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02-Aug-2022 YBM

The frequently forgotten income streams that need to be included

The ATO has recently reminded tax payers, both business owners and wage earners, of a number of forgotten income streams that need to be included in assessments.  Otherwise be prepared to face their wrath! Tips, compensation payouts, investment earnings, interest … Continue reading

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06-Jul-2022 YBM

Raising costs = raising prices

The latest Australian Bureau of Statistics has found that at least a third of businesses are expecting to impose larger than usual price hikes over the next three months.  Most of these businesses, 92% of those surveyed, place the blame … Continue reading

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24-Jun-2022 YBM

GST fraud crackdown could hit legitimate claims

Tony Greco of the Australian Institute of Public Affairs (IPA) has stated that the crackdown on GST fraud by the ATO is going to hurt legitimate businesses that get caught in the crossfire.  The $850 million of fraudulent refunds that … Continue reading

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10-Jun-2022 YBM

Is it a yeah, or a nah?

Are you tossing up whether to claim for doggie day care, Tim Tams and pot plants as a working from home expense this tax year? Although it might sound tempting and can be argued as a possibility, it can lead … Continue reading

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26-May-2022 YBM

Should there be levies on EV vehicles?

Statistically speaking, it is a safe bet that you said ‘yes’ to that question. A staggering 92% of those asked in a recent online poll believed that EV owners should be contributing to the infrastructure of Australian roads. CPA Australia … Continue reading

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13-May-2022 YBM

The big crypto crackdown

Don’t fool yourself into believing that your cryptocurrency transactions are going unnoticed by the ATO. Even if you are just dabbling in the world of crypto, it is important that you acknowledge the tax implications that it might have. You … Continue reading

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04-May-2022 YBM

First Home Super Saver scheme – how does it work?

From 1 July 2022, if you’re a first home buyer you can release up to
$50,000 (up from $30,000) from your voluntary super contributions
to help you buy your first home. Continue reading

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29-Apr-2022 YBM

Do you feel stronger post pandemic? You’re not alone!

A MYOB survey of 500 SME owners and operators in Australia has shown that 52% of those interviewed have higher business confidence than they did before the pandemic. An incredible 78% report to have the same or an increased appetite … Continue reading

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13-Apr-2022 YBM

Your tax planning guide for 2022

It can all get a little overwhelming when it rolls around to tax time. Paying tax happens every year, without fail, so perhaps it is time to adopt a few small strategies to make the process a whole lot less … Continue reading

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30-Mar-2022 YBM

Federal Budget 2022-23 Summary

There is certainly something for everyone in this 2022-23 budget. Continue reading

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25-Mar-2022 YBM

Reminders issued for late lodgements and payments

It’s a new year, we are all back to work and settled in now after what we hope has been a relaxing and joyful summer period for all.  Now that you’re back on track and feeling fresh, it is a … Continue reading

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23-Mar-2022 YBM

Why does insurance matter?

The unexpected events of the past few years, have made financial protection a front of mind matter for most Australians. Continue reading

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18-Mar-2022 YBM

Record high job vacancies

In November of 2021, a record number of job vacancies were listed, according to the Australian Bureau of Statistics (ABS).  A promising post-pandemic situation for employees, the number of job vacancies is 74% higher than they were at the start … Continue reading

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03-Mar-2022 YBM

Anxiety taking its toll on SMEs

With over 1000 SMEs surveyed in December 2021 through MYOB’s Business Monitor, we have found that mental health is of a significant concern to Australian business owners, with anxiety and depression having a serious impact.  In fact, 45% of all … Continue reading

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23-Feb-2022 YBM

We are open for the new year and taking appointments

Over the last two years many people have taken stock of their life and have had a chance work out what is most important. So now is a great time to review your financial situation to ensure it still fits with your plans for your future. Continue reading

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23-Feb-2022 YBM

A new year is a chance for a fresh start

New year is a great time for making lifestyle changes, however, for goals and changes affecting your financial health, there’s often no better time than when starting a new job. Continue reading

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16-Feb-2022 YBM

Why is it so difficult to find employees?

If you’re a business owner and have been struggling to find talent for your business lately, you’re not alone. You have to have been living under a rock to have not heard of the Great Resignation that is plaguing businesses … Continue reading

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08-Feb-2022 YBM

How ethical is your accountant?

