RBizz Solutions Corporate Accounting & Advisory
RBizz Solutions Corporate Accounting & Advisory
One-Stop CFO Accountants Raising Businesses Globally

Accounting

Blog tagged as Accounting

Review your business expenses – and save
Need to cut your business expenses? We’ll review your current costs, find the expenses that could be cut, and will provide a proactive spend management programme to reduce your spending.
RBizz Team
03/02/2024 05:10 PM - Comment(s)
Changes proposed for DGR status and charitable giving rules
The Productivity Commission released a draft report reviewing philanthropic giving in Australia and recommending various reforms
RBizz Team
19/01/2024 02:34 PM - Comment(s)
Payroll tax updates for medical practices
Given the high risk of payroll tax audits across the medical and allied health industry, organisations must understand and adapt to the changing payroll tax landscape.
RBizz Team
28/11/2023 04:04 PM - Comment(s)
Indentify the relevant depreciating asset - ATO's guidance on composite items
The ATO released draft TR 2023/D2 which provides guidance on whether an asset that is made up of a number of parts or components (composite item) is itself a depreciating asset, or whether one or more of its components are separate depreciating assets.
RBizz Team
16/11/2023 04:05 PM - Comment(s)
The ATO agent nomination process
Wondering about the ATO agent nomination process? If you are an existing client, you may not need to do anything. If you are a new client we'll send you information about the steps required to link to us.
RBizz Team
30/10/2023 04:15 PM - Comment(s)
Outstanding tax debts? ATO warns about disclosure to CRAs
The ATO is warning businesses to engage with their tax and super obligations to avoid having their debts disclosed to credit reporting agencies (CRAs).
RBizz Team
18/10/2023 03:26 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)
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)
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)
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)
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)
New Rules for Working from Home Expenses
Working from home? Are you claiming your expenses on your tax return? There are 2 methods available to calculate your WFH claim.
RBizz Team
17/04/2023 02:06 PM - Comment(s)
ATO scrutiny on family trust and s 100A arrangements
The ATO has finalised a major tax ruling about when distributions from family trusts may be caught by anti-avoidance tax laws. Make sure you are doing the right thing now and in the future.
RBizz Team
07/02/2023 05:42 PM - Comment(s)
Paid Family and Domestic Violence Leave – New Entitlement Rules
As of 1st Feb, Paid Family and Domestic Violence Leave is a paid leave entitlement for employees of larger employers, and from 1 Aug 23 for employees of small employers. Talk to us to plan for changes to payroll provisions and costs.
RBizz Team
03/02/2023 03:30 PM - Comment(s)
Sharing economy receipts now reportable directly to ATO
Operators of sharing economy platforms now required to report transactions to the ATO from 1 July 2023. If you operate in these platforms, such as ride share or short-term accommodation, make sure this information comes to us for your tax return.
RBizz Team
24/01/2023 04:53 PM - Comment(s)
How To Start A New Business In Retail Industry In Australia
Starting a new business in the retail industry in Australia can be an exciting and challenging endeavor. The retail industry in Australia is one of the most competitive in the world, and it's essential to have a well-thought-out plan in place before launching your business.
RBizz Team
12/01/2023 12:08 PM - Comment(s)
What is inventory accounting? - And why it's important
Tracking stock levels, costs and profit on every product you sell can get pretty complex – no wonder so many businesses have a fuzzy understanding of their inventory. But inventory accounting is too important to ignore. We can help.
RBizz Team
26/12/2022 04:40 PM - Comment(s)
Sharing economy reporting system to be implemented
Operators of sharing economy platforms will be required to report transactional information to the ATO from 1 July 2023. If you are operating in these platforms, make sure your information comes to us when we complete your tax return.
RBizz Team
22/12/2022 04:50 PM - Comment(s)