You generate a taxable capital gain when you sell an asset, like property, for more than you paid. Conversely, you incur a capital tax loss if you sell the asset for less than your original investment. These gains or losses need to be reported on your income tax return, and you’ll usually owe taxes on… Continue reading Understanding Capital Gains and Taxes
Managing cash flow is vital for the growth and sustainability of small and medium enterprises (SMEs). One often overlooked avenue to boost cash flow is claiming Fuel Tax Credits. Specifically, for Perth-based businesses, this article sheds light on understanding Fuel Tax Credits and how they can (through the Australian Tax Office) help your cash flow. … Continue reading How Fuel Tax Credits Can Boost Perth SME’s Cashflow
Cash flow is the lifeblood of any business, and nowhere is this more understood than in Perth’s bustling commercial scene. With the deep knowledge of Westcourt as a business tax accountant in Perth, you have an arsenal of cloud accounting software programs to manage debtors effectively. An SME would not use every Xero cloud accounting… Continue reading 10 Debt Collection Tips Using Cloud Accounting Software
Navigating the intricacies of estate planning and management can be daunting, especially when faced with the unfamiliar term “testamentary trust.” Understanding its role and benefits can be crucial for beneficiaries. This article will demystify what a testamentary trust is, its purpose, and when it may benefit beneficiaries to consider establishing one. Significantly, just as there… Continue reading Starting a Testamentary Trust as a Deceased Estate Beneficiary: Is it a good idea?
So What is Payroll Tax Grouping? In the complex world of taxation, understanding nuances such as payroll tax grouping is paramount, especially for businesses in Perth. It’s about ensuring compliance and optimizing operations, financial planning, and preventing potentially significant liabilities. Here, we delve deeper into how Perth tax accountants can be your beacon in navigating… Continue reading Understanding Payroll Tax Grouping by RevenueWA
Buying a small to medium-sized business in Perth is a considerable undertaking that can propel your business toward new avenues of growth and diversification. But the process has its share of challenges and risks. The vital safeguard against these perils is the comprehensive practice of tax due diligence facilitated by your Perth tax accountant. This… Continue reading Understanding Tax Due Diligence: A Detailed Step Plan
Every business owner operating in Australia understands that preparing and lodging a Business Activity Statement (BAS) is a fundamental responsibility. This is true regardless of your business’s size, industry, and location, be it in bustling Perth or a quiet town in the outback. However, some may wonder why it’s so essential. If you’re a Perth-based… Continue reading 5 Reasons Why You Need to Prepare a BAS – A Perth Accountants Perspective
