News & Articles
Whether you’re looking to stay ahead of tax updates, seeking strategic advice to propel your business forward, or exploring financial best practices for your investment property, our curated content is designed to empower and inform. Dive into our comprehensive collection of articles and equip yourself with the knowledge to navigate the financial landscape with confidence.
Small Business Energy Tax Boost: Maximise Your Tax Deductions
If you are a business owner who invested in energy-saving measures during the past financial year, you may qualify for additional tax savings through the Small Business Energy Incentive. Designed for businesses with an annual turnover under $50 million, this...
5 BAS Mistakes Small Businesses Make and How to Correct Them
Accurate Business Activity Statement (BAS) reporting is crucial for your small business. It's not just about meeting regulatory requirements but also ensuring sound financial management. However, navigating BAS requirements can be complex, and errors in reporting can...
Avoid These Common Tax Scams in Australia This 2024
As Australians handle their financial duties, including filing tax returns and meeting various obligations, they face the ongoing threat of tax scams. However, there is a persistent threat of tax scams, as fraudsters continually develop more sophisticated methods to...
Tax Planning Strategies for Small Business Owners
Effective tax planning is crucial for the success and sustainability of your small business. Properly managing your tax obligations can significantly impact your business’s financial health, helping you maximise profits and support growth. Without a solid tax...
Cindy Su Wins Partner of the Year at the 2024 Australian Accounting Awards
We are immensely proud to announce that our managing partner, Cindy Su, has been awarded the prestigious title of Partner of the Year at the recently held 2024 Australian Accounting Awards. This accolade is a testament to Cindy's exceptional leadership, dedication,...
2024-25 NSW Budget: Impact on Property Investors
The recently announced 2024-25 NSW Budget has made headlines due to a dramatic shift from a projected surplus to a $3.6 billion deficit, revealed on Tuesday, June 18th. With the State’s AAA credit rating at risk, the Government is turning to land taxes for quick cash...
2024 ATO Audit Focus: 3 Key Areas
The Australian Taxation Office (ATO) has identified three main areas of focus for this tax season to ensure compliance and accuracy in tax returns. These key areas include work-related expenses, rental property income, and capital gains from cryptocurrency...
Bookkeeping Guide for Hotels and Restaurants
Proper bookkeeping is crucial for your restaurant or hotel's financial health. It's all about keeping track of your money accurately. But it's not just about numbers; it's about following the rules too. The Australian Taxation Office (ATO) has guidelines you need to...
Bookkeeping Best Practices for Small Businesses
What is Bookkeeping? Bookkeeping is the process of recording all the financial transactions of your business in an organised and systematic way. These transactions include sales, purchases, receipts, and payments made by an individual or an organisation. Bookkeeping...
7 Common Bookkeeping Mistakes
Accurate bookkeeping is essential for any business, laying the groundwork for financial stability and compliance with regulations such as those set by the Australian Taxation Office (ATO). Throughout this article, we'll pinpoint common bookkeeping mistakes and provide...
2024 Federal Budget: Tax Reforms, Small Business Support, and Social Initiatives
On 14 May 2024, the Australian Federal Government presented the 2024/25 Federal Budget. This budget outlines a comprehensive plan to strengthen the country's economy and provide more support to its citizens. Announced in a time of changing economic conditions, the...
Ed Chan and Cindy Su Finalists for 2024 Australian Accounting Awards
Edit: We are very proud to announce that Cindy Su has won the highly coveted 2024 Partner of the Year Award. This achievement highlights her exceptional leadership and dedication to the accounting profession. - We are thrilled to announce that our co-founder and...
Tax Tips for Small Business owners
Small business owners often interact with the ATO and their tax agent throughout the year. Tax time provides an added opportunity to ensure your tax affairs are in order, obtain essential tax advice and see if you can improve your tax position. You should speak to you...
Cryptocurrency Regulations are on its way
Australia will create a licencing framework for cryptocurrency exchanges and consider launching a retail central bank digital currency as part of the biggest overhaul of its A$650 billion-a-day ($463 billion) payments industry in a quarter of a century There has been...
Director Identification Number
Company directors need to verify their identity as part of a new director identification number (director ID) requirement. A director ID is a unique identifier that a director will apply for once and keep forever – which will help prevent the use of false or...
Microgrants and JobSaver Update – NSW
Ongoing Support for NSW Businesses | JobSaver and Micro Grants New South Wales businesses will still be able to obtain financial support from the NSW Government as a result of the Covid-19 lockdown but there are important changes to the grants system that business...
NSW Government COVID-19 Support Payments
NSW Government COVID-19 | Lockdown Support Payments The NSW Government is offering 3 types of financial support to businesses across NSW as part of the COVID-19 support package: JobSaver payment COVID-19 micro-business grant COVID-19 business grant. Comparison of the...
