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2018-2019 Tax Review

How The 2018-19 Federal Budget May Affect Your Business

Small businesses around Australia remain relatively unaffected by this year’s Federal Budget. Here is a summary of the primary take-outs that you’ll need to be aware of for this financial year and to assist you in your planning for the 2019-20 financial year. $20,000 asset immediate write-off.   The most beneficial announcement that has some positive flow-on effect for most small businesses, is that the instant asset write-off up to the value of $20,000 has been extended for another financial

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Woman Using Calculator

Five Points About Fringe Benefits Tax You May Need To Consider

It’s time for businesses to lodge their Fringe Benefits Tax (FBT) returns. Here’s what you need to know for your 2017/18 lodgement and how to best prepare for next year’s FBT return. 1. Lower FBT Rate. The good news is that as of March 31st the FBT rate will be lowered from 49% to 47%. As part of the 2015/16 Budget, the Government introduced a temporary repair levy of 2% on individuals whose personal income was $180,000 and above and,

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SMSF changes by Bill Shorten

How Labor’s Proposed Reforms to the Imputation System May Affect Your Self-managed Super Fund

A Self-managed superfund (SMSF) is hard work, but it provides you with freedom and control when it comes to your retirement savings. You’ve paid your taxes throughout your career and are looking forward to luxurious adventures in the work-free decades ahead. However, under Labor’s proposed reforms to the imputation system, a portion of that retirement revenue could be under threat. Labor’s proposed reforms would mean that some self-directed investors who currently claim a cash refund on unused imputation credits will

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Emergency Doctor

How To Grow Your Dental Practice

In order for a dental practice to grow, it needs to focus on how to attract new patients. A goodplace to start is by addressing your marketing ideas and promotions. Here are 5 marketing tipsdesigned to help you grow your dental practice: 1. Provide an offer that tops your competition. Keeping an eye out for new ways to surpass your competition is always a strategic move. Thereare many dental practices out there already, so you should find a way to

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Woman Completing Tax Returns

Checklist: Everything You Need For A Tax Return With Rental Properties

Tax returns have a tendency of sneaking up on you, always leaving you feeling rushed to complete it. Filing taxes all alone can be an overwhelming task; tax returns are notoriously time-consuming and stressful. However, it is vital to your business that you complete these to the best of your ability. Figuring out how to obtain the best outcome from your tax return can also be tricky, but luckily there are a few places that you can start to try

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Why You Need A Bookkeeper In Brisbane

Why You Need a Bookkeeper

Has your accountant ever suggested hiring a bookkeeper to help you manage your business? This shouldn’t catch you off guard. Most people assume that accountants and bookkeepers handle the same job. Of course, they each deal with financial information but their approach differs, and both can offer valuable insights from different viewpoints. Accountants are able to analyse your financial data and give a financial forecast. Key services offered by accountants include issuing your business with profit and loss statements, filing tax

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