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Now that Australia is recovering from the ongoing economic impact of COVID-19, state governments are looking at ways to phase out land transfer tax, better known as stamp duty. Stamp duty is a large and inconsistent tax, totalling $23.97billion across Australia during FY2020-21 alone (or a 5th or revenue). With each state, except for Victoria, reporting a double-digit percentage increase in stamp duty revenue when compared to the previous year. Stamp duty is also an affordability barrier for not only first home buyers, but also people wanting to move house, whether it’s because they require more space, want to move...

With the value of equipment currently at historic highs, it is the perfect time for business owners in this situation to seek formal sworn valuation of their equipment and potentially raise an asset revaluation to strengthen their balance sheet. There is a transition happening in business, where baby boomers are reaching retirement age and can either: Sell their business to a competitor Sell part or all of their interest to key employees Undertake formal succession to the next generation In this blog, we explore these elements in greater detail, however we would like to note that this should not be...

The Western Australian Government has announced a $72 million package for businesses impacted by the Level 2 public health and social measures. The package includes: The Small Business Hardship Grants Program Payroll tax relief for large hospitality businesses COVID-19 Commercial Sporting Franchises Support Program Read on for more information, or contact your Ledge account executive to find out if you are eligible. Small Business Hardship Grant Program The Small Business Hardship Grants Program will provide tiered grants to businesses that have experienced a 50% or greater reduction in revenue for any two-week consecutive period between 1 January 2022 to 30...

Trade Sanctions / Embargos In light of the Russian / Ukraine conflict, its timely to review and understand the potential impact Sanctions may have on your business. Most of us will have a basic awareness of what sanctions are, and that they can be applied from Australia mirroring UN Security Council Resolutions as well Australia applying its own autonomous sanctions. Who must comply with sanctions? Although each specific Australian sanction regime varies in scope, all are applicable within Australia. Australian sanction laws are enforceable against Australian nationals, whether they are in Australia or overseas. What are the potential penalties and...