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ATO Focus Areas for 2023 and How a CPA Can HelpATO Focus Areas for 2023 and How a CPA Can Help

23/06/2023 Steven Rider CPA 0 Comments

The ATO is maintaining its focus on work‑related expenses and rental property deductions this year. Cryptocurrency and private use of business assets are also mentioned regularly. With a revised fixed rate of 67 cents per hour for working from home (WFH) expenses from 2022-2023, the ATO is expected to check that taxpayers are using{...}

Property Accounting

Chattel mortgage vs hire purchase: how do they compare?Chattel mortgage vs hire purchase: how do they compare?

14/06/2023 Steven Rider CPA 0 Comments

As any Aussie business owner might know, purchasing vehicles outright isn’t usually the go-to option from either an accounting perspective or in terms of getting tax deductions. Businesses often prefer a vehicle financing arrangement, but there are other choices to consider for any business owners looking to go down this path. For{...}

Property Accounting

Top 10 tips to help rental property owners avoid common tax mistakesTop 10 tips to help rental property owners avoid common tax mistakes

17/05/2023 Steven Rider CPA 0 Comments

To access or download a copy of the ATO fact sheet in portable document format (PDF), see Top 10 tips to help rental property owners avoid common tax mistakes (PDF, 215KB)This link will download a file. Whether you use Rider Accoutants & Advisors as your tax agent or choose to lodge{...}

Property Accounting

LANDLORDS CLAIM DODGY TAX DEDUCTIONSLANDLORDS CLAIM DODGY TAX DEDUCTIONS

14/05/2023 Steven Rider CPA 0 Comments

The Australian Taxation Office will crack down on landlords’ dodgy deductions, after a review found nearly nine out of 10 landlords made mistakes on their annual returns and incorrectly claimed expenses. People claiming tax deductions for working from home will also come under the microscope, as will people who earn{...}

Property Accounting

Residential Property and GSTResidential Property and GST

03/05/2023 Steven Rider CPA 0 Comments

Except from an ATO Post About How GST might affect your property transaction Residential property Find out what are the GST obligations for new and existing residential properties. On this page Overview GST only applies to the sale of certain property types if the seller (vendor) is registered or required{...}

Property Accounting

FBT Free Employee BenefitsFBT Free Employee Benefits

26/04/2023 admin 0 Comments

Rewarding employees Accounting professionals are well placed to help clients offer FBT-exempt benefits to their staff. Examples include: Private use of an electric car that was both held and used on or after 1 July 2022 and wasn’t subject to luxury car tax (among other conditions). Portable electronic devices that{...}

Property Accounting

Uber and Ride Share TaxUber and Ride Share Tax

26/04/2023 admin 0 Comments

Australian rideshare tax requirements As a driver-partner, you independently provide transportation services. You are not an employee of Uber and will be responsible for reporting and paying any applicable tax or GST earned from your trips with Uber to the Australian Tax Office (ATO). Uber does not withhold or file{...}

Property Accounting

Online vs bricks-and-mortar businessOnline vs bricks-and-mortar business

14/12/2022 Steven Xero Certified Advisor Advisor 0 Comments

Source: Xero Comparing financial performance, workload, and stress between business types. Introduction Xero surveyed 171 accountants and bookkeepers with a collective clientele of more than 6,000 small businesses to explore the differences between online and physical businesses. 59 of those experts (accounting for more than 2,200 businesses) were based in{...}

Property Accounting

3 reasons why you should have a CPA complete your BAS3 reasons why you should have a CPA complete your BAS

20/10/2022 admin 0 Comments

Whether to hire a professional to handle your accounting and tax is not an easy decision. However, when the tax times come around, it can be daunting for business owners. In this blog, we’ll cover the business activity statement (BAS) and 3 reasons why getting your BAS professionally done is{...}

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