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Accountants can help

Albury Tax Return

  Maximise your Tax Return this year with a local Qualified Tax Accountant We offer and utilise the latest in technology and software to ensure your Tax Return is done quickly and easily in a way you will understand. Read More Rewards Getting your Tax Return done with us can be rewarding, we offer incentives for referrals, some people get their Tax Return done for free. — Read More Advice Business Edge Accountants are more than just “bean …

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Report PAYGW Correctly to Claim Tax Deductions

From July 1 2019, If you don’t meet PAYG withholding obligations for your workers, by not withholding tax from their payments and not reporting it to the ATO, you could lose your tax deduction. This will apply to income tax returns lodged for the 2020 financial year and beyond. If you withhold tax from payments to workers, you must withhold the required amount and report correctly to the ATO in order to receive a tax deduction for …

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Building a Better Business in 10 Steps

You’re in business, congratulations, that takes courage and commitment. It’s not easy, and at times you might find yourself questioning why you’re even doing it, but you’re here because you had a vision. You decided being in business was a better way to achieve that vision than working for someone else. And, you’re right; you just have to work on it. Good things come to people who hustle. You’re likely an expert in what you do… maybe …

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You should automate your business

With more choice than ever in consumer goods, brands are turning to individuals who will promote products to their large social media fan base. Each new trend is often an iteration of a previous way of doing things. Companies have long used celebrity endorsement to advertise their brands to customers, but influencer marketing is a bit different. Made possible through social media, the influencer is not necessarily famous, but they do have a huge online following, whether …

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Your taxable payments annual report (TPAR) is due soon

Prepare now for your taxable payments annual report (TPAR) lodgement. Whether you lodge your own report directly with the ATO or if you use our lodgement services, this form is due by the 28th August. There are a number of supplier details required in the TPAR. If you have not kept up-to-date supplier records throughout the year, start updating your records now to ensure timely TPAR lodgement. Things to review before finalising your TPAR: Make sure you …

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Weird deductions and FBT issues with Uber style ride sharing

When an employee uses a taxi service for travel to or from work or if the employee is sick, it is generally exempt from Fringe Benefits Tax (FBT) under the FBT taxi travel exemption. The question is, what about Uber and other ride sharing services, do they also qualify for the exemption? If Uber is considered to be a taxi for GST purposes, that is, all drivers need to be registered for GST and charge GST as …

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Your business can accept no more the $10,000 cash

Why the Government does not want your business accepting cash payments of $10,000 or more From 1 January 2020, the Government intends to restrict the value of cash payments a business makes or accepts to amounts under $10,000. Ignoring the limit will become a criminal offence with penalties of up to 2 years in prison and/ or $25,200*. Payments of $10,000 or more will need to be made electronically or by cheque. We’ll, easy enough you say, …

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Confusion over personal income tax changes

Personal income tax changes – what are you really entitled to? The recent income tax cuts that passed through Parliament do not mean everyone automatically gets $1,080 back from the Government as soon as they lodge their income tax return. The Australian Taxation Office (ATO) has been inundated with calls from taxpayers wanting to know where their money is and how they can access the $1,080 they now believe is owing to them. What changed? From 1 …

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Client meetings, coffee or a catch up… is it deductible?

Do you meet with clients You go out and meet at the cafe for lunch, coffee or otherwise, it always comes up, I can claim this, its a client and a work meeting. But this is not always the case, and you may want to avoid the dreaded “entertainment” expense tag that might mark it as non-deductible. We often get queries about claiming expenses for when we meet with clients/customers at external venues eg cafes–meals, travel etc. …

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Put the customer at the centre of your business to drive sales

A starter’s guide to selling relevantly Advances in technology have impacted the way customers research products and services, and how they shop. Customers have often done their homework and researched all the various options available, and as a result, they think they have all the answers. They will confidently walk into your business telling you that they already know what they want. For those who are customer facing, you may be wondering: how do I actually tell them …

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