What can our tax accountants do for you?
Expert Tax Accountants in Perth
Our team of tax accountants make the accounting process simple, so you can focus your time on doing what you do, better. Whether you need to lodge a tax return, start a business, or require on-going support with your accounts, we crunch the numbers and don’t let opportunities pass you by.
What our clients say
Taxpro always takes the time to explain everything to us so we fully understand how we are going financially and with this information we have been able to grow our business to what it is today.
What I really appreciated most, is I can simply text, email or phone any time if I need advice or support and the job was never too small or too complicated for Joseph and the staff at Taxpro.
Latest news
Stay up to date with all our latest news, guidance and regulatory information from our tax accountants here. We like to focus on the practical implications of changes to tax, insurance and financial planning legislation as well as offering insights on topical issues relevant to our clients.
Working from home tax deduction extension ends soon
If you are currently working from home, you can continue to claim 80 cents per hour tax deduction by keeping a record of the number of hours you have worked at home until 31st December 2020. This is instead of calculating all the specific expenses you normally claim from working from home. You just need to keep a timesheet of hours worked (from the date you started to work from home) as evidence of your claim in your tax return. This simplified way of making the tax deduction was implemented to help those who were not used to working from home. Now, there is only a month left of these temporary arrangements, so if you are planning to work from home into the New Year, you will need to choose another method for claiming working from home deductions. Calculation methods You can either continue to account for the hours you work at home at the previous fixed rate of 52 cents per hour, or calculate your actual running expenses which includes: Heating Cooling Lighting Cleaning Decline of value of furniture used for business Phone [...]
Keeping on top of your BAS
BAS due dates just creep up on us, don’t they? We try to support our clients with ways to make their ‘financial’ life at least a little bit easier. BAS and GST can be confusing at the best of times. With the government financial assistance schemes helping to support job retention, cash flow and asset write-offs; potential incomes losses; and working from home instead of an office, your business activity statements might look very different to your usual statements. We are here to help and offer the tax expertise to make the process easier for you, so mistakes are avoided. Here are some of our top tips: Get organised This is without doubt the most important piece of advice we can give you. You need to account for all income and all expenses within the quarter (or month if you lodge monthly). This includes sales, running costs, equipment purchases, wages, interest, supplier costs etc… and you will need to be able to justify all transactions. While many receipts now come in a digital form that you can save on your computer, you will still [...]
Borrow and still claim the instant asset write off!
Need new equipment for your business? Many companies are taking advantage of the temporary full expensing, an extension of the instant asset write off scheme, that allows eligible businesses (any business up to $5 billion turnover) to claim an immediate deduction for the full cost of eligible depreciable assets, of any value, that will be first used or installed by 30 June 2022. These depreciating assets include new or second-hand (for companies with an aggregated turnover less than $50m) business vehicles, plant equipment, tools and office equipment to name a few. Some of these may be big ticket items that you don’t have the funds to pay for outright, or you don’t want to put a further strain on your cash flow. In which case, equipment finance might be the better option. The good news is that if you require finance to purchase your new asset, in most cases you will still be eligible to claim the immediate deduction as long as it was purchased after 6 October 2020. Having a broker negotiate equipment finance on your behalf is the smart way to go [...]
Our partners
CALL US
08 9240 7629
EMAIL US
VISIT US