The end of the year approaches, and while people are getting ready for the festivities ahead, professionals are crunching numbers to prepare for the 2021 tax returns. However, the factors…
Accrual accounting, put simply, is about stating revenues and expenses as they happen instead of when cash is paid out or received. As a contract, cash accounting systems don't report…
Is your real estate agency struggling to keep up with all your accounting and bookkeeping obligations, especially on peak months where there are a lot of homebuyers looking to purchase…
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…
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…
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…
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,…
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…
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…
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…
