Insights

What is Petty Cash It is a common misconception among small business owners, particularly Tradies, that money withdrawn from the company account can be expensed under the guise of “petty…

I don’t think a day would go by when we are not asked about PAYG Instalment.  It causes a great deal of confusion and distress for taxpayers.  The tax office…

Most of you would have heard of Franking Credits.  You might know that it is something to do with tax, company shares, and important enough to significantly impact the Australian…

Going into business with another person is a major commitment, one which I would consider equivalent to entering into a marriage.  While a business partnership may not be “until death…

It’s that time of year again, and I will no doubt be having the same conversation with many of my client’s children who are new at lodging tax returns.  They…

I am very much aware that when accountants refer to the Tax Act people’s eyes gloss over, they feel uncomfortable and would prefer to be thinking of anything else.  As…

I really hate speaking in the ATO language which involves quoting legislation and expecting the Australian taxpayer to understand what they are talking about.  Like Division 7A, there really is…

A question we get asked by business owners is should they be providing a fully paid car for their employees (subject to fringe benefits tax), or instead providing them with…

Explaining how a Trust structure works to a client who does not have a legal or accounting background is difficult.  In fact, explaining a trust to someone who does have…