Thomas Davis Co August Client Alert 2021 MSI *|MC:SUBJECT|*

Despite the successes of the last financial year, we are one month into FY22 and had 3 states implementing lockdowns and accompanying support packages. If you think you are eligible for this assistance, get in touch and we can help. We hope you are all doing well - please reach out to us if you have any questions, or if there is anything we can do to help.

As a client of Thomas Davis & Co, you are able to receive updates from the MSI Australia, New Zealand and Fiji Alliance. Thomas Davis & Co is a part of this network of trusted professional services firms, expanding our capabilities across the whole globe. As a result, you receive the benefit of accessing this alliance.

Check out the latest content below from members of the MSI alliance, and some recaps of how we work together to help clients.

Thomas Davis & Co Update

New this month:
  • ATO Tax Time support: Covid-19 & Natural Disasters
  • Hardship Priority Processing of tax Returns
  • Workplace Giving Versus Salary Sacrifice Donations
  • Employers beware: Increase in Super Guarantee 
  • Covid-19 Lockdown Support: NSW, VIC, SA 
Read the full summary here

The 2021-22 Australian Federal Budget 

By Morrows. Australia is in an advantageous position globally, with COVID-19 under control and an economy that has rebounded more than expected largely due to massive stimulus. Our 2021-22 federal budget was recently delivered and continues to deliver large stimulus that can support you and your business. Some of the big-ticket items are included here however please contact an advisor before taking action.
Check out the blog here!

Income Splitting – New Rules from July 2021 

By MSI Taylor. A common tax reduction tactic is to utilise bracketed tax systems by splitting income between different taxpayers. The ATO is providing new guidance on this topic for individual professional practitioners (IPP). Contact your local accounting firm for more information.

Check out the blog here!

Oreon Client Story: Lukoumades and the Potato Project 

By Oreon Partners. Alex started out 4 years ago with a van selling traditional Greek donuts and has grown into a 50 person company, with early growth into an unrelated second business. He believes one of the most valuable things he's done along the way is to try new things and constantly put money back into his business. 

"It's been really good to see a young person step out of their career, look for an opportunity in the market, take a risk, and set up a completely unrelated business that's going so well." Says Oreon Partner Ben Reynolds.
Check out the blog here!
Some other recent blogs include:

Support Available from the Government for your Business 
Superannuation Guarantee Changes – What You Need to Know
Financial Support for Workers & Businesses in NSW & Victoria
Landmark case: Duffy v. Google Inc.