Blog tagged as Accounting

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.

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

Working from home? Are you claiming your expenses on your tax return? There are 2 methods available to calculate your WFH claim.

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.

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.

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.

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.

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.

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.

The new 'Secure Jobs, Better Pay' Bill 2022 brings major changes to employment laws. While most of the changes roll out over the next 6-12 months, some take effect now. Talk to us about reviewing your HR documents.

Does your business need to improve its cash position? Poor cashflow is a problem for many businesses, whether you’re a start-up or an established family business. Talk to us about how you can get proactive with cashflow management.

This festive season you may wish to give money to those less fortunate via crowdfunding campaigns. Know the tax implications before you jump in.

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.

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