Super Concessional If you are an employee, you may be entitled to a contribution to your superannuation fund. This contribtuion is taxed at 15% and is classified as a concessional contribution. Interested in joining our team? Why not apply today? About Our Traineeships:- Join the Market Leader in 2016 – Accounting Traineeships Looking […]
Immediate Write off
Immediate Write off With the updated legislation, the ATO allows an immediate deduction of $6,500 that will be able to be deducted immediately off your taxable income for businesses. For individual tax returns, the amount is $300. Interested in joining our team? Why not apply today? About Our Traineeships:- Join the Market Leader in […]
Advertising
Advertising Advertising is possibly the greatest expense that can lead to sales within your business. The advertising of your business’s products will lead to customers walking in your front door. Interested in joining our team? Why not apply today? About Our Traineeships:- Join the Market Leader in 2016 – Accounting Traineeships Looking to study a […]
Business Names
Business Names ASIC has recently taken over the business name registrations and monitors the names. The fees for ASIC business name registrations are: – One year – $33 – Three years – $76 Interested in joining our team? Why not apply today? About Our Traineeships:- Join the Market Leader in 2016 – Accounting Traineeships Looking […]
Late Lodgement
Late Lodgement The ATO has been cracking down on late lodgers of late, with fines escalating to $550 for late lodgements and can grow higher with each day that the returns are late. Interested in joining our team? Why not apply today? About Our Traineeships:- Join the Market Leader in 2016 – Accounting Traineeships […]
Depreciation Schedules
Depreciation Schedules A depreciation schedule is an asset listing that shows the tax values that these assets held. This shows a breakup of the asset, depreciation per asset and the closing written down value. Interested in joining our team? Why not apply today? About Our Traineeships:- Join the Market Leader in 2016 – Accounting […]
KPI’s
KPI’s A KPI is a key performance indicator. These indicators are a set of benchmarks that people are graded upon. These KPIs are good benchmark for performance review of staff. Interested in joining our team? Why not apply today? About Our Traineeships:- Join the Market Leader in 2016 – Accounting Traineeships Looking to […]
Gross Profit Margins
Gross Profit Margins Generally, year to year, unless there has been a significant change in trade, the gross profit percentage per the financial statements are consistent year to year. This percentage outlines the mark up that a business will have on its cost of sales. Interested in joining our team? Why not apply […]
Small Business Benchmarking
Small Business Benchmarking Recently the ATO has updated their computer system, there has been an update of software that allows individual to be benchmark against other individuals with the same job description lodging the return. This piece of software matches deductions compared by industry. Interested in joining our team? Why not apply today? […]
Segregation of pension assets
Segregation of pension assets Editor: The ATO has also recently released a document setting out their views on what a super fund needs to do to ‘segregate’ its pension assets and, therefore, ensure that income from those assets is exempt from tax, without the need to obtain an actuarial certificate. Although the document is only […]
Termination of employment Legal costs
Termination of employment Legal costs Editor: The ATO has released a tax ruling which considers whether employees who are terminated, who then successfully sue their (former) employer for wrongful dismissal and receive a reimbursement for their legal costs, need to include that amount in their assessable income. Basically, an amount received in relation to […]
Profit Loss
By Bottrell Group on December 18, 2013 in Australian Tax Office Updates, Hints & Tips, Interesting Articles, Motivation, Social Media, Uncategorized
Profit Loss Profit & Loss Profit Loss A profit and loss shows the the potential profit or loss that the business has generated for a set period in time. The main items that the profit and loss shows is sales and expenses. If the business is registered for GST, then the Profit & Loss is […]
Carbon Tax Repeal hits roadblock
Carbon Tax Repeal hits roadblock Tony Abbotts carbon tax repeal has hit a roadblock with the first package being rejected. Interested in joining our team? Why not apply today? About Our Traineeships:- Join the Market Leader in 2016 – Accounting Traineeships Looking to study a B.Com at University of Newcastle in 2016? Bottrell Business Consultants […]
Money saving apps for Christmas
By Bottrell Group on December 13, 2013 in Hints & Tips, Interesting Articles, Motivation, Social Media, Uncategorized
Money saving apps for Christmas Gas Buddy Gas Buddy allows you to compare gas prices while locating the nearest gas stations to you. Amazon Price Check Amazon Price Check will automatically compare prices and help you choose the best deal, especially if you want to save some money in time for your Christmas break. Red […]
Qantas Shares hit record low
Qantas Shares hit record low Qantas Airways shares have hit an all time low after the airline last week warned of a first-half loss reaching up to $300 million and announced plans to cut 1000 jobs. Qantas shares had earlier fell as low as 95.25 cents during the day’s trade. The last documented record low […]
