Dear Friends CGH Accounting has enjoyed a wonderful year and Jason & I would like to take this opportunity to thank you all for your continued support. Word of mouth still accounts for 95% of our business growth and we are as always very grateful for the continued patronage. Tax time is upon us again…

How do tax deductions work? When submitting a tax return you are entitled to claim deductions for expenses incurred while working – known as work related deductions. To be able to claim work related deductions you must meet the following criteria: • you must have record to prove it • you must have spent the…

It’s common in certain trades for people to be taken on as independent contractors rather than employees. Independent contractors are in theory treated as small businesses, with all the tax implications covered elsewhere in this chapter, the most significant of which are a potential obligation to register and account for GST and to account for…

There’s no doubt that the explosive growth of Bitcoin and other similar crypto-currencies has been the financial fad of 2018 so far. With explosive growth in recent months (and periodic crashes), it’s been possible to make (and lose) substantial sums of money over startlingly short time periods and many inexperienced investors (or should we call…

Dear Friends CGH Accounting has enjoyed a wonderful year and Jason & I would like to take this opportunity to thank you all for your continued support. Word of mouth accounts for 95% of our business growth and we are as always very grateful for the continued patronage. Tax time is upon us again and…

How do tax deductions work? When submitting a tax return you are entitled to claim deductions for expenses incurred while working – known as work related deductions. To be able to claim work related deductions you must meet the following criteria: • you must have record to prove it • you must have spent the…

If you’re starting a small business, here’s what you need to do for tax So, you’re setting up a new business and you need to know the tax implications. The first question you’ll need to consider is what structure to use. Do you form a company, or maybe a trust or do you simply set…

ATO targets investment property owners The Australian Tax Office is targeting the 1.8 million people – or about 8% of the population – who own an investment property in 2015. The boom in investment property ownership throws up particular challenges for the ATO, both in making sure that they know exactly who owns what and also…

SUPERANNUATION SHAKE-UP: HOW WILL THE BUDGET AFFECT YOUR RETIREMENT SAVINGS? There were a number of major changes made in the recent Budget which will impact many people. Broadly, the winners are low-income earners and those with lower super balances whilst those with high super balances (or those who hope to make large future contributions based…

There’s less than a month to go until the end of the tax year so now is the time to be thinking about some last minute planning to maximise your refund for the year. So, what should you be doing as we head towards June 30? Running your own business? If so, look to utilise…