News and Tax Essentials

Set up your access to the Business Portal

Set up your access to the Business Portal

From 20 April 2020, you can enrol with the ATO for the JobKeeper payment using the Business Portal and authenticate with myGovID.You must do this by the end of April to claim JobKeeper payments for April. What do I need to do? Start using myGovID & RAM to access...

$1,500 JobKeeper subsidy to keep staff employed

  Date From 30 March 2020 for six months For employees employed at and from 1 March 2020 First payments in first week of May 2020 Applies to Based on comparable periods: Employers <$1 bn that have experienced a downturn of more than 30% Employers >$1bn that...

Surviving a crisis: Coronavirus and beyond

Surviving a crisis: Coronavirus and beyond

Empty restaurants and retail stores were one of the first signs of the devastating impact the coronavirus on Australian businesses. Within a few months, the virus, now called COVID-19, has gone from being a largely unknown medical condition to one that threatens to...

The Stimulus Package: What You Need To Know

The Stimulus Package: What You Need To Know

Subscribe to our Newsletter The Government has announced a $17.6 billion investment package to support the economy as we brace for the impact of the coronavirus.   The yet to be legislated four part package...

Hourly versus Value Pricing

Hourly versus Value Pricing

Subscribe to our Newsletter The way in which your bill has an effect on your revenue.Today, most businesses use the same method of billings that they have always used as no one knew there were alternatives out...

2019 Federal Budget Summary

2019 Federal Budget Summary

Quick Links - Intro- Personal Taxation- Business Taxation- Superannuation- Opportunities- How the budget impacts you Written by Bryn Robinson • DirectorPublished on 05 Apr 2019Intro There are a number of changes to taxation this year. This includes a reduction in...

Budgeting for Tradies

Budgeting for Tradies

Subscribe to our Newsletter Written by Pauline Campbell • Senior AccountantPublished on 13 Feb 2019Let’s face it, no one likes budgets, however, a budget can be a very helpful tool in creating cash flow and...

What is a TPAR

What is a TPAR

Subscribe to our Newsletter Written by Melissa Zaniol • Administration OfficerPublished on 11 Feb 2019What is a TPAR? Many have contacted us regarding TPARs. What are they? What are they for? Do I need to lodge a...

FBT and the humble Aussie ute

FBT and the humble Aussie ute

Subscribe to our Newsletter Written by Peter Carter • Senior Accountant Published on 18 Dec 2018 What is Fringe Benefit Tax and how is it applied?Fringe Benefits Tax is a tax applied to employers who supply...

Finding the right bookkeeper for my business

Finding the right bookkeeper for my business

Subscribe to our Newsletter Written by Sachin Singh • Bookkeeping Manager Published on 24 Sep 2018 Bookkeepers play a pivotal role in assisting you with running your business. Regardless as to whether your...

Do I Need a Business Plan?

Do I Need a Business Plan?

Subscribe to our Newsletter Written by Rick Fitzpatrick • Director and Founder Published on 30 Jul 2018 There are no exceptions or defendable excuses. All businesses need a business plan that is regularly...

Rental Property – What can I claim?

Rental Property – What can I claim?

Subscribe to our Newsletter Written by Pauline Campbell • Senior Accountant Published on 19 Jun 2018 Tax time is fast approaching and for those who own a rental or investment property the most important question...

Claiming car expenses in 2019

Claiming car expenses in 2019

Subscribe to our Newsletter Written by Peter Carter • Senior Accountant Published on 24 Apr 2018 2019 Update: This blog has been reviewed and updated to contain information relevant to claiming car expenses in...

5 of the Best Marketing tips you will read

5 of the Best Marketing tips you will read

Subscribe to our Newsletter Written by Fitzpatrick Group • Marketing Officer Published on 12 Jul 2017 The world of digital marketing is ever changing. New ideas and ways to engage and reach prospective clients...

Understanding Capital Gains Tax

Understanding Capital Gains Tax

Subscribe to our Newsletter Written by Pauline Campbell • Senior Accountant Published on 21 Jun 2017 If you are reading this, it’s probably because you may not be fully understanding capital gains tax. Not to...

How to: Deliver Great Customer Service

How to: Deliver Great Customer Service

Subscribe to our Newsletter Written by Bryn Robinson • Director Published on 14 Jun 2017 No matter what industry you operate in, it is important to have great customer service. This is the service you provide to...

Hobby or Business: Online Selling

Hobby or Business: Online Selling

Subscribe to our Newsletter Written by Ken Bond • Consultant Published on 31 May 2017 More and more people are turning to the internet to sell. Whether it be jeans you’ve only worn once, or creative works you put...

Can I claim self education expenses?

Can I claim self education expenses?

Subscribe to our Newsletter Written by Pauline Campbell • Senior Accountant Published on 25 May 2017 What courses are eligible to claim self-education expenses?So now you must be thinking, what constitutes...