The sixth annual Ethics Index has been released by the Governance Institute of Australia. This is a survey that gauges what Australians think of the ethical standpoint of the professionals in many sectors of business in society.  We are proud … Continue reading

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03-Feb-2022 YBM

Long term unemployment cause for concern

The Australian Council of Social Services (ACOSS) has recently reported some distressing figures. The levels of long-term unemployment in this country are at an all-time high, with as many as 826,000 individuals needing income support over the past year.  This … Continue reading

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31-Jan-2022 YBM

Hard work by accountants are paying off with SME trust skyrocketing

We understand that running a business can be hard work. It is oftentimes lonely, isolating and extremely stressful. Recent years have done nothing to improve business owner’s sense of wellbeing. Interestingly, it seems as if this compassion has filtered through. … Continue reading

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31-Jan-2022 YBM

NSW Business Support 2022

The NSW Government has announced a $1bn support package for struggling NSW small businesses. Acknowledging the difficulty that business operators have faced, the NSW Treasurer Matt Kean has announced a package of measures to support small businesses impacted by COVID-19 … Continue reading

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13-Jan-2022 YBM

Set yourself up for success for 2022

It’s been another year of turmoil for business owners. You wouldn’t be wrong in wondering if this is your reality now, that going back to ‘normal’ isn’t going to be entirely possible.  If your business has survived into 2022, chances … Continue reading

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05-Dec-2021 YBM

Help is available for residents and businesses impacted by current and recent flooding….

While we cannot undo the damage Mother Nature has thrown our way, YBM are pleased that there are a number of assistance measures in place for individuals and businesses. Disaster Declarations have been issued for a number of local LGAs, … Continue reading

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22-Nov-2021 YBM

A snapshot of the taxable Australians

With the economy again opening up post Covid-19 disruptions, a 2022 election looming and the threat of inflation all on our heels, a repair of the budget is in order, with a focus on who pays the bills and who … Continue reading

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18-Nov-2021 YBM

Tax for Christmas?

So, you’re looking to purchase a few staff gifts for the holiday season and perhaps throw a small party in honour of the silly season after yet another, anything but silly year? It’s best you’re equipped with the information that … Continue reading

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03-Nov-2021 YBM

New requirements for all company Directors

As part of a strategy to reduce illegal phoenix activity and improve traceability of company directors over time, all directors will soon be required to hold a ‘Director Identification Number’. This is a single, unique 15-digit identifier. It will not change and will be attached to the individual forever. Continue reading

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28-Oct-2021 YBM

Black Dog Institute’s One Foot Forward challenge 2021

YBM is participating in the Black Dog Institute’s One Foot Forward challenge in October 2021 to walk as much as we can and raise funds. We have set a goal of $1000. We also have two staff members who are Mental Health First Aid qualified. Continue reading

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28-Oct-2021 YBM

Mentally healthy workplaces – a NSW Government edition

Mental health at work matters. Mentally healthy workplaces are more productive and profitable businesses where everyone feels supported. Find out how mentally healthy your workplace is by taking the NSW Government’s Workplace Pulse Check. Continue reading

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13-Oct-2021 YBM

Here is how to make sure your business is a success

Business ownership is not for the faint hearted. If you have an idea for a business that you are eager to transform into reality, then there are a few concepts that you may find useful to ensure that your business has the best possible chances of becoming a success.
Continue reading

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20-Sep-2021 YBM

When and how to retire from your own business

Retirement as a business owner is something that will likely sneak up on you because business owners are so focused on the here and now for management success.  Although you have undoubtedly considered the prospect of retirement in coming years, … Continue reading

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06-Sep-2021 YBM

COVID-19 FINANCIAL ASSISTANCE MEASURES

Many of you may be confused about the current Covid Financial Assistance that is available as lockdown dates and eligibility rules change. To assist you we have compiled a basic summary of the main assistance measures currently available. Please note … Continue reading

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27-Aug-2021 YBM

Important ATO rulings for SMSFs

We kindly urge you to speak with us about your superannuation goals and current plans to ensure that the best possible outcome is achieved for your financial future. Continue reading

