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Accounting & Bookkeeping

Latest Questions

Sanjiv G.
Sanjiv G.
Kenwick, WA
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Q:

Hi. I have already bought an investment property from the available funds of offset bank account for a mortgage home where I live now.
To keep new house on investment officially I contacted NAB bank. NAB bank is ready to swap over the property title-papers but advices that I will not be able to take advantage of tax benefits by doing so because govt tax officers check what was the purpose of the home loan originally? Please advice me now how do I take advantage of tax benefits?

4 days ago
Meroula R.
Meroula R.
South Yarra, VIC
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Q:

I use a bookkeeper for my business BAS, and an accountant for my tax. The bookkeeper enters all the business data on an Excel spreadsheet which I give to the accountant with the rest of my information. I've discovered that the bookkeeper has made a major error every year (for 6 years) by entering my receipts incorrectly, so I have paid a lot more tax than I should have. The accountant has had the original documents as well as the spreadsheets. Should he have checked the spreadsheet data??Thanks!

last week
Q:

Hi,
My Wife and I have a 75k mortgage. we have an equity loan facility that is split from this mortgage of 400k.
we would like to invest in some shares using funds from equity loan.
We would like to set it up so my wife is buying the shares as she has recently delivered our baby and won’t be returning to work for around 5 years.
Can she negative gear the interest against dividend income from the equity loan keeping in mind it’s in both our names?

last week
Kellie D.
Kellie D.
Maida Vale, WA
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Q:

Hi, I am employed by a trading platform in USA, money will be getting transferred to my account to purchase iTunes cards and traded for bitcoin. I will be getting a monthly wage. My question is, will I only need to pay tax on my wage of $3500 per month ? OR will I get slammed paying tax on the massive amount of money this company are putting into my account to purchase the iTunes cards for them?

last month
Peter A.
Peter A.
Morphett Vale, SA
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Q:

Six years ago, I took out a residential property investment loan over two like properties, one of which is my residence, the other rented. Three years ago, I ended the tenancy of the rental property, and swapped properties ie rented my original residence. Up to that point , my loan interest was deductible. When I swapped homes I have been advised I cannot claim any of the home loan interest, only maintenance costs. I think this is incorrect advice as the loan is non-specific? Thank you!

last month
Bettina N.
Bettina N.
Townsville, QLD
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Q:

I paid an invoice in July 17 and the company has today contacted me to advise that accountant just completed their annual audit and discovered that their invoice was incorrect and that I owe the business $AUD 600. Do I have to pay this? If yes, the invoice I was provided with today only gives me 2 1/2 days to pay which i find completely unreasonable. What would be reasonable?

last month
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