by C&N Accountants | May 5, 2023 | Company Directors, Division 7A Loans, Small Business, Small Business, Tax & Accounting
There are a myriad of ways business owners look for payback from a company they have invested their time and money into from salary and wages, dividends, jobs for underqualified family members to cash advances and personal expenses like school fees and entertainment...
by C&N Accountants | May 5, 2023 | FBT (Fringe Benefits Tax), Small Business, Small Business, Tax & Accounting
Just in time for the Fringe Benefits Tax (FBT) year that started on 1 April, the Australian Taxation Office (ATO) has released new details on electric vehicles. If your employer provides you with the use of a car that is classified as a zero or low emissions vehicle...
by C&N Accountants | Apr 18, 2023 | Cashflow, Small Business, Small Business, Tax & Accounting
Starting a small business and turning a passion or an idea into something bigger is a dream for many Australians. Being your own boss and building something from the ground up can be incredibly rewarding – but it’s not always smooth sailing. Being a small business...
by C&N Accountants | Apr 18, 2023 | Small Business, STP (Single Touch Payroll), Tax & Accounting, Tax Planning
What is Single Touch Payroll (STP)? Small businesses and employers must now report superannuation contributions, income tax withholdings and other payment information via a Single Touch Payroll (STP) system. This system replaced the traditional paper-based reporting...
by C&N Accountants | Mar 24, 2023 | Small Business, Tax & Accounting, Tax Planning, Work From Home
The Australian Taxation Office (ATO) has updated its approach to how you claim expenses for working from home. The ATO has ‘refreshed’ the way you can claim deductions for the costs you incur when you work from home. From 1 July 2022 onwards, you can choose either to...
by C&N Accountants | Mar 24, 2023 | ATO, Holiday Homes, Property Investment, Property Investment Tips, Tax & Accounting, Tax Deductions
Taxpayers claiming deductions on holiday homes are in the ATO’s sights. The ATO is more than a little concerned that people with holiday homes are claiming more deductions than they should and have published the starting questions they will be asking to scrutinise...
