partners for life
Accounting
BAS Facts
March 12th, 2015Personalised Business Activity Statements (BAS) are provided by the Australian Taxation Office (ATO) to businesses in order for them to report their taxation obligations such as: goods and services tax (GST), luxury car tax (LCT), fuel tax credits, wine equalisation tax (WET), pay-as-you-go (PAYG) withholding and instalments, fringe benefits tax (FBT) instalments and deferred companyread more
FBT Rate Increases Coming Soon – Take Action!
January 22nd, 2015Effective 1 April 2015, Fringe Benefits Tax will increase from 47% to 49%. In order to prevent individuals who earn more than $180,000 from self-sacrificing into fringe benefits to avoid extra tax, the temporary budget repair levy of another 2% has been imposed. In order to entice the best staff, minimise turnover and increase efficiency,read more
Important Changes to Managing Activity Statements
October 7th, 2014The Australian Taxation Office (ATO) have implemented important changes to the way they manage the delivery of Activity Statements. If you or your registered agent lodges an activity statement on your behalf through an electronic channel, your next activity statement will be available only in electronic format – the ATO will not send a paperread more
Smart End of Year Financial Strategies
March 18th, 2014Pre-Pay Income Protection Premiums and reduce this year's tax If you are employed or self-employed, pre-pay 12 months income protection/salary continuance premiums and bring forward your tax deduction to this financial year. Don’t have Income Protection insurance? At age 40, there is a 48% chance you will have a serious health event ie Death/Disability/Trauma. Weread more
Don’t Pay More Fringe Benefits Tax Than You Must!
January 13th, 2014Yet another FBT year comes to a close on 31 March 2014. Do you provide benefits to employees (including yourself and your spouse)? Not sure about that vehicle just purchased or the prized Ashes tickets you gave to your sales manager? Our experience is that many employers unwittingly provide Fringe Benefits. The ATO has advisedread more
The Buttery Cafe and Homewares, a New Addition to the Cafe Scene in Joondalup
December 3rd, 2013The business opened 5 months ago and is run by Interior Designer, Aynsley Anderson with the help of her Chef-Barista daughter Lisa and IT Guru son Jason, The Buttery Cafe has gone from strength to strength since opening. Arriving from New Zealand two years ago with many successful businesses under their belt, the Andersons struggledread more
Quick Tax Tips
June 21st, 2013With the end of financial year fast approaching, here are some quick tips to help you save time and get more cash into your bank account. 1. Working from home - If you work from home, make sure you keep a diary of your internet usage and the hours you spend working. 2. Donations to aread more
End of Year Tax Planning Checklist
June 21st, 2013Small Business Entity Rules Small Business Entities - the small business entity rules apply to a sole trader, partnership, company or trust which has a group turnover of less than $2M in the previous year, or likely to be less than $2M in the current year. Depreciation Rules - if the asset costs less than $6,500 itread more
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