The recent changes to the Instant Asset Write-off have complicated things for this financial year but for many clients, the changes will provide a great addition to their tax planning strategy. Here are the new rules: Businesses with a turnover less than $50 million are now included in the Instant Asset Write-off rules. Assets purchased […]
The end of financial year is only a few months away and as specialist SME accountants, we have begun discussing tax planning strategies with our clients. The ATO is also getting busy, recently releasing their latest industry benchmark data. This data is extremely useful for any small business owner as it allows you to gauge […]
We all have those big bills that seem to come around quickly, like our energy bills, car rego and insurance, private school fees etc. For many of us, it doesn’t matter how well we think we’re going, there will always be those bills that seem harder to budget for. So here’s a great savings tip […]
We are so excited for our client and friend, Jen Harwood. Earlier this month, in front of almost 1000 people, she won the 2019 Australian Small Business Champion Award for New Business. A single mum and highly accomplished business woman, Jen decided there had to be a better way to brush and style her daughter’s […]
From 1 July 2018, anyone purchasing a new residential property or subdivision is required to pay the GST component directly to the ATO as part of the settlement. These changes have had some teething problems. To help clarify things, the ATO has set out a 5 step process that must be followed. Here are the […]
Since 1 July 2018, the ‘Contributing the proceeds of downsizing into superannuation” reform came into effect. In essence, it means if you have sold or are selling your home after that date AND meet the eligibility requirements, you may be able to contribute up to $300,000 into your superannuation fund from the proceeds of the […]
🎄 Aussies will collectively spend $25 billion this Christmas – that’s an average of $1325 per person 🎄 Over half of us will have a Christmas ham – it’s our most popular Christmas food 🎄 Unlike our US cousins, turkey is our least popular choice with around 30% of households enjoying it this Christmas 🎄 Our food bill will […]
Getting financially fit doesn’t have to be hard slog. Follow these tips to get on the fast track to financial wellbeing. Review your commitments: money can easily trickle away on things we don’t need or value. Reviewing things like mobile phone plans, insurance policies, loan rates and utilities means you can compare prices, ask your […]
Superannuation may be a long-term investment strategy but that doesn’t mean you should leave it on a mental back burner. In fact, ignoring your super leaves it at risk of stagnation when it could be cooking up a healthy retirement nest egg. Reviewing your current super strategy doesn’t have to be an overwhelming process and […]