The Stimulus Package: What You Need To Know The Government has announced a $17.6 billion investment package to support the economy as we brace for the impact of the coronavirus. The yet to be legislated four part package focuses on business investment, sustaining employers and driving cash into the economy. For business1. Business investment– Increase and extension of the instant...

Company Directors take note – Director Penalty Regime legislation changes you need to know about.Effective from 1 April 2020, directors will have increased exposure to company debt with outstanding monies owed related to Goods and Services Tax (GST), Wine Equalisation Tax (WET) and Luxury Car Tax (LCT) being applied as personal liabilities to any and all directors of the company....

Legislation introducing the Superannuation Guarantee Amnesty (the amnesty) has been passed in Parliament and is awaiting Royal Assent.The amnesty provides employers with a heavy incentive to disclose and rectify accordingly, any historic non-compliance with their superannuation guarantee (SG) obligations. Now is the time for employers to urgently commence review of their historic SG compliance and not miss the window in...

The assistance and knowledge I receive on accounting, human resources, training, technology and streamlining accounting systems is invaluable. Beyond all of that, it’s the people at Keeping Co that make our working relationship invaluable. Rowie Dillon, Founder & CEO

It’s the festive season, and it’s around this time that clients often ask us if Christmas Parties for staff are tax-deductible. The short answer is that Christmas Parties are generally classified as Entertainment and are therefore not available as a tax deduction. Additionally, GST cannot be claimed on non-deductible items. Christmas parties and other forms of entertainment can only be...

Keeping Company were proud sponsors of the R U OK? Golf Day and Gavin Larkin Memorial Trophy 2019 held at Moore Park yesterday. R U OK? is an Australian non-profit suicide prevention organisation, founded by Larkin in 2009. It revolves around the slogan and empowers people to meaningfully connect with those around them and start a conversation with anyone who...

Tip-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. Common problem areas that people feel obliged to report include suspected tax...

WHAT ARE YOU REALLY ENTITLED TO? The 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...