Blog
Helping you reduce tax, protect your interests, and grow your income as professional business advisors and accountants.
TREATING EMPLOYEES AS CONTRACTORS
The structure of the workforce is transforming, and many business owners are struggling to make sense of the rapid changes. The problem is that regulation, especially from the tax office, will always be a few steps behind changes that are happening in the real world. Sadly, this often means that compliance requirements are not befitting
BUDGET OUTLOOK FOR INDIVIDUALS & FAMILIES
The 2015 federal budget for families made changes for individual taxpayers and families with its focus on improving the economy. Find out what they were. Car expense deductions The Budget has introduced new modernised methods for calculating work-related car expense deductions from the 2015/16 income year. The ’12 per cent of original value method’ and
PROPERTY DAMAGE TAX DEDUCTION: CONSIDERATIONS FOR INVESTORS
There is nothing more tedious for rental property owners than dealing with the tax implications of damaged property. Over the past year, natural disasters have severely impacted areas throughout Australia, leaving rental property owners especially feeling the brunt of these disasters through costly repair bills and loss of rental income. It is important for those
UPCOMING ATO COMPLIANCE TARGETS
Every year, the ATO announces a number of compliance areas that will be subject to additional scrutiny.It always pays to be aware of these focuses, as non-compliance is, more often than not, the result of an honest mistake as opposed to willful deception. Unfortunately, an honest mistake can still cost you dearly in penalties and/or
THE IMPORTANCE OF RECORD KEEPING IN BUSINESS
The End of Financial Year doesn’t need to be a stressful time for businesses. This week, the Taggart & Partners some helping advice on the importance of record keeping in business. Continue reading for more. It is essential for all small businesses to have an effective record keeping system in place. Having your records in
End of Financial Year: Self Managed Super Fund Compliance
Self Managed Super Fund compliance requirements are extremely stringent, and it is important for trustees to be acutely aware of their responsibilities. Of course, we’re here to help you out, but you should always aim to have a robust understanding of your SMSF’s reporting requirements. 3 Self Managed Super Fund Compliance Requirements to Know Withdrawing