EOFY 24/25 will be a busy time for our firm, and the end of the financial year is a critical time for Australian businesses to review, strategise, and comply. In our latest edition, we provide you with a quick guide […]
EOFY 2024/25 Guide for Australian Businesses Read More »
As AI tools like ChatGPT grow in popularity, more taxpayers are turning to them for tax advice and compliance guidance. However, experts warn that AI-generated tax information may be inaccurate, outdated, and therefore dangerous, putting users at risk of steep
Why Relying on ChatGPT for Tax Advice Could Be Risky Read More »
The 2025 Federal Budget has reignited discussions around Division 296, a controversial tax measure targeting high superannuation balances. According to a recent AccountantsDaily article, the government is pushing forward with this reform, which could have significant implications for business owners, high-income earners,
What the Return of Division 296 Means for Australian Businesses Read More »
Running a business in Australia comes with many responsibilities, and one of the most important is managing Goods and Services Tax (GST). Understanding how to calculate and report GST is essential to staying compliant with the Australian Taxation Office (ATO)
How to Calculate & Report GST for Your Business Read More »
When you think of accounting and marketing, they might seem like two completely different worlds. One is all about numbers, spreadsheets, and financial precision, while the other focuses on creativity, branding, and customer engagement. But here’s the thing: these
Why Accounting and Marketing Go Together Read More »
Running a small or medium-sized business involves juggling numerous responsibilities—from managing daily operations to focusing on long-term growth. Accounting is one of the most critical tasks, yet it can consume a significant amount of time and resources if handled
The Benefits of Outsourcing Your Business’s Accounting Needs Read More »
Understanding IAS and BAS/GST Returns for Small to Medium-Sized Businesses Running a small or medium-sized business (SMB) comes with its share of responsibilities, especially when it comes to managing taxes and ensuring compliance with regulatory requirements. Two key tax
Understanding IAS and BAS/GST Returns for Small to Medium-Sized Businesses Read More »
Looking to extend your annual leave without compromising job security? The Purchased Leave arrangement offered by the Victorian Public Service could be just what you need. Here’s a breakdown of this valuable employee benefit and how it works. How
What is Purchased Leave? Read More »
Understanding Capital Gains Tax (CGT) for Different Business Structures: A Comparison Guide Capital Gains Tax (CGT) can be one of the more complex areas of tax law, especially when trying to understand how it applies to different entities like
Understanding Capital Gains Tax (CGT) for Different Business Structures Read More »
Understanding the ATO Superannuation Guarantee Charge (SGC) The Australian Taxation Office (ATO) oversees the administration of superannuation guarantee (SG) contributions, ensuring employers comply with their legal obligations. When employers fail to meet these obligations, they may incur the Superannuation Guarantee
Super Guarantee charges (SGC) Specialist Accountant Read More »
GST, or Goods and Services Tax, applies to various aspects of our lives, including residential property transactions. Whether you’re buying, selling, or renting a home, understanding GST implications is crucial. In this guide, we’ll break down everything you need to
What Is GST on Residential Property? Everything You Need to Know Read More »
The margin scheme is essential in property dealings, specifically for businesses registered for GST (Goods and Services Tax). This scheme offers a method to calculate GST on property sales based on the ‘margin’ between the selling price and the purchase price or
What is Margin Scheme- Understanding Eligibility Criteria in Property Sales Read More »
You’re a small business owner trying to get a handle on your finances. You know you need help with your books and taxes but need help figuring out where to turn. Should you hire a tax accountant or a bookkeeper?
Tax Accountant vs. Bookkeeper: Understanding the Key Differences and Roles Read More »
As a small business owner, managing every aspect of your business can not only be overwhelming but also time-consuming. One of the critical areas where efficiency can make or break your business is in bookkeeping. Accurate financial records are essential
5 Signs You Need to Outsource Your Bookkeeping Read More »
You just bought a piece of vacant land and wonder how GST applies. Don’t worry, you’re not alone. Many property investors need clarification about GST on vacant land purchases. But it doesn’t have to be complicated with the best accountant Melbourne.
GST on Vacant Land: All You Need to Know Read More »
Bookkeeping may not be the most exhilarating part of running a business, but it’s undoubtedly crucial. For small business owners, effective bookkeeping goes beyond mere compliance and financial record-keeping – it’s a foundational practice that enables informed decision-making, facilitates strategic planning,
A Step-by-Step Guide to Bookkeeping for Small Businesses Read More »
Choosing the right tax accountant is crucial for managing your finances effectively, especially when filing accurate and beneficial tax returns. However, many individuals and businesses fall into common traps that can lead to unnecessary complications, financial loss, or both. ‘
5 Mistakes to Avoid When Choosing a Tax Accountant Read More »
Are you a small business owner pondering over payroll taxes? Well, you’re not alone! Understanding payroll tax is essential if you run a business that employs individuals. In essence, payroll tax is a state-based tax that businesses need to pay
Payroll Tax – What Is It, And When Do I Have to Pay It? Read More »
You work hard day in and day out to keep your business running like a well-oiled machine. However, even the most organised business owners can make mistakes when filing their quarterly business activity statement. Don’t let a simple oversight lead
The complex world of Self Managed Super Funds (SMSFs) can be quite daunting, especially when it comes to investments like property acquisition. One particular area that raises many questions is whether SMSFs can purchase property from a related party. Understanding
Can a Self Managed Super Fund Acquire Property From A Related Party? Read More »
