Stay Up-to-Date on Accounting Regulations

How to Stay Up-to-Date on Accounting Regulations

In the dynamic world of finance and business, staying updated on accounting regulations is integral for financial success. With constantly shifting rules and guidelines, businesses should stay updated on accounting regulations to avoid hefty fines and maintain a positive reputation. This blog explains the importance of staying informed and how accountants play an important role…
self education

Self-education: What can you claim?

The Australian Taxation Office have released a new draft ruling on self-education expenses. We revisit the deductibility of self-education expenses and what you can and can’t claim. If you undertake study that is connected to your work you can normally claim your costs of that study as a tax deduction – assuming your employer has…
2023 Strategy

Full throttle in 2023

In a volatile market, keeping to a strategy, or let’s face it creating one, can be tough. The downside of not taking time out for your strategy is that there is a tendency to keep a short-term focus at an operational level to try and pick quick wins to generate financial returns. Sometimes in the…

States Move on Property Based Taxes

Queensland backs down on Australia wide land tax The Queensland Government has backed away from an amendment that would have seen the land tax rate for investment property in Queensland assessed on the value of the investor’s Australia wide land holdings from 1 July 2023, not just the value of their Queensland property. The amendment…

120% deduction for skills training and technology costs

The Government has reinvigorated this announcement for small and medium businesses An election ago, the 2022-23 Budget proposed a 120% tax deduction for expenditure by small and medium businesses on technology, or skills and training for their staff. This proposal has now been adopted by the current Government and details released in recent exposure draft…

How High Will Interest Rates Go?

The RBA lifted the cash rate to 1.85% in early August 2022. The increase comes a few weeks after Reserve Bank Governor Philip Lowe told the Australian Strategic Business Forum that “…we’re going through a process now of steadily increasing interest rates, and there’s more of that to come. We’ve got to move away from…

FBT-free Electric Cars

New legislation before Parliament, if enacted, will make zero or low emission vehicles FBT-free. We explore who can access the concession and how. Electric vehicles (EV) represent just under 2% of the new car market in Australia but it is a rapidly growing sector with a 62.3% jump in new EV registrations between 2020 and…
Overcome your customers fears of spending

Overcome your customers fear of spending

One of the biggest complaints from salespeople in a tight economy is the time it takes to achieve a sale.  So, what can you do to speed up the sales process? Sell the solution not the product Branding is wonderful but unless your brand is as mighty as Coca Cola, it’s unlikely people will purchase…

Countdown to Tax Time

If your tax planning usually consists of joining a queue to buy stationery shortly before midnight on June 30, it might be time to think ahead. Some deductions require more forward planning, particularly as the financial year-end falls on a Saturday in 2018. Bates Cosgrave director Matt Zhou says: “Tax planning should start as early…
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