Taxation

Tax planning for 2016. It is always best to start your tax planning at the beginning of each financial year.  Finding deductions and limiting income is a minor part of tax planning.  We encourage you to consider strategies that will set you up for long term tax advantages with the bonus of Asset protection. The…

  Employees and Fringe Benefits Tax Small business owners should consider carefully fringe benefits tax and casual employees. Rostering on casual labour is a fantastic way to ensure full staff coverage for important events or busy times.  Each year the holiday period for businesses is a busy time, one where extra staff is crucial. Employing…

Will you be ready at tax time? Prepare for your income tax return! Over 12 million Australians lodge tax returns each year. According to the Australian taxation office (ATO), on average, over 350,000 people per year are contacted to correct errors. These errors range anywhere from exclusion of secondary job income to bank interest received.…

Recently the Australian Taxation Office (ATO) has recorded an all-time high for tax audits with the main focus being businesses turning over $1-$3 million dollars. Their ability to cross reference tax information declared against Workcover, Centrelink, Department of Transport, superannuation funds, banks and other financial institutions has increased in leaps and bounds. Tax Audit |…

Who is an Australian resident for tax purposes? Are You Living and Working Abroad? Every year thousands of people travel abroad for either an adventure filled working holiday or for the chance to further their careers, however questions around Australian tax laws and what applies to people are often unknown. Australian resident for tax purposes?…

What is the role of a Bookkeeper? Cash flow in a small business is what we live by and accurate record keeping is the key to decision making and future growth plans. So why use a bookkeeper over an accountant, or be your own bookkeeper. After all the role of bookkeeper is to generate data…

What last minute Tax planning can you do? Your best plan is to start your tax planning at the beginning of the year. Finding deductions and limiting income is a minor part of tax planning. Good structure and strategies will set you up for the long term tax advantages with the bonus of Asset protection.…