Business Tax Planning Tips
While planning of any kind has been challenging over the past 12 months, tax time remains a certainty for all businesses and individuals who are working from despite the easing of Covid-19 restrictions. Tax planning should be a key element of your business and...
Federal Budget 2021 – Business Owners
A number of important measures were announced to more broadly support business taxpayers. These measures will support businesses to invest and grow, remove unintended consequences and reduce compliance costs. Extension of temporary full expensing measure A one year...
Single Touch Payroll Changes
Single Touch Payroll Reporting | ATO changes The Tax Office has laid out some of the major changes to reporting for businesses under Phase 2 of Single Touch Payroll (STP). The federal government said in the 2019–20 budget that Single Touch Payroll would be expanded to...
End of JobKeeper – Undertaking a Business Health Check
On March 29th the JobKeeper scheme, came to an end. JobKeeper represented the largest direct stimulus the federal government provided Australia during the coronavirus pandemic with a total cost of $101billion over the 12-month period the scheme operated. In tandem,...
PPSR – Personal Property Securities Register | Protecting your credit history
What is the PPSR ? The PPSR is a national online register that provides searchable information on security interests held in personal property. Its role is to protect suppliers and lenders when a customer becomes insolvent by clarifying any confusion about ‘apparent...
SME Recovery Loan Scheme | Does your Business Qualify?
SME Recovery Loan Scheme | Does your Business Qualify? The Government’s SME Recovery Loan Scheme is designed to support the economic recovery, and to provide continued assistance, to firms currently on JobKeeper. The Government will work with lenders to ensure that...
What is Management Accounting and Why It Matters
Management accounting is the method of putting together administration reports and accounts to promptly provide precise financial information to business managers so that they can make informed short-term and long-term decisions. It determines, examines, interprets,...
COVID-19 – Post-recession: How house prices will rise in the next 5 years
COVID-19 - Post-recession: How house prices will rise in the next 5 years Real estate investment has proven its resilience once again as prices have risen over the past 12 months and forecasts point to further strengthening, the Property Investment Professionals of...
How to save $17,000 on your mortgage – It’s time to talk to your lender!
Australians who are on older loans & mortgages, are being advised that simply switching to a better rate could see them pocket thousands of dollars over the life of a loan. A report collated by the Australian Competition and Consumer Commission (ACCC) found that,...
A Guide to Stamp Duty and Land Tax
Stamp Duty and Land Tax Calculator We would like to remind all our clients with investment properties about their land tax obligations. It can be very confusing as each state varies in terms of threshold, rate applicable depending on ownership structure and the date...
Are you Thinking about Building a New Investment Property?
Are you thinking about building a new investment property? With the numbers proving that new properties hold the most depreciation deductions, building new is a popular choice. Understanding construction costs can provide a ballpark figure of what to expect when...
This Renovation Tip can Save you Thousands
This renovation tip can save you thousands Renovating an investment property is different to renovating your own home. Whether the renovation is big or small, you will be taking a head over heart approach and doing what will help you improve your return on investment....
Perth Property Outlook 2020
The Perth Property Market Outlook - Update It’s been a unique year for Perth’s property market as WA has navigated the impacts of COVID-19. While garnering national attention in early 2020 when four consecutive months of price growth indicated the progression of...
NSW Discretionary Trusts: Surcharge Land Tax & Purchaser Duty for Foreign Beneficiaries
Recently enacted changes to purchaser duties and land tax arrangements will expand surcharges for trusts which include foreign persons as beneficiaries. Legislation passed to amend the Land Tax Act 1956 (NSW) and the Duties Act 1997 (NSW) provides that if a trust has...
Absentee Owner Surcharges | Duties Act 2000 (Victoria)
Absentee Owner Surcharges | Duties Act 2000 (Victoria) From the 2020 land tax year, an absentee owner surcharge of 2% applies to Victorian land owned by an absentee owner. The surcharge was 1.5% from 1 January 2017 and 0.5% for the 2016 land tax year. The absentee...
Family Guarantee: What Is It and How First Home Buyers Can Use It
Family guarantee or guarantor home loan is a kind of agreement between the borrower and the lender that enables the borrower to get a home loan using the equity in his family's home. It serves as a security for part or for your entire mortgage. Family could be your...
Have you considered setting up a SMSF?
Reasons for setting up an SMSF Most people invest their Superannuation in Retail or Industry Superfunds with their employers making contributions of Super guarantee contributions and sometimes salary sacrifice. Fund managers then make investment selection on behalf of...
Now Is The Right Time To Invest In Property
Should you invest in property this 2020 while there is a pandemic? As people the world over panic and the economy grinds to a terrible halt with Australian property experts painting a grim future for the property market, you most probably have set aside your plans to...
Melbourne House Price Trends At A Time Of COVID-19
Melbourne house prices are proving to be stable even in the midst of the pandemic. But it’s not without rhyme or reason that, while other sectors and even other property markets across Australia have declined, Melbourne house prices are holding. Property market...
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