Skip to main content

Small Business, Taxation

Director Penalty Notices will NOW include GST as well

Parliament has passed legislation to include GST in the Director Penalty Notice (DPN) Regime, and it comes into effect 1 April 2020. What is a Director Penalty Notice ( DPN) ? This is a letter from the Australian Tax Office sent to a company director making them up until now, personally liable for two types of tax debts of the company: PAYG Superannuation Now the ATO have added GST to…

Continue Reading

Small Business, Taxation

Employee or Sub Contractor? Murky Waters, Beware!

Workers and employers are benefiting from the burgeoning gig economy in which people work part-time or on a project basis, often for a stable of employers. However, this is creating some uncertainty around whether people are independent contractors or employees, or a hybrid of both. A recent article in accountantsdaily highlighted this issue. Misinterpreting the arrangements can lead to inadvertent breaches of various legislation, as was demonstrated in the Fair…

Small Business Accountant

Taxation

Did You Know That if You Sell A New Residential Property You May Have To Register For GST?

Let me clarify the scenario: Mr Gump is not a business owner but an employee. He purchases a piece of land and then commissions a developer to build one or more residences on it,  which he then immediately sells with the intention of making a profit.  You might think that this is a private transaction and therefore  has nothing to do with GST, but BE CAUTIOUS. Surprise Surprise! Regulation defines…

Income Tax

Small Business, Taxation

Personal Income Tax Preparation

Get your tax done NOW and take advantage of the reduced tax rates. Our PERSONAL INCOME TAX PREPARATION service is guaranteed to make your life easier. We will help you find applicable tax credits and deductions to REDUCE your tax bill. Have your Personal Income Tax prepared by Accolade Accounting today! Do you need help with your Small Business Tax? Contact Neil at 08 6263 4466 | 0421 824 137…

Small Business Tax Accountant West Perth

Small Business, Taxation

13 Great Ways to Reduce Tax for Small Business 2019

2019 Business Tax Planning Strategies The end of the 2018/19 financial year is almost here, so now’s the time to review what strategies you can use to minimise your tax for your Business. Below is one page of tips: • Bad debts  Trade Debtors should be reviewed  prior to 30 June to identify and write  off any bad ones • Scrap assets Review your asset ledger and write off all…