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Top Accountants
Tax Return, BAS & Bookkeeping Expert.
Tax Return, BAS & Bookkeeping Expert.

Top Accountants's posts

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As your business develops you may need to adapt to changing needs. One common change is moving from a sole trader to a company business structure.

Use the Key differences between sole traders and companies checklist to guide you through important points people often misunderstand about business structures, such as:

1. Taxes
2. Liabilities
3. Responsibilities
4. Asset protection
5. Ongoing costs.

Knowing the key differences will help you understand which business structure will work best for you as well as your obligations, so you can get things right from the start.

Remember, registered tax agents can help you with tax and super advice. For more information, contact us at

#topaccountants #soletrader #company #businessstructure #soletraderorcompany

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Owner-managed businesses often do their own accounting and bookkeeping to try and save money. When it backfires, they come to small-business specialist.

Getting an accountant is not a lifestyle decision, it’s a business decision. Investing in professionals – or changing the way you use them – can bring considerable returns.

So why you need to get an accountant or bookkeeper?

I specialise in helping owner-managed businesses so I see a lot of clients who started off doing their own books. They come and see me when the job becomes too big or when they start making mistakes and losing money.

There are so many things an accountant do such as:

1. Clean up your books once and for all
2. Do your tax really well – and on time
3. Improve your invoicing and cash flow
4. Get the power to make better decisions
5. Boost your profitability
6. KPIs in action
7. Lower your tax burden
8. Avoid fines, interest and audits
9. Identify and eliminate unnecessary costs from your business
10. Help you measure and improve business performance

For a peace of mind this financial year, it is important to meet all your tax and compliance obligations for the EOFY period.

Visit: meant to help small businesses and start-ups stay on top of their game with bookkeeping and more.

#topaccountants #whyyouneedaccountant #accountantsbenefit #taxaccountants

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A tax guide for UberEATS riders!

If you’re currently a UberEATS rider or are considering signing up, we’ve put together a handy UberEATS tax guide to help ensure you get your tax obligations correct.

According to the ATO any payments you receive while working as a UberEATS rider is considered income and must be declared on your tax return.

Here’s everything you need to know about UberEATS tax implications:

1. Register for ABN
2. UberEATS riders DO NOT need to register for GST
3. Riders must declare all income earned
4. Keep a record of your UberEATS expenses
5. Declare UberEATS income on your individual tax return
6. You’re responsible for paying tax on your earnings and also superannuation contributions

Need help predicting how much you should save? Talk to a tax agent like Top Accountants. To be on the safe side it’s always smart to save a bit extra, as it’s much nicer to have some money saved than to owe the ATO money!

For more information visit:

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If you’re in a startup, it can be an exciting world of creativity and innovation. But while it’s great to do something you love, you also need to make a living. So how can you live the dream and ensure your cashflow is well managed?

There's a lot to think about when running a business. Good accounting software can make life easier, helping you manage jobs like inventory, staff payroll and taxes. Here's how it could work for you:

1. On-screen input and printout of sales invoices
2. Automatic updating of customer accounts
3. Recording of suppliers invoices
4. Automatic updating of suppliers accounts
5. Making payments to suppliers and for expenses
6. Automatic updating of the general ledger
7. Automatic adjustment of stock records
8. Integration of a business database
9. Automatic calculation of payroll and associated entries

For more information, visit:

#topaccountants #taxaccountants #bookkeeper #smallbusinessbookkeeper #bookkeeping #knowyournumber #profit

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What tax deductions for freelancers can I claim?

If more than 50% of the income you earn from freelancing is from your knowledge, expertise, skills or labour then the ATO will define your freelance income as Personal Services Income (PSI).

This applies to most freelance work and means there are a few other items you might be eligible to claim. Examples of additional tax deductions for freelancers who earn PSI include:
• Advertising and quoting expenses
• Industry license and registration fees
• Banking and accounting fees
• Relevant insurance and liability fees
• Home and office expenses
• Depreciation of assets used
• Car expenses
• Superannuation contributions
• Mobile phone use
• Parking

Have a question or concern, give us a call on 1300 009 007 or email the team on

#topaccountants #taxtips #freelancertax #fivertaxdeductions #upworktaxdeductions #freelancertaxdeductions

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What are work-related travel expenses?

If you incur any travel related expense that directly relates to your specific job function, you may be eligible to claim a deduction. Depending on your circumstances and provided you have the necessary documentation, you can claim the cost of transport and incidentals, and, if you were away overnight, even meals!

What types of work travel expenses qualify?

Travel expenses you can claim on your tax return under item D2 can include:
1. Accommodation
2. Incidental expenses
3. Air, bus, train and taxi fares
4. Bridge and road tolls
5. Parking fees
6. Car hire charges
7. Meals (if your travel included an overnight stay)

Do you have any thoughts on claiming travel expenses on your tax return? Email us on

#topaccountants #worktravelexpenses #taxreturn #traveldeduction #taxtips #traveltaxsaving

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Choose accounting software that lets you concentrate on your entrées, not expenses!

When you opened that new café – it was because you wanted to bring something new and delicious to your customers.

Yet a solid accounting foundation is part of any recipe for a successful hospitality or restaurant establishment. From inventory to POS to cashflow, it’s like having to learn another language but with online accounting software, it isn’t hard at all.

Online accounting software makes it easy to track and report on all the important parts of your business so you can spend more time delighting your customers and growing your business.

For popular bookkeeping features that can improve your business, visit:

#topaccountants #bookkeeping #onlineaccounting #cloudaccounting #cafebookkeeping

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Tax Tips: Studying to improve your current career where you’re already working? Self-education expenses can be great tax deductions.
If you meet the eligibility criteria, then there are a range of tax deductions you might be able to claim, such as:
1• Course/tuition fees (Not including HECS/HELP)
2• Stationery and textbooks
3• Student service fees
4• Union fees
5• Amenity fees
6• Equipment depreciation and repairs (eg. laptop, printer)
•7 Car expenses (if applicable)
For more information, visit: #topaccountants #taxtips #taxreturn #selfeducationtax

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As a small business owner, taxes are likely at the bottom of the list of things you’d like to do in your spare time. Doing your taxes can be painful, but it doesn’t have to be that way.

Ditch the spreadsheets:
There’s lots of technology tools you can use at tax time that will do the heavy lifting for you. This can free you from those cells and rows.

Don’t wait ‘til the ball drops:
December is typically too late for small business owners to start thinking about their taxes. By thinking about them year-round, you can prevent the early-year scramble.

Once you’ve clicked ‘file’, take stock
With the real-time data in your accounting software, and the advisory expertise of your accountant, you can plan for taxes proactively and prevent any problems before they arise.

For more tips, visit;

#topaccountants #taxes #lesstax #companytax #businesstax
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