An accounting and business management blog from the front line of accounting
Check out the musings from Mark and his team at Reynolds Sissoev and keep informed about all things accounting, finance, tax, business development and other interesting and useful things.
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Featured Post ...
Vision 6 Email Marketing Metrics Report
Thinking about starting an email marketing campaign? Or perhaps your not getting the results from your email campains in the past.......then check out this report by Vision 6!
Are you finding it difficult to meet your GST obligations on time?
Tax payers that are finding it difficult to meet their GST obligations on time should be contactying the ATO as early as possible....
Consumer price index (CPI) rates
The Australian Bureau of Statistics has issued a media release on CPI rates for the last quarter ending December 2011.
Late income tax returns 2011
During December 2011, the ATO issued default assessment warning letters a number of taxpayers with over¬due income tax returns. These have been sent where the ATO has evidence that these taxpayers have received taxable income in years that taxation returns have not been lodged.
What are should you consider when closing a business.
There are many things to consider when closing a business such as GST, capital gains tax, superannuation, staff and more. The ATO website can provide information if you are thinking of closing your business, but they also recommend you seek professional advice from a tax adviser.
Is there a financial product that financial planners promote that will make money when the sharemarket goes down?
Would you like to know more about the share market and understand how the daily rises and falls of the AORD will effect your investments?
Sale of farm land and temporary cessation of farming activity
If you consider ceasing routine farming activities for a period of time bofore the sale of theland, you should consider Goods and Services Tax Determianion GSTD2011/12 released on 16 November 2011.
Tax evasion alert
Do you have concerns abouth your tax affairs? Did you know that in 2010/2011 financial year there were over 1,518 tax fraud convictions, with fines totalling more than $7 Million!
Not sure what your super guarantee obligations are for your employees?
There are many requirements and obligations as an employer when paying your staff superannuation guarantee. To help you with this, the tax office website can provide with up-to-date information....
Absorbing costs into your selling price when they go up
absorbing the increased costs of steel in your manfacturing - comes straight off profits
Do you keep track of your most important customers?
Meeting with a wholesaler recently - could not tell me their most important customers - how much they spend per year etc
Is your business benchmarked?
The Australian Tax Office has added over 100 industries to their small business bechmarks, including the latest income tax and activity statement information. Use the benchmarks to check how your business is performing. Benchmarks are used by the tax office to detect businesses that may be avoiding paying their fair share of tax.
Have you been affected by the bushfires in Margaret River & Augusta?
A guide to dealing with distaster
Mid Year Tax Planning
One thing is certain - when it comes to planning for taxation, the more things change, the more they stay the same. Steps taken by the Government to simplify taxation in one area invariably leads to complications in another. The new carbon tax is a perfect example.
Beware of tax related email scams
The ATO are seeing noticeable spikes in scam activity during tax time, so it is important to be vigilant in maintaining the security of your information.
Are you buying, selling, renting or building a property?
The tax office has created a new consolidated property page on their website to provide a range of property tax-related information.
Fuel tax credits for gaseous fuels
From 1 December 2011, businesses using gaseous fuels (liquefied petroleum gas, liquefied natural gas and compresssed natural gas) in eligible business activities may be entilted to fuel tax credits.
Post before the due date
Allow sufficient time for your Activity Statement to arrive by the due date.
Why use a CPA specialist?
CPAs are leaders in business, finance and accounting advice. The right to use the CPA designation is only given to degree-qualified professionals who have undertaken rigorous and comprehensive postgraduate study, the CPA Program....
PAYG annual instalment advice
If you are eligible to pay your instalment annually, and you decide to take this option, don't forget to advise the tax department prior to the end of the first quarter. For more information...
