Fringe Benefit Tax (FBT) is something the ATO has been cracking down on in recent years, so it’s important to know what transactions are affected by FBT.
If you offer employees benefits that involve cars, loans, travel or entertainment, it’s essential you know if FBT applies. Read More
Shakespeare Financial Group recently had the pleasure of sponsoring and exhibiting at the Australian Veterinary Association WA Division State Conference.
The conference ran from October 19 – 21 and was held at Perth’s Crown Complex, with delegates from all areas of the WA veterinary community attending.
The event included an industry exhibition, key note speakers and gala dinner over the three day period.
Our team were on hand to chat about all things financial, including our range of veterinary industry specific accounting solutions.
Free Financial Health Checks were on offer to help vets address common financial issues specific to the industry.
With an already existing veterinary client base, Shakespeare Financial Group is in the position to be able to provide industry relevant services and advice to the veterinary community.
Attending the event of behalf of Shakespeare included Directors Leigh-Anne Meyerowitz, Stuart MacKinnon, Josh Parsons, Matthew Robertson and Peter Elkerbout, along with General Manager Tony Da Silva.
We love to go the extra mile at Shakespeare, so much so that over the years we’ve been building a wonderful network of valued clients in Broome.
This means our dedicated team of accountants get the chance to head up to Broome on a regular basis, visiting clients and of course enjoying all the incredible things the Kimberley region has to offer.
We’re also proud to announce that Shakespeare Financial Group has recently joined the Broome Chamber of Commerce and Industry.
We can’t wait to see how we can help support the wider business community through the fantastic work the BCCI undertakes and we feel privileged to be part of the network.
How a Home Loan Health Check can re-ignite your mortgage
Once upon a time, you found your dream home and the perfect loan to match, and life was good. But has the shine worn off your mortgage? Do you feel it’s all take and no give? Are you the one doing all the heavy lifting?
Don’t assume that your current home loan still ticks all the boxes and continues to fit your needs, just because it’s convenient.
Life changes constantly and it’s important to periodically review your home loan and make sure it still works for you.
So it might be time to ask yourself a couple of questions: Read More
Just in time for the silly season, we’re giving you the chance to get some R&R at Crown Towers with an overnight stay on us!
Crown Perth is the premier destination for fine dining, entertainment and five star hospitality. Enjoy an overnight stay in a Crown Towers deluxe room and experience the amazing facilities the complex has to offer. Read More
The first quarter of the new financial year is almost over already! But before you get too preoccupied with the upcoming silly season, tick your Q1 BAS off the list first.
TO help you out, here are a few useful tips, courtesy of the ATO*
BAS record keeping:
- Keep records of all sales, fees, expenses, wages and other business costs
- Only claim GST credits from suppliers who are registered for GST
- Don’t claim credits for purchases that don’t include GST, such as bank fees or water bills
- Only claim business expenses – don’t claim GST on private expenses, such as food or entertainment
- Claim the business portion of things you purchase that are also used for personal use
- Set aside your GST in a separate account
- Lodge on time to avoid penalties
- Keep all your tax invoices and other GST records for five years
SME’s are increasingly taking advantage of the convenient short term finance opportunities that fintech lenders provide.
At the core of it all fintech (financial technology) lenders and banks provide the same basic function – they both offer financial products to individuals and businesses.
So what’s the difference between a fintech lender and a bank? Read More
Implications of your Christmas Party from a FBT perspective
With the festive season fast approaching, employers may begin planning their Christmas party and should be aware of the tax implications of such events.
When an employer provides a non-cash benefit to an employee or an associate of an employee, it may give rise to what is known as ‘Fringe Benefit’ with which Fringe Benefit Tax (FBT) may be payable by the employer. Read More
19 September 2018
The Senate has delivered some good news for 3.3 million eligible Australian small businesses by passing the extension of $20,000 instant asset write-off scheme.
Treasurer Josh Frydenberg recently announced the extension passed through the Senate, giving small business owners until 30 June 2019 to take advantage of the scheme.
The extension was initially announced back in May by then Treasurer Scott Morrison as part of the 2018-2019 federal budget.
What it means for Australian small businesses
A fresh warning from the ATO has been released regarding a reported spike in scammer activity.
Posing as tax agents, scammers have been tricking victims into paying large amounts of money, under the guise of ATO imposed fines.
This particular scam involves a three way phone conversation where one scammer impersonates a victim’s tax agent, while another impersonates an ATO staff member.
ATO Assistant Commissioner Kath Anderson has described a recent example of the magnitude of this scam. Read More