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Selling the family home after 1 July 2018? Consider downsizer super contributions

Following the significant changes to contributions caps on 1 July 2017 that came about as a result of super reform, the Government has now introduced a new contributions cap - the Downsizer Contributions Cap effective from 1 July 2018. This...


Fringe Benefits Tax: Obligations for employers

With the Fringe Benefits Tax (FBT) year coming to an end on 31 March 2018, it’s a good time to brush up on FBT and what it means for you and your business. The FBT net is quite broad and...

Business growth

Business growth fund program

The Business Growth Fund Program, delivered by the Office of Small Business, is a grant program which provides targeted funding assistance for small and medium businesses that demonstrate high-growth and employment aspirations. The objectives of the program are to enable...


Are you prioritising your business over your personal wellbeing?

Operating your own business can be tremendously hard work, and the dream of running a successful enterprise while maintaining a positive work/life balance can seem unattainable.  Suncorp’s SME vs Me report1 revealed some concerning statistics for small business owners, including...


Merry Christmas from McGarry Partners

Season's Greetings! Our office will be closed from 12:00pm on Friday, 22 December 2017.  We will re-open at 8:00am on Tuesday, 2 January 2018. McGarry Partners would like to wish you and your family a very Merry Christmas and a...


Single Touch Payroll Reporting – What you need to know

The introduction of Single Touch Payroll (STP) Reporting represents a significant change for employers, as you may be required to report payments made to employees to the ATO in real-time. As an employer, when you process your payroll, your STP-enabled...


Minimising your IT security risk footprint

Cyber-attacks against Australian businesses and IT infrastructure continue to rise. While the threats are ominous, businesses have an opportunity to re-establish effective security strategies. Australian businesses and organisations experienced 47,000 security incidents in the past year. A 15% increase on...


End of financial year obligations for employers

The 2017 financial year has come and gone, but if you have employees, you still have a number of obligations to meet.  As a business owner or employer, you must: provide your employees with a 2017 PAYG payment summary by...


Small business tax breaks: Are you eligible?

As part of the 2016-17 Budget, the Australian Government announced an increase to the small business entity turnover threshold from $2 million to $10 million. This means that, from 1 July 2016, more businesses are able to access a range...


Tax incentives for investing in ESICs

In March 2016, the Australian Government announced new tax incentives for innovation, aimed at encouraging new investment in Australian, 'early-stage, innovation companies' (ESICs). Under laws which came into effect on 1 July 2016, investors in a qualifying early-stage, innovation company...

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