accounting

Category: accounting

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 ...
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 ...
car tax

My car and tax, what can I claim as a business owner?

As a business owner, you can deduct the following expenses for a vehicle carrying less than one tonne and fewer than 9 passengers: fuel ...
House

 Property tax reform

The states are asking the Australian federal government to adopt a new property tax system offering flexibility to home buyers. A buyer would be ...
cryptocurrency

Accounting for cryptocurrency transactions for tax purposes

Cryptocurrency is a digital asset in which encryption techniques regulate the generation of units and verify transactions on a blockchain. Cryptocurrencies are usually independent ...
backup

How can a small accounting practice back up their data on a budget?

Backing up your practice data is essential. Loss of data can cause irreparable damage to a small accounting practice.  The rule of thumb is ...
MyTax

The rise of MyTax and the fall of tax agents

In 2013/14, 74.2% of all individual tax returns were prepared by tax agents. Fast forward six years to 2019/20 and that figure had fallen ...
Business man on elephant

Remember Twisted Tax Tales?

Do you remember our Twisted Tax Tales short story competition? You can still read over 150 crazy Twisted Tax Tales stories right here. So ...