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Liverpool NSW 2170

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Signs You May Have a Bad Accountant

Regardless of how long you have maintained your relationship with your accountant, and regardless of whether you have a personal or business accountant, or both, it’s wise to step back and assess him or her on occasion. After all, you have entrusted this person, or business, with your finances. Here are a few things to […]

Changes To Simpler Depreciation Rules

The small business instant asset write-off threshold has been increased from $1,000 to $6,500 for the 2012-13 income year. This means the long life small business pool and the general small business pool have been consolidated into a single pool to be written off at one rate. These amendments only apply to small businesses that […]

New Taxable Payments Reporting

Businesses in the building and construction industry must now report the total payments they make to each contractor for building and construction services each year. This change came into effect 1 July 2012. These payments are to be reported to the ATO as part of the Taxable payments annual report. Who Needs To Report Businesses […]

A Financial Advisor: Guidance When You Need It

We would all like to think that we know what’s best for our businesses, our futures and ourselves. However, in the sticky, tangled world of finances, one really bad decision can ruin a lifetime of work. A financial advisor can help you navigate through the tricky moments by offering knowledgeable, real world financial advice in […]

Why Hire a Chartered Accountant?

If you need to hire a company accountant, but want to ensure that you are hiring the best, then strongly consider hiring a chartered accountant. Not every accountant has the same skill set and level of training, and not every accountant can become a chartered accountant.

Self-Education Expenses Capped

The Government announced its intention to limit the allowable deduction for self-education expenses by individual taxpayers. From 1 July 2014 it will be capped at $2,000 per annum. The limit will apply to all self-education expenses such as tuition, books, courses, computer equipment as well as travel and accommodation relating to things such as seminars […]

Changes To The Super Guarantee And Upper Age Limit

From 1 July 2013 the super guarantee increases to 9.25% and the upper age limit has been removed. This means employers may need to make super guarantee payments for eligible employees aged 70 years and over. If you are an employer, you will need to ensure that your payroll and accounting system applies the appropriate […]

Cloud Computing For Small Business

Cloud computing can boost your productivity, but make sure you know what you’re signing up for. Chances are your email, latest accounting software or job ordering system is based in the ‘cloud’. It lets you do things previously only dreamed of by large companies with dedicated IT services. All the maintenance, development and backups are […]

New Order With Banks

Since the Global Financial Crisis there is strong evidence to suggest the relationship between small to medium sized enterprises and banks has changed. Banks are now tougher to deal with – they are managing their risk profile more stringently. There is an increased use of covenants. Covenants set performance criteria for a business and can […]

Land Tax – Check Your Assessments

The State Revenue Office is currently issuing Land Tax assessments. Owners of land should ensure these assessments are correct as experience has shown the assessments regularly contain errors and excessive land tax may be levied. Land owners are encouraged to: Carefully check the land tax assessment. Ensure the correct names are listed as land owners. […]

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