Tips for running your business from home

Tips for running your business from home

Subscribe to our Newsletter Written by Bryn Robinson • Director Published on 18 May 2017 Building and running a successful business can a be an incredibly rewarding experience. It takes time, determination, and...

7 ways you can grow your business

7 ways you can grow your business

Subscribe to our Newsletter Written by Rick Fitzpatrick • Director and Founder Published on 18 May 2017 If you are looking to grow your business, you are going to have to commit a portion of one of your most...

Is your home exempt from Capital Gains Tax?

Is your home exempt from Capital Gains Tax?

Subscribe to our Newsletter Written by Ken Bond • Consultant Published on 13 Feb 2017 If you have multiple residences, you can generally only claim full capital gains tax (CGT) exemption from the dwelling that...

Tips to simplify your bookkeeping

Tips to simplify your bookkeeping

Subscribe to our Newsletter Written by Sachin Singh • Bookkeeping ManagerPublished on 18 Jan 2017Bookkeeping is time-consuming, and you’d rather spend that time working in your business to generate income. What...

Cloud Accounting – What’s all the hype?

Cloud Accounting – What’s all the hype?

Subscribe to our Newsletter Written by Bryn Robinson • Director Published on 18 Jan 2017 Do you want to save time and money and spend more time growing your business? Of course you do. Let me tell you more. Cloud...

Why your website isn’t helping and how to fix it

Why your website isn’t helping and how to fix it

Subscribe to our Newsletter Written by Fitzpatrick Group • Bookkeeping ManagerPublished on 10 Jan 2017You’ve just finished building your website for your business, you’ve paid top dollar to a web designer to have...

Exempt income not subject to tax?

Exempt income not subject to tax?

Subscribe to our Newsletter Written by Peter Carter • Senior Accountant Published on 19 Dec 2016 In Australia, there is a certain income that is not subject to tax. It may be possible that you possess income that...

Getting access to your Superannuation

Getting access to your Superannuation

Subscribe to our Newsletter Written by Michael Rodriguez • Bookkeeping Manager Published on 08 Dec 2016 At some point, you may find yourself thinking, “How much money do I need to retire? Can I work part-time and...

Can you boost your Superannuation?

Can you boost your Superannuation?

Subscribe to our Newsletter Written by Michael Rodriguez • Bookkeeping Manager Published on 07 Dec 2016 If you are concerned with how comfortable you would like to live beyond retirement, you may be thinking...

Keeping Records for Tax: What do you need?

Keeping Records for Tax: What do you need?

Subscribe to our Newsletter Written by Fitzpatrick Group • Senior Accountant Published on 02 Dec 2016 One thing to keep in mind is your work related expenses. If your work related expenses total $300 or more, you...

What happens if I don’t pay my tax debt?

What happens if I don’t pay my tax debt?

Subscribe to our Newsletter Written by Ken Bond • Consultant Published on 02 Dec 2016 Our best piece of advice to anyone who wants to avoid being in tax debt is to just stay on top of, and pay your taxes. If you...

Lodging Tax Return. When do I do it?

Lodging Tax Return. When do I do it?

Subscribe to our Newsletter Written by Fitzpatrick Group • Senior Accountant Published on 14 Nov 2016 The financial year in Australia is from the 1st July to the 30th June the following year. Any Income and...

What Business Structure is right for you?

What Business Structure is right for you?

Subscribe to our Newsletter Written by Rick Fitzpatrick • Director and Founder Published on 14 Nov 2016 So you’re all excited, you’re going into business and can’t wait to start.To make sure you get off on the...

What is an Audit?

What is an Audit?

Subscribe to our Newsletter Written by Peter Carter • Senior Accountant Published on 09 Nov 2016 Auditors assess a set of company accounts to determine if they present a true and fair presentation of the...

What happens when you use a Bookkeeper?

What happens when you use a Bookkeeper?

Subscribe to our Newsletter Written by Sachin Singh • Bookkeeping Manager Published on 09 Nov 2016 You went into business because you were good at something; you are passionate about it and wanted a certain...

Payment Arrangements with the ATO

Payment Arrangements with the ATO

Subscribe to our Newsletter Written by Fitzpatrick Group • Bookkeeping Manager Published on 18 Oct 2016 2019 Update: This blog has been reviewed and updated to contain information relevant to payment...

24 Hour Fight Against Cancer Stats and Facts

24 Hour Fight Against Cancer Stats and Facts

Our 24 Hour Fight Against Cancer Stats and Facts On the 15th and 16th of October 2016, Fitzpatrick Group participated in the 24 Hour Fight Against Cancer. It was a memorable event for our team, and a great honour to be a part of. We are extremely proud to have been...

