Blog tagged as Accounting

Want expert help with managing your building and construction industry finances? Get in contact today for a review of your business systems, and let us help you to thrive. Using the right tools for the job always makes things easier.

You’ve sold your business and have the money burning a hole in your pocket. What happens next? We’ve got some great options for your post-exit life to consider.

Christmas Parties and Presents - and Tax!

Are you aware of fringe benefits you are offering at Christmas time?

Employees and the Holiday Season – What You Need to Know

The October 2022 Federal Budget contains measures which may provide you with an ability to earn some extra income without hurting your social security entitlements, to ease cost of living pressures.

If you’re not already using Single Touch Payroll Phase 2 in your payroll software, you may have more time before you have to start using STP 2. Talk to us today to check your payroll systems and software before upgrading to STP Phase 2.

Are you across the recent payroll and employment law updates? We can help check your payroll setup, award provisions, employee agreements, and payroll costing. We can also assess if your software is ready for ATO STP Phase 2 reporting.

Small businesses will get a bonus tax deduction on top of the allowable deduction for training their employees.

The $450 threshold for super eligibility is removed from July 2022. This could impact payroll costs. If you rely on a pool of casual workers who earn less than $450 per month, talk to us. We can help you prepare for the increased cost.

From 1 July 2022, new electric vehicles under the luxury car limit will be exempt from fringe benefits tax. This means that an electric vehicle under $84,916 can be salary packaged for a substantial tax benefit.

The way to calculate a working from home deduction for running expenses has been adjusted from 1 July 2022, with the ATO issuing a new hourly rate and changes to previous years.

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.

Have you thought about the compliance needs of your business? We’ll explain the legal, accounting and tax requirements and how you set the right foundations.

Do you fully understand the impact of your business activities on your cash flow? Your cash flow statement can give you great insight into business operations. Book a session today to examine your financial reports.

Not sure if you’re earning personal services income or conducting a personal services business? Special rules apply to PSI. Talk to us and we’ll check the type of income and ensure you are claiming the maximum allowable deductions and not being overtaxed.

Australia Weekly Digest - 22 September 2021

Australia Weekly Digest - 14 July 2021

Australia Weekly Digest - 9 June 2021

Australia Weekly Digest - 2 June 2021