News

The Rules For GST And Food

Owners of cafes and restaurants, and any businesses that sell or prepare food, need to be aware of when to charge GST. Unfortunately, it is not often a simple yes or no. Navigating the world of food and GST can be like weaving through a maze. A delicious maze, albeit.

What Changes As A Small Biz Owner Once My Kid Turns 18

I’ve got some good news for you… No, I can’t promise you they’ll be safe and sound. But I can give you some pleasing financial info. While your kid is gallivanting around, we can work out how to use those kids to our benefit in your business.

What’s The Tax Benefit Of A Negatively Geared Property?

With a negatively geared property, you’re going to have generated a loss, and that loss is then used to reduce your taxable income and increase your tax refund at the end of the year.

Super Splitting With Your Spouse

Super splitting is important when one member of a couple has a much higher super balance. It is also beneficial for couples that have a large age gap between them. Also, people with relatively low superannuation amounts will benefit from the ability to split super contributions with their spouse.

How Much Can I Save By Purchasing Property In A SMSF?

Quite a few years ago, I did some calculations on having a geared property within super versus a market linked ungeared fund portfolio.

New Rules For Gift Card Expiry Dates

In Australia, around 34 million gift cards are sold each year with an estimated value of $2.5 billion. On average, an estimated $70 million is lost because of expiry dates.

Changes to Courier and Cleaning Services Reporting

If you are a business that provides cleaning or courier services, you will now need to lodge a Taxable Payments Annual Report (TPAR) to inform the ATO about your payments to contractors.

Important Tax Dates: December 2018

Dates to remember in December..

December 21 – November Monthly Instalment Activity Statement (IAS) due