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15-Aug-2021 YBM

All things Cryptocurrency

Cryptocurrency is a $1-2 trillion USD market, and it is certainly a concept that is drawing the attention of investors everywhere. With the ability to trade crypto for real estate or businesses or sell it for cash, your options are extensive when focusing on the potentials available. Continue reading

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05-Aug-2021 YBM

Home office expenses – the ‘how’ and ‘how much’

It is no surprise that there is increased interest in what, how and how much of additional office expenses can be claimed in tax returns for last year. Many were forced to work from home, some for lengthy periods. The … Continue reading

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29-Jul-2021 YBM

Applications now open for the JobSaver Payment

As the name would imply, the JobSaver scheme is designed to help NSW businesses maintain their employee headcount while impacted by the latest COVID-19 restrictions. Continue reading

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27-Jul-2021 YBM

The 2021 covid 19 business grant

As we write this, it is a month since stay-at-home restrictions were placed on Greater Sydney, impacting businesses far and wide, and further compacted by restricted freedom of movement throughout the school holidays. Continue reading

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22-Jun-2021 YBM

Superannuation changes

Superannuation changes…there’s quite a few of them and they will impact both employers and employees. Here’s what you need to know! Continue reading

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17-Jun-2021 YBM

Single Touch Payroll and the end to exemptions – the nitty gritty!

Changes are due to come into effect shortly, but what does it mean from a practical perspective? Continue reading

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16-Jun-2021 YBM

Four easy tips to get your tax right

On the road for work? Deductions for transport and logistic employees may include travel and self-education expenses. Continue reading

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03-Jun-2021 YBM

Get an A+ on your tax claims

Haven’t lodged your tax return yet? Tax time revision is made easy with the ATO’s top tips on what education professionals can and can’t claim. Continue reading

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19-May-2021 YBM

Federal Budget Update

Got 5 minutes for a brilliant summary of the Federal Budget? Continue reading

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19-May-2021 YBM

How will the Federal Budget affect you?

During this year’s Federal Budget announcement Treasurer Josh Frydenberg stated
“Australia is back!”. The Budget proposes positive changes to superannuation, an extension
of the low and middle income tax offsets and a boost to aged care services. Continue reading

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05-May-2021 YBM

Tax Time Toolkit for Retail Workers

Find out what you can claim this year as a retail worker. Continue reading

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15-Apr-2021 YBM

Funding your retirement – the majority of Aussies cannot rely on Super alone

Around 1.7 million Australians over the age of 70 have no superannuation. Don’t be left short in your retirement. Come see us now. Continue reading

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23-Mar-2021 YBM

Single Touch Payroll changes from 1 July 2021

From 1 July 2021, small employers will commence to report for closely held payees, and the quarterly exemption for micro employers will generally cease. This article summarises the ATO guidance. Continue reading

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17-Mar-2021 YBM

Fight the flight

Even in volatile markets, the fundamental tenets of good investment remain unchanged: Quality assets, quality structures and quality management. Continue reading

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11-Mar-2021 YBM

Ladies, make your money work harder!

Growing the money pot doesn’t mean you have to work harder – you can make your money work harder for you. Continue reading

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10-Feb-2021 YBM

AgriStarter loan offers support to new farm business owners.

Succession loans and first farmer loans are now available through the ArgiStarter loan to enable new and established farmers to achieve their agribusiness goals. Continue reading

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06-Jan-2021 YBM

One of our greatest strengths

Being a member firm of the Walker Wayland Australasia network connects YBM to other independent firms who are driven by similar values. Continue reading

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23-Dec-2020 YBM

YBM’s Christmas Message

YBM wishes all of our clients a happy and safe holiday period and are looking forward to seeing you all in 2021. Continue reading

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21-Dec-2020 YBM

The financial impact of a furry friend

There are over 29 million pets in Australia with approximately 61% of households owning one. Continue reading

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16-Dec-2020 YBM

Do you have more than one super account?

There are 10 million Australians with a super account, and more than 36% of those hold more than one. Continue reading

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11-Dec-2020 YBM

Youth Allowance Fact Sheet

Youth Allowance. Who’s eligible and who’s not. Continue reading

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03-Dec-2020 YBM

NSW Budget 2020/2021

A budget tailored to business recovery and job growth in an effort to stimulate household recovery. Continue reading

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12-Nov-2020 YBM

The Regional Job Creation Fund – A great opportunity for Central West businesses.

