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Categories: All, Accounting adjustments, Advice, GST Credit, GST credit claims, JobKeeper, Legacy, News, Super, Tax, Tax Rates, Technology,
Trivia
At avance, one of our core values is fun. We recently had an in-house trivia night. Here are some of the questions – do you know the answers? 1. Bubblegum was invented by an accountant – true or false? 2. The song “I will always love you” was popularized by…
Proposed FBT Exemption for Electric Vehicles
The Government announced a proposal to cut the tariffs and remove fringe benefits tax (FBT) on electric cars from 1 July 2022. If enacted, this will apply to the FBT year that ends on 31 March 2023. Vehicles eligible for FBT exemption are defined as zero or low emission vehicles.…
Keeping your data safe as a remote worker
Using public WiFi in cafes, hotels and coffee shops is something we all do. It’s convenient and gives you the benefits of working online wherever you happen to be. But are you aware of the data security issues of working from a public network? In an age where remote and…
Business Strategies for Battling Inflation
We see it every day. The national news cycle is saturated with coverage of the effects of inflation - on our households, our businesses, and our communities. It’s natural to view this phenomenon as something that happens to us - a worrisome event impacted by forces beyond our control. And in a…
The Importance of Data Back-Up
Have you ever lost a lot of really important data? Or, alternately, have you ever had a moment of panic where you thought you did? Backing up your data regularly will help you to avoid the crushing feeling that comes with finding out that all your hard work and treasured memories are…
Queensland Land Tax is Changing
As from 30 June 2023 the Revenue Legislation Amendment Act 2022 Qld will impact Queensland landowners. Currently Land Tax in Queensland is calculated only on the value of non-exempt landholding in Queensland. From 30 June 2023 this will change to also include non-exempt landholding in other states. The inclusion of…
Interest expenses – The deduction that attracts the greatest ATO attention
In looking at the ATO’s overview of taxation-related statistics (‘Taxation Statistics 2016-17’), interest continues to be (by far) the highest deduction claimed by individual landlords. Based upon individual rental property schedules received by the ATO, approximately 46.5% of total rental deductions claimed are interest deductions, with an average interest deduction…
Should I delete unused apps from my smartphone?
Unless you’re meticulous about phone maintenance practices, there’s a good chance you’re toting around far more apps than you need. Cleaning up your apps will make your phone easier to navigate, perform better, and also make it more secure. Old apps that no longer get updates or that you haven’t…
What did you have for dinner last night?
"Roast pork and vegetables" said Heather, "curry chicken and rice" chirped Ken after a moment's thought, "chicken wraps and salad" Katrina stated, whilst Michele greeted me with "leftover pulled pork" from her daughter's wedding party she hosted.... these were answers to my "good morning, what did you have for dinner?"…
Due dates for your tax return
If you’re lodging your own tax return, you need to lodge it by 31 October each year. If 31 October falls on a weekend, the due date to lodge your tax return is the next business day after 31 October. If you choose to use the services of a registered tax agent, they…
