Blog Feed
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 moreMy business profit is $45,000 and the bank balance has not changed so where has the profit gone?
... 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 more2022 Federal Budget Summary
Compared to past years, this year’s Budget is a little bland however, it does include some ‘sweeteners’ to keep the electorate favourably disposed toward the incumbent Government, come election day.
Buying 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 - Employees working from home during COVID-19 (D5)
Running Expenses
-fixed rate method
-actual expenses
-short-cut method (COVID-19 only)
ATO 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
Car Expenses - which trips are claimable as work trips (D1)
Which trips are claimable as work 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
June 2021
- 2021 budget highlights
- Year end tax planning
- Superannuation and tax planning
March 2021
- Planning for a pandemic
- Coronavirus vaccine rollout
- What drives business growth and profits
- Ways to grow your business
December 2020
- Is it the right time to start a business
- Jobkeeper scam
- 2020-21 federal budget summary
September 2020
- Marketing in preparation for a post-pandemic world
- Closing a business
- Jobkeeper extension
- Business lessons from a pandemic
- Car expense & home office claims
The 5 Phases of Buying a Business
If you’re thinking of buying a business, you need to understand that it is a process. Basically, there are five stages or phases. Read our blog on what these stages/phases are.
... read moreWays to Grow Your Business - Your Ideal Type of Customer
Everyone wants to grow their business but sadly there’s no simple formula that guarantees growth. In fact, no amount of enthusiasm, passion, hard work or talent can guarantee business growth.
... read moreWhat Drives Your Business Growth and Profits?
Every business owner wants to grow their business and their profits. While there’s no secret formula or recipe, the fact is, business growth and improved profitability are outcomes achieved as a result of processes including marketing, your expertise, customer service and your team’s performance.
... read moreATO Scammer warning
The ATO has warned there are two main scripts the scammers are currently using.
... read moreCoronavirus Vaccine Rollout
Here’s What Business Owners Need to Know About Australia’s Rollout of the Coronavirus Vaccine.
... read morePlanning for a Pandemic
There is an old saying, ‘The most fertile source of insight is hindsight’. That being the case, what can business owners learn from the COVID-19 pandemic?
... read more