accounting

Category: accounting

Phasing out written authorisation for agent linking

Agent linking between tax agents and clients is carried out through written authorisation. The ATO will be phasing agent linking out in the wake ...
simple tax returns

Simple tax returns to disappear within 3 to 5 years

Chris Jordan, the Commissioner of Taxation, has advised tax agents that 'if your business model is high-volume, low-margin, simple tax returns, your business will ...
country accountant

The Pros and Cons of a Country Accounting Practice

There are many benefits to moving your accounting practice to the country. Rural accounting also comes with a lot of risk and potential downside, ...
myTax Accountant

Should I use myTax or an accountant?

If you’re an individual with a simple income from an employer and nothing to claim, you may decide to lodge your tax online through ...
prison

Prison! The consequence of failing to lodge tax returns and BAS

A Western Australian doctor, has been sentenced to seven months in jail for failing to lodge 18 income tax returns and business activity statements ...
salary sacrificing

What is salary sacrificing and is it for me?

It sounds like some sort of sacrificial ritual for your paycheck, but don’t worry it’s neither complicated nor sinister. Salary sacrificing is simply asking ...
questions

Top 5 questions to ask your accountant at tax time

Here are the top 5 questions that you should be asking your accountant, tax or business advisor during tax time. Are you a registered ...
vaccine

Not taking a risk can sometimes be the biggest risk

Sometimes, choosing not to take a risk can pose the biggest risk. This rings true with the COVID-19 vaccine in Australia. Many who can’t ...
tiger

The dangers with share buy-backs

Many businesses find operating through a company structure is attractive as the profits are taxed at a flat rate of 26% (if turnover is ...
dog in camping chair

Australians don’t support high taxes

Following successive election losses, Labour has done a complete 180-degree flip on tax. They now support tax cuts for individuals earning up to $200,000 ...