Crypto in 60 seconds Crypto currencies (e.g. BitCoin, Etherium, etc.) can be treated in 2 ways: – Capital Assets (CGT rules apply) – Revenue Assets (Trading stock rules apply) This brief guide focuses on what things taxpayers need to consider regarding Crypto CGT assets, and does not delve in high Crypto volume trading and profit […]
The NSW Government have released a new small business grant that is in place from April 2021 until 30 June 2022. The grant is to relieve eligibly businesses of some of the licence fees and charges that the NSW government impose on businesses. Before you get too excited, although the grant is for $1500, it […]
Many accounting firms offer an audit insurance policy as an optional extra for their clients. It is just about time for Jigsaw Tax’s policy to renew and we will no doubt get many questions from our clients about the need for this policy. Given that we have been through a year with many self-assessed […]
Most of you would have heard of Franking Credits. You might know that it is something to do with tax, company shares, and important enough to significantly impact the Australian election results in 2019 when Labor’s policy pledged changes to their tax treatment. Do you really understand what they are? I am going to try […]
December 2020 has shown us how quickly things can change in this pandemic ridden world we are living in. In mid-December we took our team to Wollongong for a training conference and Christmas dinner. We felt very confident doing this as there were no cases of COVID-19 pretty much anywhere in Australia at the time. […]
Employing staff certainly adds a layer of complexity to your business. For many small businesses hiring staff is an essential way to meet growth goals and manage your client’s expectations. Understanding how to pay staff is not something we naturally know, and we often see that staff are not being paid correctly. It would seem […]
Going into business with another person is a major commitment, one which I would consider equivalent to entering into a marriage. While a business partnership may not be “until death do us part”, like a marriage, a business partnership requires a sharing of finances, commitment, decision making and compromise. Like a marriage, business partnerships have […]
The ATO like other businesses release an Annual Report, and one of the elements explored in this report is the Tax Gap. The details for the 2017-2018 year have recently been released and they show some interesting facts. The Tax Gap is an estimate of the amount of tax collected by the ATO, and the […]
Unlike most other stimulus measures the Government has announced, the JobMaker Hiring Credits have been more scrutinised by our politicians. The Bill to introduce the scheme has been referred to a Senate Committee and we are expecting a report on 6 November. When you look at the details of this scheme, you can see why […]
Federal Budget 2020-21 The Budget is usually presented in May and as accountants, we get a nerdy excitement at the prospect of the tax planning that results. Of course, this year is different. Tax planning went out the window in April and was replaced with Stimulus planning. The delay of the Budget until October seemed […]