TitleMonthDateAuthorShort ParagraphImageLinkOrderServiceArchive
Business Transformation Philosophy 2017Aspen CorporateAspen Corporate specialises in business transformation. Our advisors have years of combined experience turning around poor performing businesses and growing fledgling start-ups into large scale, successful enterprises.files/images/content/Business Transformation/Transformation Philosophy.pngresources/reading_room/news_archives/business_transformation_philosophy01Business Advisory,Growth & Wealth ManagementYes
October 2017 eBulletin 2017Aspen CorporateAspen Corporate's new website, Are you simplified BAS ready?, Confused about the $20K instant asset write-off?, Alert: What you need to tell the ATO about your SMSF, New laws hold franchisors responsible for vulnerable workers, Safe harbour for directors of struggling companies, Tax benefits for investing in affordable housing resources/reading_room/news_archives/october_ebulletin_02NoneYes
November 2017 eBulletin 2017Aspen CorporateCloud accounting - five things you need to know, Taxing Bitcoin, Cleaners and couriers latest black economy target, New legislation restricts access to the reduced company tax rate, How small subsidiaries are being caught by Australia's new multi-national tax crackdown, ASIC penalties 'the cost of doing business' resources/reading_room/news_archives/november_ebulletin03NoneYes
December 2017 eBulletin 2017Aspen CorporateMerry Christmas, Protecting your business - what you need to be asking your internal accounts team, Santa's Tax Crises, Why 'property flipping' is the next ATO target, Foreign property owners slapped with a fee for vacant property, The Uber Driver GST surprise, ACCC gets tough on credit card surcharge. resources/reading_room/news_archives/december_2017_ebulletin04NoneYes
Will your business be audited 2018Aspen CorporateThe ATO is very upfront when it comes to their compliance activity. Every year they publish small business benchmarks that outline what a typical business 'looks like' in different industries. If your business falls outside of those benchmarks, the ATO is likely to take a closer look at why that is.files/images/content/Newsletter/bigstock-Close-Up-Of-Businessman-Or-Acc-210497341.jpgresources/reading_room/news_archives/will_your_business_be_audited6TaxYes
Important Changes to Payroll 2018David ScottSingle Touch Payroll (STP) is a new reporting requirement currently being implemented by the Australian Taxation Office (ATO), and will become compulsory for employers with 20 or more employees on 1 July 2018, and it is planned by the ATO to befiles/images/content/Newsletter/_DSF84383.jpgresources/reading_room/news_archives/single_touch_payroll5BookkeepingYes
The ATO's fringe benefit tax hot spots 2018Aspen CorporateThe Fringe Benefits Tax (FBT) year ends on 31 March. We've outlined the key hot spots for employers and employees.files/images/content/Newsletter/bigstock-Business-Acronym-Fbt-As-Fringe-107398202.jpgresources/reading_room/news_archives/the_atos_fringe_benefit_tax_hot_spots7TaxYes
Power and Influence 2018Aspen CorporateThe other business influencer that can make or break you Did a Kardashian really just wipe US $1.3bn off the share price of Snapchat?files/images/content/Newsletter/bigstock--153602849.jpgresources/reading_room/news_archives/power_and_influence8Growth & Wealth ManagementYes
GST on property development 2018Aspen CorporateThe big changes for developers and purchasersfiles/images/content/Newsletter/bigstock-Modern-Home-At-Dusk-70510666.jpgresources/reading_room/news_archives/gst_on_property_developments9Tax,Growth & Wealth Management,State and Federal Legislation/ BudgetsYes
Common mistakes when claiming fuel tax credits 2018Domenic TartagliaIf you're using fuel as a regular part of your business operations, then it may be possible for you to claim a Fuel Tax Credit.files/images/content/NewFolder/Fuel bigstock--160918916.jpgresources/reading_room/news_archives/claiming_fuel_tax_credits10TaxYes
Tax Deductions: the danger zones 2018Aspen CorporateA recent Parliamentary Inquiry into Tax Deductions created some fairly sensational headlines about what and how deductions are being claimed - $22 billion worth to be exact.files/images/content/Newsletter/bigstock--221969701.jpgresources/reading_room/news_archives/tax_deductions_the_danger_zones11TaxYes
Should you use the new super measures when you buy/sell your home? 2018Aspen CorporateFrom 1 July 2018, new laws come into effect allowing first home buyers to use their super to help buy a home, and at the other end of the spectrum, downsizers to contribute proceeds from the sale of their home to super without many of the normal restrictions.files/images/content/Newsletter/bigstock-Suburban-Houses-69572275.jpgresources/reading_room/news_archives/should_you_use_the_new_super_measures_when_you_buy_sell_your_home_12Growth & Wealth Management,State and Federal Legislation/ Budgets,SuperannuationYes
Single Touch Payroll: what you need to know 2018David ScottSingle Touch Payroll (STP) – the direct reporting of salary and wages, PAYG withholding and superannuation contribution information to the ATO – comes into effect from 1 July 2018.files/images/content/Newsletter/bigstock-Calculate-Payroll-For-Employee-79269223.jpgresources/reading_room/news_archives/single_touch_payroll_are_you_ready13Bookkeeping,State and Federal Legislation/ BudgetsYes
Utes and commercial vehicles - the new safe harbour to avoid FBT 2018Rob Lo PrestiThe ATO has shown its intentions in relation to Utes and commercial vehicles. Most taxpayers have assumed that as long as a vehicle has a carrying capacity of greater than one ton or carries more than 9 passengers that their Fringe Benefit Tax (FBT) obligations were easier to satisfy.files/images/content/Newsletter/transporting-service-company--129445487.jpgresources/reading_room/news_archives/utes_and_commerical_vehicles15TaxYes
CGT and the family home: Expats and foreign residents beware 2018Aspen CorporateThe family home of foreign residents and expats may be taxed if legislation before Parliament is passed by the Senate.files/images/content/Newsletter/bigstock-Modern-Home-At-Dusk-70510666.jpgresources/reading_room/news_archives/cgt_and_the_family_home__expats_and_foreign_residents_beware16Tax,Growth & Wealth ManagementYes
Definition of an SMSF to change 2018Aspen CorporateThe Government has announced that the maximum number of members an SMSF can have will increase from four to six.files/images/content/Newsletter/bigstock--Super.jpgresources/reading_room/news_archives/definition_of_an_smsf_to_change17SuperannuationYes
Tax stats reveal the state of the Australian community 2018Aspen CorporateEvery year, the Australian Taxation Office (ATO) compiles the tax data they collect. The recently released 2015-16 'tax stats' encapsulate the data from 16 million income tax returns lodged for the 2016 income year for 13.5 million individuals, 940,000 companies, as well as superannuation funds, partnerships, and trusts.files/images/content/Newsletter/Highest earning job roles.pngresources/reading_room/news_archives/tax_stats_reveal_the_state_of_the_australian_community18Tax,Growth & Wealth ManagementYes
2018 State and Federal Budget Snapshot 2018Domenic TartagliaDetails from the State and Federal Budgetsfiles/images/content/Newsletter/bigstock--217705018.jpgresources/reading_room/news_archives/2018_state_and_federal_budget_snapshot19State and Federal Legislation/ BudgetsYes
Who gets a tax cut from 1 July? 2018Aspen Corporate1 July 2018 is the start date for the seven year income tax plan announced in the recent 2018-19 Federal Budget. The seven year plan benefits low and middle income earners in the first few years before expanding out to a broader restructure of the tax rates and brackets for everyone.files/images/content/Newsletter/bigstock--211968226.jpgresources/reading_room/news_archives/who_gets_a_tax_cut_from_1_july_20Tax,State and Federal Legislation/ BudgetsYes
Your essential EOFY checklist 2018Aspen CorporateNo one wants to pay more tax than they need to or face unnecessary risks. We've compiled a list of our top tips for you.files/images/content/Newsletter/bigstock-End-Of-Financial-Year-Savings--93321458.jpgresources/reading_room/news_archives/your_essential_eofy_checklist21TaxYes
What's changing on 1 July 2018? 2018Aspen CorporateWhat changes come into effect on July 1 for individuals, businesses, and superannuation.files/images/content/Newsletter/bigstock-Vintage-Metal-Analog-Alarm-Clo-92214785.jpgresources/reading_room/news_archives/what_s_changing_on_1_july_2018_22Tax,Growth & Wealth Management,SuperannuationYes
One-off Super Guarantee Amnesty 2018Aspen CorporateEmployers that have fallen behind with their superannuation guarantee (SG) obligations will have 12 months to "self-correct" under a new amnesty announced late last month.files/images/content/Newsletter/bigstock--Super.jpgresources/reading_room/news_archives/one-off_super_guarantee_amnesty23Accounting,Bookkeeping,SuperannuationYes
New minimum pay rates from 1 July 2018 2018Aspen CorporateNew award wages and allowances come into effect from 1 July 2018.files/images/content/Newsletter/bigstock--193878688.jpgresources/reading_room/news_archives/new_minimum_pay_rates_from_1_july_201824Bookkeeping,Business AdvisoryYes
$10k limit on cash payments to business 2018Aspen CorporateOne of the interesting approaches to tackling the black economy in the recent 2018-19 Federal Budget was the announcement of a $10,000 limit on cash payments to business. resources/reading_room/news_archives/_10k_limit_on_cash_payments_to_business25Tax,Business AdvisoryYes
Company tax change in limbo 2018Aspen CorporateAn issue that many business owners and investors will need to grapple with is uncertainty on the tax rate that applies to companies for the year ended 30 June 2018 and the maximum franking rate on dividends paid during the 2018 income year.files/images/content/Newsletter/bigstock-Australian-Company-Tax-Return-68721451.jpgresources/reading_room/news_archives/company_tax_change_in_limbo26Tax,State and Federal Legislation/ BudgetsYes
1 July 2018 Personal income tax cuts 2018Aspen CorporateNew personal income tax rates come into effect from 1 July 2018.files/images/content/Newsletter/bigstock--217705018.jpgresources/reading_room/news_archives/1_july_2018_personal_income_tax_cuts_27TaxYes
$20k accelerated deductions for small business extended another year 2018Aspen CorporateThe ability for small business entities to claim an immediate deduction for assets costing less than $20,000 has been extended for another 12 months until 30 June 2019.files/images/content/Newsletter/bigstock-proud-family-business-partners-15610502.jpgresources/reading_room/news_archives/_20k_accelerated_deductions_for_small_business_extended_another_year28TaxYes
