The Bottom Line Business Advisory

Where your business grows

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

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Client Information Newsletter – June 2019 issue

THE BOTTOM LINE PDF -June-2019  Records for claiming work-related expenses. Essentials on Taxable payments annual reports.  ATO actions on truts and tax avoidance.  Personal deductions for car parking expenses.

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Apportioning GST annually for business and private purchases

The general case regarding GST credits is that business owners can claim input tax credits relating to eligible business expenses when you lodge your business activity statement (BAS), which may be monthly or quarterly. However it is not unusual for business owners to occasionally make purchases that contain a private use component. Where expenses are … Continue reading Apportioning GST annually for business and private purchases

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Your business, your car, and blind driving!

  In an ASIC recent review of externally administered companies for financial year 2015/16 it has been found that external administrators lodged 9,465 reports to ASIC citing the major causes of failure as: Inadequate cash flow or high cash use in (4,318 or 46% of reports) Poor strategic management of business (4,315 or 46% of reports); … Continue reading Your business, your car, and blind driving!

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How to succeed in business?!

Many of the small business owners choose to focus on their own technical skills ignoring working on their business, in his book The -E-myth Michael E. Gerber refers to three types of business owners; a) The Technician. b) The Manager. c) The Entrepreneur. Business owners will always need to change hats between all three types, … Continue reading How to succeed in business?!

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Do you need an accountant or a bookkeeper?!

Time is changing! Most of accounting software are in the cloud and growing rapidly. The accounting profession is changing from compliance and taxation to becoming more commercial focused and value added profession. the boundaries between bookkeepers, accountants and CPAs are dissolving. Taxation and compliance are no longer the only focus! A bookkeeper (the friendly helpful … Continue reading Do you need an accountant or a bookkeeper?!

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