Tips and news for business accounting, tax accounting and SMSF management.
- Rental Property for Investors Investment property
Do you know which expenses are non deductible?
- Main Residence Exemption & Capital Gains Tax
A dwelling owned and occupied by a person is generally free from capital gains tax. A dwelling is a unit of residential accommodation and includes a flat, home unit, caravan, …
- Setting up a Business Structure for a Contractor or Consultant
When you are starting a contracting or consulting business it is important to determine the correct status of the work arrangement and apply the rules relating to income derived and …
- Conditions of Release of Superannuation Benefits & Starting a Pension
Conditions of release
A member of a superannuation fund can access his or her benefits after attaining preservation age which starts from the age of 55. There is a gradual increase …
- Business Costs & Record Keeping
Cost accounting systems provide information about recording and tracking costs for products and services. The objective is to ensure that relevant information is available to business owners and managers for …
- Allowances and Expense Reimbursements
Generally an allowance is a payment of a predetermined amount to cover an estimated expense and the unused amount is not required to be repaid. Most types of allowances paid …
- Preparation of Accounts for Small Business
Small businesses face many challenges and one of them is to set-up proper accounting information systems. Your financial accounting information system should be designed to provide accurate and timely information …