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Monday 15th July 2019
Categories: Business | Tax
Date:
By  Stephanie Oakley

Using the most advanced GPS tracking available you can now track and manage journeys and business mileage with ease. You can either simply tap 'start' and the App will track the journey (even when minimised) and press 'stop' to end the tracking, or set the app up to automatically track all journeys. The App will automatically

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Monday 24th June 2019
Category: Tax
Date:
By  Stephanie Oakley

Owning an investment property can provide great benefits, including additional income and entitlement to tax deductions.

Now is the time for property investors  to take advantage of the tax strategies available to them this financial year.

Prepaid expenses:

In order to maximise your tax bill in the financial

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Monday 6th May 2019
Categories: Business | Tax
Date:
By  Stephanie Oakley

Knowing what you can claim from travel allowances and expenses can be difficult as in some cases, tax deductions from an allowance are to be withheld unless specified otherwise.

The reasonable amount of travel expenses is updated yearly and is based on job type and salary. On the occasion that you are required to travel overnight for work,

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Monday 15th April 2019
Category: Tax
Date:
By  Stephanie Oakley

Many property investors can access a wide range of tax deductions for their rental property and items subject to depreciation.

Property investors may not be aware of the number of items that can be tax-deductible, such as accounting, bookkeeping and tax expenses relating to the property. Here are some tips to help you maximise

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Monday 25th March 2019
Categories: Business | Tax
Date:
By  Stephanie Oakley

The ATO often focuses on specific behaviours, characteristics and tax issues that are suspicious and can lead to investigations.

Due to enhancements in technology, the ATO has expanded its data matching capabilities which have improved the ability to identify incorrect reporting in tax returns.

The ATO has released a list of

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Wednesday 6th February 2019
Categories: Business | Tax
Date:
By  Stephanie Oakley
Australian Tax Office research indicates that, of the three in four enterprise owners that sought business tax advice from an accountant, 65 per cent retained a proactive relationship afterwards. This indicates how prized a proactive business accounting strategy is.
 
But what exactly is a proactive approach
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Monday 21st January 2019
Categories: Business | Tax
Date:
By  Stephanie Oakley
The business community can feel more personal than professional at times because small and medium enterprises (SMEs) need to support one another to survive. Australian Bureau of Statistics' research shows sole proprietor businesses had a 16 per cent exit rate within their first year in 2017. This shows many entrepreneurs are unaware
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Monday 7th January 2019
Categories: Not For Profit | Tax
Date:
By  Stephanie Oakley

There are more than half a million Not for Profit organisations (NFPs) in Australia. That's over half a million organisations that can claim some significant benefits in their salary packaging arrangements.

When an NFP establishes a salary packaging deal with staff, they

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Friday 21st September 2018
Categories: Superannuation SMSF | Tax
Date:
By  Stephanie Oakley

When it comes to how the super death benefit is paid out, there are specific tax implications involved which affect the amount a nominated beneficiary will receive.

In a situation where super is paid out after an individual has passed, it is generally split up into two components; taxable and tax-free. The tax-free portion

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Friday 21st September 2018
Categories: Finance | Tax
Date:
By  Stephanie Oakley

The Australian Taxation Office (ATO) has announced changes to the way GST is collected at property settlement.

According to the ATO, those purchasing new residential premises or potential residential land who are required to withhold part of the purchase price for payment (to the ATO) must submit a number of online forms. These forms

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