Business Edge Advisors, accountants and bookkeepers in Albury

02 6041 1687

Book a Meeting

Clayton

Clayton Wood, Managing Director of Business Edge Advisors
Managing Director, Business Edge Advisors

Clayton Wood

Clayton has run Business Edge Advisors since 2013. The practice has been on the border since 1988, and he took it over with the same idea it started with: a business owner should be able to ring their accountant and get a straight answer.

Most of his week goes on trade and small business owners around Albury and Wodonga, working through the things that actually decide whether a year went well. What structure to be in, what to do before 30 June, and whether the numbers on the screen mean what the owner thinks they mean. He writes here about the questions that come up most often, in the same words he would use across the desk.

Registered Tax Agent 20651000. Level 1, 561 Olive Street, Albury NSW 2640.

Book a meeting Call 02 6041 1687

What he writes about

  • Tax, which is mostly what you can claim, what gets knocked back, and what changed this year.
  • Xero and bookkeeping, for owners who would rather the software did the work.
  • Business planning, being the part that happens before the numbers are already bad.
  • Individual returns, because a lot of business clients started as a personal return.
by
Working from home

The Australian Taxation Office (ATO) has updated its approach to how you claim expenses for working from home. The ATO has ‘refreshed’ the way you can claim deductions for the costs you incur when you work from home. From 1 July 2022 onwards, you can choose either to use a new ‘fixed rate’ method (67 … Read more

by
A welder in protective gear and a helmet works on metal as sparks fly from the welding point

Gender equality and addressing the pay gap The concept of gender equality is now included as an object in the Fair Work Act. Previously, to grant an Equal Remuneration Order (ERO) the Fair Work Commission (FWC) assessed claims utilising a comparable male group (male comparator). The legislation removes this requirement opening the way for historical … Read more

by
A group of people in business attire place their hands together in a circle on a grey textured background

The Government’s ‘Secure Jobs, Better Pay’ legislation passed Parliament on 2 December 2022. We explore the issues. The Fair Work Legislation Amendment (Secure Jobs, Better Pay) Bill 2022 passed Parliament on 2 December 2020. The legislation is extensive and brings into effect a series of changes and obligations that will impact on many workplaces. The Bill also addresses … Read more

by
tax for being famous

Sportspeople, media personalities, celebrities and ‘insta’ influencers beware. The ATO has taken a U-turn on how fame and image should be taxed. If you’re famous and make an income from your fame and image, the way the ATO believes you should be taxed on the income you make may change under a new draft determination … Read more

by
A smiling woman stands behind a red and white SOLD real estate sign in front of a blurred background

Low-interest rates have been a mainstay since the global financial crisis of 2008. When the pandemic hit, Governments pushed stimulus measures through the economy and central banks reduced interest rates even further. Coming out of COVID, housing market demand was strong and prices boomed but at the same time, supply chains remained restricted and the … Read more

by
A man in a hoodie and cap sits at a desk, typing on a backlit keyboard between two computer monitors

I got a text the other day “Hi Mum, I have broken my phone and I am using this number.” The “Hi Mum” scam has exploded with more than 1,150 Australians falling victim to the ploy in the first seven months of 2022, with total reported losses of $2.6 million. Once the scammer establishes contact, … Read more

by
A woman holds a piece of paper and speaks to a man in a room with boxes and curtains behind them

There is nothing in this Budget that would create a UK style crisis. The stage 3 tax cuts legislated to commence on 1 July 2024 are not mentioned, and most funding initiatives appear to be a reallocation of previous Government initiatives. And, the commodity driven $54.4 billion improvement in tax receipts has largely been banked, … Read more

by
Protect audit insurance

Tax audit insurance is a term that gets thrown around, but what does it actually refer to? Are there different types? What should one look for in a policy? 1. What is tax audit insurance Tax audit insurance is a type of insurance specifically designed to manage the potential costs – namely professional fees – … Read more

by
Four people in business attire sit at a long table in an office, engaged in a meeting and discussion

What is a director ID? A director ID is a 15 digit identification number that, once issued, will remain with that director for life regardless of whether they stop being a director, change companies, change their name, or move overseas. The introduction of the Director Identification Number (DIN) is part of the Government’s Modernisation of … Read more