Accountable Business Solutions News

Superannuation year end planning for the 2016/17 financial year

June 9, 2017The end of financial year always seems to crop up faster than it should. Given the impending July 2017 superannuation changes, being on top of your end of financial year planning is as important as it has ever been. This year it is essential that you consider maximizing the existing contributions limits for superannuation before...
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ATO focus on rental property deductions

July 30, 2015The ATO is increasing its focus on rental property deductions for 2014/2015 and will be writing to rental property owners in popular holiday locations to remind them of their tax obligations. In particular, the ATO is paying close attention to: Excessive deductions claimed for holiday homes Husbands and wives spitting rental income and deductions for...
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Hidden risk in amending BAS

June 3, 2015These days, with many businesses wanting to save a few dollars, they are calculating and lodging their own BAS. Generally, these BAS’s are prepared from their internal records according to what they believe are the relevant figures. At the end of the financial year, they present their internal accounts to their accountant to prepare their...
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Taxable payments annual report

May 11, 2015If you are a business in the building and construction industry and have made payments to contractors for building and construction services, you are required to file the taxable payments annual report by 28 August. You can obtain a printed copy of the annual report and instructions by visiting ATO website, referring to Taxable payments...
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Fuel tax credit rates have increased

February 5, 2015Fuel tax credit rates have increased for eligible fuel acquired from 2 February 2015, due to a rise in the consumer price index (CPI). Rates are indexed twice a year in line with the CPI – generally on 1 February and 1 August. Rates change regularly and we have the following information and tools to...
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Employer Obligations

January 8, 2014It’s a new year and we’re all back to business. Make sure that you’re up to date with your responsibilities as an employer regarding the Fringe Benefits Tax, Payroll Tax, Workcover, and the Superannuation Guarantee.   Fringe Benefits Tax FBT is paid by you, as the employer.  You will be an employer for FBT purposes...
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Tax compliance with your Ballarat tax accountant

December 8, 2013No other than Albert Einstein purportedly once said that one of the hardest things in the world to understand is income tax!  Well, any Chartered Accountant can appreciate that tax compliance is complex, and over the past few years in Australia this has become more and more apparent. So what can businesses, particularly small businesses,...
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Why a chartered accountant?

November 15, 2013When you work with a Ballarat Chartered Accountant, you work with someone who does more than merely think through the numbers.  At ABS, we create solutions, so not only is your business compliant, but we strive to make it the most successful it can be. To be a Chartered Accountant, our ABS accountants have completed...
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Accountants Ballarat

October 16, 2013You told us you wanted our Chartered Accountants to do more … well here we are! Accountable Bookkeeping Solutions has evolved to become a full service accounting firm focused on business. Why? Because you loved our bookkeeping services so much, you kept on asking for more and more. Accountable Business Solutions has been formed to...
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