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Is your business facing a mountain of debt and struggling to keep up with payments? Have you recently received a statutory demand? This formal legal document demands payment from whoever your company owes money to, be it a creditor or the Australian Taxation Office (ATO).  If you have, you’re understandably feeling overwhelmed and stressed. But …
As a small business owner, the prospect of a workers comp audit can be daunting. With the complex regulations and paperwork required, it’s easy to feel overwhelmed and anxious. With Pherrus Financial Services on your side, you can breathe easy. We will help make the audit process simple and stress-free for you. Contact us today …
Workers Comp Audit: What Small Businesses Need To Know Read More »
With June 30th fast approaching, small businesses around Australia are busily ensuring their tax obligations are met. However, in the rush to meet the June 30 deadline, it can be difficult to keep track of the changes coming into effect on July 1st. The changes include increases to the national minimum wage, ASIC fees and …
3 Taxation Changes That Will Affect Your Business In 2022 Read More »
From November 1st 2021, employers will need to complete a different procedure for new employees when it comes to superannuation. The current situation is that if an employee doesn’t stipulate which superannuation fund they would like contributions made to, employers can assign them to a default superannuation fund. As a result, some employees “collect” several …
Superannuation choices changing from November 1st, 2021 Read More »
The recent Covid-19 pandemic has had devastating consequences for many businesses, particularly those who have had to stop trading since restrictions were imposed in March 2020. Not only are many self-employed people feeling the pinch, firms are being forced to close, or dramatically reduce their workforce. This can leave employees in dire financial straits, at …
Early superannuation release criteria broadened due to the pandemic Read More »
The super guarantee amnesty ends in September – make sure you’re prepared The amnesty on companies paying backdated super guarantees comes to an end on 7th September. This amnesty was designed to help companies pay back years of payments that may have gone missing, but without any penalties from the government. If you haven’t yet …
The super guarantee amnesty ends in September – make sure you’re prepared Read More »
For business owners, making superannuation contributions for employees is essential. However, coordinating payments from different super funds can be complex. Thankfully, the Australian Government makes the process less stressful with the Superannuation Clearing House. It’s designed to eliminate red tape and reduce unnecessary overheads for small business owners. In this comprehensive article, you’ll learn what …
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 …
Information is power: protecting businesses from corona virus Read More »
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 …
New ATO Tax Debt Powers Set To Impact Business Operations Read More »
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 …