Accounting & Tax

Pru T.

Terrigal, NSW

1 Likes
1 Followers

Hi,
I started my own beauty salon 6 months ago and would like to ask what budgeting tools people find helpful. I am finding it difficult to manage cashflow with suppliers and orders, thank you

View responses or answer (1)

6 days ago

Carmel C.

Newton, SA

1 Likes
0 Followers

I play soccer for a local club and get paid some money if my name is on the Team Sheet for season games. I have provided the club with a Statemtent by a Supplier and ticked private recreational pursuit and hobby as my selection. The club has sought permission from me for them to create a RCTI so that they can claim GST credits. Is this okay?

View responses or answer (2)

last week

Sophie A.

Chipping Norton, NSW

2 Likes
0 Followers

Hi, my husbands runs a small business as a contractor to a number of builders and developers and I do the books, He has had to bring on subcontractors to complete the work on time and we want to check about how we pay them, do they need a ABN, do we pay GST on their invoices, what about super, our accountant is away so any help would be great?

View responses or answer (3)

2 weeks ago

tony s.

Auburn South, VIC

3 Likes
1 Followers

Will my declared income on a bank home loan application be data matched with the ATO?
So does the ATO receive information from banks about income declarations in loan applications?

View responses or answer (3)

3 weeks ago

Shaun B.

Westleigh, NSW

2 Likes
1 Followers

Hi there,

I have been working for the same company for 9 years and have been offered a redundancy package. I’m trying to calculate my entitlements and I’d like to ask if I should do the calculations from the time they made the offer or to my last day which would be in 6 weeks. Do I include a percentage long service leave as an entitlement even though I’m 6 months away from 10 years’ service?

View responses or answer (4)

last month

Luke W.

Pakenham, VIC

0 Likes
1 Followers

Does an employer have to pay superannuation on top of bonuses or can they pay it out of the bonus?

View responses or answer (2)

last month

Trudi P.

Darley, VIC

0 Likes
0 Followers

I am going to work as a contractor and charging $40 an hourly rate. Do I include gst in this amount of do i add the gst on?

View responses or answer (3)

2 months ago

Marcus S.

Merrimac, QLD

0 Likes
0 Followers

Hi
I have purchased a computer and other equipment of substantial value for use in a business that I'm about to start. However I have not registered a LLC or other yet. Is it possible to still claim these purchases if the tax invoices have been made out in my name?

View responses or answer (2)

2 months ago

Leo K.

Chipping Norton, NSW

3 Likes
0 Followers

We do our BAS each quarter but we invested significant funds into the business in Oct and Nov and want to know if we can do our BAS for the 2 months now, then do Dec at the end of the month and then go back to quarterly?

View responses or answer (1)

3 months ago

Marcus L.

Canning Vale, WA

0 Likes
0 Followers

Hi,
We have a family business and the accountant has it set up that my income is $40k more than my wife’s. We are looking to buy an investment property and also been advised to buy the property in my wife’s name. Does this sound like good advice and can we get a loan if the loan by using my wife’s name and will they look at both our income and the business profits?

View responses or answer (3)

3 months ago

Jonathan D.

Cammeray, NSW

0 Likes
0 Followers

Hi, my employer is going through a round of redundancies and after 15 years at the company I’m pretty sure I might be on the list.
If so, I’d like to ask about the type of entitlements that would be due. The payment should include annual leave and long service leave, are there any others?
Thanks

View responses or answer (1)

3 months ago

Sally T.

Balgowlah, NSW

1 Likes
0 Followers

Hi, I started a little business making cakes and sell at the markets and privately through word of mouth. It’s starting to do really well and would like to ask if I should have some sort of insurances in place. The turnover was just over 40k to June 2018 and now doing about $7,000pm. I’d appreciate some help, thank you

View responses or answer (2)

3 months ago

Jason F.

Hamilton, NSW

2 Likes
0 Followers

I have been running my online business for 2 years ago and 6 months ago an old business colleague started helping out with advice. I haven’t been able to pay him a full salary but we’ve spoken about having some equity as a reward and ongoing incentive. Some of the advice relates to him having to pay capital gains tax straight away of the value of the shares. Is this correct and what other options are available?

View responses or answer (1)

3 months ago

Mark T.

Charlestown, NSW

0 Likes
0 Followers

Hi, we are putting our business on the market and want to ask if a buyer gets any benefits from the carried forward loses from our first 2 years setting up the business. Thanks?

View responses or answer (2)

4 months ago

Daniela P.

