RBizz Team

Blog by RBizz Team

Payday super to change how businesses pay their super

Aiming to provide better retirement outcomes for employees, from 1 July 2026, employers will be required to pay their employees super at the same time as their salary and wages.

RBizz Team

16/10/2023 05:31 PM - Comment(s)

ATO finalises guidance on the deductibility of costs relating to holding vacant land

The ATO has finalised the taxation ruling TR 2023/3, which provides guidance on the deductibility of expenses associated with holding vacant land.

RBizz Team

29/09/2023 03:36 PM - Comment(s)

Your business may be selected for ATO’s PAYG withholding compliance test

A lodgment reminder pilot program has been announced by the ATO, for 3,000 randomly selected employers - PAYG withholding amounts reported by them via STP will automatically become payable as at due date even if no activity statement is lodged.

RBizz Team

25/09/2023 06:43 PM - Comment(s)

Small Business Instant Asset Write-Off This Financial Year

Are you looking to purchase assets for your business? Eligible businesses can spend up to $20k per asset and immediately claim the tax deduction and GST. Talk to us about the best strategy for purchasing business assets.

RBizz Team

30/08/2023 01:37 PM - Comment(s)

Small business instant asset write-off - deduction threshold set to increase

A bill proposing to increase the instant asset write off threshold in Div 328 of ITAA 1997 from $1,000 to $20,000 has been introduced in the Parliament and awaits approval.

RBizz Team

22/08/2023 10:45 PM - Comment(s)

Principal purpose of a commercial vehicle to determine application of Luxury car tax

The ATO has finalised the luxury car tax (LCT) determination LCTD 2023/1 which provides guidance on determining the principal purpose of a commercial vehicle for LCT purposes.

RBizz Team

14/08/2023 02:00 PM - Comment(s)

Claiming your bonus deduction for technology investment in the 2022–23 tax return

The small business technology investment boost wrapped up on 30 June 2023. For your 2022–23 tax return, we will be working with you to ensure you get the full bonus deduction that you are entitled to. Work through your next steps here.

RBizz Team

18/07/2023 02:13 PM - Comment(s)

Top 10 Tax Saving Tips for Salaried Aussies

Maximize your tax refund! Get the top 10 tax saving tips for salaried Australians. Learn how to implement effective strategies & take advantage of deductions & credits!

RBizz Team

03/07/2023 01:53 PM - Comment(s)

Navigating the Tax Maze: Compliance Challenges for Australian Medical Practices

Australian medical practices face tax compliance risks including misclassifying employees, incorrectly reporting fringe benefits, income tax complexities, GST liabilities, and inadequate superannuation contributions. The ATO Professional Firms Guidelines govern professional profit distribution.

RBizz Team

23/06/2023 05:34 PM - Comment(s)

Fringe Benefits Tax and Business

Do you offer your employees benefits in addition to salary and wages? If so, you may need to report FBT. Fringe benefits can help employees reduce their taxable income but you need to take care of the admin. Get in contact to learn more.

RBizz Team

20/06/2023 05:06 PM - Comment(s)

Avoiding Compliance Issues with the ATO: Common Mistakes for Doctors Running Businesses through Companies or Trusts

Discover common compliance issues faced by doctors running businesses through companies or trusts and learn how to avoid them. Stay compliant with the ATO to ensure smooth operations and financial success.

RBizz Team

20/06/2023 03:38 PM - Comment(s)

5 challenges for small business - and how to beat them!

Want to know how to beat the most common business challenges? We’ve highlighted five common challenges and the simple ways to overcome them.

RBizz Team

18/06/2023 04:12 PM - Comment(s)

Prepare for Finalising Single Touch Payroll

Prepare now for finalising STP payroll data by 14 July. Book a time with us today to check essential employee information, verify the numbers and confirm payroll categories are linked to the correct reporting fields before lodging with the ATO.

RBizz Team

15/06/2023 04:01 PM - Comment(s)

Upcoming changes to NALI provisions

Recent updates have been announced to the non-arm's length income (NALI) provisions applying to SMSFs.

