Taxvisors Financial Group

⚡ Small biz owners need to know this…

If you purchased a new ‘electric’ asset for your business last financial year, you could save big 👇

From 1 July 2024 there are changes to pay as you go withholding schedules and tax tables.

Start the new financial year off on the right foot. If you employ staff, make sure you’re withholding the right amount of tax from your employees, and pay and report the correct amounts to us.

We are excited to announce our next sponsor for the event Taxvisors – founded by Sohail Merchant.

Sohail Merchant is a taxman, serial investor and a human calculator. As a taxpert he has assisted thousands of clients over the last 15 years and saved millions in taxes to individual investors as well as businesses.

The best part is Merchant’s company ensures that their client goes from mediocre investing to high net worth investing using low risk, high return strategies. With their market renowned Tax strategies, they assist clients to transition from First time investing to experience investing and high net worth investing while achieving their passive income targets quicker and assist them in creating a real estate business out of property investing.

Thank you so much Sohail Merchant for entrusting your belief in us and being a part of our first ever event Real Estate for Women Summit - Sydney Chapter. And, for all of you people out there, if you still haven’t registered yet?

The clock is ticking!!!

Click on the link below and get onboard NOW!

Institute of Public Accountants

Episode 25: Six Strategies to Make $ix Figures: Strategy #1 'Rooming Houses' Do you want to make some serious money in real estate? You're lucky because this podcast episode discusses six different strategies to make $ix figures in re...

https://www.afr.com/wealth/personal-finance/seven-reasons-to-gift-your-estate-to-a-family-trust-and-three-not-to-20230418-p5d1a0

Seven reasons to gift your estate to a family trust (and three not to) Testamentary trusts are the favoured vehicle for estate planning but it’s worth exploring an alternative if you already have a family trust.

Crypt-Oooooo 🎃👻

Not sure of your tax obligations when it comes to assets? We’ve got all the info you need to help you get it right!

Tip: if you’ve already lodged your return this tax time, and forgotten to include any gains or losses from crypto, it’s not too late to make an amendment.

Learn more at www.ato.gov.au/Individuals/Investments-and-assets/Crypto-asset-investments/

Earned income from overseas last financial year? 🌏

Whether you were paid share dividends, earned business income, or accrued interest from an overseas bank account, you’ll need to include it as income in your .

Learn more at www.ato.gov.au/individuals/income-and-deductions/income-you-must-declare/foreign-and-worldwide-income/

❌ "My friend says I can claim all my car trips to work." We all have “that” friend! Don’t get your tax advice from a mate. 🙅

✔️ Talk to a registered tax agent or view our tailored occupation guides to make sure you’re claiming no more and no less than what you’re entitled to.

Read more at www.ato.gov.au/Individuals/Income-and-deductions/Deductions-you-can-claim/

We’ve compiled answers to some of the questions we received during our webinar ‘Work-related expenses’. Do you know if credit card statements can be used as a valid record for work-related expenses? How can you apportion mobile phone usage if your client doesn’t have itemised bills showing their calls? Can you claim a deduction for your clients that work from home but haven’t kept any records? Find out the answers to these questions and more: http://ow.ly/sTx150KJSop

💵 The shadow economy, also known as the cash economy, impacts all Australians. While it’s okay to receive cash for work, not reporting that income is illegal.

In our latest in-language podcast episode, we shed light on the shadow economy, how it operates and key behaviours to keep an eye out for, such as:

❌ businesses under-reporting income
❌ skimming transactions
❌ under-paying staff.

We also share how you can do your part to help the community by reporting a tip-off to our confidential Tax Integrity Centre.

Listen to the podcast now in Arabic, Korean, Mandarin or Vietnamese at www.ato.gov.au/podcastlanguages

🌼 Spring has sprung! Take the opportunity to spring clean your super with the ATO app!

The ATO app is secure and helps you to easily keep track of and manage your super. You can:

✔️ find lost super
✔️ view details of your super accounts
✔️ quickly access ATO online to consolidate multiple accounts to save on fees and charges.

For more info, visit www.ato.gov.au/app

https://www.apimagazine.com.au/news/article/is-it-time-to-fix-your-mortgage-interest-rate

Is it time to fix your mortgage interest rate? Is it time to fix your mortgage interest rate? Choosing between a variable or fixed rate mortgage is always a gamble but by examining a range of economic variables it's possible to shift the odds in your favour, as this in-depth analysis from Investor Partner Group highlights.

Meet Zaara 👋

Zaara has decided to upsize and buy a new home to live in 🏡 Instead of putting her cosy unit on the market, she’s going to rent it out!

Since it’s an investment, Zaara will need to make sure she declares any income she earns from the rental property in her next tax return.

This includes any:
✔️ rent or bond money paid by her tenants
✔️ insurance payouts received from unexpected events.

To learn more about rental income you need to declare, visit www.ato.gov.au/Individuals/Investments-and-assets/Residential-rental-properties/Rental-income-you-must-declare/

For any further information, feel free to contact us anytime.

Taxvisors Financial Group updated their phone number.

We are Hiring

Junior Accountant

We are a small but growing accounting firm that is looking to have a new team member onboard and be part of our journey as we grow as a practice.

Requirements

•Tertiary qualification in accounting and plans to study CA\CPA.
•1+ year experience in public practice.
•Experience with tax returns and financial statements for companies, trusts, partnerships and individuals.
•Must have experience with XERO and QuickBooks
•Excellent attention to detail, good communication skills and ability to manage your own time efficiently with self-motivation and initiative.
•Positive, polite and enthusiastic personality.

The Role
The duties & responsibilities include but are not limited to

•Preparation of Tax returns and financial statements across all entities.
•Preparation of IAS & BAS
•Communicating with the ATO, ASIC and other third parties when required.
•Bookkeeping (data entry, BAS, bank reconciliation, payroll).
•Other duties required to support the team.

Benefits
• Immediate start
• Flexible working hours
• Ongoing training
• Office close to public transportation

How To Apply

The job is based in Melbourne. To apply please forward your resume directly to [email protected] quoting Junior Tax Accountant.

For any further information, feel free to contact us anytime.