By Jarrod Rogers CPA We often receive questions from foreign owners of Australian properties like: "I am a resident of the UK and I own a property in Melbourne. I do not live in Australia and do not have Australian citizenship. I work and pay tax in the UK. Do…
If the ATO issues a document like a business activity statement (BAS) then they expect it to be lodged on time and any payment made in full. You cannot just ignore BAS statements because your business: Has ceased to operate No longer has a turnover over the GST threshold (currently…
Most small business owners hate paperwork and tax. What we do is help them reduce both. In fact, we recently met a small business owner who used to have to allocate a whole day each quarter to do his BAS. We showed him how to do it in five minutes…
By Jarrod Rogers CPA As with all public information on this website, the following article is for information only. If you want advice specific to your circumstances you need to be a client of Beyond Accountancy. We are currently taking on new clients. "Do I have to pay tax on…
It wouldn't take Sherlock Holmes to conclude that people are worried about the global economy, and its effect on their superannuation. Between 2001 and 2007, the Australian Stock Exchange was booming, and super was growing with it. The so-called "balanced" investment options became decidedly unbalanced with allocations to shares pushing…
How to reduce your tax before June 30 Here are some simple strategies to gain a financial advantage before June 30. I've summarised these in a YouTube video. Make a personal super contribution Open a first home saver account Work out the tax implications of health insurance Pre-pay your tax…
Have you lost important tax paperwork? Finding a replacement is not as hard as your think. This article shows the quickest way to find lost tax records, including old PAYG Payment Summaries (aka lost group certificates). Key points The ATO has "pre-filling reports" which are available on-demand for the 2008-09…
As the deadline approaches for the latest quarterly business activity statement (BAS), there will be many business owners starting to stress. The quarterly chore of lodging a BAS holds as much anticipation as an appointment with the dentist. Where are those receipts I was keeping? Can I claim GST on…
In this YouTube video I'll explain how much tax benefit you get from your tax deductions. You don't get $100 back for every $100 of deductions - it's actually only a percentage. Watch the video to learn: - why being reimbursed by your employer for work expenses is probably 3…
You can download a summary checklist of what to bring in pdf format: Client Checklist - What Should I Bring Documents to bring to your accountant Clients often ask us what documents they should have in preparation for their tax appointment. One of the simplest ways to work out what…