Condon Noller

30/08/2023

Considering a new business partnership? 🤝 Consider the following advantages and disadvantages before starting or joining a partnership. Dive into our latest insights on our website where we break down:

✅ What a partnership structure looks like.

🔄 Differences between general and limited partnerships.

🌟 The pros, like tax benefits and enhanced teamwork.

❗ The cons, including potential disputes and liabilities.

🔍 Key points to keep in mind when navigating this structure.

Not sure if it's right for you? Let's chat and explore the best route for your business ambitions. Read now - https://hubs.la/Q01-NgRH0

Starting a partnership may be a high-yielding decision whether you are in the business game or setting your sights on a new business venture. A partnership […]

24/08/2023

🗓 A friendly reminder that your June Quarter BAS is due on the 25th August. 🗓

22/08/2023

🚗 Thinking of buying a car for business use? There are potential tax benefits, but also implications to consider.

Should the car be under the business name?

What expenses can you claim?

How does depreciation work?

Dive into our latest blog to get clarity on these questions and ensure you're on the right track! 📊 Always consider consulting a tax adviser before making a decision - https://hubs.la/Q01-N9P_0'

Regardless of whether or not the owner is a company or an employee, a car purchased for business use can provide tax benefits to the owner. […]

17/08/2023

Considering purchasing an existing company? 🏢 Expansion has its rewards, but you don't want to end up with a lemon! 🍋

Dive into our latest blog post where we share 5 vital questions to ask before sealing the deal. Ensure stability, growth potential, and a bright future for your investment. 🔗 https://hubs.la/Q01-Ncz60

Thinking of acquiring a company? Whether you’re an entrepreneur, or a seasoned business owner, these are questions to ask prior to purchase.

14/08/2023

The problems facing fruit 🍎 and vegetable 🌽 farming and manufacturing are as various as the fruit and vegetables themselves.

Those trying to recover from last year's floods and weather events are bound to be hit the hardest, needing a decent season to bolster reserves.

Already impacted by the significant labour, packaging, and transport increases, on top of a worldwide shortage of fertilisers, the interest rates and household budgets flow on effect is predicted to be devastating for farming and agri businesses.

If you are finding a large disparity between pricing agreements and costs, contact Condon Noller to see how we can help you.

09/08/2023

Just a friendly reminder that your PAYG Annual Summary Report is Due (through STP) on 14 August.

07/08/2023

Are you planning training for your business? 👨‍🏫

Not all courses provided by training companies will qualify for the Skills and Training Boost that gives you a 120% tax deduction.

Qualifying training providers will be registered by:

👉 Tertiary Education Quality and Standards Agency (search the register – includes States and Territories)
👉 Australian Skills Quality Authority (ASQA)
👉 Victorian Registration and Qualifications Authority (search the register)
👉 Training Accreditation Council of Western Australia

While some training you might want to have engaged in might not be delivered by registered training organisations, there is still a lot out there, particularly the short courses offered by universities or the flexible courses designed for upskilling rather than as a degree qualification.

If you have recently completed performance reviews for staff and training is part of their development pathway, it might be worth exploring.

Find out more at: https://hubs.la/Q01ZTWGL0

04/08/2023

Condon Noller strives to deliver peace of mind. To do so, we follow a few core values.

One of which is to keep working on a task until we get a result.
We are driven and determined to deliver the best financial outcomes for our clients.

If this sounds like a team you want to be a part of, please send your resume to [email protected]

02/08/2023

Important dates to note in August:

📆 14 August - PAYG Annual Summary Report Due (through STP)

📆 21 August - July monthly Instalment Activity Statement (IAS) is due

📆 25 August - June Quarter BAS is due (if lodged electronically by tax/BAS agents)

📆 28 August - Lodge Taxable Payments Annual Report (TPAR)

31/07/2023

The Skills and Training Boost gives you a 120% tax deduction for external training courses provided to employees.

Sole traders, partners in a partnership, independent contractors and other non-employees do not qualify for the boost as they are not employees. Similarly, associates, such as spouses or partners or trustees of a trust, don’t qualify.

As always, there are a few rules:

👉 Registration for the training course had to be from 7:30 pm (AEST) on 29 March 2022 until 30 June 2024. If an employee is part of the way through an eligible training course, enrolments in courses or classes after 29 March 2022 are eligible, not before.

👉 The training needs to be deductible to your business under ordinary rules. The training is related to how the business earns its income.

👉 A registered training provider needs to charge your business (either directly or indirectly) for the training (see what organisations can provide training for the boost).

👉 The training must be for employees of your business and delivered in-person in Australia or online.

👉 The training provider cannot be your business or an associate of your business.

Read the full article: https://hubs.la/Q01Z337m0

26/07/2023

The 120% skills, training, and technology costs deduction for small and medium businesses have passed Parliament. We’ll show you how to maximise your deductions.

The boosts are available to small business entities (individual sole traders, partnerships, companies or trading trusts) with an aggregated annual turnover of less than $50 million.

The types of expenses that might be eligible for the technology boost include:

💻 Digital enabling items – computer and telecommunications hardware and equipment, software, internet costs, systems and services that form and facilitate the use of computer networks;

📸 Digital media and marketing – audio and visual content that can be created, accessed, stored or viewed on digital devices, including web page design;

📦 E-commerce – goods or services supporting digitally ordered or platform-enabled online transactions, portable payment devices, digital inventory management, subscriptions to cloud-based services, and advice on digital operations or digitising operations, such as advice about digital tools to support business continuity and growth; or

🔐 Cyber security – cyber security systems, backup management and monitoring services.

Read the full article: https://hubs.la/Q01Z31Gw0

24/07/2023

Just a friendly reminder that your June BAS and Super Guarantee Contributions are due on July 28.

Timely processing of superannuation guarantee payments helps avoid penalties and maximise tax benefits.