Many people miss out on maximising work-related car expense claims due to inadequate record keeping. Failing to maintain a valid vehicle log book can cost you dearly if you are audited by the Australian Tax Office (ATO). For the 2015/2016 financial year, the ATO introduced a change to the maximum amount you can claim using […]
Don’t get caught up in the Christmas cheer with a tax bill because your Christmas party bills are not tax deductible. Generally the safest way to ensure that a Christmas party is deductible is to hold it on your work premises. If your Christmas party is held on a work day and on premises will […]
The rise of technology into business accounting has been a game-changer over the past 16 years. We can now make business and accounting decisions with live, accurate and up to date information. No longer are we, as accountants, documenting what took place up to nine months in the past, but now we can work with clients […]
Recently a client discovered that the insurance for their business and business premises had lapsed during the year so they were not covered with insurance! It was not intentional; they had simply missed the renewal. This came to light when completing their tax work. Let this month, be the time you do the checks to […]
From 1 July 2016, it will be compulsory for all employers to submit their super payments and the accompanying data electronically. Super Stream is a new Government reform to improve the efficiency of the superannuation system and has certain requirements.