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How to increase your customers in 2 key ways

Growing your business means more cash for you now plus a higher sale price in the future when you decide to eventually sell your business.

Over the coming months, we plan to send out to you 4 articles full of ideas to help you grow your business.

Don't lose a tax deduction for non-compliant payments to employees

If you are running a business, you can no longer claim deductions for payments to employees/workers if you have not met your Pay As You Go (PAYG) Withholding obligations.

What can I claim against my tax?

Everyone wants a great tax refund (or the lowest tax to pay). We're here to help you claim every last dollar you can, by working for you, not Mr Taxman. Here are 4 key essentials to get you started.

How much Superannuation should you have right now to be on track for a comfortable retirement?

The choices you make NOW will seriously affect the amount you can spend in retirement.

3 Financial things that will make a huge difference in your financial life

After helping thousands of clients over the past 26 years, there's 3 key things I believe you will incredibly benefit from doing in the next month.

Important: End of 2019 Financial Year Actions for You

Another financial year is about to finish! As a business owner, there are many obligations that you need to consider and action just before and after 30 June.

Big Tax Changes: No tax deductions if you don't meet your tax obligations

There’s recently been a big tax law change that may reduce the tax deductions for many businesses across Australia.

New Minimum Wage Rate from 1 July 2019

The Minimum Wage Panel on 30 May 2019 handed down its minimum wage decision for 2019.

How a Coalition Federal Election win will affect you

Now that the Federal Election has been won by the Coalition, many people are wondering about how this affects their tax position this year. Our combined focus needs to be on how you can save tax before 30 June 2019!

What the 2019 Federal Election means for you!

There is only a short time before the Federal Election on 18 May 2019, and there’s a lot of wild speculation and “fake news” in the media. How can you make an informed decision?

2019 Federal Budget - What it means for You!

This year’s Budget is rather unique as it occurred just before a federal election.

While there are many parts of this years' Budget that apply to future years, we have summarised below the key changes you need to know about for the next 12 months.

What every employer needs to know about fringe benefits

On 31 March 2019, the Fringe Benefits Tax (FBT) year ends. With the ever increasing budget deficits, the ATO will be reviewing whether all employers who should be paying FBT are, and that they are paying the right amount.

To help you meet your fringe benefits obligations, we’ve put together a list of essentials every employer needs to know about FBT and review every year, such as:

Thoughts of the year ahead - Tax + Wealth in 2019

There are a huge number of tax laws that may change this year as a result of the upcoming 2019 Federal Election...

Important: Managing your business cash flow over the holiday period

December is usually the busiest time of the year for retail and hospitality businesses. But businesses in other sectors often find that their sales slow down and their customers stop paying them for a few months. So cash flow dries up.

Are you being Data Smart with your Smart Phone?

Recently, the new shiny iPhone XS and XR entered the market.

For all the Apple lovers out there, this might mean being the first to wrap your hands around the irresistibly smooth all-glass design, or finally upgrading your old glitchy iPhone to the new model.

Xero have increased security on your data, and changed the way you login

Just one easily guessed password can stop your business in its tracks. When it comes to keeping your Xero data secure, put an extra deadbolt on the door with two-step authentication (2SA), and stay safe online. Here are three steps to get you started and why it will become mandatory when using Xero.

The ATO - Don't Say We Didn't Warn You!

We're expecting to see a huge increase in the number of tax audits over the next 12 months. As your tax accountants, we're sharing tips on what to be aware of with the ATO, and how you can protect yourself.

IMPORTANT: Scam Warning – Scammers may be Impersonating Tax Agents

In a recent twist in the 'fake tax debt' scam, we have received increasing reports of a new scam method where scammers impersonate registered agents to lend legitimacy to their phone call. How are they doing this? What to do if you receive such a call...

Beware of tax refund scam

The government has warned taxpayers to be wary of scams that commonly appear around tax time.

