Explainer: Why create a holding company
There are many different ways to structure your business; one of which is to establish a holding company. If this term is new to you, here’s some information about how it works and why it’s a strategy that might make…
Read MoreEnd-of-year finalisation through STP needs to be completed by 14 July and Old reports in Xero are retired on 31/7/23
End-of-year finalisation through STP Employers reporting through Single Touch Payroll (STP) need to make a finalisation declaration by 14 July each year. Making a finalisation declaration You need to make a finalisation declaration by 14 July each year to ensure…
Read MoreIt’s tax planning time!
This is a quick reminder that we are well and truly into tax planning time, and you should be reviewing your tax strategies for the end of financial year. If you haven’t already spoken to us about your tax planning…
Read More2023/24 Federal Budget Summary
What the budget means for you, your business and your super. Here is a link to our 2023/24 Federal Budget Summary. Key measures include: Business: · $20,000 instant asset write-off – From 1 July 2023 until 30 June 2024, the…
Read MoreWhat happens if a sole director dies?
It’s something people don’t really enjoy talking about, but the sudden death of a company director has the potential to impact many people outside of their family. Here’s a look at why you need a succession plan and what happens if…
Read MoreFringe benefits tax and electric cars
The Government has announced a proposal to: • remove fringe benefits tax (FBT) on eligible electric cars from 1 July 2022, and • include the value of these exempt car fringe benefits in the calculation of an employee’s reportable fringe…
Read MoreCyber Security Tips and How Imagine Accounting Handle Cyber Security
In light of the increasing number of cyber-attacks we wanted to provide you with Cyber Security Tips as well as ensure you that Cyber Security Protection has and continues to be extremely important at Imagine Accounting. Cyber Security Protection at…
Read MoreFederal Budget | Key takeaways
Last night Labor handed down its first Federal Budget since the election earlier this year. To help you determine how the Budget impacts you and your business we have put together A Guide to the 2022-23 Budget 2.0.. Key measures…
Read MoreWhat changed on 1 July and NSW Floods Government Disaster Recovery Payment
As we commence the new financial year here is a reminder of what changed on 1 July 2022. Business · Superannuation guarantee increased to 10.5% · $450 super guarantee threshold removed for employees aged 18 and over · Small business…
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