When can you take your super? 2018Aspen CorporateThe cash sitting in your superannuation fund can be tempting, particularly if you are short of cash. But, the reality is there are very few ways you can take advantage of your superannuation once it has been contributed to the fund – even if you change your mind.files/images/content/Newsletter/bigstock--188783275.jpgresources/reading_room/news_archives/when_can_you_take_your_super29SuperannuationYes
Are you holding back your business? 2018Aspen CorporateOvercoming the biggest problems in business often comes down to the simple things. Here are a few simple things you can do to capitalise on your opportunities and reduce your risks.files/images/content/Newsletter/bigstock--205059931.jpgresources/reading_room/news_archives/are_you_holding_back_your_business30Business Advisory,Growth & Wealth ManagementYes
Clothing deductions hung out to dry 2018Aspen CorporateThe Australian Taxation Office is closely examining work-related clothing and laundry expense claims of taxpayers submitting their 2017-18 tax returns.files/images/content/Newsletter/washing uniforms.jpgresources/reading_room/news_archives/clothing_deductions_hung_out_to_dry_31TaxYes
Will Australians pay more for a good cause? 2018Aspen CorporateIn the same month that desperate farmers made headlines preparing to destroy starving flocks and pleading with the public to pay a few cents more for their dairy products, Dick Smith's nationalistic brand announced its closure. The question is, will Australians pay more for a cause?files/images/content/Newsletter/cow.jpgresources/reading_room/news_archives/will_australians_pay_more_for_a_good_cause_32Growth & Wealth Management,State and Federal Legislation/ BudgetsYes
What you need to know about ATO Scams 2018Domenic TartagliaDo you know the signs to look out for to protect yourself against scammers claiming to be from the ATO?files/images/content/Newsletter/phone scam.jpgresources/reading_room/news_archives/ato_scams33Business Advisory,Growth & Wealth ManagementYes
ATO takes its share of car sharing 2018Aspen CorporateThe extra income earned by people taking part in car sharing services such as Car Next Door or DriveMyCar has come to the attention of the ATO.files/images/content/Newsletter/bigstock--185246098.jpgresources/reading_room/news_archives/ato_takes_its_share_of_car_sharing34Tax,State and Federal Legislation/ BudgetsYes
Tax 'safe harbour' for inherited property 2018Aspen CorporateWhen someone inherits a dwelling there are some special rules contained within the main residence exemption provisions that can provide a full exemption if certain conditions are met. If the conditions are not met, the beneficiary might face a nasty capital gains tax (CGT) bill for their good fortune.files/images/content/Newsletter/bigstock-Modern-Home-At-Dusk-70510666.jpgresources/reading_room/news_archives/tax__safe_harbour__for_inherited_property35Tax,Growth & Wealth ManagementYes
Got a HELP debt? The impending changes to speed up your repayments 2018Aspen CorporateThe Government has moved to put an end to 'eternal students' who constantly study and never earn an income and speed up the payment cycle for those with outstanding debt.files/images/content/Newsletter/bigstock-Young-Happy-Students-With-Book-231755323.jpgresources/reading_room/news_archives/_a_help_debt__the_impending_changes_to_speed_up_your_repayments36Tax,Growth & Wealth ManagementYes
Last minute changes to company tax and franking rate passed by Parliament 2018Aspen CorporateLegislation passed by Parliament late last month introduces a new test that will restrict some companies from accessing the lower company tax rate from the 2017-18 financial year.files/images/content/Newsletter/bigstock--217705018.jpgresources/reading_room/news_archives/last_minute_changes_to_company_tax_and_franking_rate_passed_by_parliament37Tax,Growth & Wealth Management,State and Federal Legislation/ BudgetsYes
190,000 taxpayers 'examined' in ATO online rental blitz 2018Aspen CorporateThe Australian Taxation Office (ATO) has announced a new data-matching program targeting taxpayers earning income from the exploding popularity of short-term rentals available on platforms like AirBNB and Stayz.files/images/content/Newsletter/bigstock--215929864.jpgresources/reading_room/news_archives/190_000_taxpayers__examined__in_ato_online_rental_blitz38Tax,Growth & Wealth ManagementYes
Are you ready for a surprise Fair Work audit? 2018Domenic TartagliaThe Fair Work Ombudsman has been conducting surprise visits to Perth businesses in recent months.files/images/content/NewFolder/bigstock-Man-and-woman-sitting-in-cafet-268753645.jpgresources/reading_room/news_archives/are_you_ready_for_a_fair_work_surprise_audit_39Accounting,Bookkeeping,Growth & Wealth ManagementYes
Confusion reigns over superannuation transfer balance cap 2018Aspen CorporateA recent speech by the ATO's Assistant Commissioner for Superannuation demonstrates the very practical problems with the new superannuation rules.files/images/content/Newsletter/bigstock--188783275.jpgresources/reading_room/news_archives/confusion_reigns_over_superannuation_transfer_balance_cap40Growth & Wealth Management,SuperannuationYes
New immediate deduction for primary producers 2018Aspen CorporateLegislation that passed Parliament last month will enable primary producers to claim an immediate deduction for fodder storage assets such as silos and hay sheds used to store grain and other animal feed.files/images/content/Newsletter/bigstock--197264209.jpgresources/reading_room/news_archives/new_immediate_deduction_for_primary_producers41Tax,State and Federal Legislation/ BudgetsYes
Reminder on cents per km car expenses rate 2018Aspen CorporateThe cents per kilometre car expense rate increased from 66 cents to 68 cents per kilometre from 1 July 2018files/images/content/Newsletter/bigstock--185246098.jpgresources/reading_room/news_archives/reminder_on_cents_per_km_car_expenses_rate42Accounting,BookkeepingYes
What does the China/US trade war mean to Australia? 2018Aspen CorporateAs the bilateral trade war between the US and China heats up, we look at what this might mean to Australia caught between its cultural and military ties to the US and its strong economic relationship with China.files/images/content/Newsletter/bigstock-Usa-And-China-Fight-China-Che-236888203.jpgresources/reading_room/news_archives/what_does_the_china_us_trade_war_mean_to_australia_43Growth & Wealth ManagementYes
Working from home: What deductions can you claim? 2018Aspen CorporateFor a while now, the Australian Taxation Office (ATO) has been concerned about tax deductions individuals have been claiming for a whole host of expenses. The latest on their 'hit list' are home office expenses. We guide you through what you can and can't claim if you work from home.files/images/content/Newsletter/bigstock--219109840.jpgresources/reading_room/news_archives/working_from_home__what_deductions_can_you_claim_44Tax,Business AdvisoryYes
Travelling to and from your investment property 2018Aspen CorporateFrom 1 July 2017, new rules came into effect that prevent taxpayers claiming a deduction for expenses they incur travelling to and from their residential investment property.files/images/content/Newsletter/bigstock-Investing-On-Property-2876142.jpgresources/reading_room/news_archives/travelling_to_and_from_your_investment_property45Tax,Growth & Wealth ManagementYes
Accelerated tax rate reduction for small business 2018Aspen CorporateSmall business is still a vote winner with the Government and Opposition teaming up to accelerate tax cuts for the sector by 5 years impacting on an estimated 3.3 million businesses.files/images/content/Newsletter/bigstock-Close-Up-Of-Businessman-Or-Acc-210497341.jpgresources/reading_room/news_archives/accerlerated_tax_rate_reduction_for_small_business46Tax,State and Federal Legislation/ BudgetsYes
The new rules for gift cards – what you need to know 2018Aspen CorporateIn Australia, around 34 million gift cards are sold each year with an estimated value of $2.5 billion. On average, an estimated $70 million is lost because of expiry dates.files/images/content/Newsletter/bigstock-Color-Gift-Cards-vector-forma-25052681.jpgresources/reading_room/news_archives/the_new_rules_for_gift_cards___what_you_need_to_know47Business Advisory,State and Federal Legislation/ BudgetsYes
Four things Female Entrepreneurs need to consider before starting your own business 2018Bernadette SmithAcross Australia, entrepreneurs are starting innovative business, and according to the last Census, women make up more than 33% of them. At Aspen Corporate, we work every day with women who are passionate about building and running a business which gives them the flexibility and control over their life and work.files/images/content/Newsletter/bigstock--202432735.jpgresources/reading_room/news_archives/four_things_female_entrepreneurs_need_to_consider_ Accounting,Bookkeeping,Business Advisory,Growth & Wealth ManagementYes
Bookkeeping Tip - Authentication: New or Reset Phones 2018David ScottIf you purchase a new phone, or need to factory reset your phone, you need to do some things first BEFORE destroying, resetting, selling your old phone.files/images/content/Newsletter/FB_Bookkeeping hacks - Reckon_hacks.jpgresources/reading_room/news_archives/bookkeeping_hacks_-_authentication__new_or_reset_phones_49BookkeepingYes
No tax deductions if you don't meet your tax obligations 2018Aspen CorporateNew laws passed by parliament last month directly target the behaviour of taxpayers that don't meet their obligations.files/images/content/Newsletter/bigstock--211968226.jpgresources/reading_room/news_archives/no_tax_deductions_if_you_don_t_meet_your_tax_obligations50Tax,State and Federal Legislation/ BudgetsYes
Contractor or employee? Defining workers in the gig economy 2018Aspen CorporateA former Foodora Australia delivery rider, Joshua Klooger, recently won an unfair dismissal claim despite a service agreement that classified him as an independent contractor. We explore the implications of the case.files/images/content/Newsletter/bigstock-Milan-Italy--May-----Fo-212296090.jpgresources/reading_room/news_archives/contractor_or_employee__defining_workers_in_the_gig_economy51 Yes
Tax on shares: ATO extends data matching program 2018Aspen CorporateThe Australian Tax Office (ATO) is utilising data provided by the Australian Investments and Security Commission (ASIC) to data match share trades.files/images/content/Newsletter/bigstock-Mature-man-with-paper-explaini-231945829.jpgresources/reading_room/news_archives/tax_on_shares__ato_extends_data_matching_program52TaxYes
Bookkeeping Tip - Opening multiple files at the same time 2018David ScottDo you find you need to open multiple files at the same time?files/images/content/Newsletter/FB_Bookkeeping hacks - Openng mulitple files at the same time.jpgresources/reading_room/news_archives/bookkeeping_hack_-_opening_mulitple_files_at_the_same_time53BookkeepingYes
