Accounting

Business Tips, Ideas & Support Articles
Accounting

Electric Vehicles and Fringe Benefits Tax (FBT) Exemptions

Electric Vehicle FBT Exemption: What’s Behind the Fashionable Concession? Your Questions Answered   What type of Electric Vehicle is exempt? First, the Electric Vehicle  must be a “car” as the FBT law defines it. A “car” is: A vehicle designed to carry less than 1 tonne, and A vehicle designed to carry less than 8 passengers Electric utes over 1 tonne are not “cars” and are therefore not exempt under these rules – there are special FBT rules for utes and don’t assume they are always exempt from FBT. Motorcycles, scooters and similar vehicles are not “cars.” Second, the car must

Inline Partners May 4, 2023
Hidden cost of remote work
Accounting

What’s in the October 2022 Federal Budget?

The Federal Budget announced on Tuesday night was the second for 2022, and represents the new Government drawing a line under the previous government’s policies. The Budget itself did not present many substantial reforms or initiatives.

Inline Partners October 26, 2022
Hidden cost of remote work
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
Accounting

How we can help E-commerce businesses

E-Commerce accounting: how we can help! E-commerce businesses are experiencing exponential growth and that means more transactions than ever before. From July 2020 to July 2021, Australia’s online shopping grew almost 32 per cent, according to Australia Post. It’s a staggering figure – one fuelled by the pandemic – but this upward trend is set to continue. Those at the helm of an e-commerce business know that the industry is fast paced and unlike any other – and as an e-commerce business grows, finances tend to get more and more complicated. At Inline Partners, we specialise in accounting services for the

Inline Partners December 6, 2021
Hidden Costs of Remote Work for Businesses
Accounting

Small Business Failure

There are 3 key reasons for small business failure and all are preventable. Set yourself up for success right from the beginning.

Inline Partners November 5, 2021
ChatGPT prompts to improve business finances
Accounting

Federal Budget Summary 2021

Watch our Federal Budget Summary 2021.  This is a recording of the webinar held on 14 May 2021 and provides a summary of the key budget initiatives which impact on small to medium businesses.

Inline Partners May 14, 2021
Accounting

Business Accountant: What Business Owners Really Need

You start a business with great intentions, hopes of making a difference and expectations of making a living. Most people don’t go into business to become billionaires, and nobody goes into business to…

Inline Partners June 22, 2020

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