Latest accounting and tax updates
- How Small Company Owners Can Avoid Personal Liability and Director Penaltiesby Bipul GyawaliRunning a small company in Australia comes with significant responsibilities, including compliance with tax laws, financial obligations, and corporate governance. Many business owners are unaware… Read More »How Small Company Owners Can Avoid Personal Liability and Director Penalties
- Transitioning from Sole Trader to Company: Key Tax Implications and Benefits for Australian Small Businessesby Bipul GyawaliTransitioning from a sole trader to a company structure is a significant milestone for many Australian small businesses. As your business grows, changing the structure… Read More »Transitioning from Sole Trader to Company: Key Tax Implications and Benefits for Australian Small Businesses
- 2023/24 tax time: key changes and the ATO’s 3 key focus areasby Bipul GyawaliHere is a summary of the key changes that will apply this tax time. Working from home The rules for working from home have not… Read More »2023/24 tax time: key changes and the ATO’s 3 key focus areas
- 2022/23 tax time: key changes for individualsby Bipul GyawaliWelcome to the 2022/23 tax time, where several major changes have been implemented for individuals. Here is a summary of the key changes that will… Read More »2022/23 tax time: key changes for individuals
- Are you an IT professional thinking of changing your work arrangement?by Bipul GyawaliIf you are an IT or other professional who is considering registering a company to do IT contracting jobs for one employer, it is essential… Read More »Are you an IT professional thinking of changing your work arrangement?
- 2021/22 income Tax Update, what is new and important for individuals and sole traders?by Bipul GyawaliCOVID-19 continued to be a challenge for individuals and businesses in 2021/22. Many grants and rebates were provided through state governments to support individuals and… Read More »2021/22 income Tax Update, what is new and important for individuals and sole traders?
- 2020/21 income Tax Update, what is new and important for individuals and sole traders?by Bipul Gyawali2020/21 has been challenging for almost all of us. Australian government came up with the COVID‑19 Economic Recovery Plan with specific measures to help individuals… Read More »2020/21 income Tax Update, what is new and important for individuals and sole traders?
- 2020/21 Tax Return: What is new for small Business?by Bipul GyawaliSmall business income tax offset for small business sole trader or for share of net small business income from a partnership or trust From year… Read More »2020/21 Tax Return: What is new for small Business?
- 5 misconceptions about personal income taxby Bipul GyawaliWe noticed these common misconceptions during our interaction with thousands of individual tax payers over the past several years. Most of these are simple matters… Read More »5 misconceptions about personal income tax
- 2019/20 Tax Return – new working from home rulesby Bipul GyawaliPractice of working from home was on the rise, even before COVID19 caused drastic changes in our work arrangements. Certain expenses related to working from… Read More »2019/20 Tax Return – new working from home rules
- What small businesses should know about Single Touch Payroll (STP)by Bipul GyawaliWhat is Single Touch Payroll (STP)? Single Touch Payroll is a way businesses report payroll information to Australian Taxation Office. Under this new rule each… Read More »What small businesses should know about Single Touch Payroll (STP)
- Working for marketing communications services companies? Know what work related deductions you can claim.by Bipul GyawaliKnowing what work related deductions you can claim and working out the amount accurately will potentially save you thousands of dollars and help to avoid… Read More »Working for marketing communications services companies? Know what work related deductions you can claim.