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Running Multiple Businesses Under One Company- Possible or Not?

If you are wondering whether you can trade multiple businesses under one company name, we are here to guide you through. The answer is yes, you can trade under multiple business names and in multiple ways. Overview of Corporate Personality Do you know what corporate personality is? It refers to a company that is considered […]

New Guidance On Allocation Of Professional Firm Profits Released

The Australian Taxation Office recently released its compliance approach for new guidance on the allocation of profits or income of professional firms. This finalised practical guideline applies from 1 July 2022. It sets out the approach followed by the ATO to the allocation of profits or income from professional firms in the assessable income of […]

Business Costs Assistance Program Round Four – Construction

The Victorian Government has recently announced that it will provide grants to eligible construction businesses under the Business Costs Assistance Program Round 4. One-off payments will be offered to employing and non-employing construction businesses that meet the eligibility criteria and are impacted by the two-week shutdown from 21 September – 4 October 2021. Based on […]

Supporting Victorian Businesses Through To Reopening

The Commonwealth and Victorian Governments have announced a jointly funded package to support thousands of small and medium-sized businesses to reopen through the next six weeks as Victoria reaches 70 to 80 percent fully vaccinated threshold. This will provide support to more than 160,000 businesses, ranging from retailers and gyms to hairdressers and hotels. Of […]

Business Recovery and Resilience Mentoring

To help the small businesses in navigating the economic challenges due to COVID-19 restrictions, the Victorian Government is partnering with the Victorian Chamber of Commerce and Industry (VCCI) to deliver a business mentoring program. This program allows the eligible business owners to receive up to four 2-hour mentoring sessions conducted by the industry experts to […]

Everything About The Business Continuity Fund

The present COVID-19 situation and the lockdown restrictions have impacted many lives and households in the Australian Capital Territory in one or other ways that are causing financial distress to the residents. As a result, there are many tenants and landlords having a hard time meeting their rental agreements. To prevent the drastic effects of […]

Company SetUp

Business Tips: Getting Ready for Year End

Some things to consider before 30 June 2021 if you run a business… YEAR-END STOCKTAKE / WORK IN PROGRESSIf applicable, you need to prepare a detailed Stocktake and/or Work in Progress listing as of 30 June 2021. Review your listing and write-off any obsolete or worthless stock items. WRITE-OFF BAD DEBTSReview your Trade Debtors listing […]

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