New requirements for Directors from 5 April 2022

Are you planning to set up a new company and be the company director? Or are you planning to set up a new Self-Managed Super Fund where your company would be a trustee and you would be the director?

Do you know that legislation has passed in June 2020, whereby from 5 April 2022 onwards it is mandatory that all directors of a company to have a Director’s ID (Director identification number, or DIN) before you are allowed to be appointed as a director?

How to apply for Director’s ID?
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in Articles / Knowledge Base / News / Running A Business / Self Managed Super Funds / Starting a New Business  by Emily Yip

Business Budget Measures

The 2021-2022 Federal Budget has been announced on 11 May 2021, with a few welcoming measures for small businesses. Here are two main measures that would benefit your business once it becomes law.

Temporary full expensing extension

Businesses with an aggregated turnover of less than $5 billion will be able to continue to fully expense the cost of new depreciable assets and the cost of improvements to existing eligible assets in the first year of use.

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in Knowledge Base / News / Running A Business / Starting a New Business / Tax Advice and Planning  by Emily Yip