After all the hype about EOFY sales, stocktake, tax time still in the works and everything that comes with it - we’ve all but forgotten that along with the NEW financial year comes many opportunities to trial new approaches, improve on our financial planning and get more organised! We’ve summarised a few ways that you could look to improve on your business finances in the 2017/2018 Financial Year (you may be doing these already - if so, go you!) Keep track of your expenses in [...]
Each new financial year, there will be changes introduced by the Australian Tax Office that affect individuals and businesses in many different ways. Last year, there were a whole host of changes that caused a bit of chaos - thankfully, settled down now and all under control. In the next few weeks however, there are some more changes coming - from July 1 - and while there aren’t many, they will be quite significant for businesses at a certain growth stage. The definition of small [...]
When it starts getting close to the End of the Financial year, many businesses have a freak out about all the expenses they *forgot* to claim throughout the year, didn’t keep receipts for, or perhaps just didn’t pay attention to. We decided to compile a list of five easy deductions that you can still claim - or at least start doing so from the start of the next financial year! Coffee Catchups with Clients If you’re meeting clients or customers and spending money to do [...]
If you're thinking of getting a new accountant and moving on from your existing accountant, rest assured that changing your accountant is a very smooth process. Best of all, we'll do most of the hard work for you. It's as easy as 1 - 2 - 3. Step 1 Choose your new tax accountant. (Us, naturally). Step 2 Get in touch (with an email or an appointment). It is important that you like us. Step 3 Let us break up with your old accountant. We'll do it [...]
Every year - tax time is a rollercoaster of emotions. People get so excited at the prospect of #refunds because well, FREE MONEY!! Yas. (When really it’s kind of a loan and you’re just getting your own money back… but anyways!) Then they remember all the paperwork, and receipts they needed to collect but haven’t, and the mood sobers up again. We’re here to help you avoid the rollercoaster - get prepared earlier and not only will you be seriously stoked with yourself for being [...]
Did you know tax agents go through YEARS of tax law training and then must have several years of experience under their belt before registering with the Tax Practitioners Board as a Tax Agent? Don't get caught up in a scam! Look for the tax agents official registered symbol. We each have our own! The Tax Practitioners Board issues registered tax agents each with their own individual symbol. We use the symbol in all our client correspondence and our advertising, so you can rest assured the tax [...]
The tax year commencing 1 July 2017 brings a list of extensive changes to superannuation. Do the superannuation changes affect you? "Most of the changes to the superannuation (super) system will commence from 1 July 2017. These changes are design to improve the sustainability, flexibility and integrity of Australia's super system. Your super is your future – check to see if you are directly affected, or what these changes may provide for you to maximise your savings for retirement. Detailed information is available to help you [...]
Are YOU in the Hair & Beauty industry? This year, the ATO will be focusing their audits on your tax accounts! No need to stress - We are here to help! We can review your accounts and answer any questions you have to settle your mind about your individual tax situation. Even prepare your returns for you. Contact us for more info.