Now’s the time to expand your business and take on that new project with new funding available for job-creating projects. Continue reading

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04-Nov-2020 YBM

HomeBuilder Grant – the deadline is approaching.

The December 31st deadline is approaching fast. Find out if you are eligible. Continue reading

Apprentice at work

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29-Oct-2020 YBM

50% subsidies are now more readily available for apprentices and trainees!

The apprentice and trainee subsidy has been extended and expanded to include more businesses. Continue reading

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20-Oct-2020 YBM

Businesses in the Central West are perfectly positioned to make the most of export opportunities…

The Central West is perfectly located to access the abundance of overseas markets. Continue reading

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12-Oct-2020 YBM

The Federal Budget 2020-21 and what it means for you…

With this years budget, the Federal Government has just announced the largest projected budget deficit since World War II.
Find out how this record spending benefits you. Continue reading

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03-Sep-2020 YBM

Covid-19, September 2020 – What are the changes to JobKeeper and other stimulus, and what you can do to help your business navigate a way through.

The Federal Government stimulus is changing at the end of this month. Find out what’s changing and what you can do to help your business adjust Continue reading

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30-Jul-2020 YBM

Tax time made easier with YBM

Find out how we can help you maximise your tax return and gain expert guidance through our new processing channels. For further information and assistance in completing your tax return. Please contact us today. Orange02 6362 1533Email us27 Sale St(PO … Continue reading

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23-Jul-2020 YBM

Jobkeeper 2.0. What changes after 28 September.

The Federal Government have extended Jobkeeper into 2021, but with tighter access and reduced rates. Continue reading

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20-Jul-2020 YBM

Farm subsidies and drought assistance. What support is still available for eligible farming businesses.

A number of changes and some important deadlines, but there is still support available for eligible farming businesses… Continue reading

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08-Jul-2020 YBM

Tax tips when you’re working from home.

The ATO’s new Shortcut Method has been designed to help people working from home claim quickly and easily during the COVID-19 outbreak. Continue reading

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17-Jun-2020 YBM

Could ‘covid-recovery’ be as simple as a cash flow budget?

A cash flow budget is a very important place to start your Covid-19 recovery. Continue reading

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04-Jun-2020 YBM

Coronavirus Stimulus – up to $25,000 grants for home builders and renovators.

‘HomeBuilder’, the government’s COVID-19 stimulus for the construction industry, opens today! Continue reading

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20-May-2020 YBM

Support our team and set us a challenge!

Our dedicated team are keen for you a set them a challenge to help raise money for MS. As many of our friends and clients are well aware, we love clocking up the kilometres for a good cause! So, this … Continue reading

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22-Apr-2020 YBM

Coronavirus Stimulus – JobKeeper Nitty Gritty

Further clarification on the $130 billion helping hand for businesses and their employees Continue reading

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15-Apr-2020 YBM

Coronavirus Stimulus – How to claim your JobKeeper payment

A simple guide for businesses that explains how and when to claim. Continue reading

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14-Apr-2020 YBM

Coronavirus Stimulus – Working from home

An explanation of what you can claim from the tax office while working from home. Continue reading

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03-Apr-2020 YBM

Coronavirus Stimulus – NSW government grants for battling businesses

Grants of up to $10,000 to provide fast relief for NSW small businesses battling the effects of COVID-19 Continue reading

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03-Apr-2020 YBM

Coronavirus Stimulus Package – Changes to SMSFs

As part of the response to COVID-19, the ATO has announced some potential relief for a Self-Managed Superannuation Fund (SMSF) that rents a commercial property to a related party’s business. Continue reading

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31-Mar-2020 YBM

Coronavirus Stimulus Package – JobKeeper payments

A $130 billion helping hand for businesses and their employees Continue reading

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24-Mar-2020 YBM

Coronavirus Stimulus Package – Full details of economic response

A complete overview of the Federal Governments support package. Continue reading

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24-Mar-2020 YBM

Coronavirus Stimulus Package – Social Security & JobSeeker Payments

The JobSeeker Payment has been expanded to include sole traders, the self-employed, casual workers and contract workers who meet the income tests as a result of the economic downturn due to the coronavirus. Continue reading

