Accounting for Psychologists August Newsletter
Olympics, Tax Preparation and keeping your personal and business expenses seperate Read More…
The end of another financial year is fast approaching and as your accountant, we believe part of our client brief is to help you minimise your tax liability within the framework of the Australian taxation system.
The purpose of this newsletter is to highlight some end of year tax planning opportunities but you need to act quickly and we encourage you to schedule a meeting as soon as possible to assess your options and the steps you need to take well before the 30th June, 2019.
Please note, this is a pre-Federal Election Guide and things may change after May 18, 2019.
You can download the full copy of the tax planning guide HERE
To assist you we have put together a list of strategies to consider and note:
The following list of tax planning opportunities is certainly not exhaustive and depending on your circumstances (including your turnover and whether you are on a cash or accruals method of accounting), terms and conditions may apply to some of these tactics. If you would like to discuss your tax planning options we urge you to contact us today and most importantly, don't leave it until the last minute as some of these strategies require some time to implement.
To minimise your tax liability there are several general strategies to consider before
the end of the 2018/19 financial year including delaying income and bringing forward losses.
Read More...
Other things that need to be addressed before the end of the financial year including motor vehicle log book, superannuation rates and
other issues for small business owners.
Read More...
In addition to the tax planning opportunities, there are a number of reporting requirements regarding stock valuation options, writing off
bad debts, etc. for businesses to consider.
Read More...
Before making any superannuation
contributions please discuss this with our office. There are strict eligibility requirements. Most importantly, regardless of the type of
contribution being made, transfers and deposits must clear before June 30.
Read More...
Details of what's required to obtain the immediate write off for individual small business assets valued lower than $30,000.
Read More...
Disclaimer: This newsletter contains general information only. No responsibility can be accepted for errors, omissions or possible misleading statements. No responsibility can be accepted for any action taken as a result of any information contained in these articles. It is not designed to be a substitute for professional advice and does not take into account your personal circumstances.
See below other recent articles:-
Accounting for Psychologists August Newsletter
Olympics, Tax Preparation and keeping your personal and business expenses seperate Read More…
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Accounting for Psychologists Newsletter #18
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Accounting for Psychologists Newsletter #17
After talking to lots of psychologists about personal finance, I’ve found that Wills and Estate Planning are almost always put into the “too hard” basket. It’s not an easy subject to think about, but it’s something that can really make a difference for you and your family – your parents, siblings, partner, children and pets - if things were to go awry. Read More…
Accounting for Psychologists Newsletter #16
This month’s newsletter continues on with the theme of Spring cleaning. Last month it was personal finance, this time it’s Spring
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I’ll also give an outline of the Small Business Skills and Training Boost which , for those of you with employees, can give
you additional tax deductions on staff training.
Read More…
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Accounting for Psychologists Newsletter #15
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Accounting for Psychologists Newsletter #14
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Accounting for Psychologists Newsletter #13
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Accounting for Psychologists Newsletter #12
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Accounting for Psychologists Newletter #11
This month the newsletter will cover:
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Accounting for Psychologists Newsletter #10
Travel expenses and Proud Dad Moment!!!!! Read More…
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Accounting for Psychologist Newsletter #8
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Accounting for Psychologists Newletter #7
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Accounting For Psychologists Newsletter #6
This month covers:
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2. Year end reflection
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Read More…
Accounting For Psychologists Newsletter #5
This month we cover:
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Read More…
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Accounting For Psychologists Newsletter #4
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Accounting For Psychologists Newsletter #3
This month covers the crucial topics of insurance or delegation. Read More…
Accounting For Psychologists Newsletter #2
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2. GST for Psychologists
3. Practice Management Arrangements
Read More…
Accounting For Psychologist Newsletter #1
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Merry Christmas from Sheridans...
Wishing all our clients and their families the very best for the Festive Season and a safe & happy 2022. Please note our offices will be
closed from 11am Thursday 23rd December whilst we undergo renovations, limited staff will be available from Monday 10th January 2022 until
we fully re-open on Monday 24th January 2022.
In the meantime, and in case you missed it, check out our latest Business Accelerator Magazine, full of articles and news about growing and
nurturing your business. This edition includes our second article in a series on What are the Key Ingredients for a Successful Business? As
well as articles on the ATOs new Stapled Super Fund rules, an examination of why start-ups fail and info on the rules around the newly
introduced Company Director ID Number…
Read More…
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Most people for one reason or another contemplate starting their own business. While there’s no magic potion or secret formula that guarantees business success, highly successful businesses have some common characteristics that we will explore across a series of articles. In this instalment, we look at the importance of marketing and systemisation... Read More…
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The COVID-19 pandemic has impacted the way we live, work and play. While the pandemic has posed a threat to lives and livelihoods,
there’s clear evidence that people have struggled to balance the hybrid work model particularly when combined with home schooling
duties. After 18 months of uncertainty people are doing a lot of soul-searching and a chunk of the population are re-evaluating various
parts of their lives including their employment and some are considering self-employment. In this article we examine the perils and
pitfalls of going out on your own, and importantly, how to avoid them...
Read More…
Preparing to Sell Your Business
It's an emotional moment when you finally make the decision that it's time to sell your business. All those long hours, customer dramas and financial risks will loom large in your mind, but the buyer isn't interested in how much work you've put into your 'baby', they want to see financial proof that the asking price is justified.... Read More…
In Case You Missed Our September 2021 Business Accelerator Magazine…
Don’t miss our latest edition of the quarterly Business Accelerator Magazine, full of articles and news about growing and nurturing your business. This edition includes the first part in our series on The Key Ingredients of Business Success as well as looking at whether COVID-19 Grants are taxable and the ATO’s data-matching programme targeting lifestyle assets… Read More…
The Key Ingredients for Business Success (Part 1)
Most people at some stage of their lives, for one reason or another, contemplate starting their own business. While there’s no magic potion or secret formula that guarantees business success, highly successful businesses have some common characteristics that we will explore across a series of articles... Read More…
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For small business owners, access to government support is a critical lifeline and there have been a lot of changes in the last month. So for our Victorian clients we summarise them in this article ... Read More…