Westcourt

Running a fixed asset and tax register

The governments temporary full expensing of assets has changed the concept of depreciation.   If your family business buys an asset it is deductible in full the year it is ready and it is not expensed over its useful life. Classically the tax depreciation of an asset roughly lined up with the time-period that the asset… Continue reading Running a fixed asset and tax register

Small business enjoys independent tax review

The Tax Office have made their independent review service a permanent feature of the tax landscape.  The service is open to any business with a turnover under $10m.  So, if you are being audited by the Tax Office, and you receive notification of the audit results, you can request an independent person with the ATO… Continue reading Small business enjoys independent tax review

How to automate a sales quotation and win business

The practice of issuing a quote to your customers is an important part of running a small to medium sized business and should be part of your overall business plan.  The quote will give your customers an indication of price, service expectations and turnaround times. Around Perth the practice of requesting a quote is now… Continue reading How to automate a sales quotation and win business

10 Steps to consider before hiring staff internationally

The decision for a family business to employ staff in another country is a common first step to setting up a presence in another country.  So, before you start to officially employ staff you should consider the following steps. 1. What entity is going to employ the person? Many countries require that a contract of… Continue reading 10 Steps to consider before hiring staff internationally

Getting an understanding of personal services income

Tax law has a fundamental premise that the income of a person belongs to that person regardless of how they structure their affairs.  And for many smaller operators like IT, legal and medical professionals this concept of bringing the income home to the relevant professional is expressed in the concept “alienation of personal services income”.… Continue reading Getting an understanding of personal services income

What is Furtli Advisor and how can it help families in business

Furtli advisor is the best of breed business accounting and financial analytic software.  It can help West Australian business families with profit, cashflow and balance sheet forecasting, scenario modelling and reporting that is tailored to your business.  And with the plug-in options like Xero for accounting data, the use of Futrli as a business reporting… Continue reading What is Furtli Advisor and how can it help families in business

What to do in a Tax Audit

What to do in the event of a tax audit with our advisors Nick and Adam.

How to Maximise Your Deductions

A very common question that we get from a lot of clients, is what can we claim and how do we claim it and how does it work?

Tax Concessions for Tech Start-ups

The government has introduced grants, concessions, and programs that encourage Australians to invest and create business through tech.

Tax Obligations of the Building Construction Industry

If we’re looking at fringe benefits tax, where we try and talk about it existing with other taxes is this concept of a reportable fringe benefit

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