It’s not uncommon for business owners to pour their money into a business to get it up and running and to sustain it until it can survive on its own. A recent case highlights the dangers of taking money out of a company without carefully considering the tax implications. A case before the Administrate […]
Getting back what you put in: Loans to get a business started Read More »
The Fringe Benefits Tax year (FBT) ends on 31 March. We explore the problem areas likely to attract the ATO’s attention. Electric vehicles causing sparks In late 2022, the Government introduced a concession that enables employers to provide some electric vehicles to employees without incurring the 47% fringe benefits tax (FBT) on private use.
The Fringe Benefits Tax traps Read More »
Electricity is the new black. Gas and other fossil fuels are out. A new, limited incentive nudges business towards energy efficiency. We show you how to maximise the deduction! The small business energy incentive is the latest measure providing a bonus tax deduction to nudge the investment behaviour of small and medium businesses, this
$20k deduction for ‘electrifying’ your business Read More »
The CountPro team was thrilled to take out two awards at the recently held 2023 Federation University Commerce Ballarat Business Excellence Awards. In their 35th year, the Federation University Commerce Ballarat Business Excellence Awards aim to celebrate and support local businesses in all they have achieved and contribute to Ballarat. Held at the end of
Business Awards Success Read More »
What is the end game for your business? Succession is not just a topic for a TV series or billionaire families, it’s about successfully transitioning your business and maximising its capital value for you, the owners. When it comes to generational succession of a family business, there are a few important aspects: Succession of
Succession: What does it take to hand your business to the next generation? Read More »
A summary of the important changes that came into effect on 1 July 2023. Employers & business Superannuation guarantee increases to 11% from 10.5% National and Award minimum wage increases take effect. The minimum salary that must be paid to a sponsored employee – the Temporary Skilled Migration Income Threshold – increased to $70,000
What changed on 1 July 2023 Read More »
The 120% skills and training, and technology costs deduction for small and medium business have passed Parliament. We’ll show you how to take maximise your deductions. Almost a year after the 2022-23 Federal Budget announcement, the 120% tax deduction for expenditure by small and medium businesses (SME) on technology, or skills and training for
The 120% technology and skills ‘boost’ deduction Read More »
The team at CountPro are excited and proud to have been selected as finalists in the following categories of the 2023 Federation University Commerce Ballarat Business Excellence Awards: nbn Local Professional Services Business Award, along with Franklin Copywriting and Buninyong Community Bank; and The WIN Network Customer Service Award, along with SMS Integration and
2023 Federation University Commerce Ballarat Business Excellence Awards Read More »
Although not announced as part of this year’s Federal Budget, it’s important for employers to note that the superannuation guarantee (SG) rate will increase from the current 10.5% to 11% on 1 July 2023. Employers will need to remember to update your payroll system to comply with this increase. The new SG rate applies
Increase to the super guarantee rate Read More »
In a pre-Budget announcement, the Government committed to a Small Business Energy Incentive Scheme that offers a bonus tax deduction of up to $20,000. The Small Business Energy Incentive encourages small and medium businesses with an aggregated turnover of less than $50 million to invest in spending that supports “electrification” and more efficient use
$20k Small Business Energy Incentive Read More »
