Super Changes

Business Development Specialist - Ceebeks Business Solutions for GOOD

With a new financial year there come a raft of changes, particularly in the superannuation space. On 1 July 2021, the super guarantee rate rose from 9.5% to 10%. The ATO understands some pay periods will cross over between June and July when the rate changes. The percentage employers are required to apply is determined based…

How a debt optimisation strategy works

Business Development Specialist - Ceebeks Business Solutions for GOOD

Check this formula out! Business + Home Loan = Debt Optimisation Strategy You might be wondering what the above equation means. Well, many of you have a small business and some of you also have a home loan but did you know that with the right structuring of these two by using a debt optimisation…

Here’s how to save yourself a headache at Tax Time

Business Development Specialist - Ceebeks Business Solutions for GOOD

For a number of years now we have been offering our customers a pre-year-end tax planning meeting full of cutting edge tax saving strategies, and these are becoming increasingly popular. Popular because the tax saved can be used to pay down debt, have a family holiday, increase retirement savings or buy that new car! Having…

Hiring your children and family members can be a powerful tax strategy

Business Development Specialist - Ceebeks Business Solutions for GOOD

There is a legal principle that some small business owners cannot employ themselves. This means a sole trader, individuals in a partnership, and individuals acting as trustees for a discretionary trust, cannot be employed by their business. But there is, however, nothing stopping other family members being employed by your business. Just because someone employs…

Our top 10 tips for avoiding an unwelcome festive season tax bill

Business Development Specialist - Ceebeks Business Solutions for GOOD

The Christmas party season is almost upon us and over the next few weeks leading up to the holiday break, lots of Australian businesses will pay for their Team to let their hair down at the annual end of year celebration. Our top ten tips for avoiding an unwelcome festive season tax bill: 1. If…

2020-21 Federal Budget: What does it mean for you?

Business Development Specialist - Ceebeks Business Solutions for GOOD

Last night the bar was set by the Treasurer, Josh Frydenberg, in his Budget when he delivered a plan to lead the economy out of the wilderness, by encouraging jobs, investment and household spending. His Budget certainly featured many announcements aimed at encouraging hiring, investment and spending. The difficult task now will be to encourage…

JobKeeper changes coming in September

Business Development Specialist - Ceebeks Business Solutions for GOOD

The government has announced changes to the JobKeeper scheme. The Treasury’s review found that the subsidy was still “needed” but required a “test to ensure that JobKeeper is well targeted”. Be prepared This means there will be changes to your current situation and your entitlements will be affected. The details of the changes are being…

Your 2020 EOFY Reminders & Action Items

Business Development Specialist - Ceebeks Business Solutions for GOOD

This has probably been the most difficult year ever for business owners due to the impact of COVID-19. And this makes Tax Planning for 2020 and key actions before 30 June more important this year than for any previous year. As a business owner, there are many obligations that you need to consider and action…

Trademarks: Are they tax deductible?

Business Development Specialist - Ceebeks Business Solutions for GOOD

Recently we have set out to protect the intellectual property for our business brands which help our business stand out in the marketplace. Over the 30 years that we have been in business, we have been developing and building our brand image and have applied for and registered business names & logos as trademarks. But…

Short cut method for claiming Home Office Running Costs

Business Development Specialist - Ceebeks Business Solutions for GOOD

With many of us now running our businesses or having our work-related duties conducted remotely during the lockdown, can we claim home office type expenses on our 2020 income tax return? The Australian Taxation Office (‘ATO’) has announced a temporary simplified short cut method to make it easier for individual taxpayers to claim deductions for…