Articles, Updates and Information to help you

What worked in your business

Revealed -Business owners share their most effective secrets Many business owners may not necessarily be doing everything right, but they certainly are to people to ask about what does and doesn’t work in the business world. At our recent business networking event we discussed the topic of what things they did that brought them greatest…

Common Questions Answered

Listen to tax agent Romeo Caporaso of Tax Accounting Adelaide explain some commonly asked Australian Tax questions: How long does it take to get your tax refund back? How long do I need to keep my deduction receipts for? Why are my refunds back but not my spouses yet? When do I have to pay…

Consider this before starting a multi-level or network marketing business

By Romeo Caporaso About Multi-Level Marketing At some point in life, you will have come across some multi-level marketing (MLM) or network marketing business opportunities. Although incentives vary between companies, it usually offers the chance to ditch your 9-5, fire your boss, sell products you believe in, establish your own business, make lots of money,…

Nine benefits of web blogging for small businesses

By Romeo Caporaso Small business owners often ask me, “Should I create a blog?” Or say, “I’m busy enough. And what should I write about?” For my business, I’ve seen the difference that blogging makes to building trust, reputation, website visitors, and ultimately sales. And I’m not alone.  Clients tell me that they’ve generated business…

Business Growth Secret Revealed – using a marketing calendar

using a marketing calendar Many business owners may not necessarily be doing their marketing planning this way or may choose to be doing this in a similar way. Either way, using a marketing calendar can be hugely successful strategy to grow your business through effective marketing. What is a marketing calendar? A marketing calendar is…

how to exploit cold calling

What business owners say about cold calling Our business networking group Adelaide Referral and Knowledge Exchange discussed cold calling and ways to make cold calling work better for your business. Firstly, it is best if you cold call yourself or train staff to sell on your behalf rather than attempt to use an overseas telemarketing…

Budget 2016 Update

Budget 2016 Announcements Big changes to Super, long term incentives for business… This post is about the budget 2016 announcements. It has been one that is positive for businesses, but some big changes to super. The GST rate of 10% will continue and so does negative gearing. This information is general and law is not…

Business basics for newly arrived Australians

Tax basics for those newly arrived in Australia starting a business Apply for an ABN Apply for an Australian Business Number to comply with the Australian tax laws Produce a complying tax invoice for your sales Do you need a trading name? A business name other than your name needs to be registered Choose an…

le tasse per nuovi arrivati Italiani in Australia

Le tasse Australiane spieghate da un commercialista    Le tasse Australiane spiegate da un commercialista Le cose semplici da sapere riguardo le tasse Australiane Come funziona la tassazione in Australia Sei Italiano emigrato in Australia e cerchi aiuto per la dichiarazione dei redditi Australiana? Questo breve video e’ mirato a illustrare le cose principali…

Bookkeeping by Spreadsheets versus accounting software

Should you move from spreadsheets to accounting software… Why should I move from spreadsheet bookkeeping to using accounting software? I am often asked when businesses are new or fairly new, if they should do their bookkeeping in a spreadsheet and probably not sure why using accounting software like Xero could actually be beneficial. Yes doing…

Getting your staff right and retained

How to hire the right staff Here is some guidance on how to hire good staff and make it work well for your business. clearly define a role with the position description spend time developing staff managing a business sounds very hard but is hard if you have to do it all your self share…

How to stop dealing with a bad supplier from ever happening again

How not to be ripped off by a bad supplier Here are some quick lessons to consider so that you never again do business with a bad supplier: ask around if anybody knows the person you’re potentially dealing doing business with protect yourself by documenting processes and quotes especially if they have only been discussed…

5 Quick ways to grow your business

5 Little known keys to exploding your business growth If you are a business owner, chances are you are always looking to do something better in your business. Here are 5 quick ways to get growth in your business: Refine and fine tune your target market Use the referral umbrella system. Make a list of…

Getting word of mouth referrals

How to get word of mouth and referrals Here are some little tweaks to boost your referrals from word of mouth. Be clear to people that you are taking on new clients When asked how you are doing in your business, say you are busy but you can always do with new clients Make it…

Simple ways to save on losing money on bad debts

How to avoid bad debts Here are some tips on the topic how to avoid nasty bad debts: It’s very important to have an engagement letter which outlines your price and scope of services fully, make sure this is legally signed before you proceed work. Include a clause which states that you will pass on…

Is it worth having a tax agent?

