The Australian Government has announced the introduction of a new mandatory Director Identification Number (DIN/director ID) as part of the Modernising Business Registry (MBR) Program.

The Victorian Government has announced new cash grants for individuals and businesses impacted by the lockdown declared on 15 July 2021. For full details of the support and the eligibility criteria please READ MORE

If you can’t work because you or someone in your household is impacted by COVID-19, there is support available, but it comes with fairly strict eligibility criteria.

In this months update read more about work from home expenses being under scrutiny & the perils of browsing Facebook. Also see what changes you can expect to see July 1 and other tax news updates

The 2021-22 Federal Budget is a balancing act between a better than anticipated deficit ($106 bn), an impending election, and the need to invest in the long term.

A recent Family Business Australia survey revealed that whilst 81% of business owners intend to retire in the next 10 years, less than one third of these businesses have any sort of succession plan in place.
Evidence suggests that the succession of many family funeral businesses could be chaotic, messy, and more often than not, litigious.

All the information you need on JobKeeper payments not included in annual turnover, GST on reimbursement by tenant of landlord expenses, Instant asset write off on primary production assets, Deductions for vacant land and GST on new residential premises.

The first allotment of JobKeeper ended on 27 September 2020. We look at the issues for those seeking to qualify for the second allotment of JobKeeper and for those no longer eligible.

The first allotment of JobKeeper ends on 27 September 2020. Those needing further support will need to reassess their eligibility and prove an actual decline in turnover. 

JobKeeper 2.0 legislation was recently passed by parliament. The new bill included changes which will allow qualifying employers and legacy employers to continue to access temporary Fair Work Act provisions for a further six months...

The NSW Government has recently announced that small businesses will benefit from a new $45 million grant program designed to cushion the economic impacts of the southern border closure. Does your business qualify?

All the information you need on the Super Guarantee Amnesty ending, lower company tax rates, changes to genuine redundancy payments, claiming tax deductions for business travel expenses, reasonable travel allowances, FBT taxi travel expenses exemptions and claiming a tax deduction for personal super contributions. 

Effective from the fortnight beginning 3rd August 2020, the JobKeeper rules have recently been extended to allow additional employees to qualify.

To support Victorian businesses impacted by renewed and increased restrictions, one-off grants will be made available to eligible businesses under the Business Support Fund – Expansion program. Does your Business qualify? 

The Government has announced an extension of the JobKeeper program to 28 March 2021 but with tighter access and reduced rates. We’ve summarised the key details for employers.

The Government have announced a mandatory Code of Conduct which outlines a set of principles commercial landlords and tenants must operate within when negotiating relief for tenants experiencing financial stress as a result of the COVID-19 pandemic.

MGR would like to provide you with an update about the plans we have in place to ensure that we continue to maintain our high level of service to you during the COVID-19 pandemic. 

Do you currently have or need Income Protection? If you are looking to apply for income protection insurance now is a good time to do so.
Significant changes are coming to the life insurance market in Australia that may impact you.

Christmas time can be a make or break period for some types of businesses, retailers, accommodation, wholesalers & the information and communication sectors for example experience their peak sales at this time. For other industries this can be an especially tough time of the year with many business owners experiencing low demand, staff absences and supply disruptions...

Have you fallen behind on your Superannation Guarantee obligations? Legislation enabling the Superannuation Guarantee amnesty that was proposed back in May 2018 is before Parliament right now and if enacted, will apply from the original amnesty announcement ...

With just five weeks until Christmas, we bet you’re already thinking about how you and your team are going to celebrate the silly season. As a business owner, you might want to thank your employees and clients for a great 12 months by throwing a Christmas bash or buying a few well-thought gifts. But whilst playing Santa is a great idea for boosting morale, it can have hidden tax implications. Don’t get caught with an unforeseen tax bill this Christmas; follow our simple guide to Christmas parties, gifts and Australian tax law.

Businesses fail for a multitude of reasons. Lack of sales and cash flow, inadequate capital and failing to adapt to change can all contribute to the collapse of a business. Let's explore some of the major reasons why business start-ups fail.

Consumer behaviour has changed and your website is now your marketing hub. In this article we look at three key website issues that confront most business owners - not enough website traffic, poor conversion of leads to sales and a lack of strategy…

We know we can’t please all of the people all of the time but with 72% of consumers reporting trusting online reviews as much as personal recommendations it can feel really damaging to receive a poor online review. Despite your instinct to try and get it deleted there are other courses of action open to you...

With the end of financial year now behind us let’s look at a couple of things to address to tidy up last financial year and plan for 2019/20.  Namely - Single Touch Payroll and the Immediate Asset Write-Off Changes.  

The Tax Office has introduced a Whistle Blower Hotline encouraging people to 'dob in' business owners they suspect are operating in the black economy. The Hot Line went live on the 1st July 2019.   

