As Accountants we tell every new business partnership (not mum & dad partnerships) to think about an exit strategy.  We say things like, “you are both building the business now and based on your figures, skills and enthusiasm it looks like you will be very successful.  But if you drift apart or want to go in different directions how will you pull it apart?”

Organising your end-of-financial year documents now means you can get your tax completed earlier and maximise your return. Book a your tax return appointment now and rest easy knowing it’s under control.

Are you claiming all the business tax deductions that you are entitled to?

There are many expenses common to most small business, and there are other expenses that are specific to the nature of the goods or services that your business provides.

Do you find budgets boring? 5 ways to cut back on your personal spending without having to track every transaction.

For the 2023FY the ATO has changed how taxpayers calculate and claim a tax deduction for working from home expenses.

 In 2021FY the ATO introduced a short-cut rate of $0.80 per hour – that option expired in the 2022FY, and so has the fixed rate method of $0.52 per hour of working from home.

 We now see the introduction of a NEW fixed rate of $0.67 per hour, along with significant changes to the record keeping requirements.

The new rate will cover the following expenses: