News and Tax Essentials
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...
Supporting Apprentices and Trainees and the JobKeeper Payment
Questions and Answers 1. What is the JobKeeper Payment?The JobKeeper Payment provides a wage subsidy of $1,500 per fortnight per eligible employee for up to six months.The payment will support employers to maintain their connection to their employees and keep people...
$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...
The Second $66.1 bn Stimulus Package: What You Need To Know
The Government yesterday released a second, far reaching $66.1 bn stimulus package that boosts income support payments, introduces targeted changes to the superannuation rules, provides cash flow support of up to $100,000 for small business employers, and relaxes...
The Second $66.1 bn Stimulus Package: What You Need To Know
The Government yesterday released a second, far reaching $66.1 bn stimulus package that boosts income support payments, introduces targeted changes to the superannuation rules, provides cash flow support of up to $100,000 for small business employers, and relaxes...
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...
Super guarantee Amnesty: Now is the time to get payroll right
The superannuation guarantee (SG) amnesty provides employers with a one-off opportunity to “self-correct.” Now is the time to ensure that your payroll is correct and there are no hidden SG issues looming. The amnesty applies from 24 May 2018 (the date of the original...
AUSkeys are being replaced this month, are you ready?
After 27 March 2020, you’ll no longer be able to use AUSkey and Manage ABN Connections. Instead, you will need myGovID & Relationship Authorisation Manager (RAM). You will need to use myGovID & RAM if you use the Business Portal for your business to lodge...
The Stimulus Package: What You Need To Know Copy
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...
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...
How to manage an apprentice within your business Copy
Subscribe to our Newsletter Apprentices are normally very young and most likely this would be their first full-time job and as an employer, you need to keep this in mind when dealing with them on a daily basis....
What you need to know before starting your business
Subscribe to our Newsletter Starting a business is no small decision. Many entrepreneurs manage to raise capital initially but money is not just enough. A sound business model that generates consistent cash flows...
How to: Building empathy to better serve your clients
Subscribe to our Newsletter One thing is common in all long-lasting business relationships, empathy, and it is absolutely crucial to building a solid rapport with your clients. Empathy is a link that remains...
5 things to think about when changing your software setup
Subscribe to our Newsletter Changing software is a big task, it is time-consuming to find the most appropriate one, to move data, train staff, update procedures and implement. It takes a lot of time and...
Making changes to accounting records in the cloud
Subscribe to our Newsletter Written by Sachin Singh • Bookkeeping Manager Published on 11 Jun 2019 How many people recall a time where we needed to ensure that all transactions were recorded at the end of the...
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...
I borrowed money from my company – Is it a loan?
Subscribe to our Newsletter When you draw more money out than you have declared as either salary and wages or dividends then you have borrowed from the company.If you don’t repay this money before the due date of...
How to find out if a contractor is licensed
Subscribe to our Newsletter It is important to protect yourself and your investment by making sure you hire the right people for doing the job. This is why it is important to know how to find out if a contractor...
How to stop mates rates from killing your business
Subscribe to our Newsletter Written by Chantelle Warner • Business Manager Published on 15 May 2019 Running a small business in any trade industry can be hard and competitive, your clientele usually begins with...
Choosing the right business structure for you
Subscribe to our Newsletter Written by Chantelle Warner • Business Manager Published on 09 May 2019 When starting a business, choosing the right business structure for you involves many factors that require your...
3 key traits that make a bookkeeper great
Subscribe to our Newsletter Many see bookkeepers as the backbone to businesses and communities all around the world, as they are reliable for many important financial matters that are crucial to the ongoing...
Why should you hire a professional bookkeeper?
Subscribe to our Newsletter Written by Sachin Singh • Bookkeeping Manager Published on 30 Apr 2019 Many business owners believe that bookkeeping is no longer needed when they can record all their bank...
How do I identify common business scams?
Subscribe to our Newsletter Written by Peter Carter • Senior Accountant Published on 23 Apr 2019 Have you ever been contacted via phone, via text message or email that looks suspicious, leaving you thinking, is...
