Which structure should you choose when setting up a business?
This is one of the most common questions I receive from clients all the time. “I am looking at starting up a new business but I need to decide on how to structure it”. “Do I form a trust, or maybe a company or do I just set myself up as a sole trader?” We […]
2016 TAX TIME IS NEARING!!!
It’s nearly that time of the year again. Processing of the 2016 Tax Returns is less than a month away and therefore so are the tax refunds. I am available by appointment whether that be in person, email, phone or skype. Either way I will find a solution that suits every situation. Alternatively I can […]
Top 5 tax tips – Businesses and Individuals for 2016
With the end of financial year fastly approaching it’s a good time to discuss tax planning and tax deductions. OUR TOP 5 BUSINESS TAX TIPS FOR 2016: Get your business tax ready with our top 5 Tax Tips for 2016. 1: Use your instant asset write off – for small businesses An instant write off […]
2016 Business Tax Planning Strategies
The end of the 2015/16 financial year is near, so now’s the time to review what strategies you can use to minimise your tax: 1: Concessional Superannuation Cap The concessional superannuation cap for 2016 is $30,000 per year for persons under 49 as at 30/6/15, and $35,000 for persons age 49 to 75. Do not […]
2015 tax planning strategies – business
The end of the 2014/15 financial year is near, so now’s the time to review what strategies you can use to minimise your tax 1: Concessional Superannuation Cap The concessional superannuation cap for 2015 is $30,000 per year for persons under 49 as at 30/6/14, and $35,000 for persons age 49 to 75. Do not […]
Key Lodgement Dates
The lodgement program 2014-15 This includes details of most of your lodgement obligations including: income tax returns monthly and quarterly activity statements fringe benefits tax (FBT) returns and pay as you go (PAYG) withholding annual reports annual goods and services tax (GST) returns and information reports annual and quarterly instalment notices a range of superannuation […]
2014 Tax Return Checklist
2014 Tax Return Checklist The following is a checklist for information required to prepare income tax returns for this year. Please ensure that you review the checklist and have all information available when completing your tax returns. Individual Tax Returns Income Gross Salary, Wages, Allowances, Benefits, Earnings, Tips and Directors Fees. Income from Business Activities. […]
Tax planning tips to consider prior to 30 June 2014
With the end of financial year vastly approaching, now is the time for individuals and businesses to consider the following: ATO benchmarking Benchmarks have been developed to identify taxpayers who report income or expenses different to similar businesses across industries. It allows the ATO to identify businesses that are not fulfilling their tax obligations. Bad […]
Checklist of employment related deductions
It’s nearly that time of the year again and I thought a refresher with what deductions you are entitled to claim was in order. When completing your tax return, you’re entitled to claim deductions for some expenses that are directly related to earning your income. The expense must not be a private, domestic or capital […]
Why should you use cloud accounting in your business?
Cloud software gives you the flexibility to run your business from work, home or even on the go. The confidence of knowing that you have a clear overview of your current financial position in real-time is a wise investment. You can use cloud software from any device with an internet connection. This means that many […]