Is it worth paying a Tax Agent or Accountant It is no secret many people do their own tax returns directly with the ATO by the paper form which is dying out as the ATO would like everything lodged electronically to lower costs. So you need to download E-tax software from the ATO and lodge…

is it ATO or Scammer? Look Out

Some of my clients have reported people ringing from supposedly the tax office and it can be a fraud as they request tax payments from you. Here is an excellent publication from the ATO on the various types of scammer out there. It might be worth seeing if any of these example seem similar to…

30000 Immediate Asset Write Off

Good news the instant asset write off for 20k is now 30k. As we have explained before, it is a tax deduction for small business and not a refund. Small business means you must have turnover of less than $2m. Small businesses can immediately deduct one or more assets costing less than $20,000 purchased (ready…

Improving Your Sales Meeting Conversion tips for Business

tips to improve your sales meeting conversions Here are some tips on the topic how to successfully turn your sales or lead meeting into more new business Have a good preparation for your meeting, including having a standard question base to do a great needs analysis on the client, this will sell you well as…

Claiming car expenses

  What you can claim Did you know you may be able to claim the cost of your car when travelling when: You travel between two separate workplaces – like having two jobs or between two branches from your normal workplace to an alternative workplace (for example, a client’s premises) while still on duty, and…

Most common mistakes for personal tax

Did you know what the most common mistakes on individual tax returns are Surprise surprise – it is omitting income. So if you are not yet aware the ATO can easily detect you omitting income such as payment summaries, interest, dividends, Centrelink payments and even capital gains all via your TFN being attached to records…

What Can I Claim

No one should miss out on claiming their deductions Your tax agent can assist you claim deductions which stop you paying your marginal tax rate on the amount you spend on the deductions. It is always important to help your accountant do the best job for you by keeping your receipts and collaborating with them to…

How to Sell at The Price You Want

Tips on making sure you don’t undersell the value of your goods or services Have you ever had a customer or client wanting to bargain down your price or quote to a offensively low level, but you haven’t really known how to assert or defend the value of your price or quote. This month, our…

Claiming Car Costs Related to Work

In some circumstances you may be able to reduce your tax by utilizing a deduction for work related travel using your car. The most common methods are the Cents per km method Log book method The first is probably the most simplest as it requires you to keep less receipts and invoices. In some circumstances…

Reducing Your Medicare Levy

Reducing Your Medicare Levy In some circumstances, you may be able to reduce your Medicare Levy and hence pay less tax. Certain examples which you may need to consider include: • where you have a low family income which may entitle you to a Medicare levy reduction • some certain medical conditions e.g. being blind…

Tips on How to Stay Motivated in Your Business or Professional Life

This month, our business networking group discussed ways of how to stay motivated in your business and career. This was a great discussion and revealed many of us having our ups and downs on the motivational front. 1.Keep a scoreboard at regular intervals such as monthly, sitting with someone else and discussing financial performances is…

Avoiding Scams and tax frauds

Tips on avoiding scams and tax frauds What not to give Your tax file number, credit card details, identification and signatures, banking passwords, clicking on suspicious links and of course don’t transfer your money to scammers. Simple tips talk to others if not sure is it too good to be true check http://www.scamwatch.gov.au/ ask you…

Why You Should Only Use a Registered Tax Agent

Tax season is coming, are you thinking of looking for a good tax agent to maximise your tax benefit? Here are some of the benefits to have a registered tax agent: Tax agents must register with the Tax Practitioners Board and follow strict regulations when processing tax returns. They are the only people allowed to…

