Many are unaware that ATO Withholding Clearance Certificate is issued by the Australian Taxation Office (ATO). The WCC attests to the fact that, for the purposes of taxation, a property seller is an Australian resident. 15% of the purchase price will need to be withheld by the buyer at settlement if the seller is unable […]
Guidelines to ATO Withholding Clearance Certificates for Properties Read More »
Capital Gains Tax (CGT) is a complex area of law, and you must seek professional advice from a business accountant. Note that in some situations, you can defer paying CGT through a CGT rollover. This blog will explain what CGT rollovers are, the types available, and how they can benefit you. What is Capital Gains
CGT Rollover: All the Things You Need to Understand Read More »
Law firms, like many professional service providers, face unique accounting challenges that require specialized expertise. From managing client trust accounts to understanding complex tax regulations, law firms often struggle to stay compliant while focusing on their core legal work. As a Melbourne accountant with extensive experience in legal industry accounting, I’ve identified the common financial
Accounting Challenges Faced by Law Firms Read More »
Finding a reliable financial advisor in Melbourne is crucial to achieving your financial goals, whether it’s for wealth management, retirement planning, or navigating complex tax laws. This guide will walk you through the steps to ensure you choose the best financial advisor to meet your needs. 1. Determine Your Financial Goals Before you start searching
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Breaking up is hard to do. Beyond the emotional and financial turmoil divorce creates, there are a number of issues that need to be resolved. What happens when there is a family company? For couples that have assets tied up in a company, the tax consequences of any settlements paid from the company will need
Divorce, you, and your business Read More »
The Tax Commissioner has successfully argued that more than $1.6m deposited in a couple’s bank account was assessable income, not a gift or a loan from friends. The case of Rusanova and Commissioner of Taxation is enough for a telemovie. The plot features an Australian resident Russian couple ‘gifted’ over $1.6m in unexplained bank deposits,
When is a gift not a gift? Read More »
Navigating the world of business finance can be daunting, but with the right company accountant, Melbourne businesses can thrive. This guide will help you understand the essential role of an accountant and how to find the best fit for your company in the vibrant city of Melbourne. Why Your Business Needs an Accountant Having a
A Guide to Melbourne’s Company Accountant Read More »
Running a business can be challenging without professional help. A qualified accountant can take care of your bookkeeping, tax planning, BAS and financial statements preparation, allowing you to focus on running your business. Here’s a guide to help you select the appropriate right small business accountant for your business. 1. Understand Your Accounting Needs Before
How to Find a Small Business Accountant Read More »
Starting a business is an exhilarating journey filled with opportunities and challenges. For aspiring entrepreneurs, navigating the complexities of launching a successful venture can be daunting. However, with the right guidance and expertise, you can turn your business idea into a thriving reality. In this comprehensive guide, we’ll explore the crucial role of business accountants
Business Accountants Guide in Starting A Business Read More »
Small and Medium Enterprises (SMEs) form the backbone of Melbourne’s bustling economy, driving innovation, creating jobs, and contributing to local communities. However, managing the financial aspects of an SME, especially taxation, can be a daunting task without the right expertise. In this blog post, we’ll delve into the importance of partnering with a specialized tax
Tips for Choosing the Right Tax Accountant for Your SME Read More »
