Working from home can come with its own challenges, not least the additional costs that it might impose on you. If you think about it, whilst working from home, you may have an increase in: – utility bills (electricity, water, heating, gas) – use of your personal mobile phone – home internet, and; – maybe […]
As a part of the COVID-19 Economic Response Package, the Australian Government has announced a range of financial benefits to help small and medium businesses. This includes 50% wage subsidies for around 117,000 Australian apprentices and trainees! Who is eligible? Wage assistance will be available to businesses who: Currently, employ and retain an apprentice […]
Be Cyber-Alert In a bid to slow the spread of the coronavirus through social distancing measures, many Australian’s are now finding themselves working from home offices or the kitchen table. This change in our work locations is making us more vulnerable to cybersecurity threats. The Australian Cyber Security Centre (ACSC), has warned of scams and […]
At STS Accounting Group, we are working hard to ensure you are able to understand what you’re entitled to through the Australian Government’s Economic Response Package. We will continue to monitor and update this list of stimulus offers as they come to light. To date here are the current tax relief opportunities: ATO Obligations […]
We welcome Sam Higgins (B.Com Acc) to our Winchelsea office, as both an Accountant and Business Development Manager. We’ve loved getting to know Sam around the office and to share a little about his past, present and future we asked him these 5 questions: What is your working background/qualifications? I spent the initial […]
It is now very clear that we will face many challenges in light of the continuing developments around the coronavirus (COVID-19). WHAT ARE DOING We have a plan in place to ensure our business can continue to operate during this challenging time. We have the ability to have our team work remotely with very […]
The Australian Taxation Office has revealed it will be requesting a further five years’ worth of policy information from over 30 insurance companies about taxpayers who own marine vessels, thoroughbred horses, fine art, high-value motor vehicles and aircraft. Insurers will be asked for policy details on some assets over a certain value Insurers have been […]
Save yourself money this Christmas with these 12 handy tips… If the festive season usually leaves you out of pocket and feeling like you spent more time and money battling the crowds than relaxing with friends and loved ones, why not simplify things this year? Here are some quick and easy tips to help you […]
Cyber Announcement November 13 2019 Update Windows immediately to guard against BlueKeep exploit Outdated Windows systems vulnerable to BlueKeep exploit Security researchers have recently seen a mass exploitation attempt targeting devices vulnerable to the BlueKeep exploit, also known as CVE-2019-0708. This advisory urges our policyholders to ensure all systems are updated to avoid potential attacks […]
To claim GST credits on your purchases, you must be able to demonstrate you’re in business through activities such as: aiming to make a profit keeping records and account books making commercial sales of a product or service marketing and advertising to attract clients drafting a business plan. It’s more likely you’re not in business […]
Unfortunately, as an investment property owner there are a few expenses you can’t claim as a tax deduction against your rental property, contact your STS Accountant for more information on these 7 areas: #1 Travel expenses As of 1 July 2017, you are no longer entitled to a deduction for travel expenses relating to your […]
Spring is a fabulous time of year for house hunting. If you’re considering purchasing your first investment property there are some important factors to think about at the start of your search. For assistance in getting your finances inline before making a bid, don’t hesitate to contact one of our STS expert accountants. In the […]
Making the choice to financially gear an asset is influenced by a number of factors, and should be considered carefully. A quick chat to your accountant at STS Accounting Group will help you assess your personal situation – why not contact us today to discuss your Negative Gearing options? If you’re new to Negative Gearing, […]
Course fees are not the only self-education expenses you can claim as deductions. You can get tax deductions for a huge range of equipment, materials, and other resource costs you incur as part of your education. Below you will find an overview of what you can and can’t claim on your tax when you’re studying. […]
As tax time 2019 kicks off, here are the six most common issues identified by the ATO. #1 – Leaving out some of your income Taxpayers often forget about a temporary job or money earned from the sharing economy. Ensure you declare all income up front as part of your annual tax return. #2 – […]
Did you know that from 1 July 2019, you could lose insurance cover if your APRA regulated fund account is considered inactive? Funds could be considered inactive if there has not been a contribution or a rollover for a continuous period of 16 months. If you have an APRA regulated fund account that is considered to […]
We’ve been writing down tasks, completing some of them, and adding more to lists for years. It seems like a rational way to accomplish the things one must get done, however, as the world moves faster, becomes more connected and more complex, simply writing down everything we have to do, and hoping we will fit […]
Have you considered a mentor for your business? A business mentor, or advisor, can help you take your business from where it is now to where you want it to be. They have the advantage of looking at it from the outside without being tied down by the day-to-day running of your business. A business […]
The concept of lifestyle design has certainly gained a lot of traction in the global community of entrepreneurs in recent years. Certainly, there are financial rewards for the effort, risk and ambition necessary to operate a thriving business. But, monetary success can be achieved with more reliability and definitely less stress in corporate employment. The […]
We come across business owners and managers who diligently study their financial reports soon after they are available. They sometimes challenge the data and presentation of the reports to make them more relevant. Some managers share (parts of) the reports internally for further analysis and action. We also come across business owners who never view […]