Merry Christmas and a Happy & Prosperous New Year 2018Sergio Di VincenzoChristmas means different things to all of us. Whether it be religious beliefs, celebrations with family & friends, gifts, holidays or Father Christmas, it is a great time of the year to wind down, enjoy life and be thankful for what we have.files/images/content/Newsletter/bigstock-Christmas-Tree-On-The-Beach-Ea-216353413.jpgresources/reading_room/news_archives/merry_christmas_201854 Yes
What changed on 1 Jan 2019 2019Aspen CorporateWhat changes did the 2019 New Year bring with it?files/images/content/Newsletter/bigstock-Vintage-Metal-Analog-Alarm-Clo-92214785.jpgresources/reading_room/news_archives/what_changed_on_1_jan_201955State and Federal Legislation/ BudgetsYes
Tax warning on overseas income 2019Aspen CorporateDo you earn income overseas? A recent case highlights why you might pay more tax than you thought on foreign income.files/images/content/Newsletter/bigstock-Investing-On-Property-2876142.jpgresources/reading_room/news_archives/tax_warning_on_your_overseas_income56TaxYes
You've been scammed, hacked or breached! 2019Aspen CorporateAnother year, another scam. While data driven crime is more sophisticated and difficult to address than ever, human error and judgement remains one of the major problems.files/images/content/Newsletter/bigstock--153602849.jpgresources/reading_room/news_archives/you_ve_been_scammed__hacked_or_breached_57Business AdvisoryYes
Is your business eligible for the new Cyber Security Small Business Program? 2019Domenic TartagliaAt the end of last year the Small Business and Family Enterprise Ombudsman, Kate Carnell, announced that small businesses with 19 or less employees would have access to a grants for certified cyber security health checks.files/images/content/Newsletter/bigstock--205059931.jpgresources/reading_room/news_archives/cyber_security_small_business_program58Business AdvisoryYes
What would happen if… 2019Rob Lo PrestiLife does not always go to plan. While we logically know that, most of us don't plan for the worst - it's all a bit morbid and time consuming.files/images/content/Newsletter/bigstock-Mature-couple-doing-family-fin-141353021.jpgresources/reading_room/news_archives/what_would_happen_if59Growth & Wealth ManagementYes
Changes to deductions for non-compliant payments to workers 2019Domenic TartagliaAs of 1 July 2019, businesses will only be able to claim deductions for payments made to workers when they've met the pay as you go (PAYG) withholding obligation for that payment.files/images/content/Newsletter/bigstock--193878688.jpgresources/reading_room/news_archives/changes_to_deductions_for_non-compliant_payments_to_workers60Tax,BookkeepingYes
Single touch payroll extended to all employers 2019David ScottFrom 1 July 2019, single touch payroll – the direct reporting of salary and wages, PAYG withholding and superannuation contribution information to the ATO – will apply to all employers. What employers need to report will also be extended to include certain salary sacrificed amounts.files/images/content/Newsletter/bigstock-proud-family-business-partners-15610502.jpgresources/reading_room/news_archives/single_touch_payroll_extended_to_all_employers61Bookkeeping,State and Federal Legislation/ BudgetsYes
Legislation in limbo 2019Aspen CorporateA budget, an election and the legislation that hasn't made it through. The February 2019 Parliamentary sitting days were the last opportunity before the Federal Budget for the Government to introduce or push through new legislation.files/images/content/Newsletter/bigstock--195237403.jpgresources/reading_room/news_archives/legislation_in_limbo62State and Federal Legislation/ BudgetsYes
Benefits during emergencies exempt from FBT 2019Aspen CorporateIf your business assists employees during an emergency, for example floods, bushfires etc., then fringe benefits tax is unlikely to apply to the assistance you provide.files/images/content/Newsletter/bigstock-Rescue-Helping-Gesture-Or-Han-261193726.jpgresources/reading_room/news_archives/benefits_during_emergencies_exempt_from_fbt63Tax,Business AdvisoryYes
International Women's Day: Has anything changed? 2019Aspen CorporateWomen and girls make up just over half (50.7%) of the Australian population. While women comprise roughly 47% of all employees in Australia, they take home on average $251.20 less than men each week (full-time adult ordinary earnings). The national gender "pay gap" is 15.3% and it has remained stuck between 15% and 19% for the past two decades.files/images/content/Newsletter/bigstock--219109840.jpgresources/reading_room/news_archives/international_women_s_day__has_anything_changed_64Growth & Wealth ManagementYes
Where do you store your Will? 2019Domenic TartagliaOnce you have taken the time to write your will and have it witnessed, it is important to consider how and where you store your will. An option to consider is the WA Will Bank.files/images/content/Newsletter/bigstock-A-businessman-explaining-to-a--284241745.jpgresources/reading_room/news_archives/where_to_store_your_will_65Growth & Wealth ManagementYes
FBT Exempt vehicles 2019Aspen CorporateOne of the most common fringe benefits provided to employees is the use of a company vehicle. The Australian Tax Office (ATO) has recently released new guidelines for fringe benefits tax on exemptions to motor vehicles.files/images/content/Newsletter/bigstock--185246098.jpgresources/reading_room/news_archives/fbt_exempt_vehicles66TaxYes
Bookkeeping tip - Reckon Coding Bank Transactions 2019David ScottThe Reckon One bank transactions coding process has changed, which has implications for those who use bank feeds.files/images/content/Newsletter/Aspen Square - reckon bank transactions (004).jpgresources/reading_room/news_archives/bookkeeping_tips__reckon_coding_bank_transactions67BookkeepingYes
ATO doubles rental deduction audits 2019Aspen CorporateIn the 2017-18 financial year, more than 2.2 million Australians claimed over $47 billon in deductions and the Australian Taxation Office (ATO) thinks that is too much - one in ten is estimated to contain errors.files/images/content/Newsletter/bigstock-A-Bag-With-Money-And-The-Word--297247843.jpgresources/reading_room/news_archives/ato_doubles_rental_deduction_audits68TaxYes
PPSA and the '7-year itch' 2019PPSAdvisoryThe Personal Property Securities Act is all about protecting suppliers from the insolvency of their customer. For far too long, suppliers of goods/equipment have been treated as unsecured creditors when their customer's collapse, leaving them at the end of a very long line of other creditors and with little likelihood of recovering what they are owed.files/images/content/Newsletter/bigstock-Ring-binders-on-a-safe-deposit-128301350.jpgresources/reading_room/news_archives/ppsa_and_the_seven_year_itch69Business AdvisoryYes
Budget 2019-20: The pre-election announcements that are now law 2019Aspen CorporateThe Federal Budget announced a series of measures, some of which were legislated before the election was called.files/images/content/Newsletter/bigstock--165442280.jpgresources/reading_room/news_archives/budget_2019-20__the_pre-election_announcements_that_are_now_law70Tax,State and Federal Legislation/ BudgetsYes
How to Prepare for a Tax Office Visit 2019Aspen CorporateThe Tax Office is actively targeting geographic areas for special visits as part of a nationwide crackdown on the black economy.files/images/content/Newsletter/bigstock-Amsterdam-The-Netherlands--J-248684932.jpgresources/reading_room/news_archives/how_to_prepare_for_a_tax_office_visit71Tax,AccountingYes
Tax Time: Your Trust 2019Aspen CorporateTrustees (or directors of a trustee company) need to consider and decide on the distributions they plan to make by 30 June 2019 at the latest (the trust deed may actually require this to be done earlier). And Has your trust lodged TFN reports for all beneficiaries?files/images/content/Newsletter/bigstock-Mature-couple-doing-family-fin-141353021.jpgresources/reading_room/news_archives/your_trust72TaxYes
Tax Time: Your Superannuation 2019Aspen CorporateNot making your full superannuation contribution? Now you can catch upfiles/images/content/Newsletter/bigstock--Super.jpgresources/reading_room/news_archives/your_superannuation73Tax,SuperannuationYes
Tax Time: For you 2019Aspen CorporateWork related deductions, Cryptocurrency, Rental property deductions and Earning money from the sharing economyfiles/images/content/Newsletter/_DSF84323.jpgresources/reading_room/news_archives/for_you74TaxYes
Tax Time: Your Business 2019Aspen CorporateThere are around 3.8 million small businesses, including 1.6 million sole traders in Australia. They employ around 5.5 million people and contribute $380bn to the economy. Small business is also in debt to the ATO to the tune of $15bn.files/images/content/Newsletter/bigstock-proud-family-business-partners-15610502.jpgresources/reading_room/news_archives/your_business75TaxYes
Live reporting through Single Touch Payroll 2019Aspen CorporateSingle touch payroll (STP) reporting has changed the way businesses report salary and wages, PAYG withholding and superannuation contribution information to the ATO.files/images/content/Newsletter/David and Bernie looking off camera.jpgresources/reading_room/news_archives/live_reporting_through_single_touch_payroll_76BookkeepingYes
Super, insurance and exit fees: The 1 July changes 2019Aspen CorporateFrom 1 July 2019, new laws prevent superannuation providers from eroding member balances with unwanted or unnecessary insurance and exit fees. Plus, inactive accounts with low balances will be moved to the ATO to try and unite the unclaimed super with its owner.files/images/content/Newsletter/bigstock-Mother-and-daughter-leading-th-262017376 - Copy.jpgresources/reading_room/news_archives/super__insurance_and_exit_fees__the_1_july_changes77SuperannuationYes
Single touch payroll: reporting deadline extension, and an exemption for directors and family members 2019Aspen CorporateThe ATO has extended the deadline for employers with 19 employees or less; and has provided a concession from single touch payroll for payments by small employers to "Closely Held Payees".files/images/content/Newsletter/_DSF84043.jpgresources/reading_room/news_archives/single_touch_payroll_exemption_for_directors_and_family_members78BookkeepingYes
Who owns the assets of a trust? 2019Aspen CorporateIt's not uncommon for people to put assets such as their family home into a trust, particularly professionals working in litigious fields or family groups wanting to protect assets. A recent case highlights some of the tax problems that can occur.files/images/content/Newsletter/bigstock-Investing-On-Property-2876142.jpgresources/reading_room/news_archives/who_owns_the_assets_of_a_trust_79Tax,Business Advisory,Growth & Wealth ManagementYes
