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Cloud Accounting

Cloud Accounting

Cloud Accounting is dramatically simplifying bookkeeping and accounting. It provides greater efficiency and meaningful information to you when and where you need it.

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Accounting & Tax

Accounting & Tax

Taxation law in Australia is complex and our GST tax system places enormous  pressure on compliance and lodgement deadlines.

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Business Establishment

Business Establishment

Establishing your own business can be a fantastic way to help achieve your goals or creating wealth, flexibility and the ability to undertake the work you want to.

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GST

GST

GST compliance is a burden that many business owners struggle to comply with along with all the other activities in managing their business.

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Land Tax

Land Tax

For many investors Land Tax is becoming a burden where the land tax bills that they are receiving are reducing the incentive of investing in property.

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Latest News & Articles

$20,000 Asset Write Off

In the budget on 12 May 2015, the treasurer announced that small business will be able to immediately claim a tax deduction for assets costing less than $20,000 as opposed to currently being able to write off assets costing less than $1,000.  What does this actually mean for you?

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Before your SMSF buys property …

One of the most exciting things about starting a self-managed superannuation fund (SMSF) is the possibility of buying property.

Property that you purchase in your SMSF can be transferred to you once you reach retirement age or retained in the SMSF where any income it generates will remain tax-free.

There are a lot of advantages to owning property in your SMSF. However, investing your super in property may not necessarily be the right choice for everyone and there are many things to consider before you make this important decision.

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Beware of SCAM refund emails

Good news everyone I am getting a tax refund! But wait … I haven’t lodged my tax return and I actually have to pay tax this year!

Over the past few months I have received quite a few questions from people who have received emails from the ATO advising them they are entitled to a refund, I have even received one myself. (Image: My tax refund email, note the email address where it came from in the picture above!)

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Make the most of transitioning to retirement — Important for people 55 and over.

As of July 1 2014, there have been some changes to the concessional superannuation contributions cap, which is welcome news to the over 55's.

The higher $35,000 concessional superannuation contributions cap, which was previously only available to people over the age of sixty, has now been extended to anyone over the age of fifty. This means that the taxation benefits of the transition-to-retirement scheme just got a little bit more enticing! Read more...

Bad debts for tax purposes

 

It is an unfortunate fact of business life that sometimes you will not be paid in full for work you have done.

When this happens you have incurred a bad debt, and it is a very frustrating experience. The silver lining to this situation is that there are some tax breaks that can come along with a bad debt.

The first thing you have to do is make sure that the debt can be officially considered as bad for tax purposes.

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