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17 Jun, 20

Home office expenses

Source: https://www.ato.gov.au/ If you’re an employee who works from home, you may be able to claim a deduction for expenses you incur relating to that work. These can be additional running expenses such as electricity, the decline in value of equipment or furniture and phone and internet expenses. If your home is your principal place […]

17 Jun, 20

Accessing your income statement or payment summary

Source: https://www.ato.gov.au/ How you get your end of financial year information from your employer showing your earnings for the year (also known as an income statement or payment summary) depends on how your employer reports your income, tax and super information to us. You will be provided with either: an income statement – if your […]

17 Jun, 20

Claiming mobile phone, internet and home phone expenses

Source: https://www.ato.gov.au/ If you use your own phone or internet for work purposes, you may be able to claim a deduction if all of the following conditions apply: you spent the money yourself the expense is directly related to earning your income you must have a record to prove it. You can’t claim a deduction […]

17 Jun, 20

Tax tips: How the coronavirus can help you get a larger refund

Source: https://thenewdaily.com.au/ The coronavirus pandemic has shifted the way we conduct our personal finances, and with June creeping up, tax time is no exception. Strict social distancing measures have forced millions of Australians to work from home for the first time, throwing up a raft of new deductions. Mozo.com.au consumer advocate Tom Godfrey told The New […]

15 Jun, 20

What is MOSS? Calculating VAT when selling electronic services

Want some special guidance on how to treat VAT correctly for your automated electronic service supplying businesses? No wonder, you have landed at the right page. Here you’ll find some detailed tips from expert tax accountants Melbourne, after which you’ll gain a deep understanding of various dynamics of VAT. What’s VAT? VAT stands for Value […]

12 Jun, 20

Accountants to the rescue during COVID-19

Source: https://www.accountantsdaily.com.au/ While frontline health professionals have been saving the lives and health of Australians during the COVID-19 disruptions, accountants have been working flat out to save the businesses and livelihoods of their clients. Major Government stimulus packages such as JobKeeper and the business cash flow boost payments have been critical in keeping many businesses […]

12 Jun, 20

Lessons for the profession from the coronavirus

Source: https://www.accountingtoday.com/ While the coronavirus pandemic has accountants scrambling to safeguard their people and keep up with new client concerns and legislative updates, the crisis has also given the profession the opportunity to learn some crucial lessons that can only strengthen accountants’ roles in an uncertain future. We asked a collection of accounting’s thought leaders […]

12 Jun, 20

Small businesses fail to seek cash-flow management help

Source: https://www.mybusiness.com.au/ Less than a sixth of small and medium businesses are engaging their accountants for assistance with cash-flow management despite its importance, says a non-bank lender. According to a Scottish Pacific report, SME Growth Index, only 16.1 percent of SMEs are seeking cash-flow management advice from their accountants. Scottish Pacific chief executive, Peter Langham told […]

11 Jun, 20

MYOB has acquired payment processing provider Paycorp for $48 million

After showing interest in Paycorp, Australian Multinational Corporation, and a leading Accounting software company MYOB had announced a deal of $48million with Paycorp. Resulting in, the accounting of MYOB income for the 2016 financial year- falls in line with the official statement that the total revenue of the company was boosted by 13 % to 3704 […]

08 Jun, 20

Time To Think About EOFY Important Actions For 2020

No wonder, 2019-2020 has settled in our memories with unforgettable experiences. But with the end of this financial year, you need to review ‘what is your financial position right now.’ For instance, everyone is well-acquainted with how we are dealing with the global pandemic COVID-19 impact. Hence, there’s nothing wrong with saying that this year […]

Home office expenses

Accessing your income statement or payment summary

Claiming mobile phone, internet and home phone expenses

Tax tips: How the coronavirus can help you get a larger refund

What is MOSS? Calculating VAT when selling electronic services

Accountants to the rescue during COVID-19

Lessons for the profession from the coronavirus

Small businesses fail to seek cash-flow management help

MYOB has acquired payment processing provider Paycorp for $48 million

Time To Think About EOFY Important Actions For 2020

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