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In order to ensure that the right assets go to the right beneficiaries, you need to sort out your estate plans regardless of the size of your superannuation benefits. You will need to get holistic estate planning advice and have arrangements in place to review your estate plans regularly.The rules o ...
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Resolving problems with insurance companiesThere are three steps you can take to resolve issues with your insurance company:Contact the insurer - Explain the issue to them by phone, in person, or in writing.Make a formal complaint - If you are not happy with their response or if the problem c ...
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The best way to do the bookkeeping for Cryptocurrency is to record every transaction related to Cryptocurrency. This will look like a very long process, but it will reduce our time while reporting. Record Cryptocurrency: Debit your cash account if you are selling it for currency. Create a new cryp ...
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Inflation in Australia is the highest it has been since the early 1990s. The Australian economy is expected to continue to grow this year, too, so with this highest inflation in place, it’s important to assess the viability of the business.Business viability refers to a situation in which a busine ...
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ATO Updates (August 2022)
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Car expenses: cents per km ratesThe ATO has finalised a legislative determination that from 1 July 2022, work-related car expense under cents per kilometer has increased from 72 c/km to 78 c/km.ATO Reasonable Travel AllowancesATO has released its annual ruling setting out the amounts i ...
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Worried about QuickBooks Discontinutaion?
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QuickBooks, the popular small business accounting software, is no longer available in India. The go-to software that helped you manage your income and expenses and keep track of your business’s financial health has now been discontinued in India, but worry not, we got your back.For m ...
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ATO Updates (July 2022)
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It’s time for tax agents to get ready for the new tax time in 2022 and the most important thing they have to do is to roll over the system and update the work papers.The Australian Taxation Office (ATO) has warned people not to double-dip in their deductions this year or run the risk of being audi ...
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Debt consolidation can make it easier for you to manage your repayments. But it may cost you more if the interest rate or fees (or both) are higher than before. You could also get deeper into debt if you get more credit, as it may tempt you to spend more.Here are some things to consider before decid ...
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Accounting firms are automating their practices and adopting cloud-based tools where they can focus on expanding their services and growing their business. We have seen many accounting firms that have already adopted and many of them who are in the process of automation.The benefit of automation is ...
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The start of the financial year is going to be the starting point for planning the business cycle for the next twelve months.1. Understand the Market – Every day, new technology or new business, or new trends are happening. We must know the opportunity and adoptability of the new technology ...
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