Here, our financial experts take a close look at what’s happening in the world of finance.
We uncomplicate breaking announcements from the Reserve Bank of Australia (RBA), the Australian Taxation Office (ATO), the Australian Securities and Investments Commission (ASIC) and the Federal and State Governments so you can understand how those changes will impact you, your family or your business.
If you’re wanting to stay up-to-date on topics such as interest rates, tax planning, superannuation, the Federal Budget, incentives and schemes, HELP debt, deductions, concessions, depreciation, investment properties and much more, this is where you’ll find the answers.
Knight is with you every step of the way as you strive for financial success. If you’d like some additional information regarding any financial news, please reach out for a consultation to plan your next step.
Level 2 COVID-19 Business Assistance Package
Level 2 COVID-19 Business Assistance Package – Western Australia A further package of reliefs were announced by the WA Government last week, including: Small Business Hardship Grants Program Payroll Tax Relief for Large Hospitality Businesses. This is in addition to the Level 1 Covid-19 Business Assistance Package, which was announced in late February 2022. Small Business Hardship Grants Program Eligibility Requirements Businesses must satisfy the following: Have a valid and active Australian Business Number (ABN); Have an Australia-wide
International Women’s Day 2022
International Women’s Day 2022 Over 30% of Australian businesses are owned by women, with Australia featuring in the top 10 countries in the world for female entrepreneurship. We are here to support women in business and want to see that number grow. To celebrate and support women in business, we are offering a business health check and 45-minute consultation free of charge with our Director Heather Moore. Who is Heather Moore? Heather is a Director at Knight and works with
Swan Valley Sports Club Grant
Swan Valley Sports Club Grants Swan Valley Sports Club are this week celebrating a significant achievement for the club, as they successfully secured two grants from the Community Sporting and Recreation Facilities Fund. The first of the grants will contribute to the installation of new floodlights at the facility, whilst the second grant will fund the refurbishment of the change room facilities to encourage participation from female and junior athletes. Knight Director, Sandro Di Lollo, is the chairman of
Level 1 COVID-19 Business Assistance Package
Level 1 COVID-19 Business Assistance Package – March 9th 2022 What is it? A new COVID-19 Business Assistance Package has been announced for Western Australian businesses adversely affected by increasing COVID-19 cases in the community and implementation of Level 1 public health and social measures. The package includes eight tailored programs, which will be administered by a range of State Government agencies. The grants are in addition to the $77 million Safe Transition Industry Support Package announced on 10th
MyGovID – You will need to set one up
What is it? MyGovID is a combined Federal and State government digital proof of identity system. It allows you to log into several Federal and State Government systems and portals without having to provide identification documents or login details. You enter your email address the app will provide you with a code to authenticate you into the government website/system. Why do I need one? The list of government services using the identity verification system is rapidly growing. We started
Learn your Director ID requirements
As part of recent amendments introduced by the Treasury Laws Amendment (Registries Modernisation and Other Measures) Act 2020 (Cth) in June, all persons holding the role of a company director will soon be required to be identified by Director Identification Number (Director ID). Directors need to take action and register for a Director ID to meet their obligations – read the steps below to find out how. Registering for a Director ID If you hold a position as a
Subdividing the land your home is on
We should all know that you don’t pay tax when you sell the property you lived in, which is called your “main residence” by the ATO. If you are going to do the subdividing, there are 2 main options you have: Split the land up and sell off the new block Demolish the house, build one or two new ones, live in one, sell the other. If you subdivide a block of land, each resulting block is registered with a
Big Changes Coming to Income Protection Cover
We spoke about major changes to Income Protection last year in April. The Australian Prudential Regulation Authority (APRA) who regulates life insurance companies is making further changes that will take effect from the 1st of October this year. What is Income Protection Insurance? Provides an ongoing income in the event you are sick or injured and unable to work for an extended period. Extremely important as it allows you to continue paying bills, the mortgage and put food on the
ATO focus areas 2021
Every year the ATO advises taxpayers of the areas that will be a focus for particular attention in the tax return season. For 2021 the top items on the list are: Cryptocurrency gains Work-related expenses Cryptocurrency gains The ATO is concerned that many taxpayers believe their cryptocurrency gains are tax-free or only taxable when the holdings are cashed back into Australian dollars. Last year, the ATO directly contacted around 100,000 taxpayers who had traded in cryptocurrency and prompted 140,000 taxpayers
