by AccountingProfessionals | Dec 10, 2018 | Accounting Professionals
With Christmas fast approaching, the ATO has reminded employers and business owners about the potential FBT implications of providing office Christmas parties and gifts to employees. Whether or not the party or the gift attracts FBT depends on a number of factors...
by AccountingProfessionals | Dec 10, 2018 | Accounting Professionals
December is usually the busiest time of the year for retail and hospitality businesses. But businesses in other sectors often find that their sales slowdown and their customers stop paying them for a few months. So cash flow dries up. Whether your business is large or...
by AccountingProfessionals | Dec 10, 2018 | Accounting Professionals
Recently, the new shiny iPhone XS and XR entered the market. For all the Apple lovers out there, this might mean being the first to wrap your hands around the irresistibly smooth all-glass design, or finally upgrading your old glitchy iPhone to the new model. If this...
by AccountingProfessionals | Oct 31, 2018 | Accounting Professionals
Before you rush off to gather all the documents for your tax return, beware of some changes in this year’s return, particularly in the areas of rental properties and superannuation. In addition to the changes in the tax return, the ATO has also outlined the top 5 most...
by AccountingProfessionals | Oct 8, 2018 | Accounting Professionals
By Nick Fitzgerald, Business Advisory Director, Accounting Professionals “I’m so busy right now,” is hands down the most common response I hear when I ask business owners, “how are you?” or “how’s business?” And, sadly, the answer to my follow up question “how is cash...
by AccountingProfessionals | Oct 8, 2018 | Accounting Professionals
The sole purpose test is one the fundamental requirements for a Self Managed Super Fund (SMSF) to obtain tax concessions. It requires that the SMSF be maintained for the sole purpose of providing retirement benefits to its members or their dependents if a member dies...
