2021 – Tax Planning – Client Newsletter
General Year End Tax Planning Strategies Business Income and Expenses Subject to cash flow requirements, consider deferring income until after 30 June, especially if you expect lower income for 2021/22…
Special Purpose Financial Statements: Are They Still Needed?
Many business owners know that the special purpose financial statements (SPFS) are slowly being phased out. This financial report has long been used by “non-reporting entities” who need to present…
Knowing Your Accounting: 4 Business Taxes You Need to File
The advantage of owning your own business is that it ensures your progression to financial independence. Instead of relying on an employer to handle your benefits and retirement plans, you…
Tax-Write Offs: An Australian Business’s Basic Guide
For decades, the concept of tax write-offs is something that Australian businesses have had quite a bit of difficulty wrapping their heads around. From small mom-and-pop retailers to multinational corporations,…
Everything You Need To Know About Cash Flow Forecast
If there's one thing that can make or break your small business, that's cash flow. When you have a solid cash flow plan, you can help reduce the stress for…
2021/22 Federal Budget
Personal income tax changes Retaining the Low and Middle Income Tax Offset (‘LMITO’) for the 2022 income year The Government has announced that it will retain the LMITO for one…
Finding the Right Accountant for Your Needs? Here’s How
One of the most challenging things that every self-employed individual or business owner needs to face is getting taxes in order. Whether they like it or not, handling taxes with…
The Most Common Mistakes Businesses Make During Tax Audits
There are plenty of reasons why the Australian Taxation Office might want to run a tax audit on your business. It’s completely normal for businesses to go through this even…
3 Costly Tax Mistakes Every Business Should Avoid
Understanding the complexities of taxation is essential for businesses of all sizes. As a business owner, you have a range of obligations and responsibilities tax-wise that you need to fulfil.…
5 Effective Tips for Maximising Your Tax Refund This Year
Whether you earn money from work or investments, you usually need to pay tax on your income and fill out income tax returns. You can also get tax deductions from…
