From 1 July 2015, small businesses are entitled to certain deductions when starting up a small business. The range of deductible start-up costs includes professional, legal and accounting advice and government fees and charges.
Read MoreFrom 12 May 2015, primary producers can immediately deduct the costs of:
- fencing, previously deducted over a period up to 30 years
- water facilities, previously deducted over three years.
This concession allows you to estimate the value of your trading stock at the end of the financial year to report in your tax return. You will need to record how you estimated the value of your stock, but you don't need to notify us that you have chosen to use an estimate.
Read MoreSmall businesses can immediately deduct the business portion of most assets if they cost less than $20,000 and were purchased between 7:30pm 12 May 2015 and 30 June 2017.
Read MoreSmall businesses have access to a range of tax concessions. This applies to sole traders, partnerships, companies or trusts.
Read MoreFraud can have a devastating impact on any business.
Read MoreBush & Campbell Accountants, along with representatives from Bendigo Bank and Ian McLeod Solicitors, will be presenting topics about Tax and Cashflow, Self Managed Superannuation Funds, Testamentary Trusts and Financial Planning services.
Read MoreFraud can have a devastating impact on any business. While high profile cases of external business fraud regularly hit the headlines, internal fraud is far more common than you might expect.
Read MoreThe following table outlines the GST concessions available to charities (with registered tax concessions), deductible gift recipients and government schools:
Read MoreThe accounting treatment of government funding is largely dependent on the conditions stipulated by each funding provider. A common example is the requirement to acquit all funding in full at the end of each year, with any unspent amounts to be repaid or withheld from the next year’s allocation.
Read MoreThe ACNC has announced its intention to revoke the registrations of approximately 200 more charities who have now defaulted on the lodgement of their 2013 and 2014 Annual information Statements (AIS).
Read MoreWhether you're on a beach, in a desert, atop a mountain, at a restaurant, overseas, under a tree, or by a river there’s always time to work on your budgets.
Read MoreFrom the whole team at Bush & Campbell, we wish you a Merry Christmas and successful 2016.
Read MoreSome employers, who are commendably anxious to protect their employees and clients from the drink/driving laws, also pay for taxis to take employees to and from the place of entertainment.
Read MoreEnsuring clients make the most of the contribution caps is one of the most important parts of tax planning, so what mistakes prevent clients from claiming deductions for personal superannuation contributions?
Read MoreThe Christmas break-up party and/or gifts to employees can be exempt from Fringe Benefits if a few rules are followed.
Read MoreSMSFs holding collectables need to ensure they are compliant under the incoming regulations applicable from 1 July 2016.
Read MoreIt was big news when the Australian Taxation Office (ATO) was granted the right to unilaterally impose monetary penalties for certain contraventions of superannuation laws.
Read MoreA fundamental requirement is that superannuation funds meet a sole purpose test – the provision of retirement benefits. If it appears that there is a different purpose, the fund can become non-complying.
Read MoreThe tax office has issued a warning to taxpayers and their advisers against misusing partnerships with private company partners to avoid tax.
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