Accounting & Tax

Yasmin T.

Morley, WA

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Hi, I'm starting my own business and have registered a business name, ABN and for GST and hoping to start in early May. My question is will l have to pay tax in June this year or could it be held over until June 2020 to help with cashflow stating up... thank you

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5 years ago

Stephen M.

Maitland, NSW

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We have a business and try and keep the business assets separate from the business income as the income is shared with family members. We have been advised to set up two trusts, one for the assets of the business and one to run the business. Is this the right option or are there others........... thank you?

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5 years ago

PJ M.

New Farm, QLD

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If my partner & I buy an investment property together where I provide the deposit via a line of credit & she provides the main loan (80% value), what would be the best way to structure ownership to ensure we both claim our % of interest in our own names?

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5 years ago

Maile R.

Gosford, NSW

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Hi, I started my own marketing consultancy business 2 years ago and have a question about GST. Are you required to pay GST when your turnover reaches $75,000 or is turnover less expenses?

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5 years ago

Carmel T.

Five Dock, NSW

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Hello,

About to start a business with 2 other business partners and we’ve been to see an accountant to make sure the structure is correct. We have each had a discussion separately and I would like to ask other people if they think it is wise for us to share the same accountant for our personal stuff?

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5 years ago

Penny A.

Springvale, VIC

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Hi, finally I am taking the plunge and will launch my own business from July this year. My question is if I incur expenses in setting up the business like website, marketing material before July will I be able to claim the expenses in this financial year?

Thank you

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5 years ago

AnneMarie K.

Burnside Heights, VIC

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I have received a fine for not cutting the grass on my vacant block of land which I paid. My question is: with the money that I paid the fine, can I claim it back in tax because we use that block of land as an investment.

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5 years ago

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

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5 years ago

Carmel C.

Newton, SA

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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?

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5 years ago

Sophie A.

Chipping Norton, NSW

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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?

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5 years ago

tony s.

Auburn South, VIC

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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?

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5 years ago

Shaun B.

Westleigh, NSW

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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?

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5 years ago

Luke W.

Pakenham, VIC

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1 Followers

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

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5 years ago

Trudi P.

Darley, VIC

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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?

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5 years ago

Marcus S.

Merrimac, QLD

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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?

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5 years ago

Leo K.

Chipping Norton, NSW

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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?

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5 years ago

Marcus L.

Canning Vale, WA

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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?

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5 years ago

Jonathan D.

Cammeray, NSW

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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

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5 years ago

Sally T.

Balgowlah, NSW

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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

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5 years ago

Jason F.

Hamilton, NSW

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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?

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5 years ago