Insight Archives - Page 3 of 5

Tax Warning for Holiday Home Owners

June 20, 2018

ATO, property investment, rental property, Tax, tax office, Tax Time, taxpayers

This year, the Tax Office issued a warning it was targeting “the large number of mistakes, errors and false” claims made by rental property owners who use this property for their own personal holidays. If you own a rental property and it’s being rented consistently by the one tenant, this warning doesn’t apply to you.…

Tip Tuesday – How to Grow the Family Business

June 12, 2018

Emma Zajac

businessgrowth, familybusiness, growth, smallbusiness

Running a family business and working with family members presents unique advantages, and unique challenges. If you’ve built up your own business, now might be the time to bring in other family members. Here’s how to avoid some of the pitfalls. The benefits of keeping it in the family It’s unusual to see…

Are you using a Tax Agent or an Accountant?

June 7, 2018

Emma Zajac

accountant, advice, Small Business, Tax, tax agent

One of the critical areas that small-business owners need advice on is income tax. This advice is needed when the business first starts as to what type of entity to operate the business through, continues each year so that the owner maximises their income tax benefits, and when the business is sold so they can…

Boost your Tax Refund this Financial Year

May 31, 2018

Emma Zajac

Accounting, ATO, Tax, Tax Refund

June 30 is rapidly approaching, which means there are things you should do in the near future to improve your financial situation. Smart tax planning means deferring income while bringing forward expenses. For example, if you have money to spare, think about placing it in a term deposit with the interest maturing after June 30.…

Latest update from the ATO – Single Touch Payroll (STP), Are you Ready?

May 24, 2018

Emma Zajac

ATO, Small Business, Tax, Taxation Accounting

John Shepherd, Assistant Commissioner, Australian Taxation Office delves into some of the finer detail ahead of the 1 July move to Single Touch Payroll (STP), a change to the way larger employers report tax and super to the ATO. The 1 July start for Single Touch Payroll (STP) is fast approaching, and all larger employers,…

Retiree spending drops faster than predicted

May 17, 2018

Emma Zajac

Retirement, SMSF, Spending

The latest analysis into retirement trends has revealed the financial services industry may have underestimated the dramatic falloff in retiree spending as they age. The Milliman “Retirement Expectations and Spending Profiles” analysis, which used real world expenditure data, found the median retired couple’s expenditure falls by more than 36.7 per cent as they move from…

Tax Deduction Claims for Technology to Rise, but Beware the ATO is Watching.

April 17, 2018

Emma Zajac

ATO, Tax, technology

TECHNOLOGY and tax deductions are combining to deliver Australians a financial boost, but those who bend the rules are increasingly likely to get caught. A surge in people working from home and using devices such as mobile phones and iPads for work-related tasks has opened the door to a new wave of tax deductions.…

Introduction of Digital Currency Exchange Register: Cryptocurrency Tax Tracking

April 12, 2018

Emma Zajac

Cryptocurrency, Investing, Tax

New requirements for digital currency exchange providers will give further transparency to the regulators about trades and tax obligations of Australians investing in cryptocurrency. Rules that came into effect yesterday mean that cryptocurrency exchanges will need to sign up to a new Digital Currency Exchange Register, and transactions exceeding $10,000 must be reported to AUSTRAC in…

When is the Best Time of Year to Start Building?

April 6, 2018

Emma Zajac

building, insight, property

For people building their dream home, one of the biggest questions is about timing. When is it best to start work? A recent article from Realestate.com has the answers your looking for. The average Australian house can take anywhere from four to 12 months to build, depending on the builder, construction method, complexity of the…

Pitch supports innovation in the Hunter

March 21, 2018

Emma Zajac

Eight regional entrepreneurs pitched their innovative ideas to a full house of investors, industry leaders and business people at The Lock Up this month as part of the Business Centre’s Start House 100 Incubator Program. After working their way through the 12-week program, these eight start-ups presented their best cases to an impressive guest list…

Tax Warning for Holiday Home Owners

Tip Tuesday – How to Grow the Family Business

Are you using a Tax Agent or an Accountant?

Boost your Tax Refund this Financial Year

Latest update from the ATO – Single Touch Payroll (STP), Are you Ready?

Retiree spending drops faster than predicted

Tax Deduction Claims for Technology to Rise, but Beware the ATO is Watching.

Introduction of Digital Currency Exchange Register: Cryptocurrency Tax Tracking

When is the Best Time of Year to Start Building?

Pitch supports innovation in the Hunter

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