The do’s and don’ts of managing client relationships
Subscribe to our Newsletter Written by Frankie Buller • Client Services Manager Published on 17 Apr 2019 Understanding the do's and don'ts of managing client relationships is one of the most important parts of...
4 tips on managing and developing your team
Subscribe to our Newsletter Written by Michael Rodriguez • Senior AccountantPublished on 12 Apr 2019The responsibility of managing and developing your team ultimately lies with the business owner or the manager....
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...
Apps, Phone Safety and Data Security
Subscribe to our Newsletter Written by Sachin Singh • Bookkeeping ManagerPublished on 22 Mar 2019Everyone wants to have new phones, but have you thought about what you should be doing with your old phones. Many...
Thinking about hiring an apprentice or trainee
Subscribe to our Newsletter Written by Pauline Campbell • Senior AccountantPublished on 21 Mar 2019Hiring an apprentice or trainee can be beneficial for any business. Not only are they good for your bottom line...
Why Tradies Need to Review Their Internal Processes
Subscribe to our Newsletter Written by Chantelle Warner • Business ManagerPublished on 18 Mar 2019With technology increasingly growing and software applications becoming more common in businesses, tradies are no...
The importance of checklists in the professional world
Subscribe to our Newsletter Written by Fitzpatrick Group • Marketing OfficerPublished on 11 Mar 2019The humble checklist has withstood the test of time as one of the most beloved tools available to people who...
5 great brand management tips for tradespeople in business
Subscribe to our Newsletter Written by Fitzpatrick Group • Marketing Officer Published on 07 Mar 2019Branding is essential to any business owners playbook. When done correctly, it defines who you are amongst your...
Pricing your services as a contractor
Subscribe to our Newsletter Written by Laila Mir • AccountantPublished on 04 Mar 2019It is difficult to determine how much to charge for a service. If the prices are set too high, you might price your customers...
What do you know about single touch payroll?
Subscribe to our Newsletter Written by Melissa Zaniol • Administration OfficerPublished on 18 Feb 2019Many business owners and payroll officers would by now be hearing the term Single Touch Payroll or STP...
What can tradies claim on tax?
Subscribe to our Newsletter Written by Laila Mir • AccountantPublished on 15 Feb 2019Many tradie business owners find themselves working overtime, which often leaves tax as the last thing on their mind....
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...
Can I claim computers and software in my business?
Subscribe to our Newsletter Written by Peter Carter • Bookkeeping ManagerPublished on 11 Feb 2019The short answer is yes.Computers, Laptops, Tablets and phones can all be claimed as a deduction within your...
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...
Managing Client Expectations as a professional services business
Subscribe to our Newsletter Written by Frankie Buller • Client Services Manager Published on 08 Feb 2019 Working with clients can sometimes be a difficult task, especially if your client is “hands-on” or likes...
3 things all successful business owners share in common
Subscribe to our Newsletter Written by Michael Rodriguez • Senior Accountant Published on 06 Feb 2019 Owning a business is something that is perfectly achievable for pretty much anyone and everyone at some stage...
Should professional service businesses audit internal processes?
Subscribe to our Newsletter Written by Chantelle Warner • Business Manager Published on 04 Feb 2019 Regardless of the industry you are in, it's always important to review your internal processes on a regular...
Why an Espresso Martini’s a great post-work week treat
Subscribe to our Newsletter Written by Chantelle Warner • Business Manager Published on 30 Jan 2019 We have all been there, its Friday afternoon and you just need to sit down and enjoy a nice guilty pleasure...
Are you employing a contractor or employee
Subscribe to our Newsletter Written by Rick Fitzpatrick • Director Published on 25 Dec 2018 A recent landmark court case decision was made in favour of ex-Foodora employee, Josh Klooger, by the Fair Work...
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...
5 Questions you should be asking your accountant
Subscribe to our Newsletter Written by Laila Mir • Accountant Published on 13 Dec 2018 Many people nowadays are relying on free or inexpensive online small-business accounting tools instead of investing the...
5 tactics you can use to deal with angry clients
Subscribe to our Newsletter Written by Frankie Buller • Client Services Manager Published on 11 Dec 2018 If you have ever had a job where you interact with clients on a regular basis, chances are you have had to...
