The latest accountancy news
May 2021
The second COVID-19 tax Bill passes through all stages
[ad_1] <p>The <a href="/bills/52-240">COVID-19 Response (Taxation and Other Regulatory Urgent Measures) Bill</a> introduced under urgency today has now passed through all stages. The resulting Act* will be available once it receives Royal assent.</p> <p>* The [...]
How to get the most out of conversations with your advisor
[ad_1] This is a guest post by Cassandra Scott, Director of Laurus Bookkeeping and Board Director of the Australian Bookkeepers Association – a Xero Platinum Partner and member of XPAC 2021. When was the last [...]
Changes to use of money interest rates
[ad_1] <p>The use of money interest rates are reviewed regularly to ensure they are in line with market interest rates. The interest rates on underpayments and overpayments of taxes and duties have now changed to:</p> [...]
Australia’s Federal Budget focuses on securing the recovery
[ad_1] The central theme of this Budget is to secure Australia’s economic rebuild. There are a number of initiatives that should support small businesses through recovery. But for those small businesses still constrained by closed [...]
SOP to the COVID-19 (Further Management Measures) Legislation Bill
[ad_1] <p>Supplementary Order Paper No 488 to the <a href="http://www.legislation.govt.nz/bill/government/2020/0244/latest/versions.aspx">COVID-19 (Further Management Measures) Legislation Bill</a> was released today by the Leader of the House, the Hon Chris Hipkins. The SOP includes enabling amendments to ensure [...]
Aussie advisors: Get EOFY ready with FY21’s key product releases
[ad_1] Following the arrival of the pandemic, the way we live and work has changed for good. And after what was undoubtedly their busiest year yet, Aussie advisors have been reminded just how crucial it [...]
In-work tax credit grace period
[ad_1] <p>The Government has announced a proposed change to the In-Work Tax Credit as part of the Covid-19 Response Recovery Fund.</p> <p>The proposal is to allow a family currently receiving the in-work tax credit to [...]
Securing your cloud business
[ad_1] In the past year we’ve all seen how important the cloud is for keeping people and businesses connected. Cybercriminals have noticed too, and they’re always looking for ways to steal the valuable data and [...]
Omnibus tax bill introduced
[ad_1] <p>The Taxation (Annual Rates for 2020–21, Feasibility Expenditure, and Remedial Matters) Bill was introduced into Parliament today by the Minister of Revenue, Hon Stuart Nash.</p> <p>For more information see the Minister of Revenue’s <a [...]
Supporting small business recovery with the launch of Xero’s Small Business Index
[ad_1] Today, in conjunction with Accenture, Xero launched a new Small Business Index providing a single composite figure that indicates how small businesses are faring across Australia, New Zealand and the UK. The index is [...]
Tax write-off threshold increased
[ad_1] <p>In response to the current economic downturn, the Government has legislated for a temporary increase to the write-off threshold for tax to pay, from $50 to $200. This applies for the 2019-2020 income tax [...]
Latest product news – May 2021
[ad_1] Our latest product releases allow you to send and receive e-invoices in Xero, view all your bank rules in the one place, and more. If you’re a Xero partner, don’t forget to register for [...]
Guidance on recent COVID-19 tax legislation is now available
[ad_1] <p>Guidance on recent COVID-19-related legislation <a href="https://www.taxtechnical.ird.govt.nz/new-legislation/act-articles/public-2020-no-8-and-no-10">is now available</a>. It covers the loss carry-back scheme, administrative flexibility for Inland Revenue, the Small Business Cashflow Scheme, and the tax treatment of payments to New Zealanders [...]
Supporting the local community on NZ’s first Small Business Day
[ad_1] On Friday 9 April the very first Small Business Day in Aotearoa was held to show support for our small business community after an incredibly tough financial year for them. This time last year, [...]
April 2021
New tax measures announced
[ad_1] <p>A Supplementary Order Paper to the Taxation (Annual Rates for 2020–21, Feasibility Expenditure, and Remedial Matters) Bill contains two measures proposed by the Government. These are:</p> <p>- Amendments to simplify the administration of unclaimed [...]
Vonto: Easy business insights
[ad_1] Xero’s app marketplace has over 800 apps to help small businesses and their advisors succeed. Each month we celebrate an app partner who stands out for helping small businesses thrive. Find out more about [...]
Application date for loan scheme extended
[ad_1] <p>The Government has announced that the application date for the Small Business Cashflow Scheme has been extended to 31 December 2020.</p> <p>See the Minister of Revenue’s <a href="https://www.beehive.govt.nz/release/extended-loan-scheme-keeps-business-afloat">media statement</a> for more information.</p> [ad_2] Source [...]
Boss Insights 2021: Sole traders find a sense of community in small town Tasmania
[ad_1] This article first featured in the Boss Insights 2021 report, Sole trader surge: small business in a post-COVID world. Despite the challenges that 2020 brought, our latest research shows Australia has yet again proven [...]
Repeal of child support incremental penalties proposed
[ad_1] <p>A Supplementary Order Paper (SOP) to the Child Support Amendment Bill was released today by the Hon Stuart Nash, Minister of Revenue. The proposed changes in the SOP would repeal child support incremental penalties [...]
Accountants sit at the heart of South Africa’s economic survival and recovery
[ad_1] Behind every resilient small business sits a hard-working accountant. Our latest research shows just how crucial the accounting industry has been over the last year – helping businesses to stay open, retain employees and [...]
Special report on tax amendments in COVID-19 legislation
[ad_1] <p>A <a href="/publications/2020/2020-sr-covid-19-no2">special report</a> on the tax amendments in the <a href="https://www.parliament.nz/en/pb/bills-and-laws/bills-proposed-laws/document/BILL_99779/covid-19-response-further-management-measures-legislation">COVID-19 Response (Further Management Measures) Legislation Act (No 2) 2020</a> is now available.</p> <p>The Act was enacted on 6 August 2020. Coverage of [...]