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Category: Taxation

8 Last Minute Tax Saving Tips

8 Last Minute Tax Saving Tips

So it’s nearing the end of June and you might think that it’s too late to do anything to reduce your tax before June 30, right?

Using the $20k offset before it's gone.

Using the $20k offset before it’s gone, for good.

Most small businesses now know about the $20,000 tax offset provided by the ATO that was introduced on 12th May 2015. What many of you may not know is that this write off will be reduced to $1,000 from 1st July 2018*

Your EOFY Super Checklist

Your EOFY Super Checklist

It is fast approaching the 30th of June so now is the time to run through a checklist of what you need to do prior to the end of the financial year.

End of financial year express equipment finance

Finance Friday #7 | End of financial year express equipment finance What would you spend $150k equipment finance on in your business? End of financial year express equipment finance What would you spend $150k in equipment finance on in your business?Mick Doyle is credit representative 495495 of BLSSA Pty Ltd, ACN117651760 (Australian Credit Licence 391237)…
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Changes to rental property deductions, here’s what you need to know.

Tax Tip Tuesday’s With Monique #3 TAX UPDATE: There have been some significant changes to rental property tax deductions since our last rental tax tip video. Here’s all you need to know about these recent tax updates. Changes to rental property deductions, here's what you need to know. TAX UPDATE: There have been some significant…
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What determines whether it’s a hobby farm or a business?

Money Monday’s With Monique #3 In line with our upcoming Farm Fantastic expo, this week’s Money Monday is all about, you guessed it, farming! What determines whether it's a hobby farm or a business? In line with our upcoming Farm Fantastic expo, this week's Money Monday is all about, you guessed it, farming! Posted by Accountplan on…
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What can I claim on my rental property?

Tax Tip Tuesday With Monique #2 CALLING ALL RENTAL PROPERTY OWNERS! Are you maximising your tax deductions? Monique’s tax tip this week covers the three types of deductions you can claim on your rental property. What can I claim on my rental property? CALLING ALL RENTAL PROPERTY OWNERS!Are you maximising your tax deductions? Monique's tax…
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Do I still have to lodge a tax return if…

Money Monday’s With Monique #2 “I’m retired and receive a pension, do I still have to lodge a tax return?” Retirement and tax return requirements. "I'm retired and receive a pension, do I still have to lodge a tax return?" In this week's Money Monday, Monique answers this popular question. Posted by Accountplan on Monday,…
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Reap Your Rewards Farm Fantastic

Reap Your Rewards

You reap what you sow, or so the saying goes, but do you ever feel like what you put in just doesn’t amount to what you get out? Whether you’re visiting Farm Fantastic as a keen gardener, hobby farmer or agricultural guru, getting the right advice on your accounting, tax and finance matters can see…
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ATO Update 2018

ATO: New Targets for 2018

ATO READY, AIM, FIRE. The new year brings businesses the opportunity to review past performance, set new targets and make action plans for the year ahead. The Australian Tax Office (ATO) is no different and Australian Tax Commissioner Chris Jordan has given the Chartered Accountants publication, Acuity, a first-hand account of the targets and action…
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Farm Fantastic 2018

Heading to Farm Fantastic, We’ll See You There!

From the 2nd – 4th March we’ll be attending the annual Farm Fantastic Expo at the Caboolture showground.

Self-Service Super Contributions

Self-Service Super Contributions

NEW OPPORTUNITY TO BUILD WEALTH The 1 July 2017 super reforms have opened up a fantastic new opportunity to build wealth in super and reduce your tax bill at the same time. That is, it’s now easier to claim a tax deduction on your personal super contributions than ever before.

How Working With a Bookkeeper Will Change Your Business

How Working With a Bookkeeper Will Change Your Business

Why would your Accountant be suggesting that you also work with a bookkeeper? Surely your Accountant is looking to save you money, not recommending you add in another cost to managing your financials? But adding a Bookkeeper like Warren to your business support team will actually save you money.

Why Every Business Needs A Bookkeeper

Why Every Business Needs a Bookkeeper

Do you own your own business? The hair salon of your dreams, the plumbing service you knew you could do better or the business coaching consultancy that you’ve been wanting to run for years? Now, do you work with a bookkeeper? Running a business is harder than it seems and more work than every business owner…
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Get organised for tax time

DOWNLOAD HERE > AccountPlan_Individual_Tax_Checklist

Last Minute Tips to Reduce Tax

So it’s the first week of June and you’re probably thinking that it’s too late to do anything material to reduce your tax before June 30. Right??  Wrong!! It’s both obvious and true that like any other life endeavour nothing usually beats a combination of great advice followed by a commitment to work to a…
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Growing Your Super Nest Egg

To retire comfortably, your employer’s 9.5% contributions to your super may not be enough. By making extra contributions, you will boost the amount of super you have when you stop working. The key though is to start now so you can relax later. Why grow your super? There are lots of good reasons why you…
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Capital Works vs Repair

You can claim a deduction for repairs and maintenance to your property as long as they are not capital expenses. Many landlords forget about the new tap or roof repair as their primary focus is on the rental returns and capital gains.