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2021-2022 Federal Budget Report

Treasurer Josh Frydenberg handed down the 2021-22 Federal Budget on 11 May 2021, heralding the post-pandemic economic recovery.   A key focus of the Budget is economic recovery and delivering more jobs to Australians. It is estimated that this Budget will help to create more than 250,000 more jobs by the end of 2022-23.

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2021-2022 Federal Budget Summary

Need to know the key takeaways from tonights Budget? We've put together a summary of all the major budget announcements.

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Moore Australia welcomes Right-of-Use lease asset inclusion in calculation of Net Tangible Assets

Moore Australia welcomes the changes implemented by ASIC on 30 April, to counter the confusion caused by AASB 16. The introduction of AASB 16 resulted in the recognition of right-of-use assets (ROU) and lease liabilities.  The issue, which arose for Australian Financial Services (AFS) licensees, was whether ROU assets would be included in the calculation of their net tangible assets (NTA).

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White Paper: Fighting Zoom Fatigue

Over the past year we have all become intimately familiar with digital conferencing, and ‘to Zoom’ has become a comfortable verb. But as we have discovered the opportunities these new platforms offer, many people are still coming to grips with how to host meetings and conferences effectively and most are drier than my husband’s stir fry. Zoom fatigue is a thing. In order for your webinar to hit the right note it is important to plan well. This article explains some of points Moore Australia has learnt over the past year.   

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Australia reminded to claim COVID 'Working from home' tax deductions

Moore Australia today reminds individuals in Australia to keep a diligent log of the hours they worked from home during the recent COVID-19 lockdown.  This will help them claim their allowable tax deductions when it becomes time to submit their tax return.   

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Moore Australia issues guide for foreign investors to Australia

Moore Australia, Australia’s most respected and connected professional services firm, has today issued a guide to support foreign investors looking to do business in Australia.

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Covid-19 and the implications on Fringe benefits Tax

The COVID-19 Pandemic continues to have a significant impact on many businesses around the World. In Australia, the unprecedented crisis is forcing employers to reconsider the benefits provided to staff and the resulting Fringe Benefits Tax (FBT) implications.

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Peregrine Gold debuts on the ASX

Moore Australia congratulates Peregrine Gold Limited, for listing on the ASX earlier today.   “A huge congratulations to Peregrine Gold for making its debut on the ASX – an excellent milestone and pleasing result, following an oversubscribed Initial Public Offering,” says Moore Australia (WA) Managing Partner, David Tomasi.   “It was great to see Peregrine Gold Limited close at $0.245 - comfortably above its IPO price of $0.20,” says Moore Australia (WA) Corporate Finance Director, Peter Gray.

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Moore Australia client debuts on the ASX with $10m IPO

Moore Australia congratulates client Kincora Copper, for its successful listing on the Australian Stock Exchange (ASX) today.“We are delighted to see Kincora Copper, which is already listed on Canada’s TSX Venture Exchange, dual list on ASX this morning with a $10 million Initial Public Offering (IPO),” says Moore Australia (WA) Managing Partner, David Tomasi.  

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Start-ups - where do I start?

Every successful business begins with a simple thought, an inventive idea or identifying a niche in the market which grows into a viable and commercial operation. For those looking to start their own business, it can seem a daunting task with a seemingly endless web of information available. However, seeking appropriate professional advice and assistance early on will simplify the process and allow you to focus on turning your idea into a reality. Two critical issues to consider during the early stages when launching your start-up business will be what entity or structure the business will operate, and how to fund the business through each stage of its lifecycle. These two considerations will form part of your business plan and the pitch to potential investors.  

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2021 Fringe Benefits Tax Update

Whilst some aspects of life transition to a new “COVID-normal”, the Australian Taxation Office (ATO) continues to highlight its understanding of how COVID-19 is impacting business, and communicate some of the changes and administrative concessions relevant to employers for the Fringe Benefits Tax (FBT) year ending 31 March 2021 and beyond.  

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Property and Taxes - interest deduction is not always obvious

Interest paid is usually the largest tax deduction against rental property income, and in a lot of cases creates an overall loss, which may lead to an overall reduction in income tax payable. Taking out a loan to buy an investment property and claiming the interest charged as a tax deduction seems to be a simple proposition, however, as with anything in relation to tax, there are some complications. It is crucial to be aware of a few rules, especially when the expectation of tax deduction creating tax savings is one of the main deciding factors in purchasing an investment property.