End of Year Xero Payroll Tips

End of Year Xero Payroll Tips With the year end fast approaching it is time to think about your employees’ payment summaries. To avoid busy time the end of financial year, here are some tips on what you can do now to prepare for the things that are due soon. Auto Super For Xero Payroll…

What To Do When You’re Not Generating Enough Leads

Is your business not getting enough new business leads? If so, do not panic, here are some things you can do. Review where you are spending most of your time, generally people not getting enough leads are spending not enough time on generating new leads. So try to take yourself out of the business and…

Tips for Business With Staff Problems

This month, our business networking group discussed ways of how to stop staff hurting your business or how to keep your staff. This was a great discussion and revealed many new ways business owners are using to keep and retain good staff. If you keep losing staff, give your staff ownership of tasks  and projects…

Long Services Leave Tax Treatment

In one of our previous articles, we mentioned about the tax treatment of employee termination payment https://www.taxaccountingadelaide.com.au/tax-treatment-when-you-leave-your-job . In this article, we provide some more detail on the tax rate for the unused leave on the termination of employment, such like annual leave, long service leave, holiday pay, leave loading, leave bonuses. Below we outline…

Tax Treatment When You Leave Your Job

It is hard times and there is no such thing as a stable job these days it seems. Many often wonder how your final pay is taxed… The tax treatment of your final payment depends on how your employment was terminated. Resign If you decide to leave the job and your position is not abolished,…

Medical Expenses Offset Phase Out

The government announced in 2013-2014 Budget that the medical expense offset will be phased out gradually. So what does it mean for the taxpayer? From 1 July 2013, if you claimed out-of-pocket medical expenses for the 2012-2013 income year, you will be eligible for this offset for 2013-2014 income year. Similarity, for those who receive…

Thank you for opting in for our top tax tips

You shall shortly receive our emails giving you details of our top tax tips and everything you need to know before you do your tax return. Here is a taste of what is on its way to your email in the coming days Did you know there is a way to reduce some of your wages tax to 15%? How the rich reduce their tax and get richer On us – a quick lesson in common tax deductions What is involved in getting a good tax return…

How To Donate and Make Sure It Is Tax Deductible

How To Donate and Make Sure It Is Tax-Deductible Donating is a great thing to do, but it’s always essential to make sure who you are donating to a registered charity and if the charity is actually receiving your donations. Here are some tips on what you should check before donating: Checking the person who…

Tips and Traps of Using Facebook for Business

Here are some tips on the topic of using Facebook for business. Let’s say that Facebook isn’t for everyone, but even if you do not have your own personal Facebook account – someone else can do this for your business provided it works for your business. Try delegating it to someone who loves facebook but…

Using Delegation to Grow Your Business

Here are some tips and knowledge on the topic of how to successfully delegate:. If you are a micro-business or a one-man band and you have no one to delegate to, you can still delegate to someone such as virtual personal assistant or find some of the most time-consuming tasks and pay someone to do…

Australian Tax Treatment of Working Overseas

Australian Tax Treatment of Working Overseas Working overseas can seem to be a hugely rewarding financial period for many Australian workers, however, there can be many tax traps that need to be avoided. The way income is earned and taxed overseas can be a complex area, and it is worth seeking advice that can save…

Five Quick Marketing Tips

All businesses are always looking to new revenue by marketing better ways, here are some quick tips to help you on your way. Make sure you check your grammar and spelling on all your marketing material and Web content. Develop a system which tracks where you are getting all your revenue growth from. Ask for…

How to Build Credibility

At our recent business networking meeting our members discussed how to create credibility in your business or professional role. Here are some of their ideas and tips: To keep your focus on value not price. Have a good online presence via positive reviews and people website with social media presence Find ways to add value…

How to Sell Your Property

How to Sell Your Property We all want to sell our home in a short time and at a possible high price, however, it can happen that some houses are there on the market for months. This may be due to some reasons discussed below. Do you find a good real estate agent help you…