As part of the Federal Budget 2022 – 23, the government announced support for small business, in the form of two bonus tax deductions:
The legislation enacting both announcements has now passed Parliament and impacts the preparation of 2023 income tax returns.
The potential impact of 60 day dispensing
It is common for pharmacies to be owned in partnership between the ’Founder / long term owner’ (Founder) of the business and younger partners. This is often part of a succession plan for the Founder. Alternatively, it may be a result of a key employee retention model.
In both scenarios, the equity held by the Founder in the business is ’used’ to provide the incoming partner with the capacity to borrow funds to acquire their partnership interest.
For the last 8 years since the inception of Holman Hodge we have enjoyed being located at Level 5, 420 King William Street. However, our lease soon expires and as a result it is time for us to move to a new home.
We are pleased to announce that we will be moving to Level 15, 45 Pirie Street in September this year. The building we are moving into is about to go through a significant transformation and is located in a vibrant part of the city business district that we believe will be fantastic for our business.
As always there are a lot of things to consider for the end of financial year and starting a new financial year so we have put together some tips below to help.
As we know from the Federal Budget 2023, significant changes are proposed for Australia’s pharmaceutical landscape, commencing September 1, 2023.
Eligible patients with chronic conditions will have the option to purchase two months’ (60-days) worth of commonly prescribed medicines (PBS listed) for the price of a single prescription. While the Government’s change brings perceived consumer benefits in reduced prescription fees, it brings with it a range of concerns for pharmacists, their businesses and the community.