RBizz Team

12/06/2023 04:31 PM - Comment(s)

Which business expenses can you claim against tax?

Want to cut your business costs? We’ve highlighted the business expenses that can (and cannot) be claimed against your ATO tax bill.

RBizz Team

08/06/2023 04:23 PM - Comment(s)

Get set for a minimum wage increase

Get set for a minimum wage increase effective July 2023

RBizz Team

05/06/2023 03:18 PM - Comment(s)

Lump sum payment in arrears to be exempt from Medicare levy

Lump sum payments in arrears may get an exemption from Medicare levy in limited situations.

RBizz Team

04/06/2023 05:02 PM - Comment(s)

Temporary full expensing is due to end soon – your tax deduction guide

As the end of the financial year approaches, the temporary full expensing rules will be coming to an end. Considering this, we explore the options that are now available for small and medium businesses to optimise their tax deductions.

RBizz Team

25/05/2023 05:41 PM - Comment(s)

Tax changes for build-to-rent accommodation

Investors in build-to-rent accommodation will benefit from an increase to the capital works deduction from 9 May 2023. Call us if you want to find out more.

RBizz Team

22/05/2023 04:55 PM - Comment(s)

Keeping your business cash liquid – the difference between cashflow and profit

Do you know the difference between profits and cash flow? We’ll help you understand why cash is king and how to improve your cash flow management AND profitability

RBizz Team

16/05/2023 03:18 PM - Comment(s)

Chartered Accountants Australia and New Zealand

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What do our happy customers say about us?

Success Stories

I experienced a sea change in the approach and results of RBizz Solutions when we moved from previous accountant. We have outsourced all accounting functions of our medical practice to RBizz Solutions who manage them very efficiently. I found them approachable, experienced, professional and above all supportive. Their industry knowledge is commendable. In many instances I observed their practices technically advance and systems driven. I highly recommend them to other medical practices and doctors.

RBizz Solutions handled restructuring of our medical practice business very innovatively, efficiently and accurately. They professionally planned and executed all accounting and compliance processes. I found them responsive, proactive and caring. Their systems are advanced, established and efficient in producing meaningful reports. They highlight current and possible challenges in regular discussions and advise in an easy to understand manner. I am confident tin recommending their business accounting serviced to other businesses.

The approach of RBizz Solutions towards understanding the needs of clients and offering solutions which are fresh, practical and long-lasting is really commendable. I experienced them going all the way to find solutions which are not common. I availed their taxation services for our professional services business and myself. I definitely recommend them to all business and non-business clients.

For small businesses like us, RBizz Solutions have all the right knowledge, experience and tools for a very timely and authentic support. We have found them very friendly and approachable all the time. They take extra care in giving their best advice. The best part is, they keep client's benefit and satisfaction at the top. We highly recommend their services to other businesses.

We availed CFO Services of RBizz Solutions for our young pharmaceuticals business in setting-up financial management processes, reports and decision-making tools. I am impressed with their experience in easing the administrative, governance and compliance challenges start-ups generally face. They have very organized approach to their work. I sincerely appreciate and recommend their services.

In setting-up new company and designing a business structure appropriate to my industry, I took help of RBizz Solutions. Their knowledge and experience on start-ups is deep and futuristic. They advised me on certain aspects which a business must be clear for its long-term stability and growth. With great confidence in their services I will recommend them to new and established businesses.

Rbizz solutions assisted us in organizing our operations by setting-up new processes. With new processes all the instances of administrative lapses have been arrested. In short period of time the efficiency of our business processes has increased tremendously and it has also helped in preparing the performance reports in no time. We would recommend their services to other businesses who are looking for assistance in establishing seamless operations.

RBizz Solutions helped me in designing and setting-up billing, collection, accounting and reporting processes for my business in IT services. Their approach is very innovative. They focus on simple but advance solutions. Their knowledge of integration of systems is impressive. I am significantly saving my time and energy and being able to focus more on my core business. I am happy to recommend their services to any small business owner.