applied for any of the previous relief periods, can also apply for the 2021 land tax COVID-19 relief (1 July 2021 – 31 December 2021) period provided all eligibility requirements are met.
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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 for the 1st of July 2021 – 31st December 2021 Land tax COVID-19 relief have been extended until 28 February 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.
From 26 November 2021 Dine & Discover NSW increased from 4 to 6 vouchers.
Vouchers are available to all NSW residents aged 18 or over and are valid to 30 June 2022.
Takeaway businesses are eligible to register for the scheme.
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Phone YML Chartered Accountants on (02) 83834400 if you wish YML to assist you to register on behalf of your business.
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.
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For more info visit https://www.revenue.nsw.gov.au/news-media-releases/covid-19-tax-relief-measures/covid-19-coronavirus-and-payroll-tax
Alfresco outdoor dining grant
If you are a small or medium food and beverage business wanting to create or expand your outdoor dining area, you may be eligible for a $5,000 rebate under the NSW Government’s Alfresco Restart package.
The rebate is available to the first 5,000 eligible small or medium food and beverage businesses that register.
There are 2 steps involved in the Alfresco Restart rebate:
- Register for the rebate
- Businesses must first register to confirm their eligibility.
- Registrations will close when 5,000 businesses have successfully registered
- Claim the rebate
- Businesses that have successfully registered can claim their rebate from late February 2022 for expenses incurred from 14 October 2021 to 30 April 2022.
- Registered businesses will receive an email when the claims process opens.
- Claims must be made by 30 April 2022.
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For more info visit: https://www.service.nsw.gov.au/transaction/alfresco-restart-rebate
Summer Holiday Stock Guarantee Grant up to $20,000
As COVID-19 restrictions ease, the NSW Government is committed to supporting businesses to reopen, recover and invest in the future. The public health restrictions in response to the winter 2021 COVID-19 outbreak may have impacted on business confidence to reinvest and plan for the future.
Businesses in the retail and hospitality industries may be eligible to apply for either a single grant payment of up to $20,000 to compensate them for the loss of perishable stock, or a single grant payment of up to $10,000 to compensate them for non-perishable stock.
The application is not yet available as there is no Public Health Closure announced as this is the primary eligibility needed. The SME (small and medium enterprise) summer stock guarantee will help eligible retail and hospitality businesses and not-for-profit organisations recover the costs of lost stock if you are required by a NSW Government public health order to close for at least 7 consecutive calendar days between 1 December 2021 and 31 January 2022. There might be a chance that this would be extended.
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For more info visit: https://www.service.nsw.gov.au/sme-summer-stock-guarantee-stock-guarantee-guidelines
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 view our website and contact us on (02) 8383 4400 or by using our Contact Us page on our website.