Laundry expenses hung out to dry 2019Aspen CorporateThe ATO is airing the 'dirty laundry' on work-related clothing and laundry expenses warning that it is closely reviewing claims.files/images/content/Newsletter/washing uniforms.jpgresources/reading_room/news_archives/laundry_expenses_hung_out_to_dry80TaxYes
New pay rates from 1 July 2019Aspen CorporateNew pay rates came into effect from 1 July 2019 with the minimum wage increasing by 3% from the first full pay period.files/images/content/Newsletter/bigstock-Wooden-Blocks-With-Coins-And-T-284171986.jpgresources/reading_room/news_archives/new_pay_rates_from_1_july_81BookkeepingYes
Bookkeeping Tip - what to include on your pay slip 2019David ScottSuperannuation contributions and tax deductions need to be listed on payslips, it's a common error to make.files/images/content/Newsletter/FB Bookkeeping Tip - what to include on your pay slip.jpgresources/reading_room/news_archives/bookkeeping_tip_-_what_to_include_on_your_pay_slip82BookkeepingYes
60,000 tax cheat tip-offs 2019Aspen CorporateTip-offs to the Australian Taxation Office (ATO) have reached an all-time high with close to 60,000 tip-offs received between June and May 2019 – almost double the number of the previous year. The ATO thinks the number of tip-offs will reach around 70,000 for the full financial year.files/images/content/Newsletter/bigstock--193878688.jpgresources/reading_room/news_archives/60_000_tax_cheat_tip-offs_83TaxYes
Confusion over personal income tax changes – what are you really entitled to? 2019Aspen CorporateThe recent income tax cuts that passed through Parliament do not mean everyone automatically gets $1,080 back from the Government as soon as they lodge their income tax return. The Australian Taxation Office (ATO) has been inundated with calls from taxpayers wanting to know where their money is and how they can access the $1,080 they now believe is owing to them.files/images/content/Newsletter/Small/bigstock--189167098 small.jpgresources/reading_room/news_archives/confusion_over_personal_income_tax_changes___what_are_you_really_entitled_to_84Tax,State and Federal Legislation/ BudgetsYes
'Proof of life' certificates required for overseas pensioners 2019Aspen CorporateOne of the stranger pieces of legislation to be introduced into Parliament last month is an attempt to ensure that overseas welfare recipients over the age of 80 are in fact, alive.files/images/content/Newsletter/Small/bigstock-Old-couple-doing-exercises-in--24141350 small.jpgresources/reading_room/news_archives/_proof_of_life__certificates_required_for_overseas_pensioners85Growth & Wealth Management,State and Federal Legislation/ BudgetsYes
Why the Government does not want your business accepting cash payments of $10,000 or more 2019Aspen CorporateFrom 1 January 2020, the Government intends to restrict the value of cash payments a business makes or accepts to amounts under $10,000. Ignoring the limit will become a criminal offence with penalties of up to 2 years in prison and/ or $25,200*.files/images/content/Newsletter/bigstock--193878688.jpgresources/reading_room/news_archives/why_the_government_does_not_want_your_business_accepting_cash_payments_of__10_000_or_more86Accounting,Business Advisory,State and Federal Legislation/ BudgetsYes
FBT and Uber style ride sharing 2019Aspen CorporateWhen an employee uses a taxi service for travel to or from work or if the employee is sick, it is generally exempt from Fringe Benefits Tax (FBT) under the FBT taxi travel exemption.files/images/content/Newsletter/bigstock--185246098.jpgresources/reading_room/news_archives/fbt_and_uber_style_ride_sharing87TaxYes
Tax treatment of compensation from financial institutions 2019Aspen CorporateBy 30 June 2019, five major financial institutions paid $119.7 million in compensation for poor financial advice to 6,318 customers. The question is, how are these payments treated for tax purposes?files/images/content/Newsletter/bigstock--211968226.jpgresources/reading_room/news_archives/tax_treatment_of_compensation_from_financial_institutions88TaxYes
Weirdest tax deductions revealed 2019Aspen CorporateWould you claim the Lego you bought for your kids throughout the year as a tax deduction? One taxpayer did and it made the Australian Taxation Office's 2018-19 list of most unusual claims.files/images/content/Newsletter/Small/bigstock-Tambov-Russian-Federation--J-291055204 small.jpgresources/reading_room/news_archives/weirdest_tax_deductions_revealed89TaxYes
ATO take 'gloves off' on overseas income 2019Aspen CorporateFive years ago, the Australian Taxation Office (ATO) offered a penalty amnesty on undisclosed foreign income. Five years on, the ATO has again flagged that underreporting of foreign income is an issue but this time the gloves are off.files/images/content/Newsletter/Small/bigstock--139803842 small.jpgresources/reading_room/news_archives/ato_take__gloves_off__on_overseas_income90TaxYes
Are all your SMSF eggs in one basket? 2019Aspen CorporateThe investment strategies of Self Managed Superannuation Funds (SMSFs) are under scrutiny with the Australian Taxation Office (ATO) contacting 17,700 trustees about a lack of asset diversity.files/images/content/Newsletter/Small/bigstock-Mature-couple-doing-family-fin-141353021 small.jpgresources/reading_room/news_archives/are_all_your_smsf_eggs_in_one_basket_91Growth & Wealth Management,SuperannuationYes
Rental property expenses - what you can and can't claim 2019Aspen CorporateIt's not uncommon for landlords to be confused about what they can and can't claim for their rental properties. What often seems to make perfect sense in the real world does not always make sense for the Australian Tax Office (ATO).files/images/content/Newsletter/Small/bigstock-A-Bag-With-Money-And-The-Word--297247843 small.jpgresources/reading_room/news_archives/rental_property_expenses_-_what_you_can_and_can_t_claim92Tax,Growth & Wealth ManagementYes
The $11.1bn small business tax shortfall 2019Aspen CorporateLast month, the ATO released statistics showing small business is responsible for 12.5% ($11.1 billion) of the total estimated 'tax gap'.files/images/content/Newsletter/Small/bigstock-Australian-Company-Tax-Return-68721448 small.jpgresources/reading_room/news_archives/the__11.1bn_small_business_tax_shortfall_93TaxYes
Are you protected against invoice scams? 2019Domenic TartagliaCan your business afford to lose $50,000?files/images/content/Newsletter/Small/bigstock-Scam-Alert-Detecting-Warning--265542484 small.jpgresources/reading_room/news_archives/invoice_fraud94Bookkeeping,Growth & Wealth ManagementYes
BOOKKEEPING TIP: Are you keeping your receipts for long enough? 2019David ScottAn Adelaide operator of a number of massage parlours said he was "too busy and lazy" to keep proper records, and was penalised $43,200 for contraventions of record-keeping and pay slip laws, following legal action by the Fair Work Ombudsman.files/images/content/Newsletter/Small/Bookkeeping tip layout - small.jpgresources/reading_room/news_archives/bookkeeping_tip__are_you_keeping_your_receipts_for_long_enough_95BookkeepingYes
Tax alert: Distributions to non-resident beneficiaries 2019Aspen CorporateThe ATO's recently released interpretation of the tax treatment of capital gains distributed by an Australian discretionary trust to non-resident beneficiaries will have a significant negative impact for some.files/images/content/Newsletter/Small/bigstock--205682026 small.jpgresources/reading_room/news_archives/tax_alert__distributions_to_non-resident_beneficiaries96TaxYes
Towards Zero Interest Rates (and what it means to you) 2019Aspen CorporateThe Reserve Bank of Australia is widely tipped to reduce interest rates again to historic lows. Easton Wealth economist Emmanuel Calligeris explores the impact.files/images/content/Newsletter/Small/bigstock--221969701 small.jpgresources/reading_room/news_archives/towards_zero_interest_rates__and_what_it_means_to_you_97Business Advisory,Growth & Wealth ManagementYes
Super Guarantee Amnesty Resurrected 2019Aspen CorporateThe Government has resurrected the Superannuation Guarantee (SG) amnesty giving employers that have fallen behind with their SG obligations the ability to "self-correct." This time however, the incentive of the amnesty is strengthened by harsh penalties for those that fail to take action.files/images/content/Newsletter/Small/bigstock--Super small.jpgresources/reading_room/news_archives/super_guarantee_amnesty_resurrected98Growth & Wealth Management,SuperannuationYes
Pay your invoices via our website using our NEW Payment Gateway 2019Bernadette SmithWe have updated how you can pay invoices via our website.files/images/content/Newsletter/Small/bigstock-Mature-man-with-spectacles-and-277946896.jpgresources/reading_room/news_archives/pay_your_invoices_via_our_website_using_our_new_payment_gateway99 Yes
CGT and the family home: expats and foreigners targeted again 2019Aspen CorporateThe Government has resurrected its plan to remove access to the main residence exemption for non-residents – a move that will impact on expats and foreign residents.files/images/content/Newsletter/bigstock-Modern-Home-At-Dusk-70510666.jpgresources/reading_room/news_archives/cgt_and_the_family_home__expats_and_foreigners_targeted_again100Tax,Growth & Wealth Management,State and Federal Legislation/ BudgetsYes
Vacant land deduction changes hit 'Mum & Dad' property developments 2019Aspen CorporateLegislation that passed through Parliament last month prevents taxpayers from claiming a deduction for expenses incurred for holding vacant land. The amendments are not only retrospective but go beyond purely vacant land.files/images/content/Newsletter/bigstock-Serious-Asian-Senior-Couple-Th-317589490 small.jpgresources/reading_room/news_archives/vacant_land_deduction_changes_hit__mum___dad__property_developments_1001Tax,State and Federal Legislation/ BudgetsYes
Calculating Super Guarantee: The new rules 2019Aspen CorporateFrom 1 July 2020, new rules will come into effect to ensure that an employee's salary sacrifice contributions cannot be used to reduce the amount of superannuation guarantee (SG) paid by the employer.files/images/content/Newsletter/bigstock--Super.jpgresources/reading_room/news_archives/calculating_super_guarantee__the_new_rules102Bookkeeping,SuperannuationYes
Can the tax office take money out of your account? Your right to know 2019Aspen CorporateYou might have seen the recent spate of media freedom advertisements as part of the Your Right to Know campaign. The prime-time advertising states that the Australian Tax Office (ATO) can take money from your account without you knowing. The question is, do you really know what powers the ATO have?files/images/content/Newsletter/Small/bigstock-Australian-Company-Tax-Return-68721448 small.jpgresources/reading_room/news_archives/can_the_tax_office_take_money_out_of_your_account__your_right_to_know103TaxYes
