Understanding IAS and BAS/GST Returns for Small to Medium-Sized Businesses Running a small or medium-sized business (SMB) comes with its share of responsibilities, especially when it comes to managing taxes and ensuring compliance with regulatory requirements. Two key tax […]
Understanding IAS and BAS/GST Returns for Small to Medium-Sized Businesses Read More »
Understanding Capital Gains Tax (CGT) for Different Business Structures: A Comparison Guide Capital Gains Tax (CGT) can be one of the more complex areas of tax law, especially when trying to understand how it applies to different entities like
Understanding Capital Gains Tax (CGT) for Different Business Structures Read More »
Understanding the ATO Superannuation Guarantee Charge (SGC) The Australian Taxation Office (ATO) oversees the administration of superannuation guarantee (SG) contributions, ensuring employers comply with their legal obligations. When employers fail to meet these obligations, they may incur the Superannuation Guarantee
Super Guarantee charges (SGC) Specialist Accountant Read More »
GST, or Goods and Services Tax, applies to various aspects of our lives, including residential property transactions. Whether you’re buying, selling, or renting a home, understanding GST implications is crucial. In this guide, we’ll break down everything you need to
What Is GST on Residential Property? Everything You Need to Know Read More »
The margin scheme is essential in property dealings, specifically for businesses registered for GST (Goods and Services Tax). This scheme offers a method to calculate GST on property sales based on the ‘margin’ between the selling price and the purchase price or
What is Margin Scheme- Understanding Eligibility Criteria in Property Sales Read More »
You’re a small business owner trying to get a handle on your finances. You know you need help with your books and taxes but need help figuring out where to turn. Should you hire a tax accountant or a bookkeeper?
Tax Accountant vs. Bookkeeper: Understanding the Key Differences and Roles Read More »
As a small business owner, managing every aspect of your business can not only be overwhelming but also time-consuming. One of the critical areas where efficiency can make or break your business is in bookkeeping. Accurate financial records are essential
5 Signs You Need to Outsource Your Bookkeeping Read More »
You just bought a piece of vacant land and wonder how GST applies. Don’t worry, you’re not alone. Many property investors need clarification about GST on vacant land purchases. But it doesn’t have to be complicated with the best accountant Melbourne.
GST on Vacant Land: All You Need to Know Read More »
Bookkeeping may not be the most exhilarating part of running a business, but it’s undoubtedly crucial. For small business owners, effective bookkeeping goes beyond mere compliance and financial record-keeping – it’s a foundational practice that enables informed decision-making, facilitates strategic planning,
A Step-by-Step Guide to Bookkeeping for Small Businesses Read More »
Choosing the right tax accountant is crucial for managing your finances effectively, especially when filing accurate and beneficial tax returns. However, many individuals and businesses fall into common traps that can lead to unnecessary complications, financial loss, or both. ‘
5 Mistakes to Avoid When Choosing a Tax Accountant Read More »
Are you a small business owner pondering over payroll taxes? Well, you’re not alone! Understanding payroll tax is essential if you run a business that employs individuals. In essence, payroll tax is a state-based tax that businesses need to pay
Payroll Tax – What Is It, And When Do I Have to Pay It? Read More »
You work hard day in and day out to keep your business running like a well-oiled machine. However, even the most organised business owners can make mistakes when filing their quarterly business activity statement. Don’t let a simple oversight lead
The complex world of Self Managed Super Funds (SMSFs) can be quite daunting, especially when it comes to investments like property acquisition. One particular area that raises many questions is whether SMSFs can purchase property from a related party. Understanding
Can a Self Managed Super Fund Acquire Property From A Related Party? Read More »
Hey, crypto investors! Have you invested time, energy, and capital into cryptocurrencies, only to face the looming threat of ATO’s crackdown? If not, then in the rapidly evolving world of cryptocurrencies, staying ahead of tax implications is critical for safeguarding
7 Ways to Reduce the ATO’s Crypto Crackdown to Keep Your Profits Read More »
Maintaining accurate business records is essential, especially when dealing with personal services income (PSI). If you’re unsure about PSI regulations, consulting professional small business accountants can provide guidance. It’s important to meticulously track both expenses and income to comprehend the
Small Business Accountant Assistance for Record Keeping for PSI Read More »
In Australia, we have a tax called the Goods and Services Tax (GST) that applies to goods and services. If your business turnover is or expected to be more than $75,000 in a year, you need to register for GST.
Assistance from Melbourne Accountants in Claiming GST Credits Read More »
In response to recent security concerns, the Australian Taxation Office (ATO) has put in place new measures to enhance the safety of online services. Starting from November 13, 2023, businesses with an Australian Business Number (ABN) must select their accountants
How to add Roger Boghani as your accountant (how to link your ABN to tax agent) Read More »
Division 293 tax is a key aspect of Australia’s tax rules, aiming to ensure fairness in the superannuation system, especially for high-income individuals. It’s a way for the government to make sure that wealthier people contribute proportionally more to their
Division 293 Tax: A Super Surcharge for Wealthier Individuals Read More »
The Pay As You Go (PAYG) system is important for individuals and businesses to handle their taxes well. One big part of this system is the PAYG income tax instalment. This is all about making sure that taxpayers can pay
Understanding – PAYG Income Tax Instalment Read More »
Director Identification Number (DIN) The director’s Identification Number (DIN) has become an important component. Similar to a tax file number, it is indispensable for directors across various companies, including those overseeing self-managed superannuation funds (SMSFs). The DIN system aims to
Have You Requested Your Director Identification Number? Read More »
