The Fringe Benefits Tax year (FBT) ends on 31 March. We explore the problem areas likely to attract the ATO’s attention. Electric vehicles causing sparks In late 2022, the Government introduced a concession that enables employers to provide some electric vehicles to employees without incurring the 47% fringe benefits tax (FBT) on private use. […]
The Fringe Benefit Tax traps Read More »
In the dynamic world of business, accurate financial management is crucial for long-term success. One of the key aspects often overlooked is business costing. If you’ve been scratching your head wondering why your business costing isn’t adding up, it might be time to turn your attention to the expertise of an accountant, especially in a
6 Reasons Why Your Business Costing Is Wrong Read More »
In the fast-paced world of e-commerce, success depends not only on the quality of your products or services but also on the efficiency of your financial management. One key player in this game is an accountant, and when it comes to maximizing your e-commerce store’s potential, having an accountant in Melbourne can make all the
How an Accountant Can Boost Your Online Business Read More »
In the dynamic and ever-evolving landscape of Melbourne’s health and medical industries, financial management plays a crucial role in ensuring the continued delivery of quality care. Accountants specializing in the health and medical sectors in Melbourne are integral to the success of healthcare providers, medical practitioners, and related businesses. This blog explores the unique challenges
The Role of Accountant in Melbourne’s Health Industries Read More »
In the ever-evolving world of finance, making sensible investment choices is paramount to securing your financial future. As your trusted accountant in Melbourne, we understand the significance of strategic investments. In this blog, we’ll explore the myriad benefits of sensible investing, guiding you through the path to financial prosperity. 1. Building a Solid Financial Foundation
Accountant Melbourne: The Benefits of Sensible Investing Read More »
Embarking on the journey of buying a business is a thrilling venture, but success hinges on informed decisions and strategic planning. As you step into the dynamic business landscape of Melbourne, your trusted accountant can be your guiding force. Here are five invaluable tips from an Accountant in Melbourne to ensure a seamless and successful
Accountant Melbourne Tips in Buying a Business Read More »
In the dynamic landscape of business operations, managing Value Added Tax (VAT) returns is a critical aspect that can significantly impact your company’s financial health. While some business owners attempt to navigate the complexities of VAT returns independently, there are distinct advantages to enlisting the expertise of a professional accountant. In this blog, we explore
Perks of Entrusting Your VAT Returns to an Accountant Read More »
Welcome to the fascinating world of accounting, where numbers come alive, revealing the financial health and heartbeat of a business. In this blog, we’ll take you on a journey behind the scenes to unravel the magic that accountants bring to the table and explore the pivotal role they play in the success of any business.
What does an Accountant do for a Business? Read More »
A recent case before the Administrative Appeals Tribunal (AAT) highlights the importance of ensuring that the evidence supports the tax position you are taking. The case involves heritage farmland originally purchased for $1.6m that sold 7 years later for $4.25m and the GST debt that the ATO is now pursuing on the sale. In 2013,
The problem when the evidence doesn’t match what the taxpayer tells the ATO Read More »
Australians love property and the lure of a 15% preferential tax rate on income during the accumulation phase, and potentially no tax during retirement, is a strong incentive for many SMSF trustees to dream of large returns from property development. We look at the pros, cons, and problems that often occur. An SMSF can invest
Can my SMSF invest inproperty development? Read More »
