Whether you’re starting a brand new business or have been running a small business for years, you’ve probably asked yourself at some point, ‘why do I need an accountant for my small business?’. While every business is different, there are a number of key ways that a small business accountant can save you time and… Continue reading Why Do I Need an Accountant For My Small Business?
Buying a business can be a great investment. It allows you to hit the ground running with an already established, profitable structure rather than having to start your own from scratch. On the other hand, it can also come with plenty of challenges. When asking yourself how to buy a business, it’s important to address… Continue reading How To Buy A Business In Australia
As the world grapples with the economic impact of the Coronavirus, the Australian Government yesterday announced their economic response to the threat, which we have summarised below. The government has also confirmed that the surplus it had planned to deliver is extremely unlikely to be achieved. With various reports of the mortality rate, it seems one of the most… Continue reading Coronavirus Stimulus Package
Victorian Employers need to be informed that as of the 1st November 2018 there will be significant changes to Long Service Leave (LSL) Entitlements. Employees Employees are now entitled to take Long Service Leave after 7 years of continuous service with one employer as opposed to 10 years. An employee is able to request Long Service… Continue reading Changes to the Long Service Leave Act
As of the 1st of July 2019, the government will impose changes to increase the maximum number of allowable members in new and existing SMSF from 4 to 6. The increase in member size is expected to provide greater flexibility for larger families to jointly manage retirement savings. Benefits of the change Will assist the… Continue reading SMSF Member Limit Change
At RDV Business Solutions we aim to provide you with a quality tax return at a competitive price and our valued expertise of tax legislation will ensure that you maximise the tax benefits. We would like to give you notice to start arranging all your tax information as soon as possible in order for RDV… Continue reading It’s Tax Time
As some of you may already be aware, a major change to property depreciation legislation has been implemented. The federal government has passed through a new legislation which will place restrictions on claiming depreciation deductions for second-hand items in properties. Property investors that exchanged contracts to purchase a second-hand residential investment property after the 9th… Continue reading Changes to depreciation legislation for Australian Residential Property Investors
The federal government budget will introduce a proposed change whereby the responsibility for remitting GST on the sale of new residential premises will shift from property developers to purchasers. As the law currently stands, developers collect GST from the purchasers as part of the buying price and then send it to the ATO. As… Continue reading Attention Property Developers!
In my time I have seen the wrong loan structure on numerous occasions. Some simple advice and strategy to think ahead could save you thousands. An ordinary home loan consists of an amount of money borrowed, typically over thirty years that you gradually pay back over time. If you have made extra repayments, most facilities… Continue reading Mortgage Offset Accounts
The temporary absence rule (Section 118-145) is not something you think about when you move out of our principal place of residence and commence using the property as a rental property. I have been seeing a lot more of it lately in practice so thought I would share, and hopefully it provides you with a… Continue reading How to Minimise CGT Implications on Former Main Residence