Creating wealth through an investment property is a well-established practice in Australia. Of the approximate 9 million residential dwellings in this country, almost 25% are rental properties. Read on for our renovation tax tips  

Don’t miss our latest newsletter which is chockablock full of articles on:-

Tax Planning & Tax Return Checklists
The Federal Budget Round Up
Buyer Beware! – Before You Buy a Business
Thinking of Renovating Your Investment Property?
The Importance of Local Search for Small Business Owners
ATO to visit 1,800 Businesses in a Black Economy Blitz

And don’t forget, Single Touch Payroll becomes mandatory for all Australian employers from today – watch our short webinar in a previous blog to bring you up to speed….

Welcome to our Webinar on Single Touch Payroll. In this webinar we outline what every employer needs to know about the introduction of Single Touch Payroll in Australia.

As the end of another financial year approaches we have created a Tax Planning Guide for 2019 which highlights some end of year tax planning opportunities to help you minimise tax and take action on any items required pre June 30.

One of the primary reasons behind SMSF's popularity is the fact that members have greater control over their range of investments, the ongoing management fees and ultimately their tax liability.

Starting a Business is an exciting time, but there are so many things to consider it's hard to know where to start. In this Free 30 minute Webinar we examine the processes and pitfalls when Starting Your Own Business....

In ‘the biggest compliance issue since GST’ small employers (less than 20 employees) need to get on board with the ATO’s Single Touch Payroll system from 1st July 2019 to report employee’s superannuation and tax withholding on a pay by pay basis. Find out what you need to do now….

Bookkeeping may not be everybody’s idea of fun, but it is an essential and unavoidable task in the success of your business. We look at 6 common bookkeeping mistakes and how to avoid them….

Happy New Year!
The staff at MGR Accountants wish you every success for 2019 and we'll be full throttle from Monday 14th January.
In the meantime, wherever the road takes you financially this year we’ll be there to support you. Dream big.  And if those dreams include Starting or Buying a Business this year, we’ll help you every step of the way....

Running your own business can be rewarding. You get to follow your passion, choose who you work with and potentially make more money. It sounds irresistible with the flexibility, independence and freedom, however, there is a catch. There are risks but there are also strategies to help reduce those risks…

Ho, Ho, Ho! It’s coming up to the Holiday Season and you might be thinking of throwing an office break up party or providing your staff with Christmas presents. Without being The Grinch, there are Fringe Benefits Tax implications for both of these scenarios that you need to be aware of. 

With Christmas and the holiday season fast approaching, businesses may find their cash flow suffering particularly if current invoices don't get paid until February next year. This can be catastrophic for seasonal businesses so let’s look at some ways to help improve your cash flow.

The Tax Office has deployed what they refer to as "mobile strike teams" to uncover business owners attempting to avoid tax, especially to target the cash economy. With plans to visit some 10,000 small businesses in the 2019 financial year nationwide, this follows on from their earlier successful blitz of cash-centric suburbs around Australia. To this end we outline some of the common mistakes the ATO has recently observed.   

The rate for work-related car expenses has increased for the income year starting 1 July 2018. It is now 68 cents per kilometre.

This applies if you have chosen to use the cents per kilometre method for calculating work-related car expenses and will remain in place until the Commissioner decides it should be varied.

If you are paying your employees a car allowance in excess of 68 cents per kilometre, you need to withhold tax on the amount you pay over 68 cents.

One of the most challenging aspects of starting a new business is sourcing finance. Once you know how much funding you require it’s time to explore your finance options and there are 6 sources of funding available.  

Facebook remains every marketer's dream, with access to around 15 million users Australia wide. Advertising on Facebook may provide your business with the opportunity to expand your customer base without costing an arm and a leg.  

Aretha Franklin, the Queen of Soul, recently passed intestate (no Will) leaving a purported estate worth US$80 million. A number of claims from interested parties have already been lodged against the estate, which highlights the importance of having a Will. Let’s look at the administrative taxation process involved when you’re left to deal with a loved one’s estate.

The ATO has indicated they are casting a wider net when it comes to claims for home office expenses, work-related expenses and ride-sharing income. Find out what’s under the microscope this financial year.  

As a business owner and employer there are a number of legislative changes that came into effect on July 1, 2018 which you need to be aware of including Single Touch Payroll, the continuation of the Superannuation Guarantee Charge Amnesty, increased Minimum Wage Rates as well as changes to Penalty Rates and the Unfair Dismissal Threshold.  

It’s exciting when you have that light bulb moment and you’re hit with an idea for your new business. Before you can open your doors, there are numerous issues to consider and you must navigate your way through a maze of rules, registrations and regulations. One of those importance issues is making sure you carry out the right business registrations.    

