The Catalyst Group

29/03/2022

The Treasurer, Josh Frydenberg has delivered the 2022-23 Federal Budget. We've gone through the details to find out what it could mean for you:

For Business:

+ Businesses with a turnover of less than $50m will be able to deduct 120% of costs for staff training courses.

This means that for every $100 spent on external training courses, small businesses will be entitled to a tax deduction of $120. Some exclusions & limitations apply.

+ Business with a turnover of less than $50m will also be able to deduct 120% of technological expenses that support 'digital adoption'. This includes subscriptions to cloud based services, portable payment devices, cyber security, etc. Some exclusions & limitations apply.

+ $4.6m has been set aside for mental health support programs for small business owners

+ $700m additional funding to the ATO to extend the Tax Avoidance Taskforce for a further two years (to 30 June 2025)

For Individuals & Families

+ $250 one-off, tax free payment for approximately 6 million eligible Australians, including those receiving: Age Pension, Disability Support Pension, Carer Payment & Carer Allowance, Parenting Payment, Jobseeker, Youth Allowance, Austudy & Abstudy.

+An increase to the Low & Middle Income Tax Offset (LMITO) of $420.

Individuals with a taxable income between $37,001 & $126,000 can expect a total offset of between $675-$1,500. This is expected to be the final year of the LMITO.

+ A temporary cut to the fuel excise of 22c per litre from Midnight 29th March 2022.

This will reduce the cost of a tank of fuel by $10-$15. The cut to the fuel excise will expire on September 29. It may take up to a week for the cut in fuel excise to show up at the bowser.

+ A new Parental Leave pay to replace the existing two payments for new parents. A total of 20 weeks will be available, and can be shared by either parent. The new scheme is expected to start in March 2023.

+ The cost of a Covid test in order to attend work will be tax deductible from 1 July 2021.

Get in touch with us for more detail on any of the measures outlined in the budget.

07/03/2022

Bookkeeping is a major part of running a business, but many business owners struggle to keep on top of it.

It shouldn't be seen as a time-consuming nuisance, but rather a process that adds value to your business.

The Catalyst Group bookkeepers and virtual CFOs don't just 'balance your books'. Here's a few ways we add value to your business

- We give you a clear view of your finances 👓

- We help you recognise opportunities, so you're not leaving money on the table 💰

- We help you plan for tax, and give you strategies to minimise the amount you have to pay 📈

To find out how we can add value to your business, send us a message, or check out the link in our bio.

04/12/2021

Do you feel like you're working harder than ever before, but for the same reward?

Do you tell yourself that you just need to get through the next day, week, month, and then things will get better?

Let The Catalyst Group work with you to develop a strategy with a clear and actionable plan, to help you achieve your busuness goals and give you your life back.

23/10/2021

Effective financial management goes beyond bookkeeping.

If all your bookkeeper does is process paper receipts and pay your staff, you need to know, there's a much better way.

The Catalyst Group are experienced financial managers, not bookkeepers. Not only do we manage your day to day transactions, we provide professional insight into your business to help inform your decision making.

Contact us today, and see how we can support you and your business.

22/10/2021

The Catalyst Group aren't bookkeepers. We're experienced financial managers.

We don't just balance your books, we provide you with expert advice based on your financial performance to see improvement in your business.

Talk to us to find out why so many hospitality businesses are ditching the bookkeeper.

21/10/2021

Boom! We love working with our clients to help them to drive their business forward.

Get in touch to find out how we can partner with you!

19/10/2021

We love hearing stories like these from the venues we work with.

Get in touch today and find out how we can help you to punch your goals in the face!
🙏 for the kind words

19/10/2021

🤜 You know that first coffee early in the morning that you can't live without?

Well, we're like that caffeine hit, but for your business.

We give you exactly what you need to drive your business forward.

So you can punch your goals in the face!

Punch your goals in the face. You know that first coffee early in the morning that you can’t live without?Well, we’re like that caffeine hit, but for your business.We give you exactly what you need to drive your business forward.So you can punch your goals in the face. Why The Catalyst Group? Ho...