Not all taxpayers may be aware of how the use of valuations can affect their annual tax bill. Are you aware of how valuations can affect your tax bill? Click To Tweet
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Running a successful small business sometimes requires an up-skilled team. If you need your employees to grow their expertise in a particular area, spotting them for short-courses, seminars, one-day intensives, professional qualifications or a bunch of “101s” can be a worthwhile endeavour. A deduction is generally available for the costs of providing education to employees Click […]
If your business is looking to put on more staff, first of all: congratulations! But secondly, a warning … The engagement status of workers is an important distinction – whether they are employees or independent contractors – and has consequences that can get many employers into unforeseen hot water.
Christmas will be here before we know it, and it is likely that employers will already be thinking about their yuletide preparations. You may also be thinking about how to manage FBT and Christmas.
Income tax “bracket creep” happens when an increase in income moves you from one tax bracket to the next, resulting in a higher tax rate, and therefore reducing the overall gain from your higher salary.
Are you a company director? Better brush up on your responsibilities! Company directors need to keep in mind that the Corporations Act holds directors personally liable for many of the legal and financial obligations expected from a company.
Businesses in Australia are required to deal with the goods and services tax (GST) in various ways — from charging customers 10% and paying the Tax Office the tax collected, to claiming GST on purchases.
A Self Managed Super Fund (SMSF) can be a very powerful retirement savings vehicle. It’s good for long-term wealth accumulation and asset protection within a tax-effective structure. There is plenty of scope, however, to lose your footing over some of the required (and numerous) compliance tasks. If mishandled, the potential pitfalls can work to outweigh the […]
Pay as you go (PAYG) instalments is a system for making regular payments towards your expected annual income tax liability. It only applies to you if you earn business and/or investment income over a certain amount.
It’s safe to say Australia has a penchant for small business. Around 90% of Australian businesses are small to medium-sized entities (SMEs). Taxes on small business are lower than they’ve been in the last decade. It’s one of our healthiest and fastest growing sectors.
Synectic is a Chartered Accounting and Advisory firm that brings together the skills of accountants, business advisers, financial planners, self-managed superannuation experts, and auditors. Our team operates state-wide from Devonport, Hobart and Launceston offices.
We offer the depth of knowledge, specialist skills and progressive resources usually associated with much larger firms. Yet our size and availability allows us flexibility and enables us to develop an in-depth understanding of your business and financial affairs.
A: 49 Best Street, Devonport
P: (03) 6424 1451
A: 30 Burnett Street, North Hobart
P: (03) 6239 4900
A: Suite B, First Floor, 99-103 George Street, Launceston
P: (03) 6337 6777
M: PO Box 6003, Devonport, TAS, 7310
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