Profit is the way we keep score in business. It is achieved through making the right management decisions and it impacts on your business valuation. You simply can't afford to leave any profit on the table.  

The Federal Treasurer, Scott Morrison, handed down his third Budget on the evening of Tuesday May 8th. We provide a round-up of the changes that may impact you or your business.     

The end of another financial year is fast approaching. Our 2018 Tax Planning Guide for the end of  the 2017/18 financial year highlights some end of year tax planning opportunities which you may wish to consider before June 30, 2018. 

It’s exciting when you have that light bulb moment and you’re hit with an idea for your new business. Before you can open your doors, there are numerous issues to consider and you must navigate your way through a maze of rules, registrations and regulations. One of those issues is the right business structure.   

Estate and succession planning these days needs to go a little bit further than wills establishing testamentary trusts (that is trusts established on death under a will).  The reason for this is that many people’s affairs are more complicated as a result of controlling wealth rather than owning it, as well as having personal circumstances that do not reflect the traditional nuclear family.

All employers need to perform a headcount as at 1 April 2018 to determine when they need to implement the latest ATO digital initiative - Single Touch Payroll. Employers with 20 or more employees will need to start reporting through Single Touch Payroll from 1 July 2018. Let’s look at what employers need to be doing right NOW.   

Can’t I use my superannuation? This is a very common question we get asked and in this post we look at what the government restrictions are on accessing your super and the impact of preservation age.  

According to a recent Telstra survey, only 50% of Australian small businesses have a website. Surely this can't be true! With the same report finding that 62% of customers will stop considering a small business if they can't find information about it online - there can be no doubt that having a website is a fundamental weapon in your marketing arsenal.   

The ATO recently conducted a blitz in specific suburbs around the country where it identified a suburb as having 'high cash economy risk behaviours'. Due to its success, the Tax Office will maintain its audit focus on cash-based businesses. Could yours be next?   

Franchising is big business in this country and while buying into a franchise can often be promoted as a ‘gold mine’, the reality is, franchises can also fail. Let’s examine some of the most important things you need in place when buying a franchise. 

Cash is King, make no mistake, but managing cash flow remains a constant challenge for today's small business owners. In this article we examine the differences between cash flow and profit and the importance of understanding your numbers to maintain a positive cash flow.   

Cash flow is the life blood of any business. In fact, it can be the difference between success and failure with a lot of business owners walking a tightrope. Let’s briefly examine some of the most common causes of a cash flow crisis.

There has been a fundamental shift in the way consumers make their purchasing decisions. The availability of free, high-quality information online has changed the way consumers buy and Inbound marketing has replaced traditional Outbound marketing methods.

As a business owner it is important to separate your personal and business risk. It is also important to optimise your tax position. The starting point for these objectives is to ensure your business is appropriately structured.

MGR Information Technology make a generous donation to the Bendigo RSL in support of the Bendigo Soldiers Memorial Institute revitalisation project.

We are pleased to provide you with a summary of some of the recent tax changes that may impact you and your business.

Inbound Marketing is designed to earn the attention of potential customers and draw them to your business. But is it right for your business and can it deliver more customers for less investment of your time and money?

As a savvy business owner, it’s important to use email marketing. The benefits of Email Marketing almost sound too good to be true – a 4300% ROI for starters! This article will guide you through the first step – how to build your email marketing subscriber list.

Video is no longer an option for businesses looking to grow, it’s essential. These are the video marketing trends that you need to be aware of in 2017 to stay ahead of your competitors.

Over the past five years, claims for uniform and laundry tax deductions have increased. The ATO had sat up and take notice. The ATO AC, Kath Anderson has stated that too many taxpayers’ beliefs around how to claim clothing deductions are wrong. Here, we provide helpful advice and tactics to ensure you're getting your tax deductions right.

You might be surprised to know the range of assets you can actually finance. While cars, trucks and equipment are items commonly financed, it is possible to finance boats, buses, planes, computers, dental chairs and office fit outs.

Australians claimed about $23 billion of work-related expense deductions in 2015/16, however, the ATO believe a significant proportion of this amount is the result of over claiming of expenses.
As a result, the ATO have stated that they will be monitoring higher than expected claims. These are the areas you should brush up on to keep your work related expenses clear.

Your website looks good, but it’s not getting visitors, generating leads and converting to sales.
The primary difference is that the brochure style websites are all about the company, while lead generation websites are all about the customer.
Let’s examine the seven must-have online marketing tools that can help you turn your old website into a lead generation machine.

Airbnb is big and getting bigger. We answer the most common questions on the taxation implications, deductions and declarations around renting out all or part of your property on this very popular service.

When building a new website or investing in a website makeover or upgrade, it’s important to understand that not all website expenses are immediately fully tax deductible.  

Uber is looking for more drivers and Airbnb is seeking more hosts but what are the implications of becoming part of this new ‘sharing' economy’?

