Interactive Accounting

What Makes a Good Accountant in Today’s Tech Age

When posing the question ‘what makes a good accountant?’ not so long ago, a lot of stereotypical images sprung to mind of someone huddled behind a load of ledger documents, a calculator and pencils. However, in this technical age what makes a good accountant has evolved considerably. Today’s great accountants have become a consultant to …

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Innovation Statement: The tax implications you need to know

In its Innovation Statement released today, the Government has sought to remove the fear of failure by proffering tax breaks and changes to insolvency laws to provide greater flexibility for entrepreneurs and investors in innovative start ups. Key tax measures include: Same business test relaxed to become a ‘predominantly similar business test’  The current ‘same …

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Changes to car expense claims are coming: fringe benefit tax update

If you’ve ever used a vehicle for business travel, you’re already aware you can write-off part of your travel expense. You’re probably also aware of changes to the way travel expenses and Fringe Benefits Tax are calculated. Changes from 2015 FBT year Here’s the Cliff’s Notes version: From April 1, 2014, the Australian Federal Government …

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EOFY Tax Planning Tips – Important things you need to know

Turnover under $2m? Heard about the $20K asset deduction? Before you start spending, there are a few things you need to know….   Are you making a profit? If your business isn’t making a profit, you will have a much smaller benefit because you aren’t currently paying tax. You will only be able to defer …

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2015 Federal Budget – What does it means for you?

2015 Federal Budget How will you be affected? The Federal Government’s second budget has been anointed the ‘Fair Go’ budget. What it can really be described as is short-term relief with no major focus on long-term strategy for Australia’s future. The main feeling from this budget is that of being a little underwhelmed, with the …

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Why cloud software is starting to get interesting

I started using cloud software like Xero, WorkFlowMax, Unleashed and Shoeboxed for the first time in 2011. Accountants like me became known as early adopters and it was electrifying to be involved in the early stages of the small business cloud software revolution. It was well overdue. Back then, whilst it was exciting, the little-talked-about …

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