Scammers are stepping up their attacks on taxpayers by pretending to be Australian Taxation Office staff, but security specialists say you can still spot their sophisticated tricks and protect yourself from being the victim of a scam!
The Australian Taxation Office says that in the first six months of this year it received reports of almost 29,000 ATO impersonation scams.
Scammers will often demand payments for false debts, or offer false refunds if you give them your personal details.
In the May Budget, the government introduced some changes in an attempt to reduce the pressure on housing affordability. Here is what you need to know about how these changes will affect you?
For a long time now deducting travel expenses for traveling to a property you own for rental purposes was the norm, whether it be in your state or interstate.
As per the 2017/18 budget, the government intends to disallow all travel expenses relating to inspecting, maintaining, or collecting rent for a residential investment property from 1 July 2017.
So, what does that mean for every couple or individual who may own a residential property in their personal name(s)? From the 1 July 2017 you will not be able to claim expenditure from traveling by car, plane or any other way to your residential rental property as a tax deduction against rental income. Furthermore, as per current legislation, the expenditure cannot be added to the cost base of your rental property for capital gains purposes. Read more
Most business owners invest a lot of time, effort and money into their commercial babies. Hoping that years, and in some cases decades, of hard work will mean that one day they will be able to sell and enjoy a comfortable retirement.
Unfortunately, there is a common misconception among business owners about the dollar value of their business. This stems from the unquantifiable emotional investment that is rarely reflected in the ventures dollar value.
Read More, for 3 main drivers and other factors that impact the value of an enterprise!
First of all, Aston Martin are designing a personal submarine, Elon Musk is touting the use of the BFR to reduce intercontinental flights to 30 minutes and we live in a world where you turn on your home lights and heating with the use of your smartphone! So moving your business to the cloud is absolutely the right choice!
We live in an ever-changing world of technology and it seems like we are always eager to be hooked on the next new gadget and smart device apps!
At AS Partners we have noticed that technology has advanced further in the last five years, then in the twenty years before that and furthermore, we have advised and supported numerous businesses when it comes to moving into the cloud. As a result, these business clients with annual revenues of up to $15M have experienced strategic advantages! Read on for the top 4 reasons why you should move your business to the cloud too!
Cash flow is an important aspect of every business. So it is important to know that bad cash flow management can lead to businesses going belly up. But it is not only businesses on struggle street that can have cash flow problems. In fact, quite often it is that growing business’s when moving into their next growth spurt that often experience cash flow problems. So, if you want to boost and improve your business cash flow then check out these 6 steps that will surely get you on your way!!
Would you like to achieve work-life balance, gain a peace of mind while being in complete control of your business finances? Then these next 5 action steps on how to run your business from your smartphone is a must read!
Did you know that thanks to technological disruption, it is now possible to run your business almost completely from a connected smartphone in your pocket at anytime, anywhere in the world.
You can create quotes, invoices and accept payments on the go, manage your staff, control business performance and make strategic decisions based on KPIs all from your mobile dashboard.
I am a director of AS Partners, a CPA practice in Melbourne. I have been with the firm since 1983 and have been working in the Cloud Accounting space for over two years. We as a practice have seen technology moving at a breakneck pace which will only continue to evolve at a fast pace into the future.
Australians historically have taken on change with little resistance. Examples are telex machines and fax machines many years ago, to more recent emails and the Internet. The internet is part of our daily lives, allowing us to tap and go with credit cards, do internet banking online and now cloud accounting.
9 Reasons ‘Tax Time’ is before the end of Financial Year, not after
Why the financially savvy have a different ‘tax time’ to others
Your 9-Point Checklist for
Paying Less Tax This Year
Most people think ‘tax time’ is after the end of the financial year, when you get your tax returns prepared.
For the financially savvy, however, tax time is a few months before the end of financial year.
Why is that? Read more
Taking a holiday this summer is good for you and good for the business. Time out for relaxation, beach, sun, fun and time with family and friends. Great to refresh oneself for the stresses of work in the forth coming year. You can make this holiday much more enjoyable knowing that your cashflow management is working. Here are some tips that will let you get the most out of this holiday season.
How many days have you got before closing up and then reopen. You’ve got functions, staff obligation and work to complete.
A Trap That Causes Many Businesses To Go Broke, While They’re Making a Profit There’s…
There’s a saying in business, “You can go broke making a profit.” And another, “Cash is king. Profit is theory.” As you know only too well, you don’t pay rent, meet payroll or pay your bills with profit.
You pay them with cash.
A business can make a lot of sales, have a book full of orders, have delighted customers and clients, have a great reputation, be growing, and yet still go broke. Why? Cash flow. The business might be profitable on paper, but have no money left in the bank. They become insolvent. Read more