ASN Financial in Richmond, Victoria | Tax preparation service

ASN Financial

Locality: Richmond, Victoria

Phone: +61 1300 839 385

Address: 81 Kent Street 3121 Richmond, VIC, Australia

Website: http://www.asnfinancial.com.au/

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• Business service
• Tax preparation service
• Accountant

24.01.2022 Don't think the taxman is not onto you :-). Get your late BAS lodgements and tax returns in to avoid penalties. And remember, late lodgements are a key trigger for Audits by the Tax Office, so we recommend that you stay on top of things. If you need any assistance catching up we're here to help.

21.01.2022 Thought of the Day "Patience is the companion of wisdom." - St Augustine

19.01.2022 Most of us feel a good meal and a properly made coffee is essential to get through the day. Apparently the Tax Man thinks so too. Don't forget to claim your deduction for meals and beverages purchased off-site but consumed on-site. There are limits so don't hesitate to ask us more.

15.01.2022 Save $3000 to $10,000 off your bookkeeping fees - without changing your Bookkeeper! SO EXACTLY HOW MUCH WILL MY BUSINESS SAVE? ASN Financial is an accounting firm saving clients the following amounts annually. Your business can do the same.... Bookkeeper works 1 day pwk save $3000 p.a. Bookkeeper works 2 days pwk save $5000 p.a. Bookkeeper works 3 days pwk save $7000 p.a. Bookkeeper works 4 days pwk save $9000 p.a. Bookkeeper works 5 days pwk save $10,000 p.a. Don’t waste thousands of dollars - every single year. The money can be better spent elsewhere in your business. We are an accountancy firm providing quality bookkeeping know how to clients in Melbourne. We can guarantee to shave $3000 to $10,000 off your company’s bookkeeping fees without changing your bookkeeper! Speak to us for a simple easy way to reduce costs with no disruption to your business. Our clients love it, and we can do the same for you. As an accounting firm we are all too aware that most companies pay excessive amounts for basic bookkeeping. Your money can be put to better use. Think of what you can do with an extra $3000 to $10,000 a year invested in another part of your business, or in your pocket! Our clients are saving thousands EVERY YEAR using their existing bookkeeper, or using ASN’s on-site bookkeepers who work at your office just like any other staff member. Either way your bookkeeper will be backed by a team of expert CPAs with access to knowledge and support at no cost to your business. Speak to ASN Financial today and save. It’s not every day you can cut cost without effort or disruption to your business. Call Sylvia today on 1300 83 93 85 for an obligation free consultation.

11.01.2022 Weekly Tax Tip Cash Flow for Rental Properties Many people work as employees and have PAYG deducted from their pay each time they are paid. If you are trying to buy a good rental property that seems a little out of reach then consider varying your PAYG withholding tax, which reduces the PAYG withholding tax you pay from your wages/salary as you go throughout the year and releases cash flow to help pay interest on your negatively geared property. Note, you will receive a low...er tax refund at year end, but it means that you can afford to buy a better rental property because you have better cash flow throughout the year. Be careful not to overestimate your deductions or underestimate your income associated with the property. This could lead to a tax shortfall and an obligation to pay tax at year end. So be conservative. If you would like to know more, call us to talk to one of our registered tax agents and CPAs obligation free and we can help you minimize your tax.

10.01.2022 TAX TIP - LOST SUPER ATO records show there is $18 Billion in lost super in Australia. If you are one of the many people that have moved jobs a number of times and possibly lost track of where some of your super is residing then simply go to www.ato.gov.au/superseeker to search for any lost and unclaimed super. It only takes a few minutes to find, but be sure to have your Tax File Number handy. Good luck with your search, we hope you get an happy surprise.

10.01.2022 Weekly Tax Tip Salary Sacrifice If you contribute additional amounts to your Super via a Salary Sacrifice arrangement with your employer you can potentially gain a tax benefit of between 5.5% and 34% tax. It doesn't just have to be Super you salary sacrifice. You can also salary sacrifice other expenses (within limits) and reduce your tax bill. ... Example of Salary Sacrifice Benefits Source: Australian Taxation Office for the Commonwealth of Australia In the 2014-2015 year, a person earning $67,000 p.a. who salary sacrifices $30,000 will save $6,295 on their tax. This is a huge saving, especially if it is done year after year. Also, keep in mind the extra earnings generated in your superannuation fund from the $30,000 you investment will be taxed at concessional rates also. If you would like to know more, call us to talk to one of our tax experts.