Are you paying your staff correctly? Woolworths' $200m plus remediation 2019Aspen CorporateWoolworths is the latest company to face a fallout from the underpayment of staff. In what is believed to be the largest remediation of its kind, Woolworths have stated that they have underpaid 5,700 salaried team members with remediation expected to be in the range of $200m to $300m (before tax).files/images/content/Newsletter/bigstock-Sydney-Australia--------325242166 small.jpgresources/reading_room/news_archives/are_you_paying_your_staff_correctly__woolworths__200m_plus_remediation_104Accounting,BookkeepingYes
Australia embraces Black Friday and Cyber Monday 2019Aspen CorporateThe Black Friday and Cyber Monday sale concepts have well and truly arrived in Australia with retailers embracing this latest retail event to stimulate what has been an economically lack lustre year.files/images/content/Newsletter/Small/bigstock-Happy-woman-making-payment-onl-290448745 small.jpgresources/reading_room/news_archives/australia_embraces_black_friday_and_cyber_monday105Business AdvisoryYes
5 things that will make or break your business's Christmas 2019Aspen CorporateThe countdown to Christmas is now on and we're in the midst of the headlong rush to get everything done and capitalise on any remaining opportunities before the Christmas lull. Busy period or not, Christmas causes a period of dislocation and volatility for most businesses. This dislocation and volatility mean that it is not 'business as usual' and for many businesses, it is the change that causes the problem.files/images/content/Newsletter/bigstock-proud-family-business-partners-15610502.jpgresources/reading_room/news_archives/5_things_that_will_make_or_break_your_business_s_christmas106Business AdvisoryYes
Bushfire relief from ATO obligations 2019Aspen CorporateThe ATO has provided relief from lodgement compliance and payment obligations for those impacted by the bushfires. An automatic two month deferral for activity statements lodgements and payments due has been provided to those in affected postcodes.files/images/content/Newsletter/bigstock-Serious-Asian-Senior-Couple-Th-317589490 small.jpgresources/reading_room/news_archives/bushfire_relief_from_ato_obligations107Tax,State and Federal Legislation/ BudgetsYes
Super guarantee opt-out for employees with multiple employers 2019Aspen CorporateEmployees with multiple employers can now opt-out of superannuation guarantee from all but one employer. Employers are required to pay 9.5% superannuation guarantee for all eligible employees. But what happens if you are an employee with multiple employers?files/images/content/Newsletter/bigstock--Super.jpgresources/reading_room/news_archives/super_guarantee_opt-out_for_employees_with_multiple_employers108SuperannuationYes
The Super Guarantee timing trap for employers 2019Aspen CorporateHow employers are being caught out by the timing of superannuation guarantee payments.files/images/content/Newsletter/Small/_DSF83103.jpgresources/reading_room/news_archives/the_super_guarantee_timing_trap_for_employers109SuperannuationYes
Government to shut down AUSkey by late March 2020 2020Domenic TartagliaSetting up myGovID - The government will cease using AUSkey to transaction with their online services by late March 2020. From 25 January 2020, myGovID will become the default login option for the online services for agents and clients who access the business tax portal.files/images/content/Newsletter/Small/_DSF82933 - small.jpgresources/reading_room/news_archives/government_to_shut_down_auskey_by_late_march_2020110Tax,Bookkeeping,State and Federal Legislation/ BudgetsYes
CGT and the family home: expats and foreigners excluded from tax exemption 2020Aspen CorporateLate last year, legislative changes were made that exclude non-residents from accessing the main residence exemption. The retrospective changes directly impact foreigners and expats whose main residence is in Australia or overseas. We explore the impact.files/images/content/Newsletter/Small/bigstock-Australian-Money-With-Passport-88642001.jpgresources/reading_room/news_archives/cgt_and_the_family_home__expats_and_foreigners_excluded_from_tax_exemption111Tax,AccountingYes
Bushfire support and assistance 2020Aspen CorporateTen million hectares, lives lost, wildlife on the brink, billions in lost revenue and clean-up costs. For many, returning life to normal is a long way off this summer. We summarise the help available to those impacted by the bushfires.files/images/content/Newsletter/Small/bigstock-Composition-About-Australian-W-343659112.jpgresources/reading_room/news_archives/bushfire_support_and_assistance112Tax,State and Federal Legislation/ BudgetsYes
ATO targets 'lifestyle' assets 2020Aspen CorporateThe ATO has requested insurance policy information from 30 insurers for lifestyle assets such as yachts, thoroughbred horses, and fine arts.files/images/content/Newsletter/Small/bigstock-Aerial-View-By-Drone-Of-Yacht--315489502.jpgresources/reading_room/news_archives/ato_targets__lifestyle__assets113TaxYes
Alerts to protect SMSFs from fraud 2020Aspen CorporateA new system alerting SMSF trustees of changes made to their SMSF will roll out this month. The ATO will alert trustees by text and/or email when changes are made to bank details, electronic service address of the fund, the authorised contact and members.files/images/content/Newsletter/Small/bigstock-Happy-mature-business-man-sitt-279235975.jpgresources/reading_room/news_archives/alerts_to_protect_smsfs_from_fraud114SuperannuationYes
What to look for when choosing the Accounting Software and Apps for your Business 2020David ScottChoosing the right accounting software and apps for your business is not easy. There are plenty of options on the market, especially when considering the different products MYOB, Xero, Reckon and Quickbooks all offer.files/images/content/Newsletter/_DSF84383.jpgresources/reading_room/news_archives/what_to_look_for_when_choosing_the_accounting_software_and_apps_for_your_business115Bookkeeping 
Why you need an Estate Plan 2020Rob Lo PrestiWe often hear "Why do I need to do any estate planning, we all get along, a simple will do?" This may be possible for some, but everyone's circumstances are different. You could have a complicated financial situation, the possibility of family disputes, or it may be a treat you want to provide for grandchild. Whatever the circumstances, Estate Planning should be considered.files/images/content/Newsletter/bigstock-Couple-Consulting-Lawyer-About-336793984.jpgresources/reading_room/news_archives/why_you_need_an_estate_plan116Growth & Wealth Management,SuperannuationYes
Surviving a crisis: Coronavirus and beyond 2020Aspen CorporateEmpty restaurants and retail stores were one of the first signs of the devastating impact the coronavirus on Australian businesses.files/images/content/Newsletter/bigstock-Gold-Coast-Australia--March--354601019.jpgresources/reading_room/news_archives/surviving_a_crisis__coronavirus_and_beyond117Business Advisory,Coronavirus SupportYes
FBT hot spots 2020Aspen CorporateWith the start of the Fringe Benefits Tax year looming on 1 April, businesses are being urged to review their Fringe Benefits Tax (FBT) position.files/images/content/Newsletter/Small/bigstock-Happy-woman-making-payment-onl-290448745 small.jpgresources/reading_room/news_archives/fbt_hot_spots118TaxYes
How to get your payroll right 2020Aspen CorporateA series of high-profile examples of businesses underpaying their employees has brought the need to get payroll right into sharp focus.files/images/content/Newsletter/_DSF84323.jpgresources/reading_room/news_archives/how_to_get_your_payroll_right119Accounting,BookkeepingYes
Super guarantee amnesty: Now is the time to get payroll right 2020Aspen CorporateThe superannuation guarantee (SG) amnesty provides employers with a one-off opportunity to "self-correct." Now is the time to ensure that your payroll is correct and there are no hidden SG issues looming.files/images/content/Newsletter/bigstock-A-businessman-explaining-to-a--284241745.jpgresources/reading_room/news_archives/_super_guarantee_amnesty__now_is_the_time_to_get_payroll_right120Accounting,Bookkeeping,SuperannuationYes
The Second $66.1 bn Stimulus Package: What You Need To Know 2020Aspen CorporateThe Government yesterday released a second, far reaching $66.1 bn stimulus package that boosts income support payments, introduces targeted changes to the superannuation rules, provides cash flow support of up to $100,000 for small business employers, and relaxes corporate insolvency laws.files/images/content/Newsletter/bigstock-Coronavirus---ncov-Novel-Co-348702811.jpgresources/reading_room/news_archives/the_second__66.1_bn_stimulus_package__what_you_need_to_know121Tax,Growth & Wealth Management,State and Federal Legislation/ Budgets,Coronavirus SupportYes
Property Code of Conduct for Commercial Landlords - Aspens CommentApril2020Sergio Di VincenzoThe new Property Code of Conduct for Commercial Landlords has now been released and whilst everyone acknowledges that tenants need assistance, there also appears to be a consensus that if we remove our tenant and landlord hats, the fact is that commercial landlords have been treated unfairly.files/images/content/Newsletter/bigstock-A-Bag-With-Money-And-The-Word--297247843.jpgresources/reading_room/news_archives/aspen_s_view__commercial_property_code_of_conduct124Coronavirus SupportYes
Banking Deferral Requests - Aspen's CommentApril2020Sergio Di VincenzoWe outline what we have seen occurring in the banking Sector with respect to deferral's and the $250,000 loans?files/images/content/Newsletter/bigstock-Mortgage-Deferral-Relief-Writi-357305009.jpgresources/reading_room/news_archives/aspen_s_view__banking_deferral_requests125Coronavirus SupportYes
More Changes to JobkeeperApril2020Domenic TartagliaMore than 540,000 companies have officially registered for Jobkeeper. But with such a short time between being conceived, legislated and then implimented, there will always be gaps and issues that will need to be resolved. There have been several changes already in the last few days, and we expect more to come.files/images/content/Newsletter/bigstock--193878688.jpgresources/reading_room/news_archives/more_changes_to_jobkeeper126Accounting,Bookkeeping,Coronavirus SupportYes
What's Changing on July 1?July2020Aspen CorporateChanges for the 2020-2021 Financial Yearfiles/images/content/Newsletter/bigstock-A-businessman-explaining-to-a--284241745.jpgresources/reading_room/news_archives/what_s_changing_on_1_july_127TaxYes
State and Federal Building and Renovation GrantsJune2020Domenic TartagliaBoth the State and Federal Governments have recently announced grants and subsides to help kick start the construction industry.files/images/content/Newsletter/bigstock-Monterrey-Mexico-Sept-----324605164.jpgresources/reading_room/news_archives/state_and_federal_building_and_renovation_grants127Tax,Growth & Wealth Management,State and Federal Legislation/ Budgets,Coronavirus SupportYes
