Tax
Tax and Compliance Alerts Sept-Oct 2022
Your guide to ATO, SMSF, Revenue NSW, and other compliance deadlines and alerts for Sept-Oct 2022.
Inline Partners
August 27, 2022
Inline Partners
Business Tips, Ideas & Support Articles
Tax
Your Unpaid Trust Entitlements Could Be Taxed
If you leave a private company’s entitlement to an unpaid share of trust income in the trust, without a complying loan agreement, the trust may have to pay tax on it. Plan now to avoid problems in 2023-2024.
Inline Partners
August 25, 2022
Superannuation
Death Benefit Nomination – Your Superannuation may not go where you want
If you don’t get your superannuation Death Benefit Nominations right, and up-to-date, your Super could end up somewhere other than where you expect.
Inline Partners
August 20, 2022
Inline People
Top of the Class – Meet Sherzod Norboev
Sherzod Norboev is Inline’s quiet overachiever. For three year’s running he’s been Valedictorian in La Trobe University’s Bachelor of Accounting.
Inline Partners
August 18, 2022
Accounting
What’s in the 2022 Budget for small businesses?
It’s no secret that small businesses have been doing it tough over the past two years. With ongoing lockdowns and restrictions in place throughout 2020 and 2021 due the COVID-19 pandemic, many small businesses have been on the brink of collapse. However, the Federal Budget 2022, which was delivered on Tuesday March 29, has detailed some relief for small businesses, particularly those who are looking to invest in new technologies and training courses to upskill staff. Here’s what is on offer: Technology Investment Boost and staff training courses Small businesses that spend money on either new technologies or training courses for
Inline Partners
April 8, 2022
Accounting
Tax returns: How to claim correctly and maximise your refund
Lodging a tax return yourself can be both time-consuming and confusing so it pays to seek the help and experience of an accountant/tax agent. One of the biggest pitfalls for people who decide to self-lodge a tax return is failing to claim what they are entitled to. The truth is many people simply don’t know about all the tax deductions they can claim for or they haven’t kept an accurate record of them. Many others forget to report some income or incorrectly enter figures – both of which can lead to interest and penalties. Here are some of the ways to
Inline Partners
March 15, 2022
Accounting
Three ways to help your small business become profitable
From tech unicorns to online retail stores that have gone global, we all hear about the businesses that have managed to make millions or even billions within a few short years of launching. Yet, for most of the 2.3 million small businesses in Australia, the reality is very different. In fact, for many businesses, it actually takes years before they turn a profit. Profitability According to IBISWorld the most profitable industries in Australia in 2022 are Superannuation Funds with $137.7 billion total profit and Iron Ore Mining with $56.1 billion total profit. Profitability is just one way to measure success. There
Inline Partners
March 1, 2022
Accounting
Choosing the right accountant for you and your business
Choosing the right accountant is important for your business’s financial future and long-term success. Whether your business operates in e-commerce retail, property, health, hospitality or another industry, managing your firm’s finances and tax can be overwhelming. Yet, you might not be at the stage where hiring an in-house accountant or chief financial officer is justifiable. This is where an accountant outside of your business can help. The right accountant will save you time and money through strategic advice. They can assist in setting up systems for you and identifying growth opportunities for your business. So what should you look for when
Inline Partners
February 15, 2022
Advisory
Working Towards Retirement
Working towards retirement? Here’s how to get your finances in order Planning for retirement is an exciting time. However, it can also be daunting, particularly if you’re unsure of how much money you will need to live a comfortable life. Most Australians retire around the age of 65. In 2020-21, men aged 45 are expected to retire at age 65.2, while women are expected to retire almost a year earlier at 64.3. Working towards retirement is a different journey for everyone. Some people move into permanent retirement quickly, while others begin working less hours over several years. Regardless of your situation
Inline Partners
January 9, 2022
Budgeting
Drowning in Debt – Simple Budgeting Tips
Drowning in debt? Now’s the time to devise a budget Christmas is fast approaching and for many of us, it’s a time when budgeting goes out the window. However, with careful planning, good budgeting is achievable – and that means you won’t have to enter the new year with a huge financial hangover! Where does the money go? While many people spend thousands of dollars on Christmas gifts, food and alcohol, the average Australian shopper will spend about $1,232 this Christmas, (that’s $23.9 billion nationally), according to Finder. Gifts come in at the top for festive expenses, with Aussies expected to
Inline Partners
December 20, 2021
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