Insights
Welcome to the Saab Partners blog, your one-stop source for the latest insights, trends, and expertise in the world of accounting and financial services. Join us as we navigate the ever-changing landscape of finance, empowering businesses and individuals through strategic partnerships and unparalleled expertise.
The 120% Technology and Skills ‘Boost’ Deduction
The 120% skills and training, and technology costs deduction for small and medium business have passed Parliament. We’ll show you how to take maximise your deductions. Almost a year after the 2022-23 Federal Budget announcement, the 120% tax deduction for...
2023-24 Budget Guide ‘Ace in the Hole’
Disclaimer The information contained herein is provided on the understanding that it neither represents nor is intended to be advice or that the authors or distributor is engaged in rendering legal or professional advice. Whilst every care has been taken in its...
Access to home guarantee scheme expanded
Access to home guarantee scheme expanded to friends and siblings From 1 July 2023, access to the Government’s Home Guarantee Scheme will be expanded to joint applications from “friends, siblings, and other family members” and to those who have not owned a...
Question of the month: Company loan to pay mortgage
A friend’s accountant suggested that they could reduce interest on non-deductible debt by using company cash to offset their personal mortgage, then transferring the cash back by 30 June. Is this an acceptable strategy?
ATO Rental Property Blitz
The Australian Taxation Office (ATO) has launched a full-on assault on rental property owners who incorrectly report income and expenses. The ATO’s assessment, based on previous data matching programs, is that there is a tax gap of around $1 billion from incorrect...
$20k Small Business Energy Incentive
In a pre-Budget announcement, the Government has committed to a Small Business Energy Incentive Scheme that offers a bonus tax deduction of up to $20,000.
Navigating STP Phase 2: Are You Compliant with ATO Changes?
The Australian Taxation Office (ATO) made Single Touch Payroll Phase 2 mandatory at the beginning of last year. As of January 2022, businesses of all sizes must comply with STP Phase 2 when reporting their payroll data.
Best Tech for Business Advisers to Streamline Reporting
As Australian businesses pivot towards distributed digital teams, the key to making it work lies in data-driven decisions. Although useful, the range of technology and skills available makes choosing the right ones for the job can be difficult. Technology drives...
Successful Businesses Checklist: 5 Key Attributes to Adopt
With over 2.5 million businesses operating in Australia, success is never guaranteed. Something new business owners often ask is: what’s so special about those that do make it past the infamous first 2 years? Although every...