Cash Accounting vs Non-Cash Accounting For Reporting GST
As a general rule, smaller businesses tend to use cash accounting because it is not as complex as non-cash accounting.
Increased Concessional Contributions Cap
Super contributions splitting allows you to transfer concessional contributions to your spouse’s superannuation account.
The Difference Between Income Tax And Instalment Tax
PAYG instalments are prepayments only, and they are cash flow items in your business. They are not the actual result.
10 Tips For Choosing An Investment Property
There are a few crucial things to consider before making the purchase.
Government To Restrict Business Cash Payments
Payments of $10,000 or more will need to be made electronically or by cheque.
FBT And Uber Style Ride Sharing
Does the FBT exemption extend to employees using Uber for travel?
Crackdown On Illegal Early Release Of Super
The tax office’s risk models have recently identified a variety of funds which may be subject to early releases.
How Much Can You Claim On Your 2019 Return?
It’s tax time yet again, and many Australians are wondering what areas are best to make their claims.
The Tax Time Crackdown On SMEs
The tax office are continually warning small businesses of their sophisticated data matching and analysis tools which are pointing out all dodgy lodgements.
New Businesses Required To Lodge TPAR
Businesses that provide cleaning or courier services will now need to lodge a Taxable Payments Annual Report (TPAR).
Main Residence Safe Harbour When Selling An Inherited Property
In some cases, a deceased estate or beneficiary can access full exemption on sale of an inherited dwelling if it is sold within 2 years.
Why You Shouldn’t Have A 50/50 Split In Your Trading Company
Running a small growing business under a trading company is not ideal in our eyes. It’s not the end of the world if it’s structured correctly.
Be Careful With Claiming Laundry Expenses
The ATO is airing the ‘dirty laundry’ on work-related clothing and laundry expenses.