SMSF reporting changes from 1 July 2023

Heather Moore • February 10, 2023

If you have an SMSF with a total balance of less than $1 million, from 1 July 2023 you will need to report quarterly to the ATO instead of annually. Previously, SMSFs with a balance under $1m reported annually at the same time as lodging the SMSF annual return.

A Man Is Sitting At A Desk Using A Calculator And A Pen — The Garis Group In Hamilton, NSW

Understanding the Types of Commercial Accounting Reports

By Heather Moore • November 11, 2024
Learn about the key financial reports businesses use. Discover balance sheets, income statements, cash flow statements, & more. Read more.
Two Men Are Sitting At A Desk Talking To Each Other — The Garis Group In Hamilton, NSW

Why Should I Hire an Accountant for My Small Business?

By Heather Moore • October 22, 2024
Looking for a reliable commercial accountant in Newcastle? Our expert team offers tailored financial solutions to help your business thrive.
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The Role of Commercial Accounting in Risk Management

By Heather Moore • October 21, 2024
Explore the critical role of commercial accounting in risk management. Understand how accurate financial reporting, analysis, and forecasting. Learn more!
A Person Is Sitting At A Desk With A Calculator And A Pen — The Garis Group In Hamilton, NSW

The Importance Of Hiring A Certified Tax Accountant For Your Business

By Heather Moore • April 25, 2024
Ensure your business's financial health with a certified tax accountant. Trust experts for seamless tax management. Read on to learn more!
A Man And A Woman Are Sitting At A Table Looking At A Clipboard — The Garis Group In Hamilton, NSW

What To Know About Commercial Accounting

By Heather Moore • April 9, 2024
Master the essentials of commercial accounting with expert insights. Elevate your financial management skills today. Read on to learn more!
A Person Is Typing On A Laptop — The Garis Group In Hamilton, NSW

How To Find A Good Tax Accountant

By Heather Moore • February 19, 2024
Discover how to find a reliable tax accountant for your financial needs. Get expert advice and maximize your tax returns today!
A Woman Is Sitting At A Table With A Laptop And A Piece Of Paper — The Garis Group In Hamilton, NSW

The problem when the evidence doesn’t match what the taxpayer tells the ATO

By Heather Moore • February 6, 2024
A recent case before the Administrative Appeals Tribunal (AAT) highlights the importance of ensuring that the evidence supports the tax position you are taking. The case involves heritage farmland originally purchased for $1.6m that sold 7 years later for $4.25m and the GST debt that the ATO is now pursuing on the sale. In 2013,... The post The problem when the evidence doesn’t match what the taxpayer tells the ATO appeared first on The Garis Group.
A Man Wearing A Hard Hat Is Working On A Wooden Structure — The Garis Group In Hamilton, NSW

Contractor or employee?

By Heather Moore • February 6, 2024
Just because an agreement states that a worker is an independent contractor, this does not mean that they are a contractor for tax and superannuation purposes.
A Toy House Is Sitting On Top Of A Calculator And A Pen — The Garis Group In Hamilton, NSW

Can my SMSF invest in property development?

By Heather Moore • February 6, 2024
Wondering if your SMSF can invest in property development? Learn the rules, benefits, and risks to make the best decision for your future.
A Man And A Woman Are Sitting At A Table Talking To Each Other — The Garis Group In Hamilton, NSW

The Difference Between Bookkeeping And Accounting

By Heather Moore • November 27, 2023
In this blog, we’ll explore the core functions of bookkeeping and accounting and also discuss the top differences between the two. Read on to learn more.
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