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Sole Traders using bank statements
What information do I need to provide prior to my appointment?
... read moreSole Traders using Excel
What information do I need to provide prior to my appointment?
... read moreSole Traders using Xero
What information do I need to provide prior to my appointment?
... read moreScam - New MyGov Message
New scam doing the rounds at tax time
It's pretty obvious that its a scam when you look at the url and poor gramamar
Log into MyGov using your app - NEVER click on a link from an email
... read more2024-2025 Australian Government Budget for Individuals
2024-2025 Australian Government Budget for Individuals
Easing the cost-of-living pressures, taking pressure off Australians
... read more2024-2025 Australian Government Budget for SBE
2024-2025 Australian Government Budget for Small Business
Delivering a better deal for small businesses
Company wages, dividends & drawings
Company owners can take company profits as
1-Wages
2-Dividends
Sale of Rental Investment Property
Here is a list of information required to work out the capital gain / loss on the sale of your investment property
... read more2024 Individual Tax Return Checklist
Our individual tax return checklist. will assist you in preparing your tax return & getting your maximum refund
Buying a Motor Vehicle - Sole Traders
There are different Tax & GST treatments depending on the type of can you purchase
Cars
These are motor vehicles which are designed to carry both:
-a load less than one tonne
-fewer than 9 passengers
Examples: sedan, SUV
Other Vehicles
These are vehicles which ARE NOT designed principally to carry passengers
Examples: van, single cab ute
Depreciation limits DO NOT apply
Some vehicles i.e. dual cab utes can be either a Car or Other Vehicle so the specifications need to be reviewed
If unsure as to what type of vehicle you are buying speak to your accountant BEFORE buying it
... read moreJune 2024
Topics Include
- 2024/2025 Federal Budget
- Tax Planning - 2024 Year End
- Tax Return Checklists
ATO PAYG tax instalments
Q1- My personal tax return has just been prepared and I am getting a tax refund of $2,000 but I also have an activity statement debt of $8,000. Why is that?
Q2- Why does the ATO want me to pay tax instalments?
Q3- Can I vary the ATO instalments?
... read moreMedicare Levy Surcharge
If your adjusted taxable income is greater than the applicable threshold and you don't have appropriate private health insurance for the full year then you will be liable for the medicare levy surcharge
... read moreExcel Cashbook - 2024 Tax Year
Recommended for Sole Traders ONLY who are
-Not registered for GST
-Not employing staff
March 2024
Topics Include
- Stage 3 Tax Cuts
- R&D Claims
- Business Growth & Profits
- Debt Recovery
- Spam Act
Sole Trader - complete guide
- Asset Protection
- Income
- Expenses
- Tax
- GST
- Buying a business
- Selling a business
- Other
Starting a new business
Xero Toolkit
- Research
- Setup
- Finding & selling to customers
- Getting paid & paying others
- Business accounting 101
- Xero free trial
Software Options
- Xero (recommended)
- MYOB Account right / Essentials
- Quickbooks Online
- Excel
Excel Cashbook - 2025 Tax Year
Recommended for Sole Traders ONLY who are:
-Not registered for GST
-Not employing staff
2023 Individual Tax Return Checklist
Our tax return checklist. will assist you in preparing your tax return & getting your maximum refund
December 2023
Topics Include
- Fighting Inflation
- Business Structures
- I am making a profit so where has the cash gone
- Work Christmas parties & FBT
- Directors & cyber security
Company or Trust?
Coming Soon
2024-2025 Christmas Trading Hours
Please note that our office will be closed from Friday 20th December 2024 and will re-open on Wednesday 8th January 2025
We would like to take this opportunity to thank you for your continued support and to wish you and your family a Merry Christmas, and best wishes for a Happy and Prosperous New Year!
Making Appointments
There are 3 appointment options:
Option 1 - Face to face appointment
Option 2 - Phone appointment
Option 3 - You can email your info / documents through – we’ll draft it and email you with our questions
Sole trader / contractor tax returns are more involved and many of them cannot be completed on the spot - for these tax returns you'll need to choose Option 3
If you have a Xero, MYOB, Quickbooks or other bookkeeping file you'll need to invite us into your file
We'll also need a bank statement @ 30 June so we can check the balance against your bookkeeping file
... read moreSeptember 2023
Topics Include
- Contractor Payments (TPAR)
- Trade Marks
- Selling your business
Tax Return Process - Business Clients
Steps we follow to prepare your business tax return
... read moreJune 2023
Topics Include
- The 2023-24 Federal Budget Highlights for Individuals, Small & Medium Business, and Superannation
- 2023 Year End Tax Planning Guide
- 2023-2024 Tax Return Checklist
... read more
Is it worth paying my HECS early?
CPI is applied to HECS debts on 1 June each year. The 2023 CPI is 7.1% so consider paying out part or all of your HECS debt before CPI is applied.
Make payment early to ensure the payment is applied to your HECS debt before 1 June
... read moreSole Trader - What deductions can I claim?
Small Business Entities (SBE) can generally claim everything they spend on the business, except expenses which of a private or capital nature
... read moreSmall Business Technology Investment Boost and Small Business Skills and Training Boost (ends 30/06/2023)
Small Business Technology Investment Boost (ends 30/06/2023) and Small Business Skills and Training Boost (ends 30/06/2024)
... read moreMarch 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?