In today’s workplace, businesses often invest in creating a supportive and engaging environment for their staff. This is where the question of staff amenities or entertainment is raised. While both expenses can boost morale, productivity, and workplace satisfaction, they are different in nature. A business accountant can help you understand the differences between these two […]
Staff Amenities vs Entertainment: Workplace Culture Read More »
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 »
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 »
When you run a business and/or have an investment portfolio, it’s important to know whether you need a business accountant, a financial advisor, or both. While their roles overlap in some areas, each professional offers unique services. Here’s a breakdown to help you decide which one you need. What is a Business Accountant? A business
Business Accountant vs. Financial Advisor Read More »
In the fast-paced world of business, maintaining accurate and organized financial records is a non-negotiable task. A well-kept set of books not only ensures compliance with regulations but also provides crucial insights for making informed business decisions. For business accountants, mastering the art of bookkeeping is a key skill. In this blog, we’ll explore some
The Art of Bookkeeping: Tips for Business Accountant Read More »
