Should my business buy my car?
7/10/2022

Categories:  All  |  Business Accountant Perth

Regardless of whether the owner is a company or an employee, a car purchased for business use can provide tax benefits to the owner. However, there are also tax implications that can impact these supposed benefits. Certain advantages and disadvantages to purchasing a car for a business may not necessarily apply to your business or impact your decision, but they can assist in informing it.

Business Insurance - Which cover do you need?
12/09/2022

Categories:  All

Providing your business with insurance is like providing a safety net to a trapeze artist. You hope you won’t need it but having it in place adds security and protection if the worst-case scenario occurs.

The Proposed Electric Vehicle FBT Exemption - What you need to know
5/09/2022

Categories:  All  |  Tax Returns Perth

You may have heard a lot of buzz in the news regarding electric cars. What was once a car for the elite is now a far more common sight on the streets. Electric cars are becoming hot commodities, with one-third of electric vehicle sales in Australia occurring within New South Wales alone.

Structured Settlement and Super Contributions
22/02/2022

Categories:  All  |  Superannuation

Disasters, be they natural or man-made, can happen to anyone. It could be a car accident, a tree crashing through the roof, or a bushfire hitting your residence. In any case, an event that causes significant harm or impact that affects someone’s everyday life in an adverse way is never pleasant.

Fringe Benefit Tax - Do You Know What Benefits You're Giving Your Employees?
14/02/2022

Categories:  All  |  Tax Returns Perth

Business Cashflow - should you review it now?
9/02/2022

Categories:  All  |  Tax Returns Perth

How To Manage Business Activity Statements
10/01/2022

Categories:  All  |  Tax Returns Perth

Been hearing a lot about business activity statements (or usually called BAS), and feeling more than a little pressure? Essentially, a business activity statement (BAS) is a government form that all businesses must lodge to the Australian Tax Office (ATO). All businesses registered for GST need to lodge a business activity statement (BAS). This can be done with the assistance of a registered tax agent or BAS agent.

Tips to Maximise Your Super Before Retirement
17/12/2021

Categories:  All  |  Superannuation

There are plenty of ways to maximise your superannuation contributions prior to your retirement at any time of your life. As means of funding your nomadic lifestyle, your seachange or your downtime after retiring, you want to make sure your superannuation balance is equipped to handle it.

Minimum Wage Increase in November 2021 - Is Your Business Compliant?
29/11/2021

Categories:  All

From 1 November 2021, minimum wages in 21 awards were increased. If you are not paying your employees this new rate of pay, you may find yourself facing significant penalties for failure to comply with the Fair Work Ombudsman. This increase applies to anyone who is paid the minimum award wages or the national minimum wages.

Starting a Second Job, What does it mean for my taxes?
26/11/2021

Categories:  All  |  Tax Returns Perth

Are you in the process of getting a second job to supplement your income? Or have you already received one, and are now simply confused about what you are being taxed on?

Make sure Your Super Goes to Your Loved Ones
15/11/2021

Categories:  All  |  Superannuation

What happens to your super when you die? It might not be a question that has cropped up in many people’s minds, but it is something that you should be concerned about.

Rent Concessions, Property & Tax
11/11/2021

Categories:  All

Over the last 12 months, there have been many notable schemes promoted by state and federal governments to assist businesses and individuals with much-needed tax relief. Numerous relief schemes have been put into place to assist those with rent relief for their businesses.

Unpaid Super - what are your options
9/11/2021

Categories:  All  |  Superannuation

Australia’s superannuation laws are designed with the intent to ensure that your nest egg for retirement is protected and able to continue to grow throughout your career.

Your employer is expected to make contributions to your superannuation by law, known as the Superannuation Guarantee, as a part of your wages and salary package. The current rate for the SG is 10% in 2021-22.

