Category: CPA Professionals

This non-exhaustive checklist of business deductions is designed to provide an easy reference guide to the types of deductions that might be claimed by businesses. (more…)

A stocktake can be an important part of running a business. But does your business need to do a stocktake this financial year? If you buy or sell stock, recent law changes could affect whether you need to do one this income year. (more…)

This checklist contains a general list of general and specific employment-related deductions and should be used as a guide only. The results may vary depending on individual circumstances. (more…)

In the 2015-16 federal budget, the government increased the small business immediate deductibility threshold from $1,000 to $20,000, which was originally due to end at June 30, 2017. (more…)

A not-uncommon conundrum for many SMSF trustees is what to do when the fund is found to have breached the in-house asset rules. There are also some common misconceptions about these regulations that keep resurfacing. (more…)

Statistics supplied by the ATO indicate that most GST refund claims (98% of them according to its data) are processed without any problem, but the ATO also says that every year it will select a small proportion of BAS refunds and temporarily hold onto them to check the accuracy of the information provided. (more…)

Companies with a turnover of up to $50 million a year will receive a tax cut, applicable to this financial year, taking the rate down from 30% to 27.5%. (more…)

In the run up to the end of the FBT year, the ATO reminds employers that a fringe benefit may be provided by another person on behalf of an employer, but may also be provided to another person on behalf of an employee (for example, a relative).

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Putting your money into bricks and mortar has been a traditional stalwart of investing for generations of Australians, and continues to be viewed as a solid place to park spare cash and build wealth in the long term. For many years a lot of us seem to have heeded the quote attributed to Mark Twain: “Buy land, they’re not making it anymore.”  (more…)