Small business grant
16 December 2015
Employers who increase their staff numbers in New South Wales may now be eligible for the Small Business Grant from the New South Wales Office of State Revenue (OSR).
The Small Business Grant is designed to encourage the nearly 650,000 small businesses in New South Wales that do not pay payroll tax to hire new employees and expand their business.
Youth Allowance changes to make tertiary education more accessible for regional students
14 December 2015
For decades farming families have experienced unfairness in having their farm counted as an asset in their assessment for Youth Allowance. However, from 1 January 2016 the Family Assets Test and the Family Actual Means Test will be removed from the Youth Allowance Personal Test.
An income test will still apply, but all dependent children will be taken into consideration in that assessment, which the Government says will "soften reductions in Youth Allowance" as family income increases.
Senior Accountant Mel Dean wins Employee of the Year award
11 December 2015
The Directors of Boyce Chartered Accountants are proud to announce Mel Dean as the winner of the firm’s prestigious “Tony Quirk Employee of the Year” award for 2015.
The employee award was initiated by the Boyce directors in 2008 to honour fellow director and friend, the late Tony Quirk. Tony joined Boyce in 1991 and became the youngest-ever director appointed in the firm. Tony was well on the way to forging an outstanding Chartered Accounting career before he unexpectedly passed away at 34 years of age.
Cryptolocker, ransomware and why your business should be concerned
10 December 2015
Ransomware is a type of malware (malicious software) that aims to forcibly extract money from you in return for their services usually by removing viruses. Ransomware is an increasing threat to your security on the internet. Original ransomware programs would tell you that you had a virus and that their program would remove it for you - for a fee of course! In reality, you didn’t have the virus, but you did have an infection of ransomware causing the messages.
More recently, a new threat called Cryptolocker acts by being downloaded onto your computer via clicking on insecure links, websites and emails causing it to encrypt (lock) all data on your computer, including any attached drives such as network drives, backup drives, cameras and USB thumb drives.
Changes to work related car expenses
7 December 2015
In the 2015 – 16 Budget, the Government announced changes in relation to the way in which tax deductions for the necessary use of a motor vehicle will be calculated.
Previously, there have been four methods for calculating work related motor vehicle expenses:
- Cents per kilometre;
- Logbook method;
- The 12 per cent of original value method; and
- One-third of actual expenses incurred.