Your Important 2018 EOFY Tax Tips + Reminders

Another financial year is about to finish! As a business owner, there are many obligations that you need to consider and action just before and after 30 June. Some of these will help to minimise your tax. Others will reduce your exposure to an ATO tax audit. We have outlined these important end of financial year action points below to assist you.

Get set for a 3.5% increase to base rates of pay

Recently, the Minimum Wage Panel (“Panel”) has today handed down its ninth minimum wage decision which increased the National Minimum Wage, together with all Modern Award minimum rates of pay, by 3.5%.

What the 2018 Federal Budget means for You!

It’s now one week after the Budget was released, and in hindsight there were very few changes that affect most Australians.

Apart from the promised phased personal income tax cuts and the “overhaul” of the R&D tax incentive, the 2018 Federal Budget did not contain many measures that resembled significant tax reform.

Single Touch Payroll - What is it and how does it affect you?

This week the Australian lawmakers passed legislation that requires even the smallest of employers to electronically file each pay run with the tax office using Single Touch Payroll (STP), starting 1 July 2019. Here is our guide and your key questions answered.

Our top 5 cyber security tips to protect your business today

Protecting your business and your data in today’s online world is one of the most important things you can do.

Here’s our top 5 tips to help you and your business.

2 big laws coming in 2018 - will you be affected?

Welcome to 2018! There are 2 big changes in 2018 that may affect you and your business. Without wanting to panic you, big fines may apply if your business (and your employees) don’t abide by these new laws.

5 money mindsets that hold you back

What's holding you back from taking control of your financial future? Discover the five mind tricks that can stop you from achieving financial success and what you can do to avoid them.

The 2 key things that can affect your business value

How can you make your business worth a larger amount when you want to sell it? Before we answer this question, remember: your business will only be worth what someone else is willing to pay for it.

Giving your children money. Loans vs Gifts

What is the best way to provide children with financial assistance? Most parents think they are being kind when they gift money to children, but is that the best course of action? In our latest read below we look into two examples, and three tips to being smart, not sad parents.

Business Owners: What is your end game?

Why do you own a business? It's interesting to consider this question because we are shocked at how many business owners haven't taken the time to consider this fundamental question...

It’s tax time again. What can you claim to reduce your tax?

Everyone wants a great tax refund (or the lowest tax to pay). We're here to help you claim every last dollar you can, by working for you, not Mr Taxman. Here are 4 key essentials to get you started.

Are you paying the correct award rates?

Happy new financial year! We hope last year’s was financially prosperous and here’s to another exciting year ahead.

However, as it is the new financial year, it’s time to ensure that you’re paying up to the correct award rates.

Your 2017 EOFY Tax Minimisation Tips

Another financial year is about to finish! As a business owner, there are many obligations that you need to consider and action just before and after 30 June. Some of these will help to minimise your tax. We have outlined these action points below to assist you.

2017-2018 Federal Budget Update

We at Change Accountants 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 meeting, so we can help you limit your tax payments, and grow your wealth.

Do you have your tax debts under control?

From 1 July 2017, a new tax measure will come into play for small businesses, and we're here to help prepare you for this tax change.

The biggest changes to Super in a decade - how you can capitalise now

Major changes to tax and superannuation have just been approved by the Government in early December 2016. These are the biggest changes in the last 10 years. They are significant.

How to get the most from your accountant | Part 2

Is your accountant ticking all the boxes and adding value to your business? Here's our promised final 5 out of 10 tips to getting the most out of your accountant while managing the cost of their service.

US Presidential Election 2016 - How does it affect you?

After eleven months of campaigning, the US has now voted and elected it’s 45th President, Donald Trump.

How to not lose your family wealth

Family wealth can take a lifetime to accrue, but can also disappear in an instant through poorly considered generosity.

What do the new tax tables mean for you, come 1 October?

The Australian Tax Office (ATO) have released new tax tables that will take effect next week – whether you pay wages or receive a regular wage, here are some tips to get you ready for the changes.