Selling Property over $2 Million

Selling Property over $2 Million

Subscribe to our Newsletter Written by Michael Rodriguez • Senior Accountant Published on 13 Oct 2016 Are you selling or looking at selling property that is valued at $2 million or more? Those who are looking at...

Incentives for you to invest in an ESIC

Incentives for you to invest in an ESIC

If you are thinking about investing, looking to invest, or have already invested in an Australian start-up, you may or may not be aware of what incentives are available to you.. On July 1, 2016, the government provided two new tax incentives to encourage investments...

5 Marketing tips for Small Business Owners

Our top 5 Marketing Tips for Small Business Owners can help you to demystify one of the most crucial aspects of building a successful business - First, let's look at some misconceptions about marketing in 2018. Many business owners who want to promote their business...

Lost Tax File Number – Is it serious?

Lost Tax File Number – Is it serious?

Subscribe to our Newsletter Written by Bryn Robinson \u2022 Bookkeeping Manager Published on 27 Sep 2016 When you first receive your TFN, you are told how important it is to keep it secure and private. Despite...

When to report a Capital Gain

When to report a Capital Gain

There is a lot of confusion around the timing of when a capital gain is made. The point at which a capital gain or loss is made is called a CGT Event. It is important to establish the timing of a CGT Event as it may affect how your tax liability is calculated and what...

Claiming car expenses for your tax return

Claiming car expenses for your tax return

The use of a car that you owned, leased, or hired in the year can be claimed if you used it for any work related purposes. Even if the car is not registered in your name, private arrangements can be taken into account. If the car was used as your own and you paid for...

5 Step guide to new rental property

5 Step guide to new rental property

So you bought a rental property, and it’s an exciting time for everyone involved. However, you got lost in your excitement and covered in paperwork by the real estate agents, lawyers, conveyancers, mortgage brokers & Banks.   Now it is tax time and you have...

Understanding Fringe Benefits Tax

Understanding Fringe Benefits Tax

Fringe benefits tax was introduced in 1986 by the Australian Taxation office to combat the then growing non-cash benefit schemes that some employees where receiving. Fringe Benefits Tax is calculated on many things and is considered the catch all provision that taxes...

What do you need for your tax appointment?

What do you need for your tax appointment?

Being prepared for your tax appointment will save a lot of time and energy for you and your accountant. Having all the right information and documents will also mean you can claim the best tax refund possible. But what is the right information? If you are a new client...

3 Changes for Employers from 1st July 2016

3 Changes for Employers from 1st July 2016

We are already a month into the new financial year. So employers need to be aware of changes to compliance in workplace relations, tax and superannuation. Changes came into effect on 1 July. You can’t afford to get caught out by missing your obligations! We’ve...

9 tips for SBE on Immediate asset deductions

9 tips for SBE on Immediate asset deductions

On the 12 May 2015 at 7.30pm the Government announced that it was introducing new accelerated depreciation rules for small Business entities (SBE). The rule originally allowed any asset purchased for less than $1,000 to be immediately written off. Under the new rules...

Four million Aussies won’t get tax back until August.

Four million Aussies won’t get tax back until August.

Delayed Tax returns caused by "customer data migration". That time of the year has arrived again, it's time to do your taxes. While some will be looking forward to getting their returns; others won't be so keen, finding themselves paying more. However there's a...

Buying your own home

Buying your own home

If you are a potential first home buyer (FHB) you may be feeling disheartened by doom and gloom in the media as to whether younger generations will ever own their own home. There is no doubt house price to salary ratio was lower in the 70s and 80s - often seen as an...

The Sandwich Generation

The Sandwich Generation

Are you a member of one of the fastest growing demographic groups: the Sandwich Generation? Well you’re not alone. And the sandwich generation is growing! One notable authority on the subject has categorised three demographic groups affected by this issue:  ...

Starting Over…

Starting Over…

In Australia today around 1 in 3 marriages can be expected to end in divorce. With 77% of Australian couples also living together before getting married (and let’s face it - some don’t go the distance) the real impact of relationship breakdowns is likely to be much...

Maximise Tax Deductions

Maximise Tax Deductions

According to the ATO there are around 1.9 million property investors in Australia and 2.7 million rental investment properties. Surprisingly, many landlords fail to claim all allowable tax deductions simply because they are unaware of all the expenses they can claim...

When is my BAS due?

When is my BAS due?

Business Activity Statements (BAS) can either be lodged monthly or quarterly. Lodgement dates depend on whether you, the client, lodge your BAS or whether Fitzpatrick Group lodges it. Monthly Statements A monthly BAS is generally due at the same time regardless of...

Are you and your staff time poor?

We’ve helped hundreds of businesses to improve and refine their processes to give them back time to improve the quality of their service. Our first consultation is free, with no obligations or pressure to work with us beyond our first meeting.

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