It’s not uncommon for business owners to pour their money into a business to get it up and running and to sustain it until it can survive on its own. A recent case highlights the dangers of taking money out of a company without carefully considering the tax implications. A case before the Administrate Appeals …
Getting back what you put in:Loans to get a business started Read More »
From 1 July 2024, the amount you can contribute to super will increase. We show you how to take advantage of the change. The amount you can contribute to superannuation will increase on 1 July 2024 from $27,500 to $30,000 for concessional super contributions and from $110,000 to $120,000 for non-concessional contributions. The contribution caps …
How to take advantage of the 1 July Super Cap Increase Read More »
Late last year, thousands of taxpayers and their agents were advised by the Australian Taxation Office (ATO) that they had an outstanding historical tax debt. The only problem was, many had no idea that the tax debt existed. The ATO can only release a taxpayer from a tax debt in limited situations (e.g., where payment …
The Fringe Benefits Tax year (FBT) ends on 31 March. We explore the problem areas likely to attract the ATO’s attention. Electric vehicles causing sparks In late 2022, the Government introduced a concession that enables employers to provide some electric vehicles to employees without incurring the 47% fringe benefits tax (FBT) on private use. …
In the dynamic world of business, accurate financial management is crucial for long-term success. One of the key aspects often overlooked is business costing. If you’ve been scratching your head wondering why your business costing isn’t adding up, it might be time to turn your attention to the expertise of an accountant, especially in a …
In the fast-paced world of e-commerce, success depends not only on the quality of your products or services but also on the efficiency of your financial management. One key player in this game is an accountant, and when it comes to maximizing your e-commerce store’s potential, having an accountant in Melbourne can make all the …
How an Accountant Can Boost Your Online Business Read More »
In the ever-evolving world of finance, making sensible investment choices is paramount to securing your financial future. As your trusted accountant in Melbourne, we understand the significance of strategic investments. In this blog, we’ll explore the myriad benefits of sensible investing, guiding you through the path to financial prosperity. 1. Building a Solid Financial Foundation …
Accountant Melbourne: The Benefits of Sensible Investing Read More »
Embarking on the journey of buying a business is a thrilling venture, but success hinges on informed decisions and strategic planning. As you step into the dynamic business landscape of Melbourne, your trusted accountant can be your guiding force. Here are five invaluable tips from an Accountant in Melbourne to ensure a seamless and successful …
In the dynamic landscape of business operations, managing Value Added Tax (VAT) returns is a critical aspect that can significantly impact your company’s financial health. While some business owners attempt to navigate the complexities of VAT returns independently, there are distinct advantages to enlisting the expertise of a professional accountant. In this blog, we explore …
Perks of Entrusting Your VAT Returns to an Accountant Read More »
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. …
