Trending
With businesses suffering hardship due to the effects of the Covid-19 pandemic, the government has put in place a number of different measures to provide them with a financial helping hand until they can start trading at more usual levels. One of the financial stimulus measures which have been put in place is the cash…
The necessary government restrictions on economic activity which have been put in place in an attempt to reduce the spread of COVID-19 have had a devastating effect on many businesses. For some, corona virus has meant an immediate cessation of trading; for others, the impact of the virus has been more subtle, but potentially as…
Governments across the globe are putting in place a variety of different measures in an attempt to halt the spread of COVID-19. Inevitably, some of these measures have a significant impact on the economy but are necessary in order to slow the spread of the coronavirus. In addition to the effects social distancing and other…
The Australian Government has announced a $17.6 billion stimulus package on the 12 March 2020 in order to prevent Australia falling into a recession. Further, announced on the 22 March 2020 an additional $66 billion stimulus package on top of the previously announced $17.6 billion stimulus was announced. This is due to the economic impact…
Every day the continuing spread of corona virus brings more developments as governments worldwide introduce measures like social distancing and quarantine to manage its effects. Stock markets are taking hits. Financial projections are shrinking. And it seems no business is immune to the disruption this virus is bringing. But at Pherrus Financial Services we are…
The Australian Taxation Office (ATO) has been granted new powers allowing it to disclose information surrounding businesses’ tax debts to registered credit reporting bureaus. This legislation has been in the works for a while now, having been on the government’s agenda since 2014. It finally received royal assent on 28 October 2019. The ATO’s new…
Superannuation Guarantee & Salary Sacrificing Superannuation has always been about Future Money. Money stored away for your future. Your super is your future. Payments towards that future is known as a super guarantee contribution or concessional (pre-tax) contributions. You also have the ability to make Voluntary contributions on top of this amount. Boosting your super…
Not Meeting Your ATO Arrangements Makes it Difficult to Borrow the Funds You Need Have you entered into an arrangement with the Australian Taxation Office (ATO)? Were you unable to pay your tax debt on time and have opted for a pay-by-instalment plan? Have you missed a payment? Unfortunately, ATO arrangements, if not met, can…
The Australia Taxation Office (ATO) has committed to protecting honest businesses by tracking down deceitful or illegal activities in towns and cities across the country. In early November 2019, the ATO will visit Bankstown. Here’s a bit more information regarding the ATO’s pledge to protect honest businesses and what their visit to Bankstown means for…
At the beginning of each financial year, the Australian Taxation Office (ATO) announces a Tax Ruling. This outlines any changes made to the effective lives of assets – typically plant, equipment, and commercial property assets. This year, however, in tax ruling (TR) 2019/5, the ATO detailed several changes to residential property assets. These changes are…