Canberra Accountants

🎄✨ Merry Christmas & Happy New Year! 🎉🎅 Canberra Accountants would like to thank all our amazing clients for your support throughout the year! 🌟 As we wrap up 2024, we wish you a festive season filled with joy, love, and laughter. 🎁🎄 📌 Holiday Closure Notice: Our office will be closed from 20th December 2024 and will resume on 6th January 2025. 🗓️ We look forward to serving you in the new year with the same dedication and passion. Stay safe, enjoy the holidays, and see you in 2025! 🥳✨ Warm wishes, The Team at Canberra Accountants ❤️

🎓💸 Big news for Aussies with student loans! The Albanese Government has passed legislation to reduce student debt by $3 billion for 3 million Australians! Here’s what it means for you: ✅ Indexation fixed – capped at the lower of CPI or WPI. ✅ Backdated to 1 June 2023 – last year’s 7.1% spike is reduced to 3.2%. ✅ Credits or refunds applied automatically by the ATO. ✅ Average HELP debt holders will save around $1,200. If you’ve already repaid your debt, refunds will be issued (if no other govt debts are outstanding). 💡 Got questions about how this affects you? Canberra Accountants is here to help! Drop us a message. 📩

🎓💸 Big news for Aussies with student loans! The Albanese Government has passed legislation to reduce student debt by $3 billion for 3 million Australians! Here’s what it means for you: ✅ Indexation fixed – capped at the lower of CPI or WPI. ✅ Backdated to 1 June 2023 – last year’s 7.1% spike is reduced to 3.2%. ✅ Credits or refunds applied automatically by the ATO. ✅ Average HELP debt holders will save around $1,200. If you’ve already repaid your debt, refunds will be issued (if no other govt debts are outstanding). 💡 Got questions about how this affects you? Canberra Accountants is here to help! Drop us a message. 📩

🚀 New Business Owner? Get a FREE Consultation to Streamline Your Taxes! 🚀 Starting a business is exciting, but managing taxes can feel overwhelming. At Canberra Accountants, we're here to make sure your tax obligations are handled smoothly—so you can focus on growing your business. 🎯 We’re offering a FREE consultation to help you get set up for success. During your session, we’ll cover: ✅ Key tax obligations every new business owner needs to know ✅ Best practices for efficient record-keeping ✅ A straightforward approach to filing business tax returns With expert guidance from our team, you’ll have the confidence to drive your business forward while we take care of the numbers. 📊 Ready to simplify your tax management? 📞 Contact us today to book your FREE consultation #BusinessSuccess #TaxConsultation #CanberraAccountants #NewBusinessJourney #TaxStrategy #Entrepreneurship #SmallBusinessSupport

🚀 New Business Owner? Get a FREE Consultation to Streamline Your Taxes! 🚀 Starting a business is exciting, but managing taxes can feel overwhelming. At Canberra Accountants, we're here to make sure your tax obligations are handled smoothly—so you can focus on growing your business. 🎯 We’re offering a FREE consultation to help you get set up for success. During your session, we’ll cover: ✅ Key tax obligations every new business owner needs to know ✅ Best practices for efficient record-keeping ✅ A straightforward approach to filing business tax returns With expert guidance from our team, you’ll have the confidence to drive your business forward while we take care of the numbers. 📊 Ready to simplify your tax management? 📞 Contact us today to book your FREE consultation #BusinessSuccess #TaxConsultation #CanberraAccountants #NewBusinessJourney #TaxStrategy #Entrepreneurship #SmallBusinessSupport

📣 Attention Business Owners! Are you using your business money or assets for private purposes? Here’s what you need to know about the tax consequences. 🔑 Key Points to Consider: Business Money for Private Use = Tax Consequences Make sure you're handling these transactions correctly to avoid unexpected tax outcomes. Types of Transactions to Watch For: Salary and wages Director fees Fringe benefits (e.g., company car use) Dividends to shareholders Trust distributions to beneficiaries Business loans used personally Ad hoc drawings or reimbursements Two Simple Steps to Avoid Issues: Account for these transactions in your company, trust, or personal tax returns. Keep accurate records of every transaction. Record-Keeping is Essential: Regularly cross-check records with original documentation to catch mistakes early and manage cash flow more effectively. Stay on top of your business finances and avoid surprises! Contact Canberra Accountants for expert advice. #TaxTips #BusinessOwners #CanberraAccountants #TaxCompliance #RecordKeeping #BusinessFinance

Did you earn income between 1 July 2023 and 30 June 2024? If so, your tax return is due by 31 October 2024. Don’t let the deadline sneak up on you! At Canberra Accountants, we make tax time easy. Our expert accountants can lodge your tax return quickly and securely—all done online, so you can file from the comfort of your home or office. 🏠💻 Whether you’re an individual, a sole trader, or just need a little guidance, we’re here to help! 😊 📲 Get in touch with us today and take the stress out of tax season. #CanberraAccountants #Tax2024 #DeadlineReminder #TaxExperts #LodgeOnline #EasyTaxLodgment #NoStress

Claiming GST on Business Expenses – What You Need to Know! Did you know GST isn’t included in all expenses? Sometimes, invoices have a mix of GST and GST-free items. It’s crucial to check your invoices carefully before making a GST claim! GST-Free Expenses include: Land tax Council rates Water rates ASIC filing fees Bank fees, Stripe fees, and PayPal fees Insurance policies often have a stamp duty component (GST-free) alongside the GST-inclusive portion. The takeaway? Always double-check your invoices and avoid over-claiming! For expert advice, contact Canberra Accountants today! #GSTTips #TaxTime #CanberraAccountants #BusinessTax #GST

Understanding the Concessional Contributions Cap: Important Update for 2024 From 1 July 2024, the concessional contributions cap for your superannuation will increase to $30,000. But did you know you can boost this cap with unused amounts from previous years? Here’s how it works: Carry Forward Unused Cap Amounts If you’ve contributed less than the concessional cap in the past, you can carry forward those unused amounts for up to 5 years! To be eligible: Your total super balance must be less than $500,000 on 30 June of the previous financial year. You must have unused concessional contributions from the past 5 years (starting from 2018–19). How it Works: Unused cap amounts from 5 years can be added to your cap. For example, if you didn’t use the full cap in 2019–20, you can still apply it before it expires at the end of 2024–25. The oldest unused cap amounts are applied first! So, your 2019–20 unused amount will be applied before 2020–21. Got questions about how this impacts your super? Contact Canberra Accountants today for expert advice! We're here to help you plan your super contributions wisely. #CanberraAccountants #Superannuation #ConcessionalContributions #TaxPlanning #SuperUpdate #BoostYourSuper

Instant Asset Write-Off ! If your business has an aggregated annual turnover of less than $10 million, you may be eligible for the Instant Asset Write-Off (IAWO). Here’s what you need to know: Claim the total cost of eligible new and second-hand assets under $20,000! Assets must be first used or installed between 1 July 2023 and 30 June 2024. The $20,000 threshold applies per asset – meaning you can write off multiple assets instantly! Only claim the business portion of the expense and keep records to prove it. Take advantage of this fantastic opportunity to boost your business. Take advantage of this fantastic opportunity to boost your business. https://lnkd.in/gxi2xCtr #SmallBusinessSupport #InstantAssetWriteOff #TaxTime #CanberraAccountants #BusinessGrowth #TaxDeductions