How to Handle Home Vacation Rental from a Tax Perspective

Posted on: 3 November 2020

With international air travel off-limits for the most part, and the situation likely to remain the same for the foreseeable future, Australians will be on the lookout for domestic holiday options. This is a huge opportunity for anyone who has spare accommodation or second home that they may use for renters. If you're thinking about this opportunity, you may be able to make the option even more palatable from a tax perspective. [Read More]

3 Guidelines to Help You Pick an Excellent Accountant

Posted on: 30 July 2020

Everyone starts a business with the aim that it will thrive and become a giant in a particular niche. One of the easy ways to ensure exponential business growth is recruiting a trusted accountant to help with financial record-keeping, tax advice, accounting, and auditing.  The four functions of the accountant, and your specific business needs, should always guide you in choosing the ideal candidate for the job. You can get a competent accountant by asking for referrals from bankers, attorneys, and business associates. [Read More]

Beneficial Accounting Services Your Business Will Receive From a Dedicated Accounting Firm

Posted on: 29 April 2019

It is not surprising to find small business owners trying to do everything they can on their own in an attempt to cut costs and keep a profitable bottom line. Although this approach can work in some areas of your business, it should never be your go-to route when it comes to your business's finances. While you may be trying to save money by not outsourcing your accounting needs, you could be putting your business's profits in jeopardy, which will inevitably result in losses for your bottom line. [Read More]

How to Claim Clothing Costs Against Your Tax Return

Posted on: 24 August 2018

Most people are aware that they can itemise some deductions on their tax return in order to reduce their overall liability. Some of these deductions are fairly obvious, but many of them are rather obscure and are often hidden behind lines of tax code. Do you always err on the side of caution when you're trying to claim back from the government, as you'd prefer to avoid any questions, or do you seek out any potential advantage as you try to reduce your exposure? [Read More]