News

May – 2019 Practice Update

May – 2019 Practice Update covers following points: Federal Election Called! 2019/20 Budget Update New Industries Entering the Taxable Payments Reporting System Scammers Impersonate ATO phone numbers FBT Issues on the ATO’s Radar FBT: Record-keeping Exemption Threshold FBT: Benchmark Interest Rate Click here for May – 2019 Practice Update

April – 2019 Practice Update

April – 2019 Practice Update covers following points: Continued Focus on the Cash Economy Common Errors with New GST Withholding Rules Latest ATO Benchmarks Released ATO Warning Regarding Annual Leave Loading and OTE Taxpayer Living in Serviced Apartments Overseas Not a Resident Mostly Vacant Property Still an ‘Active’ Asset Click here for April – 2019…

Four Amazing Tips for Cryptocurrency Tax in Australia

The transaction and use of cryptocurrency in Australia are evolving rapidly. If you’ve bought, sold or even traded using cryptocurrency, you have a tax obligation to retain records. Here are a few essential tax tips that you need to consider if you have made a profit by trading in cryptocurrency: 1. Sort out Tax Liabilities…

March – 2019 Practice Update

March – 2019 Practice Update covers following points: Changes to the small business instant asset write-off. Tax scammer alert. Non-complaint payments to workers. What’s new for Australian business. Click here for March – 2019 Practice Update

January/February – 2019 Practice Update

January/February – 2019 Practice Update covers following points: Division 293 assessments. Claims for home office expenses increased. MYEFO report. Taxation of income for an individual’s fame or image. Click here for January/February – 2019 Practice Update

December – 2018 Practice Update

December – 2018 Practice Update covers following points: Company loans to shareholders under review. ATO to send text messages if bank account details incorrect. ATO contact regarding business cars and Fringe Benefits Tax (‘FBT’). External collection agencies to enforce ATO lodgment obligations. ATO data matching and share transactions. Improvements to employee share schemes announced. ATO…

Common Pitfalls Property Investors Should Not Ignore!

Deciding to invest in a property is perhaps one of the most challenging things, especially if you are in the late 20s or early 30s.
The property market has always been volatile, and therefore one needs to analyse different factors and market trends to avoid potential minefields.

November – 2018 Practice Update

November – 2018 Practice Update covers following points:

• Fast-tracking tax cuts for small and medium businesses.
• Proposed expansion of STP to smaller employers.

October – 2018 Practice Update

October – 2018 Practice Update covers following points:

• Increased Scrutiny of Home Office Claims.
• More help for Drought-affected Farmers.

September – 2018 Practice Update

September – 2018 Practice Update covers following points: SG Amnesty Still Pending. The Company Tax Rate Saga. Division 7A Benchmark Interest Rate For 2019. Black Economy Recommendations will Impact Day-to-day business. Crowdfunding Donations to Help Drought-affected Farmers. Click here for September – 2018 Practice Update

Improving Business Cash Flow

A FEW SIMPLE STEPS TO ENSURE POSITIVE CASH FLOW A positive cash flow is the cash flow that you need. It basically means that the amount of cash coming into your business exceeds the cash that is going out as expenses. Maintaining a positive cash flow one of the most important aspect to maintain any...

August – 2018 Practice Update

August – 2018 Practice Update covers following points: Further Company Tax Cuts deferred. ATO Guide to the 5 Most Common Tax Time Mistakes. Single Touch Payroll Update. Cents per Km Deduction Rate for Car Expenses from 1 July 2018. Suburban Scammers Pushing Illegal Early Access to Super. Transacting with Cryptocurrency. Click here for August –...