Taren Point, NSW

1 Likes
0 Followers

We have been trying to find out if there is a limit to how much we can gift our eldest son and remain tax free. We have been getting mixed messages as it is a significant amount, is there a limit… thanks in advance

View responses or answer (3)

4 months ago

Tony M.

Gymea, NSW

2 Likes
0 Followers

Hi, we are about to engage a builder for renovations and the quote has come in at $600,000. The builder is buying the materials on our behalf and we assume paying GST on the costs so if we breakdown the quotes should we then be paying further GST based on the builders overall quote?

View responses or answer (3)

4 months ago

Mel W.

Dee Why, NSW

1 Likes
0 Followers

Hi - I have been contracting for 4 years and just been using a business name and ABN. My income is now consistently $12-13,000 a month and wondering whether it’s time to set it up under a company – what would be the benefits to do so?

View responses or answer (3)

4 months ago

Sam D.

Glenorie, NSW

2 Likes
0 Followers

Hi
2 years ago we started a new business and spent about $300,000 so far. It’s not working out as well as we hoped and now thinking about closing it down and getting a job – the question we have is about the losses we have in business… can they be offset against the future income when we find employment?

View responses or answer (4)

4 months ago

Nicholas Y.

Ringwood, VIC

3 Likes
0 Followers

Our business uses Xero accounting and about to set up another business with an investor. As the financial reports will be different is there a way around having to set up another Xero account, could we just use the one?

View responses or answer (2)

4 months ago

Mel G.

Ormond, VIC

1 Likes
0 Followers

Hi,
A year ago I started a new job and needed a car, my employer suggested a novated lease. I was made redundant last week and now they are saying the car is in my name so I have to keep making the repayments. Is this right… what are my options?

View responses or answer (2)

4 months ago

Hi,I started my own beauty salon 6 months ago and would like to ask what budgeting tools people find helpful. I am finding it difficult to manage cashflow with suppliers and orders, thank you

Will my declared income on a bank home loan application be data matched with the ATO?So does the ATO receive information from banks about income declarations in loan applications?

Does an employer have to pay superannuation on top of bonuses or can they pay it out of the bonus?

I am going to work as a contractor and charging $40 an hourly rate. Do I include gst in this amount of do i add the gst on?

HiI have purchased a computer and other equipment of substantial value for use in a business that I'm about to start. However I have not registered a LLC or other yet. Is it possible to still claim these purchases if the tax invoices have been made out in my name?

We do our BAS each quarter but we invested significant funds into the business in Oct and Nov and want to know if we can do our BAS for the 2 months now, then do Dec at the end of the month and then go back to quarterly?

Hi, my employer is going through a round of redundancies and after 15 years at the company I’m pretty sure I might be on the list.If so, I’d like to ask about the type of entitlements that would be due. The payment should include annual leave and long service leave, are there any others? Thanks

Hi, we are putting our business on the market and want to ask if a buyer gets any benefits from the carried forward loses from our first 2 years setting up the business. Thanks?

We have been trying to find out if there is a limit to how much we can gift our eldest son and remain tax free. We have been getting mixed messages as it is a significant amount, is there a limit… thanks in advance

Hi, we are about to engage a builder for renovations and the quote has come in at $600,000. The builder is buying the materials on our behalf and we assume paying GST on the costs so if we breakdown the quotes should we then be paying further GST based on the builders overall quote?

Hi - I have been contracting for 4 years and just been using a business name and ABN. My income is now consistently $12-13,000 a month and wondering whether it’s time to set it up under a company – what would be the benefits to do so?

Our business uses Xero accounting and about to set up another business with an investor. As the financial reports will be different is there a way around having to set up another Xero account, could we just use the one?

Hi,A year ago I started a new job and needed a car, my employer suggested a novated lease. I was made redundant last week and now they are saying the car is in my name so I have to keep making the repayments. Is this right… what are my options?

Hi,
I started my own beauty salon 6 months ago and would like to ask what budgeting tools people find helpful. I am finding it difficult to manage cashflow with suppliers and orders, thank you

Will my declared income on a bank home loan application be data matched with the ATO?
So does the ATO receive information from banks about income declarations in loan applications?

Hi
I have purchased a computer and other equipment of substantial value for use in a business that I'm about to start. However I have not registered a LLC or other yet. Is it possible to still claim these purchases if the tax invoices have been made out in my name?

Hi,
A year ago I started a new job and needed a car, my employer suggested a novated lease. I was made redundant last week and now they are saying the car is in my name so I have to keep making the repayments. Is this right… what are my options?