Category Archives: Blog Posts

Tax Planning

Tax Planning is the examination of a financial situation from a tax perspective. It involves evaluating the business’s current financial situation then estimating probable income and expenses for the remainder of the financial year. Mostly importantly it involves the analysis of this estimated annual income and suggesting a number of strategies to minimise the tax…

$10K grant available to businesses

Program Summary The Victorian Government has announced a $500 million package, the Business Support Fund (the Fund), to support small businesses that employ staff and have been highly impacted by COVID-19 restrictions. The fund provides eligible businesses with one-off grants of $10,000. While the Business Support Fund was only initially available to those that were…

The ATO are allowing a temporary simplified method of calculating home office expenses for those who are required to work from home due to the COVID-19 situation for the period 1 March 2020 until at least 30 June 2020 (may be extended). You can claim a deduction of 80 cents for each hour (as opposed…

A handy FAQ's Sheet in regards to the JobKeeper payment has been released. Please see the link below to access the FAQ's: http://spinell.com.au/jobkeeper-payment/ For more information in regards to the Governments economic response to the Coronavirus, please refer to our website: http://spinell.com.au/coronavirus-covid-19-info/ If you have any queries in relation to this matter or require any…