TheAccountants

Category: Business Planning

Who owns the Shares?

This article, tailored for business owners and written from an accountant’s perspective, provides insights into share ownership in a company. It covers the basics of shares, types of shares, identifying shareholders, issuing shares, rights and responsibilities of shareholders, share transfers, tax implications, and the importance of understanding the company’s structure. This understanding is crucial for managing business ownership, financial responsibilities, and legal compliance effectively.

Read More »

Basics of MYOB

This article, written from an accountant’s perspective, provides a basic overview of MYOB software, highlighting its key features, cloud-based convenience, integration capabilities, customisation, user-friendly interface, and tips for choosing the right product. MYOB is presented as a comprehensive solution for simplifying and streamlining business accounting practices.

Read More »

Fixing a prior year return

This article, written from an accountant’s perspective, provides a comprehensive guide on amending a prior year tax return in Australia. It covers the possibility of amendment, reasons for doing so, the process, timeframe, potential outcomes, record keeping, impact on future tax returns, and the importance of professional advice. This is key information for taxpayers who need to correct or update previously filed tax returns.

Read More »

FAQ Tax Return

This article, intended for individual taxpayers in Australia and written from an accountant’s perspective, addresses frequently asked questions about tax return deductions. It covers a range of deductible expenses, including work-related expenses, home office costs, car expenses, phone and internet costs, self-education expenses, medical expenses, charitable donations, investment-related expenses, union fees, professional subscriptions, and personal superannuation contributions. Understanding these deductions is crucial for taxpayers to effectively manage their tax obligations.

Read More »

How does a commercial lease work?

This article provides an overview for business owners on how equipment lease agreements work. It covers the basics of leasing, differences between operating and finance leases, key components of a lease agreement, benefits of leasing, considerations before signing, and the importance of professional advice. Understanding these aspects is vital for business owners considering leasing as a financing option for equipment acquisition.  

Read More »

What is an annual ASIC Statement?

This article provides a detailed overview of the contents and significance of the annual ASIC statement for business owners in Australia. It covers aspects such as company details, officeholders and members, review date, compliance, fees, updating company information, solvency resolution, and the importance of maintaining accurate records. Understanding and managing these details is crucial for legal compliance and effective corporate governance. 

Read More »

Basic Business Deductions

This article, written from an accountant’s perspective, provides a comprehensive guide to common business deductions in Australia. It covers a range of deductible expenses including operating costs, employee expenses, vehicle and travel costs, depreciation, professional fees, marketing, insurance, bad debts, and education costs, as well as home office expenses for businesses operated from home. Understanding these deductions is key for business owners to manage their tax liabilities effectively. 

Read More »

Getting your books right

This article, written from an accountant’s perspective, highlights the critical importance of maintaining clean books in bookkeeping for businesses in Australia. It covers aspects such as providing an accurate financial picture, ensuring compliance, facilitating audits, aiding in budgeting and forecasting, supporting business planning and funding applications, preventing fraud, increasing efficiency, and the value of professional assistance. Clean and well-maintained books are presented as essential for effective business management and decision-making. 

Read More »

Understanding your tax obligations

This article, written from an accountant’s perspective, provides a clear overview of tax obligations for individual taxpayers in Australia. It covers areas such as understanding taxpayer status, income tax requirements, deductions and offsets, superannuation responsibilities, GST, staying updated on tax changes, and the importance of professional advice. These are essential aspects for individuals to understand and manage their tax responsibilities effectively. 

Read More »

2024 Tax Planning

This article, written from a tax agent’s perspective, provides comprehensive guidance on organising tax planning for the year 2024 in Australia. It covers key areas such as staying updated on tax laws, income management, deductions, superannuation contributions, investment strategies, planning for major life events, business considerations, and the importance of professional advice. These considerations are crucial for effective tax management and financial planning. 

Read More »

Recent Posts

About Us

We bridge the gap between accounting & business advisory. Helping business owners build their best.