Your trusted business advisor is key to ensuring that your business is structured correctly, based on your specific, current needs and future objectives. Optimal structuring means that your business is structured to set you up for success, while managing and mitigating risks where possible. Asset protection is the number one consideration that an experienced business [...]
Welcome to Hoffman Kelly, the ultimate consulting firm in Stones Corner, Brisbane and the surrounding area. As one of the best, it goes without saying that the company offers the most professional business advisory and accounting services. Their expertise covers companies, partnerships, small and medium businesses, trusts, individuals, and self-managed superannuation funds. Main services include: [...]
Downsizer Contributions – Get more into super when you sell your home! From 1 July 2018 the ATO introduced the downsizer superannuation contribution. For people who are 65 years or older and meet the eligibility criteria, you can choose to make a contribution up to a maximum of $300,000 (each) into your superannuation from the [...]
What is JobMaker? JobMaker is a credit available to eligible businesses and non-profit entities that create new jobs (not if you are merely replacing someone who left). The hiring credit is available for jobs created from 7 October 2020 until 6 October 2021 and provides: $200 per week for new employees between 16 to [...]
You may often wonder why the ATO decide to review or audit your business. One of the reasons may be that your business has a specific financial item which ‘stands out’ from the remainder of similar businesses in Australia. The ATO have Small Business benchmarks and Industry benchmarks which they use to compare your [...]
Released in the Federal Budget last year, the Government announced the JobMaker Hiring Credit scheme which is an incentive for businesses to employ additional job seekers aged 16-35 years. This scheme received royal assent on 4 December 2020 and registrations are now open. Eligible employers may be able to access the JobMaker Hiring Credit [...]
As a business grows new entities are frequently created to perform functions in the business group. In most cases, these new entities will have associated compliance requirements, which will generally include GST obligations. The additional compliance requirement for new entities generates administration costs to ensure amounts are correctly reported and remitted to the Australian [...]
As part of the Federal Budget, the government released measures designed to encourage businesses to employ additional job seekers. One measure was called JobMaker, which is aimed at getting young job seekers back in the work force. Below we summarise the initial outline of the JobMaker program. What do you get under JobMaker if [...]
The 2020 budget was delivered on Tuesday. The scope of the budget was huge, and so were the dollar amounts involved. We have put together this guide to assist our clients with what we believe are the most relevant measures (however there are many other measures not included due to the sheer number involved). [...]
The first round of JobKeeper ends on 27 September, and JobKeeper 2.0 commences on 28 September. The second round has different eligibility requirements for employers, different eligible employees , and different rates of payments than the original scheme. If you are an employer who wishes to continue receiving JobKeeper payments you need to: [...]
