As we settle into the new year, it is an opportunity to reassess your financial health to help you start the year off on the right foot.

As an SME, you generally need two hats when it comes to maximising tax deductions. There are deductions applicable to your business and to your personal circumstances. Also, depending on your situation, personal tax rates may be higher or lower than your business tax rates.

The Institute of Public Accountants has issued a caution to people planning on jumping in too early with this year’s tax returns.

The JobKeeper Payment is planning to stick around for another six months to assist business and employees affected by the COVID-19 pandemic. Read more about rates and eligibility.