A boost for small businesses for technology and training
The technology investment boost and the skills and training boost for small businesses were both legislated on Friday 23 June 2023. These boosts allow eligible businesses to claim a ‘bonus’ tax deduction equal to 20 per cent of qualifying expenditure. Find out more...
Proud to be a Great Place to Work – officially!
We have some exciting news to share! We’re proud to have recently earned Great Place to Work® Certification™. We regularly hear from our team that our people and culture make O’Connells OBM a great place to work, and receiving this certification recognises the...
Business FBT Toolkit
Fringe Benefits Tax is an area of increased ATO audit activity, not to mention it’s notoriously complex. Not getting it right can be costly so we’ve put together a number of resources to help you finalise your accounts for this current FBT year, and reset...
Fringe Benefits Tax Exempt Benefits
You’re probably aware that Fringe Benefits Tax (FBT) is a tax that employers pay on certain benefits provided to their employees. However, there are certain benefits that are exempt from FBT, known as FBT exempt benefits. These benefits can provide a cost-effective...
Working from home? Changes to claiming Work From Home (WFH) deductions effective 1 March 2023.
In recent years, there have been three ways you can claim deductions for expenses incurred while working from home – The Actual Method: You claim the actual amount of expenses by keeping records and written evidence to determine the work-related proportion of actual...
Personal Services Income – what is it and how could it impact your business?
If you run your professional affairs through a company, trust, or partnership and more than 50% of your income comes from your personal skills or efforts, then you are earning Personal Services Income (PSI). This impacts the types of deductions you can claim, and the...Business Advisory Senior Accountant / Client Manager
If you are looking for a new challenge, read on! We are on the lookout for not one, but two motivated Senior Advisers / Client Managers to join our growing, progressive and impactful team of change makers. O’Connells OBM is looking for someone to help us do what we do...
Have you received your PAYG instalment notice?
As the Tax Office continues to navigate the transition from paper, to digital, and back to paper communication, it appears that some clients are not receiving their PAYG instalment notices in the mail (or perhaps via email!) as expected. As such, if you haven’t...
Director Identification Numbers are now required
You might recall that earlier this year we shared an update about the new Director Identification Number regime. That regime is now in effect (from 1 November 2021). Existing and new company directors will now be required to apply and maintain their own personal...
Introducing our new digital signing platform
If you’re an existing client of ours, you’d know that we’ve been utilising digital signing for several years. One of our highest priorities is sharing electronic documentation for signature as securely as possible – which is why we have decided to...