The Bottom Line Business Advisory

Where your business grows

The Bottom Line Business Advisory Pty. Ltd.
is a CPA Practice

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Bookkeeping for small businesses

Why Bookkeeping Matters for Small Businesses: Organizing Information: Bookkeeping helps organize financial data, making it easier to understand and analyze. Tax Compliance: Accurate bookkeeping ensures you have the necessary information for tax reporting (gross receipts, expenses, assets, etc.). Budgeting and Resource Allocation: Tracking cash flow allows you to allocate resources effectively. Informed Decision-Making: Well-organized books … Continue reading Bookkeeping for small businesses

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Own an investment property? Implement this from the get-go to make taxation easier…

Don’t make the mistake of going into an investment without thinking about taxation. Let’s say your property is being used to generate income at any time. Ensure to: figure out which expenses you can claim as deductions work out whether you need to pay tax instalments throughout the year declare all rental income in your … Continue reading Own an investment property? Implement this from the get-go to make taxation easier…

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Growing your superannuation

Personal Super Contributions: You can boost your super by adding your own personal contributions directly to your super fund. If you claim a tax deduction for these contributions, they’re considered concessional contributions and come from your pre-tax income. These contributions are taxed within the fund at a rate of 15%. Growing Your Super: Your superannuation … Continue reading Growing your superannuation

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Lodging your tax return

A tax return is a document you submit to the tax authorities (such as the Australian Taxation Office, ATO) that outlines your income, expenses, and other financial details for a specific period (usually a year). It helps determine how much tax you owe or if you’re eligible for a refund. Keep in mind that the … Continue reading Lodging your tax return

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ATO advises not to lodge too early…

The Australian Taxation Office (ATO) advises against early tax return lodgment. Here’s why: Avoid Mistakes: Taxpayers who lodge in early July are twice as likely to make errors. Rushing increases the chances of missing crucial information, especially if you have income from multiple sources. Automatic Loading: From late July, employers, banks, government agencies, and health … Continue reading ATO advises not to lodge too early…

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New financial year is approaching!

new financial yearGet ahead of the new financial year by preparing, especially considering the latest tax cuts! Here’s how… Review Your Income and Expenses: Take a close look at your income sources, including salary, investments, and any other earnings. Also, track your expenses to understand where your money is going. Consider any changes in your financial situation, … Continue reading New financial year is approaching!

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Types of Super Funds

Choosing a superannuation fund can be confusing, here’s a good starting point… Industry Funds: Run by industry associations or unions. Tailored to specific industries. Costs are usually low to medium. Profits get reinvested for the benefit of members. In-House Corporate Funds: Managed by a board of trustees chosen by the employer and employees. Designed for … Continue reading Types of Super Funds

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What’s new at the Bottom line?

TBL – We are GROWING! Over the past 2 months, TBL has silently grown it’s team obtaining new additional offshore staffs who have been very impactful in the bottom line of our business. Both from the Philippines, Bryan is an Accountant, his expertise and extensive experience in financial analysis and expertise in managing complex financial transactions has helped him to get a deep understanding of the financial principles and regulations. Diana plays the role of Practice admin who manages the compliance and all the administrative works of the firm. Her expertise revolves in working with ASIC Annual Statement,  invoicing, work set up and coordination with team in completion of the tax works for the clients. Having the new offshore team, we seamlessly blended our organization, working neck to neck and  growing with passion and making an extraordinary team providing quality service to our clients.  When finding members, we are always in fine edged for good energy, optimistic attitude and willingness to learn attributes that make them exceptionally trainable and versatile workers.  Having Bryan and Diana as part of the Team in the … Continue reading What’s new at the Bottom line?

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New individual tax rates and ​thresholds for 2024 – 2025​ ​

New Individual income tax rates and thresholds will come into effect from 1 July 2024.  If you are an Australian taxpayer, you are entitled to the tax-free threshold of $18,200. This means you can earn up to $18,200 each year without paying tax.  Thresholds in 2024 -25  Rates in 204-25 (%)  0-18,200 Tax free 18,201-45,000 … Continue reading New individual tax rates and ​thresholds for 2024 – 2025​ ​

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Tax brilliant tip for FY 2024

Looking for ways to get more money back?  How about these? Some Ways to save Tax using Superannuation 1. Salary sacrifice You can cross-examine with your employer to pay some of your salary into your super.  This salary sacrifice is usually on top of the superannuation guarantee minimum percentage payments that your employer is obliged by … Continue reading Tax brilliant tip for FY 2024

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