Category: accounting
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 ...
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 ...
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 ...
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 ...
How to post on your Facebook business page
Facebook has over 3 billion monthly active users. 12 million in Australia. 2.2 billion use it through their phone. Women between 18 – 24 ...
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 ...
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 ...
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 ...
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 ...
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 ...