We've heard this phrase multiple times, and it's specifically usually when a client has a new mobile phone. Previously, you had to remove 2 step authenticator from your old phone before you got your new phone, and you no longer need to do…

There are lots of reasons to keep fit but very few of them have to do with how we earn our income. As a result, a tax deduction for a gym membership isn’t available to most people. And yes, the Tax Office has heard all the arguments before... 'Keeping…

If you’ve been considering making the move to a cloud-based accounting system, you’re not alone. Cloud technology has impacted many business functions, including making managing financial aspects of your business easier and more efficient. Cloud-based…

Shaun recently was a guest speaker in an investment property live event with Wheatley Finance, called 'Good Debt, Bad Debt'. The full recording (a whopping 2 hours of content) hasn't been released yet, but we will link to it when it becomes…

There are many people who believe that when it comes to investing, nothing beats real estate. This may be true, but you still have to be smart when making your real estate investment decisions. Although investment properties can be a…

Late last month, the Australian Taxation Office (ATO) released a package of new guidance material that directly targets how trusts distribute income. Many family groups will pay higher taxes (now and potentially retrospectively) as a result…

Sometimes accountants use words that most small business owners don't understand. We try our best not to do that, and explain things as simple as possible. Sometimes though, there are some important terms that need to be used. Here we explain…

If Santa was an Australian tax resident: a laugh A lighter look at the complexity of Australian taxation laws and the year that has been.   To santa, Thank you for the opportunity to provide strategic business, tax and compliance…

Business structuring, while a dry topic, is important. We recently held a webinar going through the ins and outs of the different business structures available in Australia, and the pros and cons for each. Whether you are setting up a new…

In its 2020 Budget Digital Business Plan, the Australian government announced the full implementation of the Modernising Business Registers (MBR) program. The program is designed to both establish the new Australian Business Registry Services…

On the 2nd October the Victoria Government announced they would support construction businesses with cash grants for the 2 week closure of the construction industry. Applications are now open. If you are a managed business client of ours,…

The question of motivating employees is often on a business owner’s mind. It can be difficult to find ways to genuinely motivate employees at work, and often the old standards—performance-based bonuses, increased rewards and commissions—only…

The Victorian Government have announced some additional assistance on 4th September. This covers a 4 week period, which ends on 30th September 2021 as we drive towards our vaccination targets. The majority of payments are automatic top-ups…

With cryptocurrencies gaining notoriety, many people are unclear on how or when they can be taxed. Despite widespread belief to the contrary, you can be taxed on gains made as a result of obtaining or using cryptocurrency. If you’ve made a…

On 3rd August the Andrews Labor Government issued legislation to make it a requirement for landlords to help eligible businesses that have endured a serious trading downturn due to no fault of their own.   Support for tenants *update*  You…

We have just created a new business download that is quite helpful. Over at Optimised Accounting, we love checklist, and if you do too feel free to download this tool. Once your business is up and running, it’s important not to rest…

It’s one thing to manage workers when they’re all in the same place at the same time. However, when you run a construction business with field workers, things can get a lot more challenging. Not only are you typically not on the same job…

If you ask 100 business owners what they like least about running a business, chances are good that bookkeeping will rank high on the list. It’s an annoying and frustrating chore that takes up a lot of time and is easy to put off until tomorrow. Avoiding…

Australia has had its fair share of disasters over the last few years – drought, bushfires and floods – that have ramped up the volume of insurance claims. Most people would assume that if and when they need to claim on their insurance,…