Brealey Quill Kenny industry news and updates

For small business entities operating in a company structure, the reduced corporate tax rate of 28.5% will apply for the 2015-16 financial year. To be eligible for this, the company must be carrying on a business and have an aggregated...

The new Small Business Restructure Rollover (SBRR) applies from 1 July 2016 and its objective is to provide greater flexibility for small business owners to restructure their businesses and the ownership of their business assets without having to deal with...

From 1 July 2016 the following car threshold amounts apply. Income tax There’s an upper limit on the cost you use to work out the depreciation for the business use of your car or station wagon (including four-wheel drives). You...

Story: You get a phone call. The caller says they’re from the ATO. They want you to pay a debt (which you know nothing about), or are asking for your personal details. But it doesn’t seem quite right. Maybe the...

You no longer need to order the form and wait for it to be mailed to you. Just download it or even better ask your new employee to download the form and fill it in on the screen. Once it’s...

Stating in a written agreement that your worker is a contractor doesn’t mean they are, nor does it protect you from potential penalties for getting it wrong. This is a myth. The fact is, if your worker is legally an...

Running a business can be tough, so you may be doing other things outside your business to supplement your income, such as participating in the sharing economy. What is the sharing economy? The sharing economy connects buyers and sellers, usually...

For each eligible employee who undertakes a Traineeship, your business could potentially exclude that employee’s wage from WA Payroll Tax (5.5%). Example: For an employee earning $50,000, and based on the Payroll Tax of 5.5%, your business could save $2,750...

Last year government agencies teamed up with small business owners to work out how they could give employers more clarity about their responsibilities when hiring staff. The Taking on an employee small business fix-it squad has developed a simple checklist that...

You can receive a wage subsidy of up to $10,000 when you hire and retain eligible mature age staff through the Australian Government’s recruitment service jobactive. Mature workers aged 50 years and over can help your business grow and thrive....