Tax

Tax exemption for ‘granny flat’ arrangements

To protect older Australians, the Government has moved to formalise ‘granny flat arrangements’ by providing an incentive to protect all parties in the arrangement.

The 1 July 2021 superannuation changes

Changes from 1 July 2021 will impact on how much money you can contribute to superannuation and how much you can have in your retirement phase superannuation account.

ATO’s good-faith approach to crypto won’t last much longer

The ATO has upheld its good-faith approach to the accounting of cryptocurrencies, however it isn’t likely to last much longer.

For those involved in cryptocurrencies, now is the time to really pay attention to the current taxation rules before the ATO tightens enforcement of undeclared crypto assets.

The JobMaker Hiring Credit

Here at Paris Financial we strive to pass useful and timely advice onto all our small business clients – that’s why we believe we are the small business tax champions!
The following is our comprehensive summary of the recently introduced JobMaker scheme. If you need any further assistance or have any queries, please contact us.

Refunds for Tax Losses

If your company has made a loss, you may be able to claim a tax refund for tax previously paid on profits.

Has COVID-19 devalued your business?

If you are selling your business, merging, acquiring, or inviting in new investors, you need to understand the value of your business. But, to what degree does the pandemic impact on value? Should you discount or hold firm to pre COVID-19 performance on the basis that ‘we’re going to come out of it eventually’?

The Little Disaster – Structure for Success

Having the right structure can be the key difference for financial independence. Regardless of whether you are running your business or selling it, structure is everything. The New Financial Year is a great time to be looking at your business structure. The small business tax laws in Australia are very flexible and give businesses a chance to restructure and get themselves right.

Increased flexibility for Parental Leave Pay for self-employed

From 1 July 2020, parents accessing the Government’s parental leave pay (PPL) scheme will have greater flexibility and options.  Targeting the self-employed and small business owners, the changes introduce a new flexible paid parental leave pay period of 30 days. Previously, new parents could apply for PPL for a continuous block of up to 18 weeks.