accounting

Category: accounting

What questions should I be asking my accountant?

When meeting with your accountant, it's important to ask questions that can help you understand your financial situation, make informed decisions, and ensure compliance ...
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Binding death benefit nominations

A 'death benefit nomination' is a legal document that allows a superannuation fund member to specify who should receive their superannuation benefits in the ...
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Avoid penalties with an ATO payment plan

An ATO payment plan allows you to break down your payment into smaller amounts made via instalments and spread over a fixed period. Within ...
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Safeguard your assets with an asset protection plan

Asset protection refers to the strategies used to safeguard wealth and assets from potential risks, such as lawsuits, creditors, and financial downturns. Asset protection ...

Discretionary trusts – ensure trust distribution resolutions are signed before 30th June

Discretionary trusts (often referred to as family trusts) must ensure that by 30th June of each financial year, the trust income is appropriately distributed ...
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Witchcraft tax deductions

Witchcraft is the practice of magical skills, spells, and abilities. In the Netherlands, witchcraft expenses are tax-deductible if they are likely to increase the ...
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Chopstick Tax

In 2006, China introduced a 5% tax on disposable wooden chopsticks to reduce demand for wooden chopsticks to preserve their shrinking forests. This is ...
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The Isle of Man has a tax cap of £120,000

The Isle of Man, also known simply as Mann, is a self-governing crown dependency between England and Northern Ireland in the Irish Sea. Under ...
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Have you heard of the cow flatulence tax?

In 2009 the Danish Tax Commission proposed introducing a cow flatulence tax of $110 per cow per year. For the average farmer with 120 ...
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The UK has a bedroom tax!   

In 2012 the United Kingdom (UK) introduced the bedroom tax to free up public housing (1 million spare bedrooms) and reduce the Government’s public ...