Maximise Your Super and Slash Your Tax Bill: The Power of Prepaying Contributions
Imagine waking up on 1 July 2024 knowing you’ve slashed your tax bill and supercharged your superannuation. For those of you who have already had their end of year tax planning meeting, we have already looked at the benefit of you doing just that, prepaying super! Sounds too good to be true, RIGHT? But it isn’t! Thanks to the Commissioner of Taxation’s guidance, businesses and taxpayers can now prepay deductible and after-tax contributions into superannuation funds without facing penalties. This strategy not only reduces tax liabilities but also maximises the funds invested in a low-tax environment. Let’s break it …
Apply now for the $3,000 Small Business Recovery Grant
The new Small Business Recovery Grant for up to $3,000 is now open for applications to help you rebuild your business. …
Business Resilience: Understanding Your Market
As accountants, we want our clients to build resilient and successful businesses. That means overcoming the challenges and pursuing the opportunities presented by current market conditions. Leaders of resilient businesses ensure they understand their market, especially the customers and competition. …
Could JobKeeper Lead to an ATO Audit?
Whether your business already employs apprentices, or you want to explore the benefits. Join the Business Australia discussion with Apprenticeship Support Australia to explore the incentives available and how onboarding apprentices can help your business. …
The Power of Price… Or Should We Talk Value?
If you’re a Bruce Springsteen fan, you might enjoy his song “The Price You Pay” (also covered by country star Emmylou Harris). Roger Daltrey of the Who sings “The Price of Love” while Twisted Sister released “Pay the Price” in 1999. The Doobie Brothers contemplate life in “Too High a Price” while the Thompson Twins think back to their youth in “The Price”. …
Business Resilience: Vision & Goals
As accountants, we strive to help our clients build resilient and successful businesses. In the current business environment, there are both challenges and opportunities. One component of resilience is to have a clear vision for the business. That means everyone should understand the business ‘destination’, the ‘why’ or the ‘rationale’ for the business. …
Self-Managed Super Fund Updated Audit Requirements
We hope you are well & safe and thank you for your continued support during this COVID-19 pandemic. As you may already know over the past few weeks, there are various measures that have been announced by the Federal and State governments to deal with this pandemic and to mitigate its financial impact. Some of these measures impact Your Self-Managed Superannuation Fund (SMSF) and the related audit requirements. …
Upcoming Key Business Dates – State by State….
Keeping up to date with the most relevant business information and deadlines is a challenge. That’s why we have collated key dates to make it easy for you to stay ahead. If you need any further details don’t hesitate to contact the team on 02 4228 4877 or info@journey2.com.au …
JobKeeper Payments – Alternative Turnover Eligibility Tests
There are alternative tests for the fall in turnover for businesses that do not meet the existing ‘basic’ test. The alternative will allow businesses not previously eligible for JobKeeper to apply. …
From Survival to Resilience: Shifting the Focus
Business survival has been a popular topic in recent weeks but businesses are shifting their focus to resilience. What does it take to build businesses that can survive AND thrive in the longer term… while insulating them from a recurrence of recent events? It’s not about picking up where we left off because what worked in the past may not work in the future. Let’s take a look at the attributes of resilient (or sustainable) businesses. …
