mary lewis Archives - The Accountants

Building a new home or buying existing

28 August 2024 No Comments

Whether you choose to build your dream home from scratch or find charm in an existing property, the key is to align your choice with your financial realities and life goals, ensuring that your new home becomes a foundation for many happy years ahead.

Ultimately, the choice between building and buying is personal and multifaceted, involving more than just immediate costs. It’s about considering the broader financial impact, your patience for the process, and what you envision for your home in the years to come.

2024 Tax Planning

10 May 2024 No Comments

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.

Thinking of buying a business?

18 April 2024 No Comments

This article, written from an accountant’s perspective, provides an in-depth guide for individuals considering buying a business. It covers evaluating the business’s financial health, conducting due diligence, understanding the market, reviewing the business model, planning for transition, financial planning, and the importance of seeking professional advice. These considerations are crucial for making an informed decision and ensuring a successful business acquisition.

9 Tips for starting a business

2 April 2024 No Comments

This article offers a comprehensive guide for new business owners in Australia on starting a business. It covers key aspects such as refining the business idea, developing a business plan, choosing the right structure, understanding tax obligations, financial management, marketing, handling challenges, networking, and legal compliance. These tips aim to equip new entrepreneurs with the knowledge and strategies for a successful business launch.

Tax on Investment Property

1 February 2024 1 Comment

Investment properties in Australia are subject to a variety of taxes, each with its own set of rules and implications. Understanding these taxes is crucial for effective financial planning and maximising the return on your property investment. Staying informed, keeping accurate records, and contacting us are key to successfully managing the tax obligations of investment property ownership in Australia.

Tax Consequences of a Granny Flat

19 January 2024 No Comments

Building a granny flat on your principal residence can have various tax implications, primarily related to CGT, rental income, and possible deductions. It’s crucial to get professional tax advice tailored to your specific situation, as the tax laws can be complex and vary based on individual circumstances and changes in legislation. Consulting with us or the Australian Taxation Office (ATO) will provide clarity and help in making informed decisions.

Choosing an Accountant to improve your business

16 January 2024 No Comments

Selecting the right accountant can have a significant impact on your financial health and peace of mind. Take the time to evaluate your options and choose someone who is not only qualified and experienced but also aligns well with your personal and business needs.