Yellow Crane & Co. - Your Local Accounting & Tax Specialist

As tax time is well and truly in full swing, please do not forget about your tax obligations for 2025. Here is a list of key tax dates for September and October 2024.

Your upcoming tax calendar for September and October 2024

Should you buy or lease your new equipment? Here are some pros and cons of each. We also can review your financial position, cashflow and cost base to decide whether buying or leasing is the right thing for the business.

Should you buy or lease your business assets? Should you buy or lease your new equipment? Here are some pros and cons of each. We also can review your financial position, cashflow and cost base to decide whether buying or leasing is the right thing for the business.

New Migration Amendment Regs 2024 are shaking up the immigration landscape.
Important for small business owners as they impact both employers and the so-called ‘golden handcuffs’ that previously tied sponsored workers to their employers.

New Migration Regulations - what you need to know. New Migration Amendment Regs 2024 are shaking up the immigration landscape. Important for small business owners as they impact both employers and the so-called ‘golden handcuffs’ that previously tied sponsored workers to their employers.

The withholding tax rate for the capital gains tax regime for non-residents is proposed to increase from 12.5 per cent to 15 per cent and the $750,000 property value threshold is proposed to be removed and reduced to nil.

Changes to Capital Gains Withholding tax

It’s never too early to start planning for a smoother EOFY tax process. We’ve got some tips for sorting out your tax and making EOFY less of a headache next year.

Getting your small business tax in order It’s never too early to start planning for a smoother EOFY tax process. We’ve got some tips for sorting out your tax and making EOFY less of a headache next year.

The start of the 2024–25 income year brings about the commencement of several measures that
support welfare, small business concessions, tax cuts etc. Here's what you need to know...

Tax and compliance changes in effect from 1 July 2024 The start of the 2024–25 income year brings about the commencement of several measures that support welfare, small business concessions, tax cuts etc. Here's what you need to know...

Following up on invoice payment in a down economy

Following up on invoice payment in a down economy It can be challenging following up on payment of invoices when the economy has been down, but it is important to keep cash flowing into your business. As with all business dealings right now, there are tactics you can use to help.

Keeping your tax and expenses in check when you are self-employed

Keeping your tax and expenses in check when you are self-employed Working for yourself or running your own business? Setup robust systems for expenses & tax requirements so you can focus on your important tasks. We can help take the headaches out of your business accounting.

As the end of the tax year is fast approaching, here are some important changes for individuals to be aware of for 30 June 2024.

Tax changes that you need to be aware of for 30 June 2024

The ATO will have additional time to notify a taxpayer if it intends to retain a business activity statement refund for further investigation.

The ATO gets extra time to investigate BAS refunds

A 12 month extension to the $20,000 instant asset write-off (due to end on 30 June 2025) is currently going through the parliamentary process, with an aim to improve cash flows and reduce compliance costs for small businesses.

Instant asset write-off extended for small businesses

Get possible allowable deductions and personal tax cuts sorted now and make your tax time easier

Tax planning and strategies for individuals for 30 June 2024

Tax planning is important for small businesses, here is what you need to know now to prepare your strategy

Small business tax planning and strategies for 30 June 2024

In today's rapidly evolving retail landscape, technology is not just a tool but a transformative force.
For small retail businesses, embracing technological advancements can be the key to unlocking growth and staying competitive. Here's how..

Harnessing Tech Advancements in Retail: A Guide for Small Businesses In today's rapidly evolving retail landscape, technology is not just a tool but a transformative force. For small retail businesses, embracing technological advancements can be the key to unlocking growth and staying competitive. Here's how..

The start date of the proposal to expand the scope of the general anti-avoidance provisions for income tax (originally announced in the 2023 Federal budget) has been deferred in the 2024 Federal Budget.

The proposed expansion of Part IVA deferred

The proposed measures that required ABN holders to be more accountable and comply with income tax return obligations in order to keep their registration, will not proceed.

Cancellation of ABNs for late lodgments to not proceed

The ATO has finalised the practical compliance guideline PCG 2024/2 to assist in separately identifying home charging costs for electric vehicles from the total electricity consumption of a residential premises.

Electric vehicles home charging expenses — guidance finalised

DIY accounting might sound like a good economy, but investing in an accountant could be the best financial decision you make as a business owner.

DIY accounting vs hiring an accountant: make the right choice for your business DIY accounting might sound like a good economy, but investing in an accountant could be the best financial decision you make as a business owner.

Individuals, small businesses and not-for-profits are set to benefit from a new measure announced in the 2024 Federal Budget, giving the Commissioner power to not use tax credits to offset old tax debts.

The Commissioner gains power to not apply refunds against old tax debts

A 12 month extension to the $20,000 instant asset write-off (due to end on 30 June 2025) has been announced in the 2024 Federal budget, with an aim to improve cash flows and reduce compliance costs for small businesses.

Instant asset write-off extended for small business

Are you making any of these accounting mistakes? We’ve outlined the top 5 accounting pitfalls that small business owners trip over, so you don’t have to make the same mistakes

5 common accounting mistakes (and how to avoid them) Are you making any of these accounting mistakes? We’ve outlined the top 5 accounting pitfalls that small business owners trip over, so you don’t have to make the same mistakes

Hundreds of dollars are set to be wiped off eligible HELP debts and other student loans, under a pre-budget measure announced by the Federal government which will reduce indexation and hence the outstanding loan balances.

Taxpayers with HELP student loans set to receive indexation credits

The 2024–25 Federal Budget is out, here are the highlights sharing what you need to know for you financial year ahead

2024–25 Federal Budget Highlights The 2024–25 Federal Budget is out, here are the highlights sharing what you need to know for you financial year ahead

Announced in the 2024 Federal budget as an integrity measure, are changes to the foreign resident CGT regime that will ensure foreign residents pay their fair share of tax.

Foreign resident CGT regime – integrity changes to be adopted

As we move into the business end of tax planning for 2024, here is a list of key tax dates for May and
June 2024. Be aware of your upcoming tax obligations here.

Your upcoming tax calendar for May and June As we move into the business end of tax planning for 2024, here is a list of key tax dates for May and June 2024. Be aware of your upcoming tax obligations here.

Tax time 2024 is fast approaching and with many individuals still working from home partially or completely, this quick guide can assist you with completing the calculations for claiming the deduction.

Your guide to claiming working from home expenses for 2023–24 income year Tax time 2024 is fast approaching and with many individuals still working from home partially or completely, this quick guide can assist you with completing the calculations for claiming the deduction.

Investors in build-to-rent developments now benefit from an increase to the capital works deduction, in an effort to encourage investment and development in the build-to-rent sector.

Proposed income tax concessions for build-to-rent investments

The Labor Government has announced changes to personal tax rates that will provide a tax cut for every Australian taxpayer commencing from 1 July 2024. The Bills proposing these changes have received royal assent to become law.

Revised stage 3 tax cuts now law

In an initiative to promote women’s economic equality, the Labor government has announced plans to pay superannuation on paid parental leave (PPL) for government-funded payments from 1 July 2025.

Government superannuation contributions to be added to paid parental leave

The ATO is reminding businesses to lodge any overdue taxable payments annual reports for 2022-23 or prior years, by 22 March to avoid being penalised.

Lodge your overdue TPAR now to avoid penalties The ATO is reminding businesses to lodge any overdue taxable payments annual reports for 2022-23 or prior years, by 22 March to avoid being penalised.