Accounting
Changes to GST on Low Value Imported Goods
Since the GST system was introduced in 2000, imports of items that have cost less than $1,000 have been exempt from GST. From 1 July 2018, GST will apply to retail sales of low value physical goods ($1,000 or less) that have been imported to Australia and sold to consumers. The existing process to collect…
Read MoreRefer A Friend
From now until the 30th of September 2017 if you refer a friend to Business Initiatives and they take up one of our services we will send you a $100 Coles Myer gift card! This offer applies to ALL our services so, if you know of someone who needs accounting, financial planning, insurance or a loan we would…
Read More2017 SA State Budget Update
The 2017-18 South Australian State Budget was passed down on June 22, 2017 which included the following Budget Measures Bill 2017: Job Accelerator Grants From 1 July 2016, payments will be increased by up to $5,000 for businesses that hire apprentices or trainees and will be backdated to 2016. Off-the-plan stamp duty From 22 June 2017, the…
Read MoreRBA – At its meeting today, 1 Sep 2015
RBA – At its meeting today, 1 Sep 2015, the Board decided to leave the cash rate unchanged at 2.0 per cent.
Read MoreThe ATO has sent a stern warning to taxpayers
The Australian Taxation Office has sent a stern warning to Australian taxpayers, announcing they will be looking closely at those who are falsely claiming work-related expenses and incorrect rental property deductions. The Tax Institute’s president Stephen Healey has warned taxpayers to be careful of “pushing the boundaries” when claiming expenses come tax time. “The increasing…
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