Fringe Benefits Tax (FBT): An explainer
Subscribe to our Newsletter Written by Christopher Cruz Published on 11 Dec 2018 Being an employer carries with it a number of additional taxes. Beyond withholding tax from an employee’s individual income, you...
5 signs your client invoice isn’t getting paid
Subscribe to our Newsletter Written by Pauline Campbell • Senior Accountant Published on 06 Dec 2018 As a business owner, if you know only one thing, you know that Cash flow is king. Cash flow is an absolutely...
5 Ways you can use Xero to improve your business
Subscribe to our Newsletter Written by Michael Rodriguez • Senior AccountantPublished on 03 Dec 2018 Does manual handling of data entry bog you down?Would you like the ability to monitor your cash...
Why DIY bookkeeping and accounting could hurt your business
Subscribe to our Newsletter Written by Sachin Singh • Bookkeeping Manager Published on 26 Nov 2018 At Fitzpatrick Group, we have been noticing a common trap that some business owners are falling into. Some...
24 Hour Fight Against Cancer at Narellan Town Centre
Subscribe to our Newsletter Written by Fitzpatrick Group • Marketing Officer Published on 03 Oct 2018 On the 25th and 26th September 2018, Fitzpatrick Group – along with Coutts Solicitors and Conveyancers, and...
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...
What happens if you connect the ATO to your myGov?
Subscribe to our Newsletter Written by Chantelle Warner • Business Manager Published on 19 Sep 2018 The ATO can now be linked to your myGov account to allow all previously posted correspondence to be sent...
Xero 2 Step Authentication compulsory in Aus starting 11 September
Subscribe to our Newsletter Written by Bryn Robinson • Director Published on 05 Sep 2018 Xero and Fitzpatrick Group – both champions in Cybersecurity.Xero further enhances their multi-layer security, making 2...
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...
Working Capital Management – Are your financing functions well managed and cost-effective?
Subscribe to our Newsletter Written by Sachin Singh \u2022 Bookkeeping Manager Published on 23 Jul 2018 2019 Update: This blog has been reviewed and updated to contain information relevant to working capital...
Changes to the Payroll Tax Threshold
Subscribe to our Newsletter Written by Peter Carter • Senior Accountant Published on 17 Jul 2018 2019 UpdatePositive Changes to the Payroll Tax Threshold are coming to NSW and SA.This is great news for small...
Business Coaching vs Business Mentoring – What’s the difference?
Subscribe to our Newsletter Written by Rick Fitzpatrick • Director and Founder Published on 03 Jul 2018 In this post, we want to alleviate the confusion around business coaching and business mentoring. At first...
Single Touch Payroll – What do you know?
Subscribe to our Newsletter Written by Bryn Robinson • Director Published on 02 Jul 2018 2019 UpdateThis blog has been reviewed and updated with consideration to changed dates. Single Touch Payroll – What do you...
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...
Top 5 Logbook Apps for Claiming Car Expenses in 2019
Subscribe to our Newsletter Written by Fitzpatrick Group • Marketing Officer Published on 21 May 2018 2019 Update: This blog has been reviewed and updated for 2019.For information on claiming car expenses on tax,...
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...
Accountants in Narellan – A brief history of Fitzpatrick Group
Subscribe to our Newsletter Written by Bryn Robinson • Director Published on 16 Apr 2018 Fitzpatrick Group has been in the business of accounting in Narellan since 2012. In fact, the history of Fitzpatrick Group...
Single Touch Payroll is on the horizon, what does this mean for business?
Subscribe to our Newsletter Written by Sachin Singh • Bookkeeping Manager Published on 13 Mar 2018 2019 Update: This blog has been updated to include relevant Single Touch Payroll information since the initial...
Important information that could save you thousands
Subscribe to our Newsletter Written by Fitzpatrick Group • Marketing Officer Published on 30 Aug 2017 If you are buying a property for $750,000 or more after 1 July 2017 your solicitor or conveyancer will have to...
Work-related expenses to go under the microscope
Subscribe to our Newsletter Written by Michael Rodriguez • Senior Accountant Published on 26 Jul 2017 This blog has been updated to include new information from a new report released 25/04/2018 by the ATO....
