Author name: Oddball

From Government Tax-free COVID-19 related grants Late last year, legislation passed that provided that certain grant payments in response to COVID-19 would be made non-assessable non-exempt income. The legislation requires the Treasurer to declare that a grant program is eligible by legislative instrument if he is satisfied that it was in response to the economic […]

We’re often asked the best way to sell a business. There are two key components at play in the sale of a business; structuring the transaction and positioning the business to the market. Both elements are important and can significantly impact your result. Structuring the transaction covers things such as pricing the business, the terms

For those clients that have needed to make claims on their Audit Insurance, it has proven to be a good safety net to meet unexpected costs.  These are the costs that occur for work that needs to be done to prepare documents necessary for a Government audit (ATO, Revenue NSW etc).  A lot of time can

Last month the NSW State Budget was delivered. The NSW Government has announced different measure designed to stimulate the NSW economy with changes being made to property owners or businesses. The expected Budged deficit as stated will reach $16 billion next year as mentioned by NSW Treasurer Dominic Perrottet. The current situation with the deficit has

Reducing unemployment is a national priority. While the unemployment rate is expected to decline in 2021, further rises are expected as businesses restructure in response to the pandemic. Wage growth will also be subdued with excess capacity in the market. New analysis from the Reserve Bank of Australia suggests one in five jobs were saved

The HomeBuilder scheme provides a tax-free grant to those building a new home or renovating. To date, around 27,000 homes are expected to be covered by the scheme. The highest number of applications so far have come from Victoria (7,636), followed by Queensland with 5,954. New South Wales property prices mean that many homes exceed

The first deadline for employers to elect to access the JobMaker Hiring Credit ends on 6 Jan 2021; we explore where the scheme is up to. We also cover the extension of the recently enacted 2020-21 Budget instant asset write-off rule changes that will benefit some Australian businesses connected with large global groups. And, are

As we enter December, the summer of cricket is officially upon us. In the household of John Kalachian, one of the partners of Fortis Accounting, this means weekends are taken up with hours of watching, scoring and training for cricket. You see, John’s eldest daughter Sonya (16) and Son Joseph (14) are cricketers. They play

On Tuesday night the Federal Government unveiled their big spending plan to navigate the economic disaster from the coronaviris crisis. Below are some of the big winners and losers that are affected by this new budget. WINNERS Hospitality Venues: The Treasurer wants NSW to get out and about to restaurants, cafes and clubs and they are willing

We’ve had quite a few questions about the JobMaker hiring credit announced in the 2020-21 Federal Budget. The legislation enabling the JobMaker scheme has not passed Parliament as yet and until this occurs, the JobMaker rules are not certain and may change. More details should be available soon and we’ll let you know as soon