Blog Feed
Sole Trader - complete guide
- Asset Protection
- Income
- Expenses
- Tax
- GST
- Buying a business
- Selling a business
- Other
March 2024 - Latest tweaks of the stage 3 tax cuts to make room for ‘middle Australia'.
... read moreStarting 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
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
Christmas Trading Hours
Please note that our office will be closed from Wednesday 20th December 2023 until Tuesday 9th January 2024
Wishing you and your family a Merry Christmas & safe and Happy 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 more2023 Australian Federal Budget for SMEs
-Individuals
-Small and medium businesses (SME)
-Superannuation
-Administration
Sole 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 and Small Business Skills and Training Boost (ends 30/06/2023)
... 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
... 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?
2022 Christmas Holidays
Our office will close on Wednesday 21st December 2022 and will re-open on Monday 9th January 2023
We would like to take this opportunity to thank you for your support and to wish you and your family a safe and Merry Christmas, a Happy New Year and a prosperous 2023!
ATO warning re 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 $880
... read moreSale of Rental Property checklist
Use this checklist to provide all of the necessary information to us to calculate the capital gain on the sale of your taxable property
Save 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 moreMotor Vehicle Expenses
ATO Information
ATO Tax Time Information - Home Office Expenses (D5)
-Running expenses
-Occupancy expenses
-Phone and internet
Things to consider in the lead up to 30/06/2022
As we approach the end of the 2022 financial year, it is important not to forget long term planning for retirement. We would like to highlight some superannuation related issues worth considering.
... read moreATO 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