Free Financial Health Check

Planning a Staff Christmas Party? How to avoid The Christmas Party Tax!

The Christmas Party Tax is a real Grinch, but ignoring it could land you owing even more money! This is a quick guide on how to factor in (or what to avoid) when it comes to FBT on your staff Christmas Party this festive season. 


Manufacturing Grant, SMSF Scrutiny and Rental Property Expenses | Monthly Snapshot

What you need to know in October 2019! Find out about our upcoming events, and funding opportunities and focus areas for the ATO. 


The Real Impact of Low Interest Rates

Wealth economist Emmanuel Calligeris explores the impact of interest rates dropping towards zero.


The ATO is tracking your foreign income

Don't assume that just because your foreign income has already been taxed overseas or qualifies for an exemption overseas that it is not also taxable in Australia! Make sure you're reporting any overseas income correctly! 


Rental property expenses - what you can and can’t claim

It’s not uncommon for landlords to be confused about what they can and can’t claim for their rental properties. What often seems to make perfect sense in the real world does not always make sense for the ATO.


Tax return for low income earners - when do you need to lodge one?

There are a lot of common misconceptions about low income and tax returns. There are many reasons why someone under the tax-free threshold may need to lodge a tax return. Make sure you talk with a registered tax agent to make sure you're meeting all your tax obligations. 


Are all your SMSF eggs in one basket?

Investment strategies of SMSFs are under scrutiny from the ATO, who are concerned that “a lack of diversification can expose the SMSF and its members to unnecessary risk if a significant investment fails". 


Cash Payment Restrictions, Free Loan Advice & Weird Tax Deductions | Monthly Snapshot

Your monthly snapshot ahead of Spring 2019. Find out about our upcoming events, and new legislation that could impact you and your business! 


Save your cash flow by reducing debtor days

Barely half of Australian small businesses were cash flow positive in June 2019. Here's one area you can focus on to help stay out of the red. 


Weirdest Tax Deductions for 2018-19

Taking a look at the ATO's list of most unusual claims - including a years worth of children's Lego!


Personal income tax changes: You're NOT automatically entitled to $1,080

The recent income tax cuts that passed through Parliament do not mean everyone automatically gets $1,080 back from the Government as soon as they lodge their income tax return.


What expenses can you claim if you work from home?

A lot of people do some sort of work from home. It might be simply answering emails on the couch or working from home a few days a week. So, what can you claim if you’re putting in extra hours?


Why the Government is banning business cash payments of $10,000 or more

From 1 January 2020, the Government intends to restrict the value of cash payments a business makes or accepts to amounts under $10,000.


Why you MUST make good record-keeping a habit!

Record keeping is a crucial part of any business. In addition to meeting your tax and superannuation obligations, having good records will give you a more accurate picture of your business to help you understand how you are doing, so you can spot potential problems sooner rather than later.


Why it's so important to check your myGov inbox regularly

Once you register for a myGov Account and link it to the ATO, you will receive important notices to your myGov Inbox. If you don't check it regularly, you could end up with late payments and demands! 


Avoid penalties for over-claiming on laundry expenses

The ATO has warned they are closely reviewing claims for work-related clothing and laundry expenses. 


Super, insurance and exit fees: changes from 1 July 2019

From 1 July 2019, new laws prevent superannuation funds from eroding member balances with unwanted or unnecessary insurance and exit fees. Plus, inactive accounts with low balances will be moved to the ATO to try and unite the unclaimed super with its owner.


How to successfully integrate the new Single Touch Payroll system into your business

The STP system is now mandatory for (basically) all businesses with employees! Avoid headaches and make sure you have everything running like a well-oiled machine! 


Who has your personal data, and are they keeping it safe?

Regardless of whether you're engaging an accountant or bookkeeper or a hair stylist - if a business needs to store your personal information (email address and phone number included), make sure they are doing everything they can to protect your information!


Victorian State Tax Changes

What you need to know about the impending changes to land tax, payroll tax and land valuation in Victoria. 


Year End Tax Strategies for Individuals and Business Owners

We've put together a tax planning guide for both individuals and business owners. It includes updates on tax rates, general year-end strategies, changes to superannuation, and areas of focus for the ATO.


Super fund members risk losing life insurance cover

From July 1 2019, certain super fund members' default life insurance will be cancelled if their superannuation accounts are inactive.


How to prepare for a visit from the ATO

The ATO is actively targeting geographic areas for special visits as part of a nationwide crackdown on the black economy. The plan on visiting over 10,000 businesses in the 2020 Financial Year. It's a scary thought, especially if you don't know what to expect. 


The countdown to 30 June is on! What that means for you...

Our June newsletter covers all the checklists and updates you need in your life as EOFY closes in! 


Are you at risk of an ATO audit?

A consistent theme this tax time is over-claiming and under reporting. The ATO are getting more sophisticated with data matching, and taxpayers can expect greater scrutiny where their claims are more than what is expected. We take a look at the key issues for you, your business and your SMSF.


Instant asset write-off: the good, the bad and the confusing!

The instant asset write-off threshold for businesses has changed several times in recent months. This means that different rules apply depending on when you purchased an asset.


The EOFY checklist you need in your life right now!

As always, the months have flown by, and we’re already nearing the end of financial year.  Here’s a handy checklist to run through to make sure you’re all up to speed as June 30 closes in.


How to make sure you can actually afford to retire

Retirement planning should never be an afterthought, it plays too vital a role in your life. If you have a specific retirement age in mind, it's never too early to start working towards it! . 


Make your EOFY easier!

This month we're focusing on making your life as easy as possible in the lead up to the new financial year. 


What to do when you're in debt to the ATO

Dealing with the Australian Tax Office is a very common part of our job. While it does come with challenges, it brings so many benefits to our clients that wouldn’t be easily accessible if they were to try to tackle the ATO on their own.



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