Earning Personal Services Income & What You Can Do About It
Ever walked into an accountant’s office hoping to get some tax advice about distributing some business income to your spouse or children but were told that it is not possible
Category: Accounting Advice
Change of Business Structure: Sole Trader to Company
Changing your business structure from a sole trader to a company is a fairly common occurence. Most newbie business owners do not wish to incur the higher costs of setting
Common Bookkeeping Mistakes That Can Cause the Downfall of Your Business
Running a new business is exciting, challenging and fulfilling. It can also be stressful especially when you are juggling many balls in the air all at once, being everything to
Importance of Independent Financial Audits
The key reason for an audit (even if it is not required by law) is to demonstrate the organisation’s commitment to financial transparency. A not-for-profit organisation (eg. owners corporation, church charity or
GST Margin Scheme & What it Means for an Investor
Some time ago, I heard the woeful tale of an investor who couldn’t claim a GST refund for his commercial investment property. Sadly, he had not sought his conveyancer’s and
3 Financial Management Tips for a Not-For-Profit Organisation
Running a charity or not-for-profit organisation requires more than just the best of intentions. Without responsible financial management, things can go awry in no time. It is also important to
Surviving a Recession as an Entrepreneur
Much of the news in 2020 has been dominated by COVID-19 statistics, heartbreaking stories of hardship faced by individuals and business owners, job losses and so on. It’s easy to
Cash and Accrual Accounting in Layman Terms
Occasionally, Glint Accountants receive calls from concerned business owners who request for an explanation of what cash and accrual accounting means. This usually occurs when their business needs to be
ATO’s Data Matching Program
Have you heard about the ATO’s data matching program? If not, here are some salient points. ATO matches external data with their own to help them ensure that individuals and
Is Your Side Hustle a Hobby or Business?
Nearly everyone knows someone with a side hustle. Just to name a few examples, this may include backyard sale of plants, sale of home-made crafts via Facebook Marketplace, online sale