If you are employing staff in Australia for the first time, this fact sheet will help you understand your tax and superannuation obligations.

Starting a business can be a maze of research, registrations and red tape. No amount of passion can guarantee your business success but the proverb, ‘failing to plan is planning to fail’ serves as both great advice and a warning for new entrepreneurs.

Your website should effectively be your home base on the internet but how does it actually work and what is hosting and domain names?

Merry Christmas from all of the staff here at MGR Advisory Group. We wish you and your family a safe and happy festive season full of fun, rest and rejuvenation.  Please note that this office will close at 3pm on Friday 23 December 2016 and will re-open at 9am on Wednesday 11 January 2017

While many organisations depend on key people, too few understand the level of risk that the business faces by relying exclusively on certain individuals to be available to fulfil important roles.

Creating wealth through purchasing a negatively geared investment property is a well established practice in this country.  We have identified some common areas where property investors often trip up including claiming interest on loans.

The ATO Tax Rates are changing, which means you need to work out the new amount to withhold from payments made to employees or payees from the 1st October 2016.

Starting a business can be a mine field and the risks are high which explains why so many budding entrepreneurs look to buy an existing business or franchise operation rather than start from ‘scratch’.

As any entrepreneur will tell you, starting or buying a business involves research, risk, passion and planning. To be successful you need to make the right opening moves and over the years we have helped hundreds of clients navigate their way through the business start-up maze.  

With the new financial year and tax time now upon us, we are pleased to offer apprentices and students the special price of $66 for preparation and lodgement of your 2016 Income Tax Return. We can provide you with a fast and reliable service and our well trained advisers can help you achieve best tax outcomes.

More businesses are beginning to utilise the power of mobile technologies to increase the efficiency of their staff and the business as a whole. But what are the implications for the organisations overall technology platform?

The successful businesses of the future are the ones who are continuously investing in mutually beneficial relationships today. However, how do you manage the workload required to maintain and keep track of these relationships and convert them into sales?

When many businesses first start out the technology that is put in place can often be minimal. Does the technology you have in place reflect the proper status of your business or undermine it.

That ‘light bulb’ moment and idea for your new business is exciting but it's only the beginning of the journey for an entrepreneur. The moment of truth is identifying all the costs you will incur before you open the business doors. Will you need to source loans and how much?

When you're investigating buying a business it's important to do a detailed review of the business's operations, finances, reputation and industry as part of what is called the ‘due diligence’ process.

In the fourth and final blog from our recent ‘Your Business Improvement Series’ seminar, we tie together the lessons from our previous blogs in this series to discuss how referral machine businesses win new business through their key relationships naturally without pressure or coercion.

In the third blog from our recent ‘Your Business Improvement Series’ seminar, we discuss how referral machine businesses nurture and invest in their key relationships so that they evolve under their own right rather than through pressure and coercion.

In the second blog from our recent 'Your Business Improvement Series' seminar, we further examine how to turn your business into a referral machine. In particular we discuss building instant rapport.

MGR Accountants held the first seminar in the 'Your Business Improvement Series' last week. Over the next few weeks we will share some of the learnings from the seminar via a series of blog posts, starting with this first post - Turn Your Business into a Referral Machine.

The Government is currently considering the implementation of the “Small Business Restructure Rollover”.  This new income tax rollover, it if becomes law, will present many new opportunities for businesses to change their operating structure without adverse tax implications.

As accountants, the number one thing our business clients want is advice to help them grow their business. In the digital age we believe the secret to growth is marketing and it could be the difference between boom and gloom for any business.

Every entrepreneur wants to grow their business but there's no simple formula that guarantees success. In this series of posts we are up to the third way to grow your business, how to increase the value of each sale.

Clearly, everyone wants to grow their business. Unfortunately there is no magic potion or silver bullet but we do know there are only four ways to grow a business. In this blog we examine the second method, how to increase the number of times a customer comes back and buys from you.

Last night MGR Accountants sponsored BeStella's first event "Courage or Confidence", with a very motivational guest speaker Fabian Dattner.
We would like to say a big thank you to everyone at BeStella for a wonderful evening and the opportunity to be involved.

Let's be honest, everyone wants to grow their business but unfortunately there is no set formula or recipe for success. While every business and industry have their own idiosyncrasies there are fundamentally only four ways to grow a business. In a series of blogs we will examine the four ways to grow a business and we will start by looking at how to increase your number of customers. Of course, you don't want any customer, you want your ideal type of customer ...

The Federal Government has brought forward the start date for new farm tax breaks, effective immediately.
Farmers would now be able to deduct the full cost of water facilities and fencing in the year in which they were purchased.


Starting any business necessitates research, risk, passion and planning. However, a great idea, loads of talent or enthusiasm is not enough to guarantee business success in the digital age.