the ATO's Jobkeeper Audit TargetsJune2020Aspen CorporateThe JobKeeper subsidy has progressed beyond the rush for eligibility and entered its second phase: compliance. Late last month, the Australian Taxation Office (ATO) released guidance highlighting where the regulator will focus its compliance resources.files/images/content/Newsletter/bigstock--217705018.jpgresources/reading_room/news_archives/the_ato_s_jobkeeper_audit_targets128Tax,Coronavirus SupportYes
Have casual workers been granted annual leave?July2020Aspen CorporateNews headlines recently stated that casual workers have won the right to paid leave following a decision in the Federal Court. As usual, the devil is in the detail.files/images/content/Newsletter/bigstock-proud-family-business-partners-15610502.jpgresources/reading_room/news_archives/have_casual_workers_been_granted_annual_leave_130Accounting,BookkeepingYes
Preparation for EOFY 2020 software updates & tax tablesJune2020David ScottAccountRight and Reckon Accounts/ Hosted have released software upgrades ahead of the End Of Financial Year. Read our article to find out more about enhancements in time for EOFY Single Touch Payroll Finalisation.files/images/content/Newsletter/bigstock-Calculate-Payroll-For-Employee-79269223.jpgresources/reading_room/news_archives/preparation_for_eofy_2020_software_updates_and_tax_tables131BookkeepingYes
EOFY Single Touch Payroll finalisationJune2020David ScottIf you are confused about what needs to be completed before 30 June, and what needs completing before 31 July, we've set out an easy to follow guide, along with information particular to the major payroll software.files/images/content/Newsletter/bigstock-End-Of-Financial-Year-Savings--93321458.jpgresources/reading_room/news_archives/eofy_single_touch_payroll_finalisation132BookkeepingYes
Increased flexibility for Parental Leave PayJuly2020Aspen CorporateFrom 1 July 2020, parents accessing the Government's parental leave pay (PPL) scheme will have greater flexibility and options.files/images/content/Newsletter/bigstock-Pregnant-woman-working-from-ho-299117464.jpgresources/reading_room/news_archives/increased_flexibility_for_parental_leave_pay_for_self-employed133Tax 
Minimum wage increases by 1.75%July2020Aspen CorporateAn increase to the minimum wage of 1.75% will start rolling out for the first full pay period from 1 July 2020.files/images/content/Newsletter/bigstock-Happy-woman-making-payment-onl-290448745.jpgresources/reading_room/news_archives/minimum_wage_increases_by_1.75_percent134Accounting,Bookkeeping 
Funding for the arts: what’s available and how you can get itJuly2020Aspen CorporateWill the Prime Minister's targeted $250 million package of funding to support cultural and creative projects and initiatives save the industry?files/images/content/Newsletter/bigstock-Mother-and-daughter-leading-th-262017376 - Copy.jpgresources/reading_room/news_archives/funding_for_the_arts__what_s_available_and_how_can_you_get_it135Coronavirus Support 
JobKeeper and termination paymentsJuly2020Aspen CorporateFor some employers, JobKeeper will not be enough to keep the employee employed.  Find out how this affects their employment termination paymentsfiles/images/content/Newsletter/bigstock-Layoffs-From-Work-Woman-Says--365950732 (1).jpgresources/reading_room/news_archives/jobkeeper_and_termination_payments_136Bookkeeping,Coronavirus Support 
Director Identification Numbers RegimeJuly2020Domenic TartagliaThe Treasury Laws Amendment Bill 2019 has passed parliament, which means that a new Director Identification Number (DIN) regime will go into effect.files/images/content/Newsletter/_DSF84043.jpgresources/reading_room/news_archives/director_identification_number__din__regime138Tax 
The ATO on COVID-19 fraud warpath including 3 million individuals in data matching programJuly2020Aspen CorporateWe always knew that a Government scheme swiftly distributing cash during a crisis was going to come with equally swift compliance and review measures, particularly when eligibility was self-assessed.files/images/content/Newsletter/bigstock--205682026.jpgresources/reading_room/news_archives/the_ato_on_covid-19_fraud_warpath138Tax,Coronavirus Support 
Aspen in the News: How to expertly handle return-to-work for employees post-pandemicJuly2020In The BlackBernadette Smith was featured in an article about navigating the return to the office post Covid 19 shutdown.files/images/content/NewFolder/Overhead-people-sitting-working.jpghttps://www.intheblack.com/articles/2020/07/01/post-pandemic-return-to-work#.XwzqwGnosfQ.mailto139Growth & Wealth Management,Coronavirus Support 
JobSeeker and other measuresJuly2020Aspen CorporateFor JobSeeker, there is a winding back of some of the expanded eligibility criteria, along with the reintroduction of means and asset testing, and partner income testing.files/images/content/Newsletter/Small/bigstock-Mature-man-with-spectacles-and-277946896.jpgresources/reading_room/news_archives/jobseeker_and_other_support140Tax,Coronavirus Support 
JobKeeper 2.0 GuideAugust2020Aspen CorporateEmployees that previously failed the JobKeeper eligibility test as they were not employed on 1 March 2020, may now be eligible for payments from 3 August 2020 if they were employed on 1 July 2020. We've summarised the key details for employers on JobKeeper 2.0 in our client guide, but just remember that the proposed changes are not yet law and the details could still change.files/images/content/Newsletter/Aspen Corporate JobKeeper 2.0 .JPGresources/reading_room/news_archives/jobkeeper_2.0_guide142Accounting,Bookkeeping,Coronavirus Support 
COVID-19 and your SMSFAugust2020Aspen CorporateCOVID-19 has had an impact on many SMSFs. We look at the key issues.files/images/content/Newsletter/Small/_DSF83103.jpgresources/reading_room/news_archives/covid-19_and_your_smsf143Superannuation,Coronavirus Support 
Working from home - Your questions answeredAugust2020Aspen CorporateDuring lock down you had to work from home. You've set up a full home office with paintings, plants, a desk, computer equipment, a water tower and a sculpture. Can claim everything you purchased for this office and claim part of my mortgage and running costs?files/images/content/Newsletter/bigstock-Freelance-Asian-Woman-Working--344673568.jpgresources/reading_room/news_archives/working_from_home_-_your_questions_answered144Tax,Accounting,Coronavirus Support 
What now? Where to get help if you need it - for business and individuals.August2020Aspen CorporateHelp available for Business and Individuals, including support from each statefiles/images/content/Newsletter/Originals/bigstock-Mature-man-with-paper-explaini-231945829.jpgresources/reading_room/news_archives/what_now__where_to_get_help_if_you_need_it145State and Federal Legislation/ Budgets,Coronavirus Support 
Important information about accruing paid sick and carer's leaveSeptember2020David ScottOn 13 August 2020, the High Court of Australia handed down a decision clarifying how paid personal/carer's leave is accrued and taken under the National Employment Standards (NES).files/images/content/Newsletter/David sitting suit jacket.jpgresources/reading_room/news_archives/important_information_about_accruing_paid_sick_and_carer_s_leave146Bookkeeping 
Forecasting during a pandemicSeptember2020Aspen CorporateNow, more than ever, business operators should have a plan in place to manage during uncertain times. Even if your business is not directly impacted, it’s likely your customers, your supply chain, and your workforce will be to some extent.files/images/content/Newsletter/bigstock-The-Impact-Of-Coronavirus-On-T-357107450.jpgresources/reading_room/news_archives/forecasting_during_a_pandemic146Accounting,Growth & Wealth Management,Coronavirus Support 
Question of the month - My business received a grant from the State Government. Do I pay tax on it?September2020Aspen CorporateMy business received a grant from the State Government. Do I pay tax on it? Short answer; probably. But as always, the devil is in the detail.files/images/content/Newsletter/bigstock-Travel-4442707.jpgresources/reading_room/news_archives/question_of_the_month_-_september_2020148Tax,State and Federal Legislation/ Budgets,Coronavirus Support 
JobKeeper AlertSeptember2020Aspen CorporateWith the employee test date for JobKeeper moved to 1 July 2020, some additional employees might have become eligible for JobKeeper. The August JobKeeper monthly business declaration is due by 14 September and is different to the previous form as it covers three JobKeeper fortnights.files/images/content/Newsletter/bigstock-Portrait-of-glamour-business-w-277397581.jpgresources/reading_room/news_archives/jobkeeper_alert149Accounting,Bookkeeping,Coronavirus Support 
Has COVID-19 devalued your business?September2020Aspen CorporateIf 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'?files/images/content/Newsletter/bigstock-Attractive-Aged-Businesswoman--230285287.jpgresources/reading_room/news_archives/has_covid-19_devalued_your_business_150Growth & Wealth Management,Coronavirus Support 
Jobkeeper 2.0 from 28 SeptemberSeptember2020Aspen CorporateThe first tranche of JobKeeper ends on 27 September 2020. Those needing further support will need to reassess their eligibility and prove an actual decline in turnover.files/images/content/Newsletter/JobKeeper from 280920 V4.jpgresources/reading_room/news_archives/jobkeeper_2.0_from_28_september_guide151Tax,Bookkeeping,State and Federal Legislation/ Budgets,Coronavirus Support 
Preventing a Tsunami of InsolvenciesOctober2020Aspen CorporateThe Government has stepped in to prevent a wave of insolvencies when the COVID-19 support measures run their course in December 2020.files/images/content/Newsletter/bigstock-Important-Meeting-Group-Of-Bu-323852932.jpgresources/reading_room/news_archives/preventing_a_tsunami_of_insolvencies152Business Advisory,Coronavirus Support 
JobKeeper: The Next StepsOctober2020Aspen CorporateThe first tranche of JobKeeper ended on 27 September 2020. We look at the issues for those seeking to qualify for the second tranche of JobKeeper and for those no longer eligible.files/images/content/Newsletter/bigstock-proud-family-business-partners-15610502.jpgresources/reading_room/news_archives/jobkeeper__the_next_steps153Tax,Accounting,Bookkeeping,Coronavirus Support 
Budget 2020-21: Road to Recovery?October2020Aspen CorporateThe 2020-21 Federal Budget is a road to recovery paved with cash. By comparison to many, Australia has managed the COVID-19 pandemic well, but good management isn't enough to protect us from the $213.7 billion deficit in 2020-21. The Government has taken to heart the old adage, "You have to spend money to make money" to trade our way out of a black hole.files/images/content/Newsletter/bigstock--165442280.jpgresources/reading_room/news_archives/2020-21_federal_budget154State and Federal Legislation/ Budgets,Coronavirus Support 
