Happy New Financial Year! – Hervey Bay Accountant

Wow… what a mammoth end to the 2015 financial year. Its been great meeting with new and existing clients to review the year gone by, and maximise the tax planning opportunities available. Now its time for a little holiday to refresh and recharge, install the new year’s software updates, and get everything ready for the […]

What is your Accountant Doing For you – Hervey Bay Accountants

It’s that time of year where businesses sit down over a glass of wine to review their books for the year just-gone, and dutifully hand them over to their local Hervey Bay accountant. Unfortunately the end result leaves many business owners feeling like they have paid both too much in tax and accounting fees. Beshara […]

ATO App for Small Business – Hervey Bay Accountants

The ATO app has a variety of features to assist small business and individ Other features include; calculating the amount of tax to withhold from salary and wage payments check an ABN using ABN Lookup look at key dates and set reminders and alerts for tax and super obligations work out if employees are eligible […]

Claiming Mobile, Internet and Home Phone Deductions – Hervey Bay Accountants

The ATO has recently released an information sheet setting out their guidelines for how taxpayers can claim phone and internet expenses. In a nutshell, if use of your phone for work is incidental, you can claim up to $50 a year based on the following without having to analyse bills; 25cents for work calls made […]

Christmas Parties and Gifts Guidelines for Small Business– Hervey Bay Accountants

Christmas is on the way and many employers will be planning their annual year-end “bash”. In addition, many businesses will be considering what gifts, if any, they will provide to clients and employees. It is important to consider the possible FBT and income tax implications of providing “entertainment” and gifts to staff and clients. FBT […]

Christmas Newsletter & Office Hours

Christmas time is here! Crack open the chandon (or the old Yellowglen in my case) and bring out the rumballs! Thankyou again for your continued support. The first half of next year promises to be a busy one. If you haven’t got your information into us yet for preparing your financial statements and tax returns, […]

ACN’s to be a thing of the past – Hervey Bay Accountants

In a positive move to reduce the number of business identifiers, from 1 July 2016, ASIC will no longer issue a new company with an ACN at registration; the company’s ABN will be used instead. In the 2015-16 Budget, the Australian Government announced measures to make it easier to register a new business as part […]

E-bikes for Employees – Hervey Bay Accountants

Salary sacrificing a car is a popular strategy for achieving tax savings for employees. Now there’s a new kid on the block for those eco-friendly and health conscious employee’s… the E-stralian electric bicycle or “e-bike”. At the end of 2015, the ATO released a Class Ruling (CR 2015/80) which states that NO fringe benefits tax […]