06.01.2022 OUCH! YOU MAY BE HIT WITH CAPITAL GAINS TAX WHEN CLAIMING HOME OFFICE EXPENSES. With a growing number of people leaving corporate life and starting home based businesses, the topic of home office expense claims is coming to the attention of the Tax Office, Small business owners should be careful not to pay the ultimate price for incorrectly calculating their home office expenses.... In particular, claiming the interest charges on your home mortgage will trigger capital gains tax which could be far too high a price to pay if your property is gaining in value. When calculating home office expenses the general rule that most small business owners use to claim expenses is to claim only running costs such as heating, cleaning, depreciation on office equipment and so on. They avoid claiming occupancy costs such as interest expense and rates to avoid capital gains tax on the sale of their residential home. But here’s the sting! What very few people are aware of is that there is still a chance that the Tax Office may actually compel you to pay capital gains tax on the sale of your residential home, despite the fact that you did not claim occupancy expenses such as interest when you lodged your annual tax returns. There are a number of ways to claim home office expenses such as the: 1) Cents Per Hour Method 2) Actual Running Cost Method 3) Floor Area Method. Depending on the method of calculation you choose you may, or may not, be exposed to capital gains tax on your residential home. If you would like to know more, speak to ASN Financial Tax Accountants Melbourne, for a free one hour consultation in relation to your specific circumstances and needs.

02.01.2022 If you are late with your BAS, speak to us today and we will: 1) Bring your accounts up to date 2) Negotiate with the Tax Office on your behalf 3) Lodge your late BAS returns without delay... Focus your mind on productive things that help your business, and leave the messy stuff to us. Call us today on 13 83 93 85 to get back on track.

02.01.2022 3 SIMPLE WAYS TO BOOST YOUR TAX REFUND Financial year end is fast approaching so it’s time to think about how to get more money from the taxman, or pay less tax to the taxman as the case may be. If you are an employee, then here are some simple tips to optimise your tax position. 1. Bring Forward Your Work Related Expenses... If you are thinking about upgrading that old computer, or buying a new briefcase, or even subscribing to a work related training course, then make sure you pay for it before 30 June 2015 to bring forward your tax deduction into the current financial year. Make sure your donations are made before year end, and prepay interest due on investment loans. If you have a rental property then consider paying for repairs before 30 June. But always remember, before doing any of this, make sure you have enough cash flow at your disposal so that you don’t get into any problems down the track. 2. Contribute to Superannuation Superannuation is not only a great low tax environment for your investments, but also a great way to maximise your tax deduction at year end. If you are running your own business or earn money through investments of various sorts, and you earn less than 10% of your earnings from salary and wage income then consider making some additional super contributions up to the amount of the contributions cap. If you are a salary and wage earner then consider salary sacrificing some of your wages/salary prior to year end, up to the amount of the contributions cap. For more information about how the contributions cap applies to you call ASN Financial. There are also a range of rebates such as the government co-contribution and the spouse co-contribution you may be able to take advantage of. 3. Delay Your Income Rollover your term deposits into a period post 30 Jun 2015. Hold off on selling assets or investments until after year end. If however you are likely to make a capital loss, then you may want to consider bringing the loss forward into the current financial year. For more information about what you can do to maximise your tax refund at year end, contact us today.

02.01.2022 SPECIAL OFFER - LIMITED TIME ONLY Lodge your late tax returns - from just $85. Don't pay too much for simple personal tax returns and maximise your tax refund. ASN also gives you your refund up front so there's no waiting.... If you have late personal tax returns to lodge we are experts at helping you organise your paperwork and getting you back on track fast. So please call Sylvia on 0407 819 320 or call our office on 1300 839 385 to take advantage of this limited time offer.