How to get the most from your Accountant

The best accountants add value to your business, all for an affordable cost that you can control.

Don't Roll the Dice - Take HR Seriously!

Do you run a business with employees? If yes, then we can guide you to take care of your Human Resources (HR) the EASY way.

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.

Last Minute 2016 EOY Tax Minimisation Tips

Another financial year is about to finish! As a business owner, there are many obligations that you need to consider and action just before and just after 30 June. Some of these will help to minimise your tax. We have outlined these action points below to assist you.

2016-17 Federal Budget Update

On Tuesday, 3 May 2016, the Federal Treasurer, Scott Morrison, revealed his first Federal Budget. The Budget announcements include some major superannuation tax changes, and other measures which impact individual income tax, small businesses, and corporate taxation.

An Eye for Now, An Eye for the Future

Let tax planning be more than just getting a bigger refund. It’s the last quarter of the financial year. It’s the best time to review your profits, estimate your tax bill and determine what you can do to get your tax bill as low as possible (or your refund as high as possible).

FBT 2016: 5 Things Every Business Should Know

How do I know if I need to pay FBT? What is exempt from FBT? And what to be aware of come 1 April 2016.

SuperStream Deadline Approaching!

The new way of processing Superannuation Payments is almost here. Are you ready?

Give your Super a Boost!

What if we could tell you there's a way to boost your superannuation earnings that reduces the amount of tax you have to pay on your contributions at the same time, would you be interested?

Avoid FBT at your Year-End Party

The holiday season is only a week away. What are you looking forward to doing then?
Fun and festivities with family & friends? “Yes please”, I hear you say.
Frustrating form-filling for FBT? “NO WAY”, you say (shhh, I can hear you from here!!)

Keep your Family Wealth in your bloodline

Are you aware that if any of your children have a failed relationship, their share of your family wealth could end up going to another family?

eSigning - An Easier Way For Us To Work Together

To make things easier and faster for you, Change Accountants is now using an eSigning system which allows you to electronically sign documents received from our office.

Getting Tech-Savvy

Are you making the most of technology in your business?

Steps To Success

What steps do you need to take to grow your business sale value? Business owners are always great at what they do. They know their business inside and out. But what happens when it’s time to sell your business?

More bang for your buck

What’s the best way to avoid disappointment at tax time? Start planning NOW to maximise your tax refund next year!

Earn Qantas Points with your Home or Investment Property Loan

Would you like a holiday just from using a home loan with a LOW interest rate? If yes – then read on!

Thank you! You helped us become Partner of the Year

Change Accountants is thrilled that we have just won the 2015 Xero Accounting Partner of the Year award at the annual Xerocon event in Melbourne, Australia. Xerocon is the biggest accounting conference in Australia. Woohoo!

Keeping your Business Alive

What’s your strategy to keep cash flowing through your business? Give yourself some security by preparing a Cash Flow Forecast for your business.

Another financial year is about to finish!

What do you need to remember, and what are year-end obligations?

As a business owner, there are many obligations that you need to consider and action over the next few weeks. Some of these will help to minimise your tax. We have outlined these action points below to assist you.

Read more

The minimum wage rises again! Are you ready?

1.8 million Australian employees are set to receive a 2.5% pay increase.

From 1 July 2015, the minimum wages in Australia are set to rise by $16 a week. It has been ruled that all Modern Award minimum wage rates and the National Minimum Wage will increase by 2.5%...

Read more

ATO Phone Scam Warning

There has been a recent surge in reports of scammers trying to force their victims to pay fake tax debts over the phone.

2015 Federal Budget

Last week we heard the Treasurer Joe Hockey deliver his second Federal budget, with some key surprises in it, especially for small business.

