Blog
Helping you reduce tax, protect your interests, and grow your income as professional business advisors and accountants.
ATO CRACKDOWN ON RENTAL PROPERTY TAX CLAIMS
The ATO is targeting those who rent out their property for a few weeks during the year but claim a full year’s worth of tax deductions. The tax office will be paying close attention to rental property owners, especially those who own a holiday home, who incorrectly claim for initial repairs to recently acquired rental
KEY BUSINESS DRIVERS – PAIN OR PLEASURE? THE CHOICE IS YOURS!
Is your business decision-making motivated by pain or pleasure? In my experience all business decisions are motivated by two main key business drivers – either the pleasure of moving towards something or the pain of moving away from something. What business drivers are driving your business: are you striving to attain a particular goal or
SUPPORTING SMALL BUSINESSES TO IMPLEMENT SUPERSTREAM
If you’re a small business employing 19 or fewer employees, you will no doubt be aware that you need to be using SuperStream no later than 30 June 2016. This follows the October 2015 deadline for employers with 20 or more employees. The ATO (Australian Taxation Office) has been very active in communicating the rollout
SELLING YOUR BUSINESS GST-FREE
Business owners preparing for the sale of their business can take advantage of the “going concern” exemption which allows a business to be sold GST-free. The supply of a going concern requires the seller to provide all things necessary for the continued trading of the enterprise in the foreseeable future. Once a business is considered
MAKE CASH FLOW ONE OF YOUR BUSINESS NEW YEARS RESOLUTIONS
The start of the new year provides ample opportunity for business new years resolutions that help improve a business’ credit management and cash flow conversion cycle. Cash flow was one of the biggest causes of small business failures last year, with around 90 per cent of enterprise insolvencies due to businesses putting their tax debts
WHAT HAPPENS TO YOUR BUSINESS NAME WHEN YOU SELL?
Those who sell their business or transfer part or all of their ownership are required to cancel or transfer their business name. Some instances where you may need to transfer your business name include: if you are selling your business name or it has been sold you are passing your business name onto a friend