Blog

The 2013/14 Ashes Series has seen the urn returned to Australia after a 5-0 victory! Q. What do you get if you cross the English cricket team with an OXO cube? A. A laughing stock.   Q. What's the height of optimism? A. English batsman putting on sunscreen....

Due to the repeal of the Mining Tax there is going to be a few changes that may affect you and your business. The main changes we would like to make you aware of are: - Immediate Deduction for Small Businesses: From January 1, 2014 small businesses will only be able...

I often quote approx. Workers Comp Rates to clients and use approx. rates in my planning calculations and it got me thinking – what is the REAL rate? Is there somewhere I can find what the rate should be? ... and is there somewhere where I might be able to see...

We continually strive to improve the range and quality of our services to clients and we are excited to announce that we have formed an Alliance Partnership with Numeric Eight who are a substantial, reputable bookkeeping firm. Numeric Eight can assist you with some or...

There is a sweeping change to bookkeeping that hasn't been seen since the introduction of the GST 12 years ago. If you are not using a cloud accounting system with automatic bank feeding data within the next 12 months you will be behind the curve and will be wasting...

It makes sense to regularly review your home and investment loans to ensure that they are appropriate for your current situation and are providing the most competitive interest rate. Financial circumstances change over time and new products become available, so it is...

As announced by the ATO last year, businesses in the building and construction industry will be required to report to the ATO the total payments they have made to each contractor for all building and construction services provided, which is to start this financial...

When you use a business car for private use, one that isn't a commercial vehicle i.e. ute/van/truck, then there is always a need to calculate and report Fringe Benefits Tax (FBT). Under new rules that came in last year, to calculate the amount of Fringe Benefits, you...

Deduction for light lunches consumed by the Directors and Owner on the Business Premises are deductible and should be coded to Staff Amenities.   CCH Research Digest: The ATO's Ruling considers the deductibility of morning and afternoon teas and light meals and...

The search for 'Real' returns With many Governments around the world giving a clear signal that interest rates will stay at historic lows for the foreseeable future, investors are being forced to take on more risks to generate some returns. With domestic term deposits...

I recently had a really good experience with government traineeships that I wanted to share with you. With assistance from Dannelle Robson at the Illawarra ITeC I have concluded my first experience with a partially government funded traineeship with our...

Yes, it's that time of year again already! Please note our office will be closed from Friday December 21, 2012 and will reopen on Thursday January 3, 2013. We wish you all a Merry Christmas and look forward to working with you in the New Year....

The Australian Government is currently supporting small and mid-sized businesses that recruit and retain an apprentice. By registering a construction apprentice with the Australian Business Apprenticeships Centre, you may be eligible to receive $7,350 per apprentice...

Late last month, 22/10/12, the Treasurer delivered his Mid-Year Economic and Fiscal Outlook 2012/13 (MYEFO), revising the 2012/13 budget down to a $1.1b surplus. This includes a write down of $4b in receipts and a variety of savings measures. The MYEFO was relatively...

It was announced in the last Federal Budget in May 2012 that there were going to be a few changes to the small business depreciation rules. The ATO has updated their website to provide information about these changes which will apply from 01/07/2012. In summary: The...

Is a worker an employee or contractor? This is a very common question. Your business risks having to pay penalties if they get this decision wrong. The ATO's new employee or contractor home page offers comprehensive, easy to understand information you and your...

As part of our alliance partnership with CSA Capital, we have recently gained unbelievable wholesale funding rates for our clients for vehicles and equipment. We are talking Hire Purchase, Chattel Mortgage type products.  The finance is written via Suncorp Metway,...

I just wanted to tell you that out of the many banks we deal with on a daily basis, NAB Corrimal have performed exceptionally well on mutual clients matter recently, particularly since Jordan Ross has come to the helm as Branch Manager. In recent times it has been...

Wow the ATO getting faster! Yes its true the ATO have reduced lodgement times for electronically lodged tax returns via tax agents to 12 days.  Additionally we have seen some refunds coming back in 7-10 days.  Talk to us if you need to get your tax return lodged.