Getting your small business tax in order
With the 2023/24 financial year now wound up, it’s time to think about submitting your tax return and making sure you have the cash reserves put aside to pay the company’s tax bill. This short guide to getting your small business tax in order gives you the lowdown on which end-of-financial-year (EOFY) taxes you’re liable […]
Changes to Capital Gains Withholding tax
Changes to foreign resident capital gains withholding tax rate and threshold. The withholding tax rate for the capital gains tax regime for non-residents is proposed to increase from 12.5 per cent to 15 per cent and the $750,000 property value threshold is proposed to be removed and reduced to nil. What you need to know. […]
Keeping your tax and expenses in check when you are self-employed
Contracting or freelancing requires you to wear a lot of hats. Relationship-building, keeping track of your time, marketing your skills and actually doing the work. But one of your priorities should also be establishing how you handle your money and setting the groundwork for good habits. Understand your deductions Before you start, it’s essential to […]
New Migration Regulations – what you need to know.
New Migration Regulations: What Small Business Owners Need to Know Australia’s new Migration Amendment (Work-Related Visa Conditions) Regulations 2024 are shaking up the immigration landscape. These changes are important for small business owners as they impact both employers and the so-called ‘golden handcuffs’ that previously tied sponsored workers to their employers. Increased Worker Mobility The […]
How to use forecasts and scenario-planning
For centuries, accounting was all about reviewing historic information – but that only told you about the past, not what was going to happen in the future. If you’re only looking back at past periods and historic numbers, this limits the insights you can achieve for your business. With a backward-looking ideology, it becomes difficult […]
How to prepare your business for an audit
Getting ready for an audit is unlikely to be one of your favourite things to do as a business owner. But being prepared, organised and ready can take some of the pain out of an audit. Planning for your audit helps your auditor get their job done more quickly, and also means there’s minimal disruption […]
A Step-by-Step Guide to Integrating Amazon FBA with QuickBooks Online
Here’s an overview: Introduction to Amazon FBA and QuickBooks Online Key Features: Benefits of Linking Amazon FBA with QuickBooks Online Prerequisites for Integration Setting Up Your Amazon FBA Seller Account Navigating QuickBooks Online for First-Time Users Connecting Amazon FBA to QuickBooks Online: A Step-by-Step Guide Configuring Automatic Data Sync Between Platforms Managing Orders, Returns, and […]
How Cryptocurrency Is Taxed in Australia: What You Need to Know
Here’s an overview: Introduction to Cryptocurrency and Taxation in Australia Regulatory Framework Governing Cryptocurrency Definition of Cryptocurrency for Tax Purposes Tax Implications for Different Types of Cryptocurrency Transactions Capital Gains Tax and Cryptocurrency Income Tax and Cryptocurrency Record-Keeping Requirements for Cryptocurrency Transactions Common Mistakes and How to Avoid Them Tax Compliance and Reporting Obligations Penalties […]
Linking Your Amazon FBA Seller Account to Xero
Here’s an overview: Introduction: Why Integrate Your Amazon FBA Seller Account with Xero? Initial Setup: Preparing Your Accounts for Integration Step-by-Step Guide to Linking Amazon FBA with Xero Advanced Tips and Tricks for Maximising Efficiency Introduction: Why Integrate Your Amazon FBA Seller Account with Xero? Integrating your Amazon FBA Seller Account with Xero offers numerous […]
Why Medical Practitioners Need Specialised Accountants: A Guide
In the complex landscape of healthcare, medical practitioners face unique financial challenges that require specialized expertise to navigate effectively. From managing practice finances to complying with stringent healthcare regulations, the role of a specialized accountant for medical professionals is invaluable. This guide explores the critical reasons why medical practitioners should partner with expert accountants, known […]