Use BAS as a Business Health Check
As a small business owner, do you consider your quarterly BAS to be a necessary evil? Or do you see it as a chance to pause and check the financial temperature of your business? Each quarter almost every small business throughout Australia has to calculate and lodge a Business Activity Statement (or BAS). Many small […]
Important Decisions for Downsizers
Selling the family home is one of the major economic and personal decisions faced by Australians as they approach retirement. There are many potential advantages, but the trade-off can be the unintended or underestimated emotional and financial costs of the move. Motivations to move can be many. But so can the potential traps.
Xero – Be sure to update your automatic super registration
Xero are improving automatic superannuation to make it easier for you to manage, track and pay your contributions. As a result they are moving to a new superannuation payments clearing house. To make sure you can process super payments without any worries, you’ll need to update your superannuation registration.
Advice Priorities in Turbulent Personal Times
Divorce and separation is a traumatic time for anyone who needs to deal with this type of life challenge. Coming to grips with the emotional side of the event is significant, but, at the same time, there needs to be some clear thinking applied to the financial side of your life. The following is a […]
15 Key Questions to ask when contemplating a business purchase
As tax and accounting professionals, we are often amongst the first to know when a client is considering a business purchase. Generally there has been some research done, but “Where To From Here?” is the key question for most potential business owners. Helping people through a successful business purchase is one of the most satisfying […]
Deductible work clothes guidelines refreshed
Many workplaces opt to have a work uniform that is smart and appropriate for their industry. A work uniform is a way of reinforcing your corporate branding and is, in many cases, often popular with employees for its ease and tax benefits.
Employer obligations should be taken seriously
As each new tax year ticks over, all small businesses should review that they are meeting their obligations as an employer. Getting employee entitlements wrong is one area where the ATO takes a very dim view of mistakes. The ATO recently estimated that there was $17 billion of super missing in taxpayer accounts over a […]
ATO re-issues warning on work related car expenses
The ATO has again highlighted to taxpayers that it is paying close attention to claims for work-related car expenses. Assistant Commissioner Kath Anderson said “standard” claims were a common error.
Forewarned is forearmed – the Tax Commissioner’s 2017 hit list
Like all major government institutions, the Australian Taxation Office (ATO) is not afraid to strategically use the media to deliver key messages. Last month, in a speech to the National Press Club in Canberra, Tax Commissioner Chris Jordan delivered what has been described as a “shot across the bows” to Australian taxpayers, which included hit […]
Cyber Event – A Digital Fire Waiting to Happen
Most businesses purchase fire insurance because they are aware of just how devastating and disruptive this type of event can be. A cyber attack on your data, however, can be every bit as devastating as a fire and recent statistics are alarming. Government statistics indicate that a staggering 693,053 businesses have experienced a cybercrime event […]
