The ATO will access data from the Department of Home Affairs on passenger movements during the 2016/17 to 2022/23 financial years, and match it with certain sections of ATO data holdings to identify taxpayers that can be provided with tailored information to help them meet their tax and superannuation obligations, or to ensure compliance with…
The ATO has updated its webpage containing the fringe benefits tax (‘FBT’) rates and thresholds for the 2017/18 to 2021/22 FBT years. Two amounts that were not previously announced for the 2021/22 FBT year are: The FBT record keeping exemption is $8,923 (up from $8,853 for the 2020/21 FBT year); and The statutory or benchmark…
Well before the end of financial year is the time to discuss the actions you can take to reduce your tax.
If you want to make the most of tax efficiencies or avoid an unexpected tax bill you might need to change the way you think about tax – Tax planning should start in July. Business owners commonly pay more tax than they need to by leaving their tax planning until the last minute. You can…
For the best possible outcomes for your business, preparation for tax time should start before the end of the financial year. For the 2017/18 financial year, this means now.
MEASURING your performance and gaining a clear UNDERSTANDING of your business financials and defining the goals you have for your business, provide the tools necessary for creating your STRATEGY for business success. However, a STRATEGY without TAKING action achieves nothing. Here’s how we can help you to TAKE the actions you need to transition from…
When operating on gut instinct rather than real-time financial data, it’s easy to become lost in your day to day business operations and lose sight of the big picture. The unfortunate truth is that the bigger the business, the bigger the stresses for the business owners.
You have your financial statements in place, right? You may even have an easy to read dashboard highlighting everything you need to know on one page. But do you really know how to read these figures and what they are telling you about your business?
The management and accounting systems you implemented when you first started your business may no longer be appropriate for your needs today. Without real time figures and information, running your business is equivalent to flying blind.