recent blog posts

How to sell your business

15.04.2021 / by admin / 0 comments

We’re often asked the best way to sell a business. There are two key components at play in the sale of a business; structuring the transaction and positioning the business to the market. Both elements are important and can significantly…

JobKeeper 2.0

17.09.2020 / by admin / 0 comments

 Inside JobKeeper from 28 September 2020 1. Eligible businesses Eligible employers Business owners What about the directors who work in the business? The decline in turnover test Calculating GST turnover What if you don’t have a comparison period or there…

The super guarantee (SG) means that if you are in full-time employment your employer pays a minimum amount (currently 9.5%) into your super account. You can view your super and investment portfolio via an online platform provided by your superannuation fund….

Cash is King, but beware of the ATO

9.08.2017 / by admin / 0 comments

Historically, cash has been the preference for many Australian businesses. Unfortunately, this also made it very attractive for businesses to “forget” to disclose some of their cash-in-hand earnings. When cash is not banked, it’s very hard to trace. This meant…

investment property return

Every thought if you are getting the best returns from your investment property? This guide will help you evaluate the returns. Let’s find it out. Property depreciation claims Depreciation works to lower your taxable income, meaning that you pay less…

Gig economy explained

Playing to Win in the Gig Economy

22.05.2017 / by admin / 0 comments

This is the first article in our series on the gig economy, where we explore the changes in the employment market, and the related tax and financial issues that workers and employers face. What is the gig economy? The gig economy…

CGT rollovers

CGT Rollovers on Restructures

11.05.2017 / by admin / 0 comments

Every business runs using a particular legal structure – as a sole trader, a partnership, through a company or trust arrangement or even using a combination of these structures. Each structure offers different advantages and disadvantages. These advantages range from ease…

Accounting firm sydney

Infographic on why accountants are necessary for your small business. Brought to you by IdealBC Accounting Firm Sydney. Share this Image On Your Site </p><br /><br /><br /><br /><br /><br /><br /> <p><strong>Please include attribution to with this graphic.</strong></p><br…

forgiving debt

The creditor’s position: Forgiving a debt

20.04.2017 / by admin / 0 comments

In a commercial context, where a creditor has made a loan that the debtor uses in the course of a business or to produce their assessable income, there will be clear capital gains tax (CGT) consequences when the creditor agrees…

business travel expense sydney

Happy Trails: Business related Travel Expenses

10.04.2017 / by admin / 0 comments

The main areas for travel expenses that can be claimed as tax deductions are: transport; meals; and accommodation. Specifically, these can include: public transport costs, including taxi and air travel fares; bridge and road tolls, parking fees and short-term car…

small business benchmarks

Small Business Benchmarks Explained

5.04.2017 / by admin / 0 comments

Small business benchmarks are financial ratios the ATO uses to compare the performance of your business against similar businesses in your industry. It calculates them from the income tax returns and business activity statements of over 1.3 million Australian small…

Tax Accountant Brookvale

Choosing An Account Software

11.02.2016 / by admin / 0 comments

Things you should be familiar with even before the digital age, business owners keep track of everything using paper ledgers. Now a days, enterprises of all kinds, forms, and sizes utilize accounting software in keeping abreast on their revenues and expenditures,…

Tax Agent Sydney

There are several common accounting errors committed by bookkeepers that can have an adverse effect upon the finances of a business. Sound financial management starts with a solid understanding of bookkeeping fundamentals. We will present you with some of the…