Welcome to the fascinating world of accounting, where numbers come alive, revealing the financial health and heartbeat of a business. In this blog, we’ll take you on a journey behind the scenes to unravel the magic that accountants bring to the table and explore the pivotal role they play in the success of any business. …
A recent case before the Administrative Appeals Tribunal (AAT) highlights the importance of ensuring that the evidence supports the tax position you are taking. The case involves heritage farmland originally purchased for $1.6m that sold 7 years later for $4.25m and the GST debt that the ATO is now pursuing on the sale. In 2013, …
The problem when the evidence doesn’t match what the taxpayer tells the ATO Read More »
Australians love property and the lure of a 15% preferential tax rate on income during the accumulation phase, and potentially no tax during retirement, is a strong incentive for many SMSF trustees to dream of large returns from property development. We look at the pros, cons, and problems that often occur. An SMSF can invest …
The personal income tax cuts legislated to commence on 1 July 2024 will be realigned and redistributed under a proposal released by the Federal Government. After much speculation, the Government has announced that they will amend the legislated Stage 3 tax cuts scheduled to commence on 1 July 2024. This will mean that more Australian …
In the fast-paced world of business, maintaining accurate and organized financial records is a non-negotiable task. A well-kept set of books not only ensures compliance with regulations but also provides crucial insights for making informed business decisions. For business accountants, mastering the art of bookkeeping is a key skill. In this blog, we’ll explore some …
The Art of Bookkeeping: Tips for Business Accountant Read More »
Buying your first home is an exciting milestone, but it can also be a daunting process filled with complexities and decisions. As a first-time homebuyer, you’ll want to ensure that you make informed choices that align with your financial goals. In this blog post, we’ll explore key considerations for first-time homebuyers, with a special focus …
Buying your First Home: Business Accountant Insights Read More »
Entrepreneurship is a thrilling journey filled with challenges and triumphs. However, navigating the financial landscape can be a daunting task. Many entrepreneurs, in their quest for success, inadvertently make common financial mistakes that can hinder their business growth. In this blog post, we’ll explore the 10 most common financial mistakes entrepreneurs make and how a …
As the calendar turns another page, businesses worldwide are gearing up for new challenges and opportunities in 2024. Setting ambitious goals is the first step towards success, but the journey requires a well-crafted plan and strategic guidance. In this blog, we will explore actionable steps to help you reach your business goals in 2024, with …
As we step into 2024, the landscape of business taxation is evolving rapidly. From technological advancements to shifting global dynamics, business tax accountants are facing a myriad of challenges and opportunities. In this blog post, we’ll delve into the expectations for business tax accountants in 2024 and explore the key trends that are likely to …
In the dynamic landscape of business, navigating financial challenges is a constant reality. For entrepreneurs and business owners, the prospect of bankruptcy is a looming threat that demands proactive measures. One key strategy that can significantly contribute to financial stability is hiring a business accountant. In this blog post, we will delve into the reasons …
The Crucial Role of a Business Accountant in Avoiding Bankruptcy Read More »
