LeDrew Business Solutions in Brisbane, Queensland, Australia | Financial service

LeDrew Business Solutions

Locality: Brisbane, Queensland, Australia

Phone: +61 413 042 587

Address: Graceville 4075 Brisbane, QLD, Australia

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

Likes: 42

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• Tax preparation service
• Consultation agency
• Accountant
• Financial service

24.01.2022 The recently released draft legislation removes the ability to deduct certain payments if PAYGW should have been withheld and notified to the ATO. The Tax Commissioner will deny the tax deduction. Make sure you get your PAYGW obligations right from 1 July 2019. This could potently affect, director salaries at the end of the year, plan ahead before you end up paying more tax! Something to be aware of.

22.01.2022 Claiming working from home expenses information sheet. https://iorder.com.au/publication/Download.aspx

22.01.2022 Sometimes you need a little help to play catch up....

17.01.2022 Key lodegment dates for July 2018 14 July - PAYG Payment Summaries to employees 21 July - Monthly Activity statements - Payroll Tax 28 July - Quarterly Activity statements... - PAYG instalments - GST instalments - Superannuation See more

17.01.2022 Avoid being scammed this tax time, things to watch out for.

17.01.2022 For business owners paying superannuation guarantee contributions for employees, and your business has less than 19 employees and earn less than $10 million in turnover, you have access to the small business superannuation clearing house that is administered by the ATO. If you still need to pay your last quarter superannuation by the 28th July 2018, you will need to submit to the clearing house several days before for it to process by the 28th. Need any further information, I will only be too happy to help.

17.01.2022 The Commissioner of Taxation has determined the cents per kilometer deduction rate is 68 cents per kilometer for the income year commencing 1 July 2018.

16.01.2022 Are you an office worker? Do you know what you can claim on your tax return this tax time? "Dont remind me!", I hear you say. I can give you the solution and help you out. Let me help you by offering this handy tax time information sheet you can download to help you prepare that tax return a little more painlessly. Need more Help? Feel free to send me a message and I will only be to happy to help.

15.01.2022 Tax Time Caution As tax time 2018 kicks off this weekend, the ATO has profiled what it says are the 5 most common tax mistakes that they will be focusing on, make sure you dont make the same mistakes. TOP 5 MISTAKES Leaving out some income - maybe forgetting a temp job or money earned from the sharing economy;... Claiming deductions for personal expenses - home to work travel, normal clothes or personal phone calls; Forgeyting to keep receipts or records for the expenses; Claiming for something they never paid for - often because there is an incorrect belief that everyone is entitled to a "standard deduction"; Claiming personal expenses for rental properties - either claiming deductions for times when they are using their property themselves or are claiming interest on loans used to buy personal assets like a car or boat. If you need some advice on what you can claim and what things you should be doing for tax compliance send me a DM and I will be more than happy to help.

15.01.2022 The start of all things internet and cloud makes it easier for the tax office to data match that your details are reflected in your tax return.

14.01.2022 It is the time of year where you start thinking about what deductions you have to claim on your tax. Remember you need to demonstrate the connection between the expense was necessarily incurred in earning your income as per (s)8.1 in the tax law. The Tax office has released a number of specific occupation guides to help you work out what you can claim. https://www.ato.gov.au//income-a/deductions-you-can-claim/

14.01.2022 Superannuation Deadline Approaching - submit and approve via your accounting software by 23 July.

14.01.2022 Professional development day

14.01.2022 Reminder for rental property owners: Check your travel expense claims before you lodge! Last years law changes will impact the deductions you can claim on t...ravel expenses incurred from 1 July 2017 this affects your 2017-18 and future tax returns. For more information, visit ato.gov.au/rentaltravel

14.01.2022 Tax Myth Contractor vs Employee Do you know what the difference is between an employee or a contractor? As a business owner you could still be liable to pay Superannuation and PAYG on the contractors payments. These rule were designed to capture contractors that are behaving as employees and to catch business owners trying to avoid paying their employment liabilities and obligations.

11.01.2022 Tax Time 2018, if you are looking for a tax agent to help with your tax return you have come to the right place.

11.01.2022 Capital Gains Tax can get tricky at the best of times. When trading the stock market remember to keep all documentation regarding your acquisition and your subsequent sales. Even if you hold onto the shares for more than 5 years, you still need the acquisition information to give your accountant when you go to sell in the future. Accountants sometimes need to be detectives as well when paperwork cannot be found. Have a look at keeping a simple asset register or look into online platforms like myprosperity.

10.01.2022 Need to lodge a TPAR? Not sure? Due for lodgement on the 28th August.

10.01.2022 Time to slay that overdue tax return?

10.01.2022 5 most common GST mistakes, according to the Australian Taxation Office. With some simple checking, you could avoid these errors. make sure the timing is correct, and report in the correct tax period, check the figures to avoid accidental miscalculations and simple transcription errors,... ensure you can substantiate your claims for GST credits check there is a creditable purpose, you can not claim GST for goods purchased for personal use, make sure you charge GST on sales when you need to, especially if your turnover is over the $75,000 threshold. Need help to get it right? LeDrew Business Solutions offer BAS agent services, you need help navigating and completing you quarterly BAS obligations give us a call.

09.01.2022 Over the next two days I am attending the biggest accounting software convention. Learning how to stream line and automate the accounting process for small businesses. Great opportunity to learn from the best thought leaders in the industry.

08.01.2022 With the recent press on the tax commissioner taking tax agents to task on claiming standard deductions, lets have a look at what you can claim for clothing and laundry for work related expenses. The static is that around 50% of Australian taxpayers claimed a standard deduction of $150 