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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...

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FBT_March

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...

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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...

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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...

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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...

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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...

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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...

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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...

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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...

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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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