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Accounting

5 Steps in creating a personal budget that works

February 12th, 2017

One of the most important foundations to Financial Success is getting control over your finances to pay down debt faster, and/or accelerate your savings capacity. The first and most vital step towards this is creating a personal budget. A budget allows you to gain visibility with money in (income) and money out (expenses) and makeread more

ATO Simplifies BAS for Small Businesses

January 23rd, 2017

Good news to start the new year! The Australian Tax Office (ATO) has announced that they are working on making the Business Activity Statement (BAS) simpler for small businesses. The ATO said that they have “listened to the concerns of entrepreneurs, tax professionals, and software providers that BAS has too many GST labels,” making recordread more

5 Reasons Why You Need an Accountant for Your Business

July 6th, 2016

Entrepreneurs are often lauded for their "jack-of-all-trades" approach to starting their business - doing what they can themselves in the early stages to keep costs down and stamp their mark on their new business venture. One service in particular that is overlooked, however, is that of an accountant. Aside from needing someone to take careread more

Common Tax Deductions You Didn’t Know You Can Claim

June 13th, 2016

As a smart taxpayer, it would be helpful to know some of the deductions you can claim against your tax. An Australian accounting firm surveyed their senior accountants to know what the most forgotten deductions are on individual returns and have come up with the list below: 1.       Expenses on Managing Taxes If you usedread more

8 Invaluable Skills of CFOs that SMEs Need

March 23rd, 2016

Most SME business owners hesitate at the thought of hiring a CFO for their growing company, believing that only large businesses need and can afford a CFO. However, there’s lots of reasons why every business, even SMEs, need the expertise of a CFO. A CFO is a highly competent and experienced financial executive that helpsread more

Make the Most out of the Christmas Party and Keep it Tax-Free

October 21st, 2015

The Christmas season is fast approaching and with this comes our festive moods and celebration preparations. As the holidays are getting near, companies are also preparing for their respective festive season parties. It is important to celebrate and enjoy the festivities but it is also important to keep in mind a few pointers in orderread more

Trading on eBay? Learn if You Have Paid Your Appropriate Tax Dues

October 18th, 2015

Last year, McKinley Plowman reported that the ATO will be watching over business transactions held in eBay. It will now be making good on its promise. Are you selling or planning on conducting business on eBay? If yes, then it is important to know the rules mandated in order to avoid penalties and complications. Theread more

Nominate a Business for the 2015 JBA Business Awards

September 21st, 2015

The North West Metropolitan Business Awards which recognises businesses and their achievements is here once again. The Joondalup Business Association, along with the major sponsor Commonwealth Bank, will announce the winners on the 20th of November 2015. The Gala Presentation Night and dinner celebration is fast approaching and will be held at the Joondalup Resortread more

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