With Tax Time now underway, now is a great time to take stock of all the money you’ve spent on work-related items during the course of the year. The question is, are you claiming everything you’re entitled to? The general rule is that if you incur an expense as part of your job and aren’t…

Tax Implications When Buying a Holiday Home Every year, the ATO looks closely at tax claims which relate to holiday homes to ensure that people aren’t over-claiming tax deductions. The boom in holiday home ownership throws up particular challenges for the taxman, both in making sure that they know exactly who owns what and also…

There’s no doubt that the explosive growth of Bitcoin and other similar crypto-currencies has been the financial fad of 2018 & 2019 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…

Whether you’re planning to sell your small business or just beginning to consider your options, there’s no right or wrong way to go about it. While every small business is different, being clear about your sales process can help you make smarter decisions, minimise your risk and protect your interests. Here are some things to…

Nobody likes completing a tax return but you have to do it, so you might as well get yourself the best possible outcome by claiming everything you’re entitled to. Here’s CGH Accounting’s guide to the top tax tips for tradies:   CLAIM TOOLS AND EQUIPMENT You probably use a variety of tools every day and…

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…

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…