Tax Planning 2019
30th June 2019 is rapidly approaching, so now is the time for business owners to talk to their Accountants to look at tax planning. Tax
30th June 2019 is rapidly approaching, so now is the time for business owners to talk to their Accountants to look at tax planning. Tax
Written by Henry Brennan: Parliament has introduced new laws designed to protect Australia members’ superannuation savings from erosion. The reform aims to achieve this by
On the 2 April 2019, Treasurer Josh Frydenberg handed down his maiden budget. In what was clearly an election year budget, the Treasurer announced significant
Written by Nick Fedele: During the last Fringe Benefits Tax (FBT) year, the Australian Taxation Office (ATO) released guidance outlining their compliance approach when determining
Since the introduction of the Australian Charities and Not-for-profits Commission (ACNC) in December 2012 we often receive queries from confused clients on their reporting obligations
From 1 January 2019, businesses with annual taxable Australia wide wages of up to $1.5 million are not required to pay payroll tax, and the
The technology available to us today means that business activities can be performed from just about anywhere. Some of Australia’s most successful and well- known
We are seeing increased audit activity in regards to the Fringe Benefits Tax treatment of luxury cars held in entities. The ATO has a national
Written by Sarah Riccio: What is a Fringe Benefit A fringe benefit is a ‘payment’ to an employee provided in a different form to salary
Written by Robert Lennox: The end of September brings us to the end of the first quarter of the current financial year. Many of us
Written by Stephanie Hulme: Single Touch Payroll (STP) is a government initiative to streamline reporting requirements for businesses. If you employ 20 or more employees,
Written by Nick Fedele: In general, the running costs incurred for a motor vehicle are deductible in the proportion that it is used for work
Written by Adam Taylor: There may be times when cash flow is tight and paying your tax bills on time may be difficult. In times
Written by Sarah Riccio: Most small business owners tend to look at the Profit and Loss Statement for financial data about their business but when
Written by Nick Fedele: Are you thinking of renting a room in your home through Airbnb or becoming an Uber driver to earn additional income?
Written by Emily Baulderstone: Under Australian Tax Law, income derived by an individual who is considered to be an Australian resident for tax purposes is
1) Make sure you are not holding more stock than you need Holding more stock than you need is never a good idea. Excess stock
Poor performing products or services can be a serious detriment to your business, diverting valuable resources and finances from more successful ventures and pulling down
Many business owners think you need to increase sales to make more money. But often this is the more difficult path. A minimal increase to
There are two types of accounting methods accrual and cash accounting. Which type your company uses can have a major impact on the total revenue
One of the most common questions we get asked is “Am I making enough money” or to put it another way “How much profit should
Last week marked the biggest change to depreciation legislation in 15 years. As part of the government’s efforts to claw back negative gearing parliament passed
A common question that we often get asked by our clients is “How can I protect assets left to my children from in-laws if their
In my work advising business owners I’m often asked the following question – “how much profit should I be making?” Or to put it another
In my work dealing with business owners, I’m often asked how to increase sales. Often, lifting sales can be viewed as too daunting, particularly if
Corporate beneficiaries are a popular and effective strategy for delaying tax. However if you use a corporate beneficiary it’s important that you remember just that;
Unless you’re running your business as a sole trader, the time will come when you must decide how you will remunerate yourself for your time,
Measuring the right financial metrics is key to the ongoing health of your business. They can provide important insights into how well your business is
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