Small business bookkeeping service – How to choose the right one

small business bookkeeping

When it comes to bookkeeping, small business owners don’t always have time for it, forget to do it and, let’s be honest, don’t really want to either. When searching for a  bookkeeper there are a few important questions to ask yourself: What’s covered by bookkeeping services? Why shouldn’t I just do my own books? Can … Continue Reading

Federal Budget 2020-21: What You Need To Know

federal budget 2020-21

The planned federal budget for 2020-2021 will be Australia’s largest with a forecast deficit of $214 billion for the 2021 fiscal year. Business summary The key points for business are: The temporary full expensing deduction of capital assets until 30 June 2022 for businesses with turnover up to $5B. JobMaker Hiring Credit JobTrainer Fund Fringe … Continue Reading

5 tips to grow your trades business without money

Grow your business without money

Operating on a tight budget? We all share a desire to grow our businesses. A common question we come across though is: “How do you grow your business without money?” In our 50+ accumulated years of experience dealing with a wide variety of clients, here are 5 things we’ve seen help to grow a trades … Continue Reading

Tips to Prepare For Your Tax Return [2020]

Calculator to prepare tax return

Here is the ultimate guide to successfully prepare your personal tax return. Before meeting with you to prepare your tax submission, you need to gather certain information that applies to your circumstances for the year. There’s no denying that the ATO’s pre-filling service takes care of a lot of the traditional paperwork, however most of … Continue Reading

ATO’s clampdown on work-related expenses

Crackdown on "other" work related expenses

ATO’s view on Work-Related Expenses and deductions being claimed Work-Related Expenses and what to do about them There have been numerous media reports of late about the ATO’s view on work-related deductions being claimed by individual taxpayers. This is on the back of work-related expense claims in 2017 reaching a record $21.2 billion. Reports suggest … Continue Reading

What you need to know about a self-managed super fund

What is a Self-Managed Super Fund

Asking yourself how to set up an SMSF? Read this first. Everyone has a superfund, but not everyone has their own superfund. Setting up a self-managed super fund (SMSF) gives you control over how your super is working for you. While you still can’t access the money before you retire, once you reach retirement, the … Continue Reading

What expenses can you claim on your investment property?

Investment Property Expenses

Wondering how your investment can help with tax? Here’s an overview. Buying an investment property not only gives you rental income, it presents a great opportunity for tax deductions. Here is a general overview of what you can and can’t claim, but remember, it is general and you should always get professional advice regarding your … Continue Reading

What business structure should you use?

Business Structure

Learn about the four main types of business structure in Australia For every business you own, there is a structure that comes with it. Deciding on a business structure isn’t a quick decision, as each one has its own advantages and disadvantages. To help you figure it out, we’ve outlined four of the main business … Continue Reading