If you’re one of the many Australians financially impacted by COVID-19, who have deferred $218 billion worth of payments this year – fear not. Your credit score is unlikely to be affected by payment deferrals or mortgage holidays due to the current state of the world.
In response to the social distancing and sanitary requirements of COVID-19, it has become common for businesses to provide additional cleaning and courier services to customers. As a result, many businesses have taken on contractors to assist with the extra work.
It is not uncommon for businesses to provide loans to shareholders or associates of a company. However, business owners should know the conditions that their loan must satisfy under Division 7A, to avoid the amount being deemed a dividend.
Small businesses with low annual travel distances will benefit from the ATO’s new increased cents per kilometre rate for cars, from 68 cents to 72 cents. The new rate has been effective since 1 July 2020.
Investment funds can be broadly split into two categories - active and passive. And while both options play a part in an investment portfolio, it's important to understand how each works before allocating money to them.
Today, young people are often called the “the smashed avocado generation,” supposedly frittering away money on ‘luxury’ items rather than working hard to save for their first home or retirement nest egg.
However, despite their spendthrift reputation, most millennials ar...
The types of things you can claim on your tax return varies depending on your occupation. We can help you to double check what you can and can’t claim. Give our team at Evans Edwards Accountants | Auditors | Business Advisors a call to find out what you can claim, and...