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Budget Update 2017

2017-2018 Federal Budget Update We at Success Accounting Group are here to help you make smart financial decisions now so you can have a beautiful financial future. One way we do that is through careful tax planning! If you haven’t met with us yet, now is the time to contact us to arrange a tax planning […]

TAX DEBT

Managing cash flow is a constant challenge for small businesses, but there’s no reason for tax obligations to make it any harder. Tax debt is any taxes that you owe to the ATO after the filing deadline. It does not matter if you filed your tax return before the deadline or paid a partial amount […]

The Fringe Benefits Tax

The Fringe Benefits Tax (FBT) year runs from 1 April 2016 to 31 March 2017. Another tax planning strategy for business owners, is to determine if they have an FBT exposure and if so start to collect the relevant information in order to complete an FBT return for the year. What is it? FBT is […]

last chance for big super contributions

last chance for big super contributions   This is your last chance for super contributions before 30th June 2017, because of vastly reduced allowed amount that you can put into your superannuation. Thus, decision is vital before 30th June, so that you can maximise the amount of your super. This is possible by using two […]

Why use a Bucket company?

Why use a Bucket company? A bucket company allows you to “cap” the tax on profits distributed to or by trust at lower tax rate of 30%, whereas individual tax rate is 49%.Thus , It can save you a lot in tax. This  is basically an asset holding company that dose not involve in any […]

 “How to make Trust Distribution Resolutions”

How to make Trust Distribution Resolutions? An important thing is to make resolution before 30th June, if you have a family or a discretionary trust, so that, Tax department does not require you to pay the tax at 49% of trust profits. Your accountants know, who are the beneficiaries of the trust, how much they […]

The secrets to Tax Planning

The secrets to Tax Planning Tax planning is a secret to reduce your tax burden. You can reduce your tax in these ways:  By reducing your income.  Second way is to increase your tax deductions. As the income from the investment of the superannuation is taxed at a flat rate at 15% and  capital gains […]

Why use a SMSF?

Why use a SMSF? SMSF stands for self managed super fund that would provide you the control of your superannuation. It can create a family ‘vault’ for you to make all investment choices and potentially pay zero tax. You make all the investment choices – including shares, managed funds, property, and cash. It provides you maximum […]

Why do Tax Planning?

Imagine what you could do with your tax saved! start a new business reduce your mortgage bump up your super book a holiday save a deposit for your home or investment property pay for extra tutoring for your children upgrade your car All business owners must consider 5 KEY THINGS right now. Some of them […]

5 Tips for using your Accountant’s Service to its Maximum Potential

Choosing the RIGHT Accountant will play  a vital role in your business’s success.  A Success Accountant will take your business to the next level, using cloud technology to help you understand how to  improve your business efficiency, provide deeper insight to your numbers and increase the profitability of your business! If you are not offered […]

Travel between home and work and between workplaces

If you are self- employed, a business owner or an employee use this guide to know when you can claim travel between home and work and between workplaces. As a general rule, travel expenses are deductible when they are incurred for business or work-related purposes. These rules apply whether you travel by train, bus, taxi […]

Claiming home office expenses in your 2016 tax return

Many aren’t aware that they can claim home office expenses.  Whether your self-employed, a business owner or an employee – do you perform some of your work from home? If you do, here is a quick summary of the tax rules, and what home office expenses are allowed. Even if the room in your home […]

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