Archive for December 2021
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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?