Insights
Insights & Updates
Tax, compliance and business advisory updates from the TNFG team — practical, plain-English, and specific to running a business in the Macedon Ranges.
Beware of increased ATO fines
Overdue ATO lodgement Gee whiz, the ATO are certainly back to their debt-collecting best! We cannot stress enough that now is not the time to get on the bad side with the tax office, given their increased stance on being tough with penalties for late lodgements and overdue debts. We have even heard
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5 questions to ask when you are buying a business in Macedon Ranges
Buying a new business Purchasing an existing company is a great way to expand your business empire. You can buy out a close competitor, or dip a toe into a new industry and expand your reach as a business group. But whatever the reason for the acquisition, you need to ensure you’re not buying a lemo
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Reminder BAS & Super Payments are due soon
BAS & Super Payments are due soon! If you are lodging your own quarterly activity statement you need to lodge and pay by the 28th of July. If you lodge using our registered agent electronic services you will have until the 25th of August to lodge and pay. Prepare now for your 1 April - 30 June quart
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Tax Deductions Tips & TricksSmall Business Energy Incentive
Small Business Energy Incentive The federal government recently announced a small business energy incentive as part of the 2023-24 Federal Budget, which allows a business with an aggregated annual turnover of less than $50 million a 20% bonus deduction for expenditure that supports electrification a
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Key Tax Dates for July and August
Important reminders - July & August For most of you, this means finalising your general ledger accounts in order to get the necessary information across to The Neill Family Group to prepare your final 2023 accounts and tax returns. However, it can also be a time where we forget that our businesses h
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Prepare for Finalising Single Touch Payroll
Finalising STP Employers must complete the finalisation declaration by 14 July for employees. Employers with a mixture of employees and closely held payees have until 30 September to make the declaration. Small employers (fewer than 19 employees) that only pay closely held payees have until the paye
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Tax Tips for Trusts in 2023
Family Trust or Investment Trust Tax Tips While a trust structure can be worthwhile to protect assets, streamline the tax return process and maximise allowable deductions, they are also complex structures and the ATO has particular interest in making sure the regulations that govern them are adhered
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How to Prepare Your Business for EOFY
Preparing your business for EOFY Want to rest assured your business is prepared for EOFY - keep reading!
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Tax Tips for Individuals 2023
2023 Tax Return Are you making the most of allowable tax deductions? Want to understand how much mileage you can claim driving up and down the Calder Freeway driving into Melbourne for work each day? Or how to deduct the cost of a new computer for your home office? Read on as we discuss ways for yo
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Tax Tips for Gisborne Small Businesses in 2023
Tax Tips for Small Businesses Its that time again where The Neill Family Group like to remind our small business clients on their most common tax tips to ensure you keep more of your hard-earned money and reduce your tax bill! The Neill Family Group has a wide variety of business clients in the surr
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Who Are The Neill Family Group? Formally King & Whittle
The Neill Family Group Curious about why we are now known as The Neill Family Group? We wanted to briefly explain why we've begun operating under a new name: The Neill Family Group. Our family members, Stuart Neill, Joanne Poyser (formerly Neill), and their father Graeme Neill (the esteemed patriarc
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2023 Federal Budget
2023 Federal Budget The Federal Treasurer Jim Chalmers handed down the 2023 Federal Budget on 9 May 2023. The following is a list of highlights from a tax and superannuation perspective. Businesses The instant asset write-off threshold for small businesses applying the simplified depreciation rules
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