APRA reveals $34.4bn super early releaseNovember2020Aspen CorporateOver $34.4bn has been released from Australian Superannuation Funds under the COVID-19 early release scheme, the Australian Prudential Regulation Authority revealed.files/images/content/Newsletter/bigstock-Freelance-Asian-Woman-Working--344673568.jpgresources/reading_room/news_archives/apra_reveals__34.4bn_super_early_release155Superannuation,Coronavirus Support 
JobKeeper clawback beginsNovember2020Aspen CorporateAt the recent Senate Estimates hearing, Jeremy Hirschhorn, the ATO’s Second Commissioner, stated that $120 million in JobKeeper payments had been clawed back from those either deliberately seeking to rort the system or who had made reckless mistakes.files/images/content/Newsletter/David and Bernie looking off camera.jpgresources/reading_room/news_archives/jobkeeper_clawback_begins156Bookkeeping,Coronavirus Support 
Refunds for Tax LossesNovember2020Aspen CorporateIf your company has made a loss, you may be able to claim a tax refund for tax previously paid on profits.files/images/content/Newsletter/bigstock-Important-Meeting-Group-Of-Bu-323852932.jpgresources/reading_room/news_archives/refunds_for_tax_losses157  
Tax deductions for investing in your businessNovember2020Aspen CorporateStimulating investment is high on the Government’s agenda. To encourage spending, the 2020-21 Budget introduced a measure that allows businesses with turnover under $5bn* to immediately deduct the cost of new depreciable assets and the cost of improvements to existing assets in the first year of use.files/images/content/Newsletter/bigstock-Multiethnic-business-team-6068674 (1).jpgresources/reading_room/news_archives/tax_deductions_for_investing_in_your_business158Tax 
JobMaker Hiring Credits: What We Know So FarNovember2020Aspen CorporateWe’ve had quite a few questions about the JobMaker hiring credit announced in the 2020-21 Federal Budget. The legislation enabling the JobMaker scheme has not passed Parliament as yet and until this occurs, the JobMaker rules are not certain and may change.files/images/content/Newsletter/bigstock-proud-family-business-partners-15610502.jpgresources/reading_room/news_archives/jobmaker_hiring_credits__what_we_know_so_far159Tax,Bookkeeping,Coronavirus Support 
NSW Land Tax Assessments include a 2% Foreign Persons Surcharge for Family TrustsDecember2020Domenic TartagliaDo you have a discretionary trust which owns residential land in New South Wales, and/ or holds an interest in a unit trust that owns residential land in NSW? If so, then the recent changes to the State Revenue Legislation Further Amendment Act 2020 (NSW) has implications for you.files/images/content/Newsletter/bigstock--211968226.jpgresources/reading_room/news_archives/nsw_land_tax_assessments160Tax,Growth & Wealth Management,Superannuation 
Has your business suffered a direct financial loss because of Covid 19?December2020Sergio Di VincenzoIf it has, we recommend that you contact your insurance broker to find out if a recent ruling by the NSW Court of Appeal means you could be entitled to compensation.files/images/content/Newsletter/Small/bigstock-Mature-man-with-spectacles-and-277946896.jpgresources/reading_room/news_archives/has_your_business_suffered_a_direct_financial_loss_because_of_covid-19__161Business Advisory,Coronavirus Support 
Last Chance to Access Covid-19 Early Access to SuperDecember2020Aspen Corporate31 December 2020 is the last day you can apply to access your superannuation early under the COVID-19 early access measures.files/images/content/Newsletter/bigstock-Business-Mom-And-Baby-Boy-182059423 small.jpgresources/reading_room/news_archives/last_chance_to_access_covid-19_early_access_to_super162Superannuation,Coronavirus Support 
2021 - Risks and OpportunitiesDecember2020Aspen CorporateWith the borders between the State and Territories all but open and 2021 in sight, there is a hunger for a return to 'normal'. The recent Westpac-Melbourne Institute Index of Consumer Sentiment articulates this desire to 'get on with things'; sentiment reached its highest level since November 2013 and Christmas spending is expected to be consistent with previous years.files/images/content/Newsletter/bigstock-The---New-Year-Journey-And--392629472.jpgresources/reading_room/news_archives/2021_risks_and_opportunities163Business Advisory,Growth & Wealth Management,Coronavirus Support 
Visiting Our Office - SafeWA QR CodeDecember2020Bridget SwarbreckAspen Corporate takes the health of our staff and clients seriously. Because we believe in being proactive, we have decided to utilise the WA Government digital Covid-19 contact register system – "SafeWA".files/images/content/Newsletter/_DSF84043.jpgresources/reading_room/news_archives/visiting_our_office_-_safewa_qr_code164Coronavirus Support 
JobMaker Client GuideDecember2020Aspen CorporateThere is no doubt that JobMaker can be complex!  If you would like to access the hiring credit, then you really do need to be fully informed about eligibility, enrolment and ongoing compliance. To help, we have developed a guide to aid our clients in understanding the benefits and requirements of JobMaker.files/images/content/Newsletter/JobMaker Hiring Credit Guide.jpgresources/reading_room/news_archives/jobmaker_client_guide165Tax,Accounting,Bookkeeping,State and Federal Legislation/ Budgets,Coronavirus Support 
Has Covid Impacted Your Ability to Pay Your Staff Their Super?February2021Domenic TartagliaIf you continue to experience the impact of COVID-19, you may have missed regular super guarantee (SG) payments, paid late or not paid in full.files/images/content/Newsletter/bigstock-Portrait-Of-Engineers-And-Appr-172892687.jpgresources/reading_room/news_archives/has_covid_impacted_your_ability_to_pay_your_staff_super_166Tax,Superannuation,Coronavirus Support 
Winding-up: Simplifying small business insolvencyFebruary2021Aspen CorporateOn 1 January 2021, new laws came into effect that introduce a new, simplified debt restructuring and liquidation framework for small business.files/images/content/Newsletter/bigstock-Layoffs-From-Work-Woman-Says--365950732 (1).jpgresources/reading_room/news_archives/winding-up__simplifying_small_business_insolvency167Business Advisory,Coronavirus Support 
Sole Trader Granted Access To JobKeeper With Backdated ABNFebruary2021Aspen CorporateA sole trader who was able to backdate his ABN has won access to JobKeeper payments in a recent case before the Administrative Appeals Tribunal (AAT).files/images/content/Newsletter/bigstock--202432735.jpgresources/reading_room/news_archives/sole_trader_granted_access_to_jobkeeper_with_backdated_abn168Tax,Business Advisory,Coronavirus Support 
Are you aware that the JobMaker claim period has commenced?February2021Domenic TartagliaJobMaker Period 1 claim opened on the 1 February. JobMaker is a credit available to eligible businesses and non-profit entities that create new jobs (not if you are merely replacing someone who left).files/images/content/Newsletter/bigstock-Portrait-Of-Engineers-And-Appr-172892687.jpgresources/reading_room/news_archives/are_you_aware_that_the_jobmaker_claim_period_has_commenced_169Tax,Business Advisory,Coronavirus Support 
End dates for Covid support measuresFebruary2021Sergio Di VincenzoThe impact of COVID-19 has been felt very differently from region to region. Fortunes vary wildly between business operators subject to ongoing lockdowns and trading impediments to those benefiting from the "new normal".files/images/content/Newsletter/bigstock-Small-business-owners-with-fac-396109217.jpgresources/reading_room/news_archives/end_dates_for_covid_support_measures170Tax,State and Federal Legislation/ Budgets,Coronavirus Support 
The Final Stage Of JobKeeper And How To Access ItFebruary2021Aspen CorporateThe impact of COVID-19 has been felt very differently from region to region. Fortunes vary wildly between business operators subject to ongoing lockdowns and trading impediments to those benefiting from the "new normal".files/images/content/Newsletter/_DSF84043.jpgresources/reading_room/news_archives/the_final_stage_of_jobkeeper_and_how_to_access_it171Tax,Coronavirus Support 
Fuel Tax Credit Rates have changedMarch2021Domenic TartagliaFuel tax credit rates changed as of 1 February 2021 Business which use fuel in heavy vehicles or other machinery, may be eligible to claim credits from the ATO for the fuel tax (excise or customs duty).files/images/content/Newsletter/bigstock-Large-Earth-Moving-Heavy-Equip-3394405.jpgresources/reading_room/news_archives/fuel_tax_credit_rates_have_changed169Accounting,Bookkeeping 
Why are some businesses returning JobKeeper to the ATO?March2021Aspen CorporateSuper Retail Group - owner of the Supercheap Auto, Rebel, BCF and Macpac brands - handed back $1.7 million in JobKeeper payments in January after releasing a trading update showing sales growth of 23% to December 2020. Toyota announced that it will return $18 million in JobKeeper payments after a record fourth quarter. And, Domino’s Pizza has also handed back $792,000 of JobKeeper payments.files/images/content/Newsletter/bigstock-Differnt-Colors-Of-Australian--308292166.jpgresources/reading_room/news_archives/why_are_some_businesses_returning_jobkeeper_to_the_ato_170Growth & Wealth Management,Coronavirus Support 
Covid-19 Vaccinations and the WorkplaceMarch2021Aspen CorporateThe first COVID-19 vaccination in Australia rolled out on 21 February 2021 preceded by a wave of protests. With the rollout, comes a thorny question for employers about individual rights, workplace health and safety, and vaccination enforcement.files/images/content/Newsletter/bigstock-Coronavirus-Vaccination-Docto-388604785.jpgresources/reading_room/news_archives/covid-19_vaccinations_and_the_workplace171Business Advisory,Coronavirus Support 
The Pandemic Productivity GapMarch2021Aspen CorporateA recent article published in the Harvard Business Review by Bain & Co suggests that the pandemic has widened the productivity gap between top performing companies and othersfiles/images/content/Newsletter/bigstock-Rear-View-Of-Woman-Working-Fro-381518243.jpgresources/reading_room/news_archives/the_pandemic_productivity_gap172Growth & Wealth Management 
How to sell your BusinessMarch2021Aspen CorporateA recent article published in the Harvard Business Review by Bain & Co suggests that the pandemic has widened the productivity gap between top performing companies and othersfiles/images/content/Newsletter/David and Bernie looking off camera.jpgresources/reading_room/news_archives/how_to_sell_your_business173Business Advisory 
Protecting your business from the insolvency of your customersMarch2021Simon ReadAre you ensuring your business is doing all it can to protect against insolvent customers? Many are predicting a significant increase in business insolvency in 2021. With the Covid19 protections for insolvent trading having ended, there is heightened risk there may be more insolvent trading activity in 2021 affecting our clients.files/images/content/Newsletter/180522-797.JPGresources/reading_room/news_archives/protecting_your_business_from_the_insolvency_of_your_customers174Business Advisory,Growth & Wealth Management,Coronavirus Support 
