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“Work From Home” Yardstick
Not all work-related expenses are created equal such that we think we can claim anything or everything as a tax deduction. This is a no no! The proliferation of “Work from home” (WFH) related expenses during this ongoing pandemic is now more than ever, attracting ATO’s intense scrutiny. The key thing to remember is that…
FBT-free Electric Cars
Making Electric Vehicles (EVs) FBT-free is just the first step in the Government’s plan to make zero and low-emission vehicles the car of choice for Australians, focussing on affordability and overcoming “range anxiety” by: Cutting import tariffs Placing EV fast chargers once every 150 kilometres on the nation’s highways Creating a national Hydrogen Highways refuelling…
Changing accountants – Changing accountants is easy
A few years ago ANZ conducted a survey of SME accounting clients. An astonishing 43% of respondents said that they would change accountants if an appropriate one was presented. This is a measure of “perceived indifference” rather than hostile dissatisfaction. Compare that to the fact that accounting practice clients are generally perceived to be highly…
Success In Business – Part Two
I have many times heard the same question asked in a myriad of ways. “How do you succeed in business?” Over four decades of working in diverse industry sectors with multinationals to sole traders, I would answer that this requires a multi-faceted response. There are so many sides to success (even the term success can…
Stop Scams. Speak up and let’s talk about it!
Did you know that ACCC reported the following statistics in August last year alone? 190,000 reports of scams $192M losses Cryptocurrencies are the most popular type of investment scams (It starts with $250 and $500 investments, but scammers pressure more overtime before claiming all the investments is gone) The over 65’s have lost the most…
Understanding TPAR: A Guide for Businesses
What is TPAR? Taxable Payment Annual Reports (TPARs) are an essential part of Australia’s tax system. It is a way for the Australian Taxation Office (ATO) to keep track of all the payments you make to contractors. This way, the ATO can ensure: Who Needs to Lodge a TPAR? You may need to lodge TPAR…