Arabon Accountants

18/02/2024

From 1 July 2025, a proposed new tax will apply to future earnings on super balances above $3m. Based on what we know to date, what can you expect if you’re likely to find yourself in this situation? Learn more:

From 1 July 2025, a proposed new tax will apply to future earnings on super balances above $3m.

14/02/2024

DATE FOR THE DIARY 🗓️ 🚩
Lodge and pay quarter 2, 2023–24 business activity statement (BAS) for all lodgment methods.

14/02/2024

Right back at you CPA Australia 🥰

13/02/2024

We know you put in so much hard work to your business so why compromise your skills and knowledge by not protecting it?

This helpful post from business.gov.au explains their top 4 tips for protecting your business' intellectual property (IP). Read below:

4 tips for protecting your intellectual property (IP)!

To help your small business protect your IP and set your business up for long-term success, follow IP Australia - Official tips:

1. Know your IP: consider your unique creations and what sets your business apart from competitors. For example, do you have a name and/or logo that you can protect with a registered trade mark?

2. Do your research: ensure your ideas are new and don’t infringe on existing IP rights. For trade marks, you can use IP Australia’s TM Checker tool: https://bit.ly/3uaXO0T to check the potential registrability of your brand name or logo.

3. Keep it confidential: don't share your idea until your IP right is registered. If you need to share it, use a non-disclosure agreement. This is especially important for a patent.

4. Monitor the market: if you believe someone is infringing on your IP, check your options for taking action: https://bit.ly/3SC1e6c

Learn more about the 4 types of IP you can register through IP Australia: https://bit.ly/3VEHttH

31/01/2024

If you’ve earnt income from overseas, you’ll need to include it in your Australian tax return 🌏

Tips:
➡️ the financial year ends in December for over 100 countries! Remember to calculate your overseas earnings for the Australian financial year (1 July – 30 June).

➡️ don’t forget you may be eligible to claim a foreign income tax offset if you’ve paid tax in another country. In some circumstances, this will help you avoid paying taxes on the same income twice.

➡️ convert your foreign income into Australian dollars.

28/01/2024

We have all heard about the Federal Government's revised 'Stage 3 tax cuts" to be rolled out from 1 July. This article from Tax Banter expertly explains the proposed changes in detail to help taxpayers understand what it may mean for them. Read here...

The Government has now confirmed the details of its proposed revisions to the Stage 3 personal tax cuts, which take […]

25/01/2024

We are enjoying a long weekend and will be back in your inboxes or on the phones first thing Monday morning 29 January. Enjoy the break!

24/01/2024

IMPORTANT DUE DATE
Employers must make quarter 2, 2023–24 super guarantee contributions to funds by 28 January. Because this falls on a Sunday and Friday is a public holiday, you need to make this payment TODAY or TOMORROW to avoid penalties.

Note: Employers who do not pay minimum super contributions by this date must pay the super guarantee charge and lodge a superannuation guarantee charge statement by 28 February 2024.

24/01/2024

It’s important to keep up with trends and changes to give your business the best chance of success. This article outlines some trending topics for 2024 to help you plan for the upcoming year including AI, sustainability and cyber security. Read the article:

Check out some trending topics for 2024 to help you plan for the upcoming year.

17/01/2024

After a series of extreme weather and rainfall events in South East Queensland, the Queensland Rural and Industry Development Authority (QRIDA) and state government have stepped in offering disaster assistance recovery grants and financial assistance to affected primary producers and small businesses in eligible areas.

Learn more about what assistance may be available to your small business and eligibility here:

Following extreme weather and rainfall in SEQ, the state government are offering disaster assistance recovery grants to eligible small businesses.

17/01/2024

Thank you for your wonderful review Merrie. We are so happy to know that we keep you organised and informed about your tax requirements 😀

02/01/2024

The Treasurer released the Government’s Mid-Year Economic and Fiscal Outlook (MYEFO) in mid-December. The MYEFO updates the economic and fiscal outlook from the 2023–24 Federal Budget. It takes into account the decisions made since the release of the Federal Budget and revises the Budget aggregates. It also contains a number of tax, superannuation and related policy announcements. Learn more here:

The Treasurer has released the Mid-Year Economic and Fiscal Outlook (MYEFO) 2023–24. A deficit of $1.1 billion is forecast in 2023–24.

02/01/2024

Welcome to 2024! We look forward to working with each of our clients this year and seeing you all grow and prosper!

We are enjoying our break and will be back on deck next Monday 8 January. Stay safe!

21/12/2023

Both our Sherwood and Burleigh offices are closed until Monday 8 January 2024. Our team are taking this time to celebrate the season with our nearest and dearest and reflect on another wonderful year. Stay safe and healthy and see you in 2024!

13/12/2023

For many businesses, we are in and approaching the busiest time of the year. Often this means you need employees to work additional hours or make roster changes. You also need to factor in public holidays and their choice about whether they work those or not.

It’s important to make sure you’re meeting your obligations and providing the correct entitlements over the holiday period. If you need a refresher on the rules and how they may apply to your business’ situation, Fair Work have compiled some very helpful info. Click here:

During the busiest time of the year, businesses often need employees to work additional hours or change rosters and factor in public holidays.

07/12/2023

Thanks so much Michael for your wonderful review. It is always a pleasure working with you and receiving valuable feedback like yours is what keeps us going above and beyond for our clients.

06/12/2023

From today, new rules apply to the use of fixed term contracts made on or after 6 December 2023.

The new rules include a requirement for employers to give any employee they’re engaging on a new fixed term contract a Fixed Term Contract Information Statement (FTCIS).

The rules also include limitations on how fixed term contracts can be used. There are some exceptions to who these rules apply to. Learn more here...

Fixed term contract employees are employed on a contract that terminates at the end of a set period. From 6 December 2023, there are rules that apply to the use of fixed term contracts.

22/11/2023

Planning your staff Christmas party in the coming weeks? Before you confirm the party of the year, make sure your learn about your FBT obligations and what may land you with an unwanted Christmas tax bill this year...

The ATO has announced its annual warning to employers planning their staff Christmas parties and FBT tax implications.