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24-Mar-2020 YBM

Coronavirus Stimulus Package – Collaboration with banks to boost working capital

Businesses getting bank loans to tide them over and boost their working capital will now have 50% guaranteed by the government and a repayment holiday of 6 months. Continue reading

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24-Mar-2020 YBM

Coronavirus Stimulus Package – Instant asset write off

Its official! The instant asset write-off for this financial year is now $150,000 and the eligibility has been expanded. Continue reading

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24-Mar-2020 YBM

Coronavirus Stimulus Package – ATO assistance offering

For taxpayers having financial difficulties as a result of the economic downturn caused by Coronavirus, the Australian Taxation Office (ATO) will provide support. This includes more time to pay their tax debt and payment plans that may have zero or low interest. Continue reading

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23-Mar-2020 YBM

Coronavirus Stimulus Package – Superannuation

As part of the new Economic stimulus in response to the COVID-19 pandemic, announced on 22 March 2020, early access to superannuation may be available to those affected by COVID-19. Continue reading

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23-Mar-2020 YBM

Coronavirus Stimulus Package – Cash stimulus for employers

Phase two of the Federal Government stimulus package includes measures to boost cashflow for employers to help retain staff and keep operating. This applies to businesses and Not-for-profit entities. Continue reading

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23-Mar-2020 YBM

Coronavirus Stimulus Package – Apprentice and Trainee Subsidy

YBM have put together a simple explanation of who can claim, what you can claim and how. Continue reading

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21-Mar-2020 YBM

Making the top 1%! Why making the AFR’s Top 100 Accounting Firms in Australia is a big deal.

YBM’s inclusion into the Australian Financial Review (AFR) Top 100 Accounting Firms 2019 confirms YBM’s position as one of the top regional accounting firms in Australia.

Continue reading

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19-Mar-2020 YBM

How to stay connected to a remote workforce

More and more workplaces are switching to remote working. The key to success in this way of working is staying connected to your employees. Continue reading

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18-Mar-2020 YBM

YBM Approach to COVID-19 (Coronavirus)

As we continue to monitor the situation with COVID-19 (Coronavirus) we wanted to update our clients, friends and the community. Continue reading

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13-Mar-2020 YBM

Coronavirus Government Economic Response

A $17 billion package has been announced in response to the expected downturn in the Australian economy as a result of the Coronavirus outbreak.

This support package delivers good news for 3.5 million businesses and around 6.5 million lower income Australians. Continue reading

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12-Mar-2020 YBM

Today’s a great day to plan how to grow your business!

Now is the time to plan your business strategies for the rest of this year and next. How YBM can help you with that. Continue reading

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28-Feb-2020 YBM

Coronavirus now infecting stockmarkets

With the increasing spread of Coronavirus, markets are getting very nervous about the disruptive impact this virus will have on the world economy. Continue reading

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18-Feb-2019 YBM

Single Touch Payroll: What do you need to know as an employer

With Single Touch Payroll set to become mandatory for all employers in a matter of months, we’re here to keep you updated updated on the latest developments and how to be compliant. Continue reading

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10-Feb-2019 YBM

New Year, New Scam

The Australian Taxation Office (ATO) is warning taxpayers to be alert for scammers impersonating the ATO, as they change tactics in 2019. Continue reading

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04-Feb-2019 YBM

Is your business ready for single touch payroll?

Single touch payroll is a change to the way businesses report their employees’ tax and superannuation information to the ATO. From July 1, it will be mandatory for all businesses to use an electronic payroll program that enables their business to electronically report payroll information. Continue reading

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28-Nov-2018 YBM

Shutting down over Christmas and New Year?

The end of 2018 is fast approaching. It’s time to start thinking about what happens over Christmas and New Year. Many businesses shut down or run on skeleton staff over the holiday period. In this blog, find out how this affects pay and leave. Continue reading

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10-Oct-2018 YBM

Two-Step Authentication to Keep your Data Safe

Is your data protected? New regulations for the transfer of data and software security have certainly brought this to front of mind, and not without frustration. This year has seen a significant increase in all things data security, and we all have no choice but to comply. Continue reading