Are you an Australian employer providing non-cash benefits to your employees? Then you need to know all about Fringe Benefits Tax (FBT), the tax imposed on such benefits. The FBT year runs from April 1st and ends on March 31st. Employers who provide fringe benefits to any employee or associate must lodge an FBT [...]
Are you aware of the upcoming changes to the current Temporary Full Expensing regulations and what this means for your business? If not, here is everything you need to know! Navigating Australian tax laws and regulations can be tricky, especially when it feels like the rules are ever-changing. One of the more significant changes [...]
In 2023, small businesses have an opportunity to invest in their future and stay competitive in the digital economy with two government initiatives: Small Business Technology Investment Boost and Small Business Skills and Training Boost.The boost measures are not currently law, but draft legislation is being considered. Once passed through parliament, the programs will allow [...]
Business improvement strategies are essential for medium-sized private businesses to stay competitive and grow in today's ever-changing market. Given it’s the start of the year, there is no better time to review, develop and implement business improvement strategies. Here are some key strategies collated from our team of experts, that can help improve the [...]
As we take on the new financial year, we're here to recap the new and continuing measures to keep front of mind as we roll into the new year. Key Changes for Individuals COVID-19 Tests - deductions are available for testing kits purchased for work-related purposes. E.g. if you had to take a test to [...]
A business without a budget is a business without a plan or direction. What is a Budget? Every business, regardless of headcount, turnover, or industry, will benefit from setting a budget. A budget provides a plan and an understanding of the impact of changes to a business which in turn allows for business owners to [...]
Everyone knows the secret to any good tax time is planning. At Hoffman Kelly, we’ve got all the tips on how you can make this tax time a smooth experience. Our third instalment of ‘Tax Ready with Hoffman Kelly’ is all about assets. More specifically, the Temporary Full Expensing (TFE) of depreciating assets. The TFE [...]
You may have heard the term, business advisor, as it is referred to in many contexts. So what is a business advisor? What do they do and does your business need one? What is a business advisor? A business advisor is a trusted advisor to a business who works side by side with business owners [...]
2020 was a really tough year with plenty of speed bumps, but now is the time to move forward and lay the financial groundwork for a better 2021. Reconsidering business plans that have been affected during such uncertain times is crucial for business growth and to help cash flow. To make it happen, the number [...]
Without a shadow of a doubt, to retain good staff, every business advisory firm will suggest providing training and professional advancement so employees can succeed in their jobs. Hoffman Kelly, one of the best business advisory and consulting firms in Brisbane and the surrounding area, offers the ultimate in services, including staff development. If employees [...]