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
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...
Starting a Business: What do I need to think about?
Subscribe to our Newsletter Written by Rick Fitzpatrick • Director and Founder Published on 21 Jun 2017 Starting a business isn’t something that should be done carelessly. It’s something that requires thought,...
5 of the best accounting tips you will ever read
Subscribe to our Newsletter Written by Peter Carter • Senior Accountant Published on 14 Jun 2017 It is important to keep track of the record keeping and accounting aspect of your business. Here are some top...
Clothing, Laundry, and Dry Cleaning Expenses
Subscribe to our Newsletter Written by Peter Carter • Senior Accountant Published on 14 Jun 2017 If you have to follow a dress policy at your work, you may be able to claim the purchase and cleaning of your...
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
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...
Tax debts could start hurting your credit rating soon
Subscribe to our Newsletter Written by Bryn Robinson • Director Published on 25 May 2017 A Tax Debt Transparency Measure has recently been announced by the government to start taking effect from 1 July 2017.What...
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...
Can I get income deductions for volunteer work?
Subscribe to our Newsletter Written by Peter Carter • Senior Accountant Published on 18 May 2017 Volunteers are valued members of many organisations, ranging from sporting clubs and environmental groups to...
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
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...
Common BAS errors small businesses are making
Subscribe to our Newsletter Written by Pauline Campbell • Senior Accountant Published on 05 Apr 2017 The ATO has compiled a list of common mistakes and errors that are made by business owners when submitting...
Accounting Software Add-Ons and how it can help your business.
Subscribe to our Newsletter Written by Rick Fitzpatrick • Director and Founder Published on 15 Mar 2017 What are Add-ons?Add-ons are tools that extend your Accounting Software.Depending on what Industry you work...
Am I running a business, or is it just a hobby?
Subscribe to our Newsletter Written by Rick Fitzpatrick • Bookkeeping Manager Published on 08 Mar 2017 If you are selling products or services to businesses or individuals either personally or online, it can...
Why it’s actually not that hard to change accountants
Subscribe to our Newsletter Written by Fitzpatrick Group • Director and Founder Published on 08 Mar 2017 It can be a daunting decision to change accountants and one that should not be made lightly. However, it...
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...
Accounting mistakes that are holding your business back
Subscribe to our Newsletter Written by Bryn Robinson • Director Published on 10 Feb 2017 Accounting mistakes will happen from time to time, and most can be fixed quickly in a relatively simple way. However,...
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?
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
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?
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...
Why your business may fall victim to Cyber Criminals
Subscribe to our Newsletter Written by Bryn Robinson • Director Published on 14 Dec 2016 Almost everyone has heard of the Nigerian Prince email. Some of you may have even received the email from the Nigerian...
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?
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?
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?
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...
What to consider when hiring workers for your business
Subscribe to our Newsletter Written by Peter Carter • Bookkeeping Manager Published on 15 Nov 2016 Before you hire a worker As an employer, you are legally obligated to ensure that your employees meet certain...
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?
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 Brand Identity and how do I establish it?
Subscribe to our Newsletter Written by Fitzpatrick Group • Marketing Officer Published on 11 Nov 2016 What is Brand Identity?Brands are all around us in our everyday lives. Just take a moment.Think about the car...
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?
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...
6 Easy steps to promoting a business with your own blog
Subscribe to our Newsletter Written by Fitzpatrick Group • Marketing Officer Published on 01 Nov 2016 As a creative, I spend time with many small business owners discussing the art of promoting their business....
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
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
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...
Paying GST for business overseas
Subscribe to our Newsletter Written by Rick Fitzpatrick • Director & FounderPublished on 13 Oct 2016Are you doing business overseas? October 1, 2016, saw new changes to Australian GST law, meaning that you...
How to: Building a strong relationship with your supplier
If your business needs to acquire supplies in order to function, acquiring the right supplier for your business can take up a lot of your time and require some hard research. When you find the right supplier, continue developing a productive and professional...
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?
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
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
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
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
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?
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
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
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.
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
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
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…
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
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?
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?
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