The rise and rise of OnlyFans, YouTube, TikTok and other online platforms offer amazing opportunities for content creators to generate an income from their side hustle. As these opportunities increase alongside the sometimes-considerable income streams, the Australian Tax Office (ATO) has issued warning to the rising industry. How are content creators taxed? An update released by […]
When is a side hustle a business? Read More »
The best interests duty for mortgage brokers is a statutory obligation for mortgage brokers to act in the best interests of consumers (best interests duty), and to prioritise consumers’ interest when providing credit assistance (conflict priority rule). These two obligations are collectively referred to as the Best Interests Duty. Based on the Royal Commission’s recommendations,
What is the Best Interests Duty for mortgage brokers? Read More »
The end of the financial year is fast approaching. Have you made a start on your trust distribution minute and/or intend to pay your beneficiaries a dividend? If you have a discretionary trust, then 30 June 2023 is an important date for you. The purpose of a trust is to separate the legal and beneficial
Trust Distribution Minutes and Dividend Statements: what you need to know before June 30 Read More »
The Federal Government has received final submissions for a raft of proposed industrial relations reforms it hopes to introduce to parliament later in the year. So, what do we know about the possible changes and how could they affect employers? Five key areas of change Information released by the Department of Employment and Workplace Relations
Proposed Industrial Relations reforms and what they mean for business Read More »
On 12 December 2022, the Treasury Laws Amendment (Electric Car Discount) Bill 2022 was legislated to provide an FBT exemption for eligible electric vehicles. This retrospectively applies to eligible car benefits provided from 1 July 2022. The objective of the exemption is to encourage a greater take up of electric cars by making them more affordable and
New FBT exemption for electric vehicles Read More »
Attracting and retaining good staff is essential for your business. If you’ve given your employees perks and benefits such as car parking or gym memberships, you should consider the Fringe Benefit Tax (FBT) implications. These extras can be a great bonus on top of salary and wages – but they can attract an FBT liability.
How well do you know Fringe Benefit Tax? Read More »
As devastating rains continue in Queensland and New South Wales, small businesses find themselves facing another crisis and seeking support. There are several Queensland government flood relief and disaster grants now available to individuals and businesses affected. This article details what is available now, noting some grants are being modified and added as more Local
How to apply for Queensland Government flood relief and disaster grants Read More »
Setting up a new business is often an exciting and challenging journey. Getting set up and seeking proper advice from the start will put you on a path to success. So, have you thought about trademarking your business name? Or has someone else beaten you to it? You’ve completed all the required registrations, you have
Have you trademarked your new business? Read More »
For many businesses, we are in and approaching the busiest time of the year. Often this means you need employees to work additional hours or make roster changes. You also need to factor in public holidays and their choice about whether they work those or not. It’s important to make sure you’re meeting your obligations
Get your rostering right over the holiday season Read More »
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