Category Archives: Compliance

Are Christmas Gifts For Staff Tax Deductible?

Are Christmas Gifts For Staff Tax Deductible?

So it’s Christmas and what have you done…..about gifts for your staff.   Pretty sure that’s the original line Lennon had and Yoko made him change it.  Anyway, it’s a good question, the people you employ are using their days in the mortal realm to help you run your business, so idk, seems like a […]

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A Guide To Superannuation For Small Business

A Guide To Superannuation For Small Business

Superannuation has been around a while now. The earliest instances can actually be traced back to Federation in 1900. If you’re really keen on the history you can check it out here. It only became mandatory in 1992 as a strategy to reduce the pension liabilities on the public purse. Whether it is achieving this […]

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How To Save $1,833 In Tax This (and Every) Year With Your Car

How To Save $1,833 In Tax This (and Every) Year With Your Car

First things first. I want to put a big fat disclaimer on this: Buying a car for “tax purposes” doesn’t save you money. I am absolutely not advocating you run out and get a car to save tax.   But if you are going to get a car because you need a car to get […]

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The financial reports small business owners must look at

The financial reports small business owners must look at

In my last blog I shared with you a month end checklist to help you improve your reporting processes. This was designed to create a structure about how you manage your internal finances. To help you get organised which helps you get on top of your taxation planning and compliance and also to provide relevant, […]

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What your small business should be doing each month

What your small business should be doing each month

Another month is over, and you’re on to the next one, days and weeks roll into each other and before you know it, the year is over, and you look to the bank accounts to see if you’ve “made any money”.  Sound familiar? Then your accountant gets started on your tax returns, and has a […]

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5 Things Your Family Trust Needs To Do Before 30 June

5 Things Your Family Trust Needs To Do Before 30 June

Every year your accountant slips you a document says something about Bamford, and sends you an invoice. Ever wondered what that’s about? Well wonder no more.  Here’s the 5 things every family trust needs to do before 30 June (and the 5 things you’ve been outsourcing to your accountant and probably not realising); Read the […]

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Tax Minimisation and Planning For Small Business

Tax Minimisation and Planning For Small Business

Tax Planning. What a phrase. It gets bandied around a bit, actually, probably just by accountants.  But clients tend to nod their head and agree that yes, if you say we need to plan our taxes, then we probably should. So what the hell are we talking about? In my mind its two-fold; Tax Minimisation […]

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Fringe Benefits Tax (FBT) For Small Business

Fringe Benefits Tax (FBT) For Small Business

Fringe Benefits Tax (FBT) is mostly ignored by small business and their accountants. Most think of it as a tax for big business, with lots of “entertainment” and exotic remunerations strategies or government departments with scores of internal finance people. But unfortunately, this is mistaken.  FBT applies to all business who provide benefits to employees […]

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