Blog Feed
March 2023
- Why Is Your Business Under Performing?
- Propsed Amendments to Superannuation Tax Concessions
- Changes to Claiming Home Office Expenses
- Looking to Grow Your Business (And Quick?)
... read more
Additional tax on concessional contributions (Division 293) – for individuals
Division 293 tax is an additional tax on super contributions, which reduces the tax concession for individuals whose combined income and contributions are greater than the Division 293 threshold.
... read moreFirst Home Buyers Seminar
All you need to know about deposits, borrowing capacities and government incentives - 2023 Event
... read moreChanging from a Sole Trader to a Company or Trust
My business has grown and I think its time to change to a Company
... read moreDecember 2022
- 4 Myths of Starting a Business
- Company Director ID Deadline Extended to 14 Dec
- ATO Identify 3 Primary Targets for Individual Taxpayers
- ATO is Watching the Cash Economy
- ATO Fines to Increase
- Expansion on Single Touch Payroll Phase 2
- Hello 2023 - is it Time for a Business Health Check?
ATO Scams – “what we never do”
The ATO has again encouraged businesses and individuals to brush up on their knowledge of tax and superannuation scams – and that they know what to look out for. In this regard, the ATO states that here are a few things it never does:
... read moreDo I need to register for GST?
You must register for GST once your sales turnover reaches $75,000 (see below - working out your turnover)
You can voluntarily register for GST if your sales are under $75,000 – business owners choose to register so their business appears bigger than it is or to claim back GST on a large purchase
You must register for GST when you provide taxi or limousine travel for passengers (including ride-sourcing) regardless of your GST turnover – this applies to both owner drivers and if you lease or rent a taxi
... read moreVCAT ABA forms
Do you need help preparing the VCAT Account by Administrator (ABA) form?
If so we can help
Prices start from $1,650 including GST
... read moreSave tax by contributing extra $ into super
Did you know that you can save tax by contributing additional $ into super. Conditions Apply
... read moreSeptember 2022
- Thinking of starting a Business?
- ATO is Watching the Cash Economy
- The Importance and Management of Google Reviews
- What you Need to Know Before you set up a SMSF
- To Prune or not to Prune?
- Important Changes from 1 July, 2022
Scam Alert
Warning - Scam! Delete immediately!
You have an outstanding refund from MyGov.
... read moreHome-based Business Expenses
For the small business owner claiming deductions for the costs of using your home as your main place of buisness
... read moreRental Property Checklist
You'll need to provide the following information when you see your accountant
... read moreATO Tax Time Information - Home Office Expenses (D5)
-Running expenses
-Occupancy expenses
-Phone and internet
ATO Tax Time Information - Car Expenses (D1 & D2)
Choose from 2 methods
Method 1 = Logbook
Method 2 = Cents per kilometre
June 2022
- Year End Tax Planning
- It's Time to Work ON the Business, not just IN the Business
- Buying a Business & Due Diligence
- Federal Budget 2022-23 Round Up
- 2022 Tax Return Checklist
Tax Planning - Trusts
Tax planning is the process of estimating your current year's taxable income and tax payable and taking steps to minimise this.
It involves these 4 steps.
... read moreBuying a Car
IMPORTANT: If unsure as to whether your vehicle / dual cab ute is an exempt vehicle please contact us BEFORE purchasing it
... read moreMarch 2022
- The Key Ingredients for Business Success - Part 3
- Great Teams Build Great Businesses
- Winning Website
- Video, Technology & Software
- Customer Database and CRM system
Marketing Essentials for Business Start-Ups
- Branding
- Website
- Social Media
... read more
Bookkeeping software
We recommend Xero (for most clients)
Other common bookkeeping software includes
- MYOB
- Quickbooks
- Reckon
- Sassu
Paying Workers - Links
Take care when employing contractors as they may actually be employees in the eyes of the ATO.
Work cover, payroll tax and super may also be payable - you will need to refer to the relevant authority's website for further information
... read moreHow much super do you need
How much super do you need to retire depends on the lifestyle you want
... read moreStarting a business
When starting a business & deciding which entity to use (sole trader, trust, company) we focus of 4 things
1-Asset Protection - protecting business owners assets
2-Income Tax Minimisation
3-Capital Gains Tax Minimisation - when selling / exiting
4-Exit / Sale of Business
Other considerations include – director wages & super, work cover, image, note that some businesses will only deal with a company/trust as opposed to sole traders
Make a free 30min no obligation appointment with us
... read moreATO Tax Time Information - Self-education Expenses (D4)
General expenses eg course fees and books
Depreciating assets eg laptop
Car expenses
ATO Tax Time Information - Clothing & Laundry Deductions (D3)
Occupation specific
Protective
Compulsory uniform
Non-compulsory uniform (registered with AusIndustry)
ATO Tax Time Information - Travel Expenses (D2)
Tolls
Parking
Motor vehicles (other than cars)
Local travel
Overseas travel
... read moreCar Expenses - which trips are claimable as work / business trips
Which trips are claimable as work / business trips?
... read moreDecember 2021
- The Key Ingredients for Business Success - Part 2
- Government Locks in Director ID Deadline
- Preparing to Sell Your Business
- ATO's New Stapled Super Fund Rules
- Why Do New Businesses Fail?
Director ID (NEW)
A unique 15-digit identifier given to a director which will be kept forever. It will help to prevent the use of false or fraudulent director identities
... read moreWhy Use A Tax Agent
Tax Agents will help you to minimise your tax and their fee is tax deductible
... read moreSeptember 2021
- The Key Ingredients for Business Success - Part 1
- COVID-19 Grants & Subsidies