How To Get BIG Tax Refunds with Capital Protected Shares

Apart from the usual general tax planning strategies (eg. incur business expenses prior to 30 June to claim a tax deduction this financial year), there are only 2 main ways to reduce your tax:

Establish a Self-Managed Super Fund (SMSF) - How to make it your family's wealth VAULT and legally pay NIL tax

Everyone is talking about SMSF's these days. Recent changes to the laws for operating SMSF's have in our opinion made them an option that every one of our client's needs to consider.

Very simply, a SMSF is a super fund that you fully control. You make all the investment choices - including shares, managed funds, property, and cash. SMSF's can now borrow from a bank to purchase investment properties.

Tax Planning Starts Now

There are five key things that all business owners MUST consider RIGHT NOW. Three of them are brilliant wealth creation ideas. Please read on!

The two biggest expenses you will ever have, and you’ll want to make one BIGGER…

In your lifetime you will encounter many, many expenses. Doctors and dentists, cars and houses, repairs and replacements but there are two expenses that dwarf them all.

We’re a lucky country, but will you have enough for retirement?

If you were to watch the news recently (by recently I mean in the last 2 decades) you would think that Australia maybe about to lose its ‘Lucky Country’ tag. However research released by Credit Suisse Research Institute has Australia fairing very well in the wealth rankings.

NEW REPORT: Borrowing Through Your SMSF could be BANNED

At the weekend David Murray handed down his ‘Financial Systems Inquiry Report’, which included 44 recommendations, one of which was the prohibition on direct borrowing by superannuation funds.

Refinance to a “Split Loan” & Reduce Your Tax

Let the Change team show you how to save tax on your home loan (and get the BEST interest rate)

Why has the Australian Dollar dropped?

Several things cause fluctuation in the dollar however, historically the Aussie dollar has been most closely tied to three major factors:

1. Commodity Prices
2. Foreign currencies (in particular China and the US)
3. Interest rates

That’s what they say on the news anyway, but HOW do these things affect the dollar and what actually causes it to move?

Superannuation FROZEN

There’s a lot of hype at the moment as the legislative calendar gets into full swing in the Senate. Recently the government successfully repealed the Mining Tax, which has come with a series of concessions.

Get a life… and a mortgage

Do you enjoy a good bottle of wine? How about that unmistakeable new car smell, holidays or eating out? Of course you do! We do too. In this article we’ll go through what you have to do to buy a home and still ENJOY all that life has to offer.

Investment Update

As the end of the financial year races towards us, we just wanted to give you a quick review of how the market has performed over the last quarter. We look at which sector had gains and which sectors weren’t so great.

Minimum Wage Increase

1.5 million Australian employees will receive a 3% pay bump. The Fair Work commission has recently announced an increase of 3% to the minimum wage. In real terms this increases the minimum wage from $622.20 per week to $640.90 per week.

Read more

Who will PROTECT you from your emotional decisions

We all do it, we make irrational decisions based on emotion. So how can we protect ourselves from, well, ourselves?

Are You SuperStream Ready?

What is SuperStream?
SuperStream is a new Government reform to simplify the superannuation system and make the payment and reporting of super contributions more efficient. Under the SuperStream reform super contributions MUST be made electronically and pass through the SuperStream Network.

Protect your Reputation – Manage your Credit Rating

New credit rating regulations find out who’s been naughty and who’s been good...
Next month, missing a credit card repayment will mean more than a ‘slap on the wrist’ letter in the mail and a possible fine. You’ll also leave yourself open to a nasty black mark on your personal credit rating.

This is general advice only and does not take into account your financial circumstances, needs and objectives. Before making any decision based on this document, you should assess your own circumstances or seek advice from your financial adviser and seek tax advice from your accountants at Change Accountants & Advisors. Information is current at the date of issue and may change.

Change Accountants & AdvIsors Pty Ltd does not give any warranty as to the accuracy, reliability or completeness of information which is contained in this website. Except insofar as any liability under statute cannot be excluded, Change Accountants & Advisors Pty Ltd and its employees do not accept any liability for any error or omission on this website or for any resulting loss or damage suffered by the recipient or any other person.