We know how hard it is to find time for your business and finances. That’s why your Beenleigh tax accountants are here to assist you make the best business decisions to prosper and grow.
At Accountants 360, we understand your need to find a trusted local tax accountant and advisor who knows how to listen and who offers practical easy to understand recommendations that remove the pressure standing in the way of your success.
With our tailored monthly packages using cloud-based accounting programs you can rest assured that your accounting and taxation matters is taken care of so you can rest easily.
Let us assist you in navigating business establishment and growth. Find out more about how we can assist using our many years of experience making sure your business starts off on the right footing.
We are experts in all leading accounting software including
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To help the local tradies in this area, we set up the Beenleigh Tradies Tax Advice Service office.. We know the challenges tradies have on a day-to-day basis.
At Accountants 360, we believe that your success starts with the right advice. Without a trusted advisor to provide you with accurate up-to-date advice you will pay more tax than what you need to pay. That is where Accountants 360 will leave no stone unturned to minimise your tax liabilities. We have helped tradies for over 20 years do exactly that.
We will explain to you in simple to understand language so you go about your daily business knowing that your taxation affairs are taken care of in a professional manner.
With our Tradies Tax accounting packages we can take care of all your taxation and advice needs. So all you have to do is go about your usual day job without worrying about your taxation affairs or bookkeeping. We will take care of all lodgements and making sure you do not pay a cent more in tax than what you need to pay.
We can even put you in contact with the right people for your Insurance, Home Loans, Vehicle Financing, Equipment Financing and Super Fund Management.
We strive to achieve 100% customer satisfaction for both types of customers: hiring companies and job seekers. Types of customers: with huge potential
Our goal is to help your company achieve its full potential and establish long term stability for the stakeholders
The next few months could decide whether the COVID-19 pandemic has a long-term impact on the experience of working in an office. For the past twelve months, millions were told to work from home. Interestingly, more Australians now want to work from home an average of two days per week after the COVID-19 pandemic, according to a survey by the University of Sydney Business School. And around 60% of Australian workers think employers will support future work from home plans. Let’s consider the benefits of employing remote workers
* Attract top talent
* Reduce costs
* Improve productivity
* Cut out wasted travel time
* Maintaining good communication
* Creating a culture
* Tracking employee performance
Remote working appears to be part of the new norm, so make sure you are ready for it.
That time has come…
There is some good news however, as employment numbers are increasing and business confidence is growing. It appears that the Australian economy is ready to climb out of the Covid 19 hole better equipped than many other countries.
But we all need to prepare and have a plan in place.
Is your business ready to handle any challenges and opportunities once the Job-Keeper payments cease?
It is important to be ready in case you are affected when cash safety nets are removed. How will you cover costs? How will you adjust your operations? Will you be able to keep growing revenue?
Cash flow is vital aspect of business. Do you have cash-flow plan and reserves in hand in the event of sales fluctuations over the next year? Cash can also help you capture opportunities that may arise. Getting the right working capital in place may help your business capture the opportunities that have come out of the pandemic.
Income tax There’s an upper limit on the cost you use to work out the depreciation for the business use of your car or station wagon (including four-wheel drives). For this purpose, you use the car limit that applies to the year you first use or lease the car.
Goods and services tax (GST) Generally, if you purchase a car and the price is more than the car limit, the maximum amount of GST credit you can claim is one-eleventh of the car limit amount.
Luxury car tax (LCT) From 1 July 2020 the LCT threshold increased to $ $68,740. The LCT threshold for fuel efficient cars increased to $77,565 for the 2020–21 financial year. Remember, the LCT value of a car generally includes the value of any parts, accessories or attachments supplied or imported at the same time as the car.BACK
So we have provided this update of fringe benefits tax (FBT) to help you stay on top of this tax within your business.
For FBT purposes, a car is any of the following: a sedan or station wagon any other goods-carrying vehicle with a carrying capacity of less than one tonne, such as a panel van or utility (including four-wheel drive vehicles) any other passenger-carrying vehicle designed to carry fewer than nine passengers. If the vehicle is not a car, and the employee has private use of it, the employer may be providing a residual fringe benefit rather than a car fringe benefit.
Private use A car is taken to be available for the private use of an employee on any day they or their associates use it, or are allowed to use it, for private purposes. If a car is garaged at or near the employee’s home, even if only for security reasons, it is taken to be available for their private use regardless of whether or not they have permission to use the car privately.BACK
For business employing staff, the changes to personal income tax thresholds have been incorporated into the withholding schedules and tax tables and will apply to payments made on and from 13 October 2020. Updated tax tables are now available for you to reflect the tax cuts in employee’s take-home pay.
To comply with the new rates you must make sure you are withholding the correct amount from salary or wages paid to your employees for pay runs processed in your system from 16 November onwards. Payroll software providers will be updating software to implement these tax rate changes. Some payroll software providers may take longer to update their software. If you are using a payroll provider, they should keep you updated on these changes and apply them. You don’t need to make any other adjustments or refunds.BACK
One of the most common reasons for hackers to hack is to steal or leak information. This could be data and information about your customers, your employees or even private data specific to your business. Hackers are smart and will attack insecure online systems using Spambots or Botnets to attach to your website or via your email systems to spread malicious software. These “Bots” will look for and attack vulnerable systems by brute force with multiple attacks over a short period of time.
But there are ways you can prevent the incidence of attacks.
* Use strong passwords
* Keep software up to date
* Use Antivirus Software
* Install a Popup Blocker
* Beware of Email Phishing Scams
* Backup regularly
* Educate your staff
If you are thinking about setting up a self-managed super fund, make sure you consider the costs, time, risks and skills involved.
Your self-managed super fund (SMSF) needs to be set up correctly so that it’s eligible for tax concessions, can receive contributions and is as easy as possible to administer. It’s best to see a qualiﬁed, licensed professional to help you decide.BACK
If you are a sole trader with legal responsibility for all aspects of your business whether you work alone or are an employer, you could be eligible.
On 21 July, the Government announced it is extending the JobKeeper Payment until 28 March 2021 and is targeting support to those businesses and not-for-profits who continue to be significantly impacted by the Coronavirus
We have recently found that some sole traders are not sure of their eligibility to receive JobKeeper Payments. We can help with advice on your eligibility.
Frank’s career spans in excess of a decade working with a range of clients, from mum & dad businesses, to large business with a turnover in excess of $30 million. Frank has a passion for small and medium sized businesses. He will give you a unique insight on how to handle not just your Tax and Accounting matters, but also what your hopes and dreams are and will implement strategies in place to give you the best possible chance of achieving these. He gained his Bachelor of Business Management with a major in Accounting from Griffith University right here in Brisbane. He is also a Registered member of the Institute of Public Accountants (IPA) and is a Registered Tax Agent.
- Member of IPA Australia
- Bachelor of Business Management – Griffith University
- Xero Certified Advisor
- Certificate 3 in Buniess form TAFE QLD
Our goal is to provide the right business growth services at the appropriate time so companies can benefit from the created momentum and thrive for a long period of time