Accountant Archives | Page 3 of 8

Xero vs MYOB: Choose the Best Cloud Accounting for Your Business

Accountant, bookkeeping, Budget, Small Business Accountant / Nobel Thomas

In today’s fast-paced business environment, it is imperative to manage finances efficiently for success. Two of the leading cloud-based accounting software solutions in Australia are Xero and MYOB. Each offers unique features tailored to specific business needs, making the choice between them an important decision. This guide breaks down their key features, pros, and cons […]

Xero vs MYOB: Choose the Best Cloud Accounting for Your Business Read More »

What is a Recession in Australia and How Can You Prepare?

Accountant, Business Tax, Small Business Accountant, tax / Nobel Thomas

The term “recession” often makes headlines and stirs concerns about the economy, businesses, and households. But what does it really mean, and how can Australians prepare for it? What is a Recession? In simple terms, a recession is a significant decline in economic activity across the economy, lasting for an extended period, typically two consecutive

What is a Recession in Australia and How Can You Prepare? Read More »

Do You Have to Repay HECS-HELP Debt if You Leave Australia?

Accountant, financial advisor, Financial Planning, tax / Nobel Thomas

For Australians pursuing higher education, the HECS-HELP loan system offers a way to fund tertiary studies and pay back the debt once their income reaches a certain threshold. But what happens if you move overseas? Are you still required to repay your HECS-HELP debt? Here’s everything you need to know. Understanding HECS-HELP Debt HECS-HELP is

Do You Have to Repay HECS-HELP Debt if You Leave Australia? Read More »

Do You Only Pay Tax on Crypto When You Cash Out?

Accountant, Business Tax, tax / Nobel Thomas

Cryptocurrency has grown exponentially in popularity over the last decade, attracting both seasoned investors and newcomers. Along with this rise in adoption comes an important question for many: do you only pay tax on cryptocurrency when you cash out? This blog explores the tax implications of cryptocurrency transactions in Australia. Understanding Cryptocurrency and Tax in

Do You Only Pay Tax on Crypto When You Cash Out? Read More »

How to Start a Business in Australia

Accountant, Financial Planning, Small Business Accountant, tax / Nobel Thomas

Starting your own business in Australia can be both exciting and rewarding. However, to set yourself up for success, you need to set yourself up properly. Making a mistake in the early stages can become costly down the track. This blog will guide you through the process of starting a business in Australia, from ideation

How to Start a Business in Australia Read More »

What is the 6-Year Rule for Capital Gains Tax?

Accountant, Property Development, tax / Nobel Thomas

When it comes to property investment in Australia, understanding tax implications is crucial to ensuring that capital gains tax, if any, is kept to a minimum. One such key tax rule which you may have heard of is the 6-year rule for capital gains tax (CGT), which can provide significant tax relief to property owners.

What is the 6-Year Rule for Capital Gains Tax? Read More »

Is GST Payable on Residential Property in Australia?

Accountant, Property & Construction, Property Development / Nobel Thomas

When buying, selling, or renting property in Australia, one key consideration for both buyers and sellers is the Goods and Services Tax (GST). While GST is a well-known part of many commercial transactions, its treatment when it comes to residential property can often cause confusion. While it is always best to consult a property accountant

Is GST Payable on Residential Property in Australia? Read More »

How to Lodge a Sole Trader Tax Return

Accountant, Small Business Accountant, tax / Nobel Thomas

Running a business as a sole trader offers simplicity and flexibility, but it also comes with tax responsibilities and potentially tax disadvantages that must be managed carefully. Lodging a tax return as a sole trader may seem overwhelming, especially if you’re new to running your own business, but understanding the process can make it far

How to Lodge a Sole Trader Tax Return Read More »

When Should You Consult an SMSF Accountant?

Accountant, Small Business Accountant / Nobel Thomas

Self-Managed Super Funds (SMSFs) are a powerful tool for Australians looking to take control of their retirement savings. However, managing an SMSF comes with significant responsibilities, ATO requirements, and strategic decisions. Whether you’re considering setting up an SMSF or already managing one, the expertise of SMSF accountants Melbourne can make all the difference in ensuring

When Should You Consult an SMSF Accountant? Read More »

7 Critical Steps to Take When Receiving an Inheritance

Accountant, financial advisor, Financial Planning / Nobel Thomas

Properly managing an inheritance is crucial to ensure it benefits you and possibly future generations. Here are seven critical steps to take when you receive an inheritance: 1. Pause and Reflect Grieving the loss of a loved one is an emotional process. It’s important to give yourself time to reflect and not rush into major

7 Critical Steps to Take When Receiving an Inheritance Read More »

Accountant