Round 4 of the Queensland Small Business Grants Program now open
The Small Business Entrepreneur Grants Program provides matched funding of up to $5000 to eligible businesses to participate in training, engage a marketing consultant, legal/financial advisor or business coach. This is a great opportunity to further establish and grow your business. The business name must have been registered within the last four years and have […]
Tips For Lodging Your Own Tax Return
An article courtesy of The Sydney Morning Herald is a handy reference for people lodging their own tax return. It covers: – Car expense claims – Mobile phones and internet – Home office – Clothing and laundry – Meals, accommodation and travel – Self education – Holiday rentals/rental deductions – Cryptocurrencies like Bitcoin – Ride-sharing […]
$5000 in Government funding for small Qld businesses up for grabs
Matched funding of up to $5 000 (excluding GST) may be provided to eligible businesses to participate in training, engage a consultant, advisor, or business coach for up to three months to help establish or develop your business. The training, advice or services must fall under one or more of the following areas: – mentoring/coaching […]
ATO cracks down on ‘other’ work-related deductions
This is the headline that keeps popping up in my news feed. This means the ATO is doing it’s best to get the message out there to all tax payers, be conscious of what you claim as a work related expense. In an interview with Acuity, Australian Tax Commissioner Chris Jordan took the time to […]
A new year, a fresh business start
When people hear new year’s resolutions, they often think of ‘joining a gym’ or ‘eating healthily’. But have you thought about creating resolutions for you business? A resolution, after all, is a commitment to do something differently to bring about a positive change. Our top four resolutions for your inspiration: 1. I will keep on […]
2017 tax return due date
If you’re lodging your own tax return they are due by the 31 October 2017 deadline. However, if you need more time, you have up until 15 May 2018 to lodge through your accountant. Using an accountant means you don’t miss out on all the deductions you could eligible for. Impala Accountant’s tax preparation fees […]
What if you’ve made a mistake on your BAS?
Are you a small businesses that has made a mistake or left something out of your previous Business Activity Statements (BAS)? No worries – it’s easy to fix! Impala Accountants can correct previous mistakes when we lodge your next BAS or we can lodge a revision form online. Or for more information follow this link […]
How to never miss a tax deduction again
Skip the hassle of misplaced or faded receipts by recording transactions as you go. Simply enter the details or snap a photo of the receipt, then save it using the ATO’s MyDeductions app. You can also wave goodbye to a paper log book, by saving your trips electronically when managing your work-related car expenses. If […]
Beat the ATO penalties by lodging 15th May 2017
Tax returns for all remaining individuals and trusts have up until 15th May 2017 to lodge to avoid penalties. Companies who were not required to lodge earlier also fall into this category. Your tax obligations don’t go away the longer you ignore them, so take one small step today and simply pick up the phone […]
Working holiday changes from Jan 2017
Do you employ working holiday makers in your business? From 1 January 2017, the ATO has enacted changes to apply a 15% flat rate of tax on the first $37,000 of income earned by working holiday makers. The balance of the income will be taxed at the ordinary rates applied to resident tax payers. The […]
