by Marketing | Mar 17, 2022 | BAS Bookkeeping, Bookkeeping Services, Busienss Strategies, Business Startup, Business Structures, Income Tax - Business, Income Tax - Individuals, Tradies
The building industry will be feeling the consequences of the recent liquidation of large construction companies, Probuild and Condev. Given the potential for other builders to experience financial distress/liquidation, trades and small business operators may well be...
by Marketing | Nov 25, 2021 | Business Startup, Income Tax - Business, Tax Saving Strategy, Trust Setup
New businesses are birthed either from a spontaneous idea, a long-held dream, or meticulous planning. When business income is taxed, the business structure used can impact the amount of tax paid. Example: Helping a client reduce the amount of tax he was paying, I...
by Marketing | Nov 3, 2021 | Uncategorized
A few months ago, we announced that the Director Identification Number (DIN) regime is coming. Well, it has arrived. What is a DIN? A director ID is a unique identifier, like an individual’s tax file number. The purpose is to verify a director’s identity, preventing...
by Marketing | Oct 28, 2021 | BAS Bookkeeping, Business Startup, Employment, Payroll, Superannuation
For many years, employees have been able to choose a fund for employer superannuation guarantee contributions. If the employee failed to exercise that choice, the employer could create a new super fund on their behalf. Over time, employees can end up with multiple...
by Marketing | Aug 3, 2021 | Business Support Grants, COVID-19 Stimulus
The Queensland Government has just announced a grant of $5000 for businesses affected by the current lockdown. Details are as follows: What: $5000 – The Queensland Government will be providing Business Support Grants of $5000 to assist with business expenses and...
by Marketing | Jul 2, 2021 | Directors, Employment, JobKeepr, Single Touch Payroll, Sole Trader, Uncategorized
The ATO recently issued a warning to JobKeeeper recipients about declaring it in their 2021 tax returns. Whether you include JobKeeper directly will depend on how your business was structured: SOLE TRADERS – Sole traders received JobKeeper directly from the...
by Marketing | Jun 11, 2021 | Tax Deductions Checklist, Tax Saving Strategy
Related Posts: Tax Deduction Occupation Checklist Claiming Travel Allowances Claiming Work Clothes, Uniforms, and Overalls Claiming Overtime Meal Allowances Travel Between Work & Home Claiming A Deduction For Superannuation Contributions Claiming Work-Related...
by Marketing | Jun 11, 2021 | Uncategorized
Related Posts: ==> Claiming Work Clothes, Uniforms & Overalls ==> Claiming Travel Expenses ==> Overtime Meal Allowance For long distant truck drivers and workers who travel away from home to perform their work duties, there are certain deductions that...
by Marketing | Jun 1, 2021 | Uncategorized
If you are a motor mechanic, here is a checklist of the tax deductions you may be able to claim on your personal tax return. When Can Motor Mechanics Claim for Car Expenses Our experience with motor mechanics is they often, if not always, use their private car for...
by Marketing | Jun 1, 2021 | Uncategorized
If you work as a Disability Support Care Worker, here is a checklist of tax deductions you may be able to claim on your personal tax return. TAX WARNING: Vaccinations: The ATO’s view is a deduction is not allowable for the cost of vaccinations as a precaution...