Activity Statements – avoid ATO penaltiesMarch2021Domenic TartagliaLast November The ATO commended sending out electronic activity statements (pay as you go (PAYG) or goods and services tax (GST)), as a replacement to paper versions of the statements, particularly if a business has made an electronic lodgement.files/images/content/Newsletter/7shifts-ZHWInTDkuV8-unsplash (1).jpgresources/reading_room/news_archives/protecting_your_business_from_the_insolvency_of_your_customers175Tax 
SME Loan SchemeMarch2021Sergio Di VincenzoAs part of last Thursday's post Jobkeeper Covid-19 support announcement, the Morrison government revealed an extension to, and expansion of, its SME Loan Guarantee Scheme.files/images/content/Newsletter/bigstock-Happy-woman-making-payment-onl-290448745.jpgresources/reading_room/news_archives/sme_loan_scheme_expansion176Tax,State and Federal Legislation/ Budgets,Coronavirus Support 
Can you afford an Audit?March2021Rob Lo PrestiThe ATO has recently indicated that it will be stepping up its Audit efforts following a hold on compliance activities during the height of Covid-19.files/images/content/Newsletter/Small/Rob, Bernie Eujanie - small.jpgresources/reading_room/news_archives/can_you_afford_an_audit177Business Advisory,Superannuation 
National licence recognition for tradiesApril2021Aspen CorporateBuilders, electricians, plumbers, architects, real estate agents, security guards and other workers who hold an occupational licence in their home state or territory and who want to do the same work in another state or territory will soon be automatically deemed to have the necessary licence.files/images/content/Newsletter/A-Female-Worker-In-A-Casual.jpgresources/reading_room/news_archives/national_licence_recognition_for_tradies178State and Federal Legislation/ Budgets 
JobMaker fails to boost employmentApril2021Aspen CorporateThe Government's JobMaker scheme has created 609 new jobs since registrations opened on 1 February 2021, despite around 15,000 businesses registering their interest in the scheme.files/images/content/Newsletter/bigstock-Portrait-of-two-young-tradesme-102026336.jpgresources/reading_room/news_archives/jobmaker_fails_to_boost_employment179Bookkeeping,State and Federal Legislation/ Budgets,Coronavirus Support 
Tax Treatment of JobKeeper payments handed back to the ATOApril2021Aspen CorporateThe ATO has clarified the tax treatment of JobKeeper payments handed back to the Government. The clarification comes after the Super Retail Group, Dominos Pizza and Toyota collectively returned more than $20 million in JobKeeper payments after reporting exceptional trading results.files/images/content/Newsletter/bigstock--193878688.jpgresources/reading_room/news_archives/tax_treatment_of_jobkeeper_payments_handed_back_to_ato180Tax,Coronavirus Support 
ATO targets profits of professional service firmsApril2021Aspen CorporateThe Australian Taxation Office (ATO) has been concerned for some time about how many professional services firms are structured – specifically, professional practices such as lawyers, architects, medical practices, engineers, architects etc., operating through trusts, companies and partnerships of discretionary trusts and how the profits from these practices are being taxed.files/images/content/Newsletter/bigstock-Important-Meeting-Group-Of-Bu-323852932.jpgresources/reading_room/news_archives/ato_targets_profits_of_professional_service_firms181Tax 
The 1 July 2021 Superannuation changesApril2021Aspen CorporateChanges from 1 July 2021 will impact how much money you can contribute to superannuation and how much you can have in your retirement phase super account.files/images/content/Newsletter/bigstock-Couple-Consulting-Lawyer-About-336793984.jpgresources/reading_room/news_archives/the_1_july_2021_superannuation_changes182Superannuation 
Director resignations: new laws apply from Feb 2021April2021Bernadette SmithFrom 18 February 2021, a company director will not be able to backdate their resignation by more than 28 days or resign if it means the company would be left without a director.files/images/content/Newsletter/bigstock-Attractive-Aged-Businesswoman--230285287.jpgresources/reading_room/news_archives/director_resignations__new_laws_apply_from_18_february_2021183Business Advisory,State and Federal Legislation/ Budgets 
Important Casual Staff ChangesApril2021Domenic TartagliaIf you employ casual staff, you need to be aware of recent changes to the Fair Work Act on workplace rights and your obligations to your casual employees.files/images/content/Newsletter/bigstock-Portrait-Of-Engineers-And-Appr-172892687.jpgresources/reading_room/news_archives/important_casual_staff_changes184State and Federal Legislation/ Budgets 
Say Goodbye to the ATO Business Portal - ATO turns on the 'Online services for business'May2021Domenic TartagliaThe ATO has commenced its Online services for business, replacing the existing Business Portal as the default service for businesses interacting directly with the ATO online.files/images/content/Newsletter/Small/managers smiling looking at eachother.jpgresources/reading_room/news_archives/say_goodbye_to_the_ato_business_portal_188Tax,State and Federal Legislation/ Budgets 
Tax exemption for 'granny flat' arrangementsMay2021Aspen CorporateTo protect older Australians, the Government has moved to formalise ‘granny flat arrangements’ by providing an incentive to protect all parties in the arrangement.files/images/content/Newsletter/bigstock-Mother-and-daughter-leading-th-262017376 - Copy.jpgresources/reading_room/news_archives/tax_exemption_for__granny_flat__arrangements185Tax 
The New Lifetime Director IDsMay2021Aspen CorporateDirectors will be required to register for a unique identification number that they will keep for life, much like a tax file number under a rewrite of Australia’s business registers.files/images/content/Newsletter/7shifts-ZHWInTDkuV8-unsplash (1).jpgresources/reading_room/news_archives/the_new_lifetime_director_ids186Tax,Business Advisory 
Your SMSF: when expenses and investments are not at arm’s-lengthMay2021Aspen CorporateWe often get questions from clients about what they can and cannot do in their SMSF. Often the questions relate to related party transactions – that is, interactions between the SMSF, its assets, and its members (or relatives of members).files/images/content/Newsletter/bigstock-Old-couple-doing-exercises-in--24141350.jpgresources/reading_room/news_archives/your_smsf__when_expenses_and_investments_are_not_at_arm_s-length187Superannuation 
Access WA Government Lockdown Compensation GrantMay2021Sergio Di VincenzoThe WA Government has announced a targeted Lockdown Compensation Grant for Small Business in the Perth and Peel region which were severely impacted by the ANZAC Day long weekend lockdown and subsequent restrictions.files/images/content/Newsletter/bigstock-Coronavirus-Covid---Floral-S-369849487.jpgresources/reading_room/news_archives/wa_government_lockdown_compensation_grant189State and Federal Legislation/ Budgets,Coronavirus Support 
The Balancing Act Budget: Budget 2021-22Mary2021Aspen CorporateThe 2021-22 Federal Budget is a balancing act between a better than anticipated deficit ($106 bn), an impending election, and the need to invest in the long term.files/images/content/Newsletter/bigstock--165442280.jpgresources/reading_room/news_archives/the_balancing_act_budget__budget_2021-22190State and Federal Legislation/ Budgets,Coronavirus Support 
Single Touch Payroll Phase 2 is on it's wayMay2021David ScottSingle Touch Payroll Phase 2 reporting will become mandatory from 1 January 2022. STP Phase 2 aims to streamline ATO reporting obligations for the payer and payee and remove the need for manual reporting to other government agencies.files/images/content/Newsletter/_DSF85103.jpgresources/reading_room/news_archives/single_touch_payroll_phase_2_is_on_it_s_way191Bookkeeping 
Work from home expenses under scrutiny & the perils of browsing FacebookJune2021Aspen CorporateIf you worked from home during lockdown and spent money on work related items that were not reimbursed by your business, you might be able to claim some of these expenses as a deduction – but not everything you purchase can be claimed. Find out if why you may be able to claim gloves, but not socks.files/images/content/Newsletter/bigstock-working-from-home-family.jpgresources/reading_room/news_archives/work_from_home_expenses_under_scrutiny___the_perils_of_browsing_facebook192Tax 
Access the ANZAC weekend lockdown grantJune2021Sergio Di VincenzoThe $2,000 Lockdown Compensation Grant was created to assist small business in the Perth and Peel region which were severely impacted by the ANZAC Day long weekend lockdown and subsequent restrictions. Applications for the Small Business Lockdown Assistance Grant are now open.files/images/content/Newsletter/bigstock-Coronavirus-Covid---Floral-S-369849487.jpgresources/reading_room/news_archives/accessing_the_anzac_weekend_lockdown_grant193Coronavirus Support 
Am I taxed on insurance payouts?June2021Aspen CorporateAustralia has had its fair share of disasters over the last few years – drought, bushfires and floods – that have ramped up the volume of insurance claims. Most people would assume that if and when they need to claim on their insurance, the insurance payout covers the damage and is not income assessed for tax purposes - but this is not always the case.files/images/content/Newsletter/bigstock-Composition-About-Australian-W-343659112.jpgresources/reading_room/news_archives/am_i_taxed_on_an_insurance_payout_   
What changes on 1 July 2021?June2021Aspen CorporateSuperannuation changes to: • guarantee • obligations for new staff • indexation increases contribution caps and the transfer balance cap • concessional and non-concessional contribution caps • transfer balance cap • minimum superannuation drawdown rates Single Touch payroll reportingfiles/images/content/Newsletter/bigstock--188783275.jpgresources/reading_room/news_archives/what_changes_on_1_july_2021_195Bookkeeping,Superannuation 
Aspen in the News: How to structure and manage flexible teamsJune2021In The BlackThe pandemic has been a catalyst for big changes - not only in the way we work and the technology we use, but also in how teams are structured and managed.files/images/content/Newsletter/In the black - June 2021.jpghttps://www.intheblack.com/articles/2021/06/01/how-structure-manage-flexible-teams?utm_medium=social_media_organic&utm_source=SMARP&utm_campaign=Article_How_to_structure_and_manage_flexible_teams&utm_term=image&utm_content=InPractice196Business Advisory,Coronavirus Support 



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