Federal Budget 2021: What it means for you
Treasurer Josh Frydenberg has released the 2021 Federal Budget and confirmed Australia’s economy is performing more strongly than was expected six months ago. This article has a summary of the “Winners and Losers” of the Budget and we’ve compiled a recap of the key points below. Get in touch with us if you have any […]
COVID-19 Business Support Grants – FAQs
As more of NSW goes into lockdown, many of our clients are reaching out in regards to accessing Covid-19 support grants. The NSW Government has provided some FAQs for tax agents and accountants to share to help you determine your eligibility & assist you with access the relevant support. The Business Support Grants are available […]
How is cryptocurrency taxed in Australia?
One of the most common questions clients are asking us now is: How is my crypto taxed? Many people unfortunately don’t understand that a cryptocurrency is just like any other investment. Whether you’re currently involved in a cryptocurrency like bitcoin, or considering buying a cryptocurrency, it’s important you understand the tax implications before investing. While […]
Capital Gains Tax: What is it and how is it calculated?
A capital gain (or loss) occurs when an asset is sold. The difference between the purchase price and the sale price is the gain or loss. Capital gains tax (CGT) applies to money you have made from selling an eligible asset. Capital gains tax events occur when an asset is sold, or other triggers arise, […]
How Business Owners Can Take Advantage of Tax Loss
For most people, when it comes to dealing with taxes, it can quite literally be taxing. Tax management requires a certain level of focus, expertise and organisational skills. If you are running a business, tax management can become even more complicated. If you are an aspiring entrepreneur, you’ve probably encountered the term ‘tax loss’ more […]
Lodging a Tax Return for Your Business: Why You Need a Professional Tax Accountant
Since we’re approaching the tail end of tax season, we’re sure many of you are starting to feel the stress of having to manage your own finances. This is especially true for businesses as we know how much work needs to be done before the October 31 deadline. Unfortunately, we all know we can’t simply […]
When is a car not a car?
Car-related expenses are among the most commonly claimed tax return deductions in Australia, accounting for approximately 40 per cent of all work-related deductions. However, I still find many clients are confused about what they can and can’t claim when it comes to their vehicles. Most people understand that the car in question must be used […]
5 Hacks for Financial Fulfilment
Having total financial control can give you an amazing sense of freedom. However, it takes a lot of discipline and hard work for you to be able to achieve this. In this article, we’ll share some useful tips that you can start now to live a better financial life. Build multiple sources of income Whether […]
Still Doing Your Own Payroll? Here’s 3 Reasons Why You Should Stop
At face value, it seems like a great idea. If you’re a small business owner with just a few employees, you probably think that hiring a payroll specialist is an expense that you can avoid. You feel that you can handle it yourself. You have the best intentions to keep your staff paid right and […]
