stephanie.o@dfkcrosbie.com.au

apprentices and JobMaker

JobMaker hiring credit: What you need to know

The JobMaker Hiring Credit scheme was passed into law in mid-November 2020. JobMaker was part of the 2020-21 Federal Budget, and will operate until 6 October 2021. It is designed to improve the prospects of young individuals getting employment, by incentivising employers to hire them, following the devastating impact of COVID-19 on the labour market. …

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planning

Elements of a Business Plan

A business plan establishes the goals and objectives of a business and outlines how they will be achieved. It is vital, especially for small businesses, to review progress and update processes to achieve targets. Business plans should include: Executive summary: Identify what your business mission statement is, outline your company operations, your management style, and …

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businessowner sorting out taxes

Calculating income tax deductions

The calculation of income tax for businesses becomes more complex as business activities and income streams grow. There are two primary considerations that arise when calculating income tax: assessable income and deductions. Assessable income This includes all aspects of income from all your business activities and any other business income: Cash income Cryptocurrencies Commissions, investment …

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hospitality

Dine & Discover NSW vouchers – what your business needs to know

The NSW Government is launching Dine & Discover NSW to encourage the community to get out and about, supporting dining, arts, and tourism businesses and stimulating spending in the economy.  Businesses in NSW will be able to sign up for the Dine & Discover voucher program.   How does Dine & Discover NSW work? Every NSW resident aged 18 and …

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Filing

Digital record-keeping

Businesses should aim to move towards digitising their tax, super and employee-related documents as per recommendation by the ATO. Digital record-keeping has many advantages and can help to: Streamline accounting practices by utilising appropriate software so that you can focus on the business as opposed to ensuring the accuracy of manual/paper records. Keep track of …

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