The Government is providing temporary cash flow support to small and medium businesses and not-for-profit organisations that employ staff during the economic downturn associated with the coronavirus. The Boosting cash flow for employers measure will be done through two sets of cash flow boosts delivered from 28 April 2020 to support employers to retain employees. […]
Under the JobKeeper Payment, businesses impacted by the coronavirus will be able to access a subsidy to continue paying their employees. The Government will provide a fortnightly payment of $1,500 per eligible employee until 27 September 2020. The JobKeeper Payment is a scheme to support businesses significantly affected by the coronavirus to help keep more […]
Income Support for Individuals Economic response to the coronavirus The Government is providing support for individuals to assist them during the next six months. Increased and accelerated income support Summary The Government is temporarily expanding eligibility to income support payments and establishing a new, time-limited Coronavirus supplement to be paid at a rate of $550 […]
Boosting Cash Flow for Employers The Government is enhancing the ‘Boosting Cash Flow for Employers’ measure it announced on 12 March 2020. The Government is providing up to $100,000 to eligible small and medium-sized businesses, and not for-profits (NFPs) that employ people, with a minimum payment of $20,000. These payments will help businesses and NFPs […]
As tax season approaches, research has shown that the majority of people hire a tax accountant to help them file their taxes. However, there are many tax accountants who are unqualified to file taxes. That’s why it is important that people understand what characteristics tax accounts should have. Here are some tips to help people […]
An income statement (commonly known as a profit and loss statement or your [P&L]), is a critical tool to know as a business owner. It answers the most important question: Is your company profitable? Is it running efficiently? And what opportunities are there in identifying areas to focus on i.e. opportunities for increasing revenue and/or […]
Has it been challenging to look after your Books along with your Core business responsibilities? Is it NOT worth employing a bookkeeper or an Accountant Full time/ Part time for your Business? Struggling to meet the TAX OBLIGATION for the Business i.e. BSA/ IAS lodgments and Tax returns? Has it been time consuming and distracting to […]
We’re sure you have heard about Cloud accounting practices by now, and perhaps wonder what all the fuss is about, or you might be like a lot of our clients and already migrated your accounts into ‘the cloud’. If you have been sitting on the fence, read on to find out what all the fuss […]
Have you missed to lodge your past year Tax Returns? Have you received penalty notice from the ATO? Do you have query regarding your Tax liability to the ATO? Experts at Tax Purpose can answer your all questions! We all know that it is compulsory to lodge an Australian tax return every year, still […]
At Tax Purpose, we specialize in providing comprehensive Bookkeeping and Taxation services to our clients for various industries. We have many success stories of assisting Uber drivers in setting up their ABN and GST registration and providing BAS and TAX Return services. Our duty is to get all Uber drivers to pay lowest possible tax […]
