LATEST NEWS & ARTICLES
Business Structures
Business Structures When considering going into a new business, buying an existing business or buying into an existing business, the business structure and the business investment structure is critical. This will determine asset protection and tax liabilities. Types...
Capital Gains Tax Australia CGT
Capital gains tax rate Australia Please note this is general advice only and cannot be acted on without seeking professional advice. Capital Gains Tax in Australia isn’t a separate tax like some think it is. It’s actually part of the general taxation system, just with...
What is Fringe Benefits Tax – FBT
Fringe benefits tax definition Fringe benefits tax (FBT) is tax levied on employers based on the value of extra payments or benefits provided by employers to employees and their associates over and above wages and superannuation payments. The fringe benefits tax...
Xero changes things up with a new navigation
In the last week of November, Xero will roll out their new navigation – Helping you get a simple, beautiful experience. This is so everyone can get on with daily tasks easily and efficiently. It’s based on research and testing with hundreds of people – Including...
Casual Rates to change…. AGAIN.
If the constant new court decisions about casual employees aren’t confusing enough, a Fair Work Review will now see employers fork out higher penalty rates for casual retail workers. The change will take effect from 1 November 2018 – just in time for the Christmas...
Don’t just reverse the risk – remove it
Consider this fundamental point in business; whenever a customer makes a purchase, they take a risk that the product or service will work. When you think about it logically, the fact that they’re taking a risk must hamper the decision-making process. In a lot of...
The Costs & Pitfalls of DIY Business Structures
While you think you’ll save a few dollars going online to set up a company or trust yourself, the DIY approach is a false economy. Like most accounting firms, we use specialist providers for business structures to ensure we understand the contents and workings...
Doing the Rounds: Scams targeting ASIC customers
Scam emails are not current news, and ones from ASIC have been circulating for a good couple of years now. We've been alerted recently from a few clients that they have received some odd correspondence from ASIC, and from this we can confirm that another one is doing...
Time for a change…and quickly!
Ever heard the expression “time is money”? Well, it’s never more true than when it comes to making changes to your business. While change is not something that most people embrace quickly or open-heartedly, if it’s done too cautiously it can flatten revenues, eat...
Retail store finds one way of doing things brings success
Sarah and Tim own an independent home entertainment retailer, selling televisions, music systems, phones, computers, games and consoles and other consumer electronics. Having completed their year-end accounts and tax work, the accountant presented the couple with a...
ATO guide to the 5 most common Tax Time mistakes
As Tax Time 2018 has 'kicked off', the ATO has profiled the five most common mistakes and the personalities most likely to have tax time troubles. The top five mistakes include taxpayers who are: leaving out some of their income (e.g., forgetting a temp or cash...
Taxable Payments Annual Reports due 28 August
Are you in the Building & Construction Industry?? If so, have you completed your Taxable Payments Annual Reports for your contractor payments due for lodgement by 28 August 2018. The Taxable Payments Annual Report is a report required by the ATO detailing...
Xero Users – Why you really need 2 Factor Authentication
A couple months ago, Xero made it compulsory for all Xero Partner’s to have two-step or two-factor authentification on their logins. And whilst we all rolled our eyes and were a little bugged about the additional step we now needed to complete upon logging in daily to...
Tax Time 2018: Overview of Key Changes
The ATO has released key changes and new measures to be aware of for your 2018 Income Tax Return. As always, if you need any clarification or more information, contact your advisor at our office on (07) 3862 8777. Corporate tax rate – base rate entities ...
Create a Cracker Year for your Business – Forecast for Success
Create a Cracker Year for your Business – Forecast and Plan for Success Creating a Forecast or a Budget is the most crucial thing you should be doing as a business owner over the next month. Running your business without a forecast is like setting...
Breaking News! Do you owe employer Super? Now is the time to ACT! New legislation introducing huge benefits…
Breaking News! Do you owe employer Super? Now is the time to ACT! New legislation introducing huge benefits… These benefits will mean huge savings in reduced penalties and tax savings for businesses. We are very excited by the government introducing new...
Matched Funding of $5,000 for Business Growth – Qld Govt Grant!
Matched funding of $5,000 available from the Small Business Entrepreneurial Program! One of the oldest adages in existence is you can’t get something for nothing. But what if the Qld Govt is willing to inject $5,000ex GST into your business to help with...
2018 Federal Budget – Key points for you!
2018 Federal Budget Release - Key points for YOU! Please see below a quick and easy run through of changes that might affect you in regards to; Personal Income Tax GST Business Farmers & Regional/Rural Aussies Superannuation Personal Income Tax...
ALERT: ATO Small Business Superannuation Clearing House
ALERT: ATO Small Business Superannuation Clearing House Originally published by Rochdale Accounting & Advisory. IMPORTANT RECENT CHANGES – ATO Small Business Superannuation Clearing House! Are you using the ATO Small Business Superannuation Clearing House...
Tax Minimisation and Planning
Tax Minimisation & Planning. Strategies to Minimise your Business Tax. Remove those nasty surprises that come at Tax Time and take action NOW! Investing in Tax Planning can save you significant time and money. And that is why it is one of the most...