by Michelle Adams | Nov 11, 2015
We all tell ourselves; ‘I’m an entrepreneur. I’m innovative, efficient, knowledgeable, tech savvy... what can an Accountant do for me that I can’t do myself …and for a fraction of the price?’ We’ve all been there right?
Many small business owners start out cutting corners by doing their own tax returns, in addition to doing just about everything eread more...
by Michelle Adams | Dec 4, 2015
As you would probably know from being caught out before, the dreaded FBT has a one way attraction with gifts, entertainment and other benefits. For a Small Business employer, there is an effective 40% added cost to provide a tax deductible benefit that is subject to FBT compared to a non-deductible benefit that is exempt from FBT.
Thankfully though, Santa’s elves have left some sneakread more...
by Abacus Angels | Jun 10, 2019
Instant Asset write-off thresholds
The Instant asset write-off threshold for small businesses with a turnover of up to $50 million has been increased from $20,000 to $30,000, and has been extended through until June 2020. This means that you can claim the entire cost of the asset up front rather than depreciating it over numerous years.
Businesses with a turnover of up to $50 millionread more...
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