Spouse Super contribution - What are the benefits?
8/11/2021

Categories:  All  |  Tax Returns Perth

Depending on your relationship, you may have discussed with your partner the prospect of marriage. Or you might be more comfortable remaining in a long-term de facto relationship (especially since many de facto relationships have similar rights as those of a marriage). You might share a lot of things with your partner (such as a mortgage, a family, or a car), but did you know that you might be able to boost their super for them?

Coming Soon - Director Identification Numbers (DIN)
29/10/2021

Categories:  All

Did you know that there are 31 different business registers that a business or company may need to be registered with that are a part of ASIC? Some of these registers are being brought together, in what will be known as the Australian Business Registry Services (ABRS).

Capital Gains Tax Can Be Tricky - STC Partners, Perth accountant are here to help
25/10/2021

Categories:  All  |  Tax Returns Perth

If you have disposed of any assets (which can include the loss, destruction or sale of an asset) which are subject to capital gains tax, you need to let us know as soon as possible. These are known as capital gains events, which can affect the way in which a capital gain or loss is calculated, and when it is included in a net capital gain or loss.

Renovations, DIY and Repairs - Your Need To Know As A Property Investor.
25/10/2021

Categories:  All

As a property investor, you might find yourself implementing repairs and renovation work onto a property to ensure that you are maximising its value on the market. However, though both can be claimed on your tax return, it’s of paramount importance that you know how to claim them. Getting it wrong can be both costly, and unlawful.

STP-Single Touch Payroll
30/05/2019

Categories:  All

What is it and what needs to be reported?

For the purpose of reducing compliance burden for employers and individuals in transmitting information to multiple Government agencies, the Government has announced that it will improve the efficiency of data collected through Single Touch Payroll (STP) by the ATO.

The collection of data includes wages or salaries, PAYG Withholding tax and superannuation payments. This information will be transmitted to the ATO in real-time for each payrun, using the STP-compliant software.

Uber drivers, Deliveroo riders and alike, these are all you need to know.
15/12/2016

Categories:  All  |  Tax Returns Perth

Since beginning last year, Uber has taken Australia by storm. The Australians have discovered a new way of earning side income in such way that is flexible with their time and needs. Earning income is easy with Uber, thus it is important for Uber drivers to understand how income from Uber is managed and taxed. From our Perth accountant experience handling Uber tax, we would like to share with you some of the important points worth noting below.

New Year Resolution 2017: How To Be More Organised This Year
15/12/2016

Categories:  All  |  Tax Returns Perth

It feels like we have just entered into 2016 yesterday and now the New Year is just a few days away. How time passed by so quickly! As New Year comes, there should also be new resolutions for the better you and your businesses. A wise word from your local tax accountants, it pays to get more organised. Remember the stressful time of submitting last minute tax return Perth of yours? Yep. Let’s avoid that. There could not be any better time to get organised and start the year with a clean slate other than this.

How To Throw A Tax Savvy Christmas Party This Year
15/12/2016

Categories:  All  |  Tax Returns Perth

December is an exciting month everyone has been waiting for. Not only for the families at home where there will be reunions, gathering, sharing of gifts, foods and laughters, but also for companies, as many are planning their Christmas party for their staff. However, throwing your office Christmas parties might have some business tax consequences. Thus, it is worthwhile to be savvy this year by educating yourself with what kind of parties which will attract tax and acquiring tax advice from your local tax accountants.

Tax Returns Perth - Do you have to lodge your Tax Return?
5/10/2016

Categories:  All  |  Tax Returns Perth

Australian tax returns can be very complicated not only for first time lodgers. Individuals who have been residing in Australia and been lodging their returns can still find it confusing. The problem is, not everyone has the same situation. Also, Australian tax is an ever changing regime. Which means, not every year of your tax returns may be the same.

Bookkeeping Perth Xero Tips - SuperStream
5/10/2016

Categories:  All  |  Business Accountant Perth

As you may be aware, ATO requires every employer to use SuperStream for paying their employees’ super starting from 30th June 2016. SuperStream is the new way employers must pay super. It means paying super and sending employee information electronically in a standard format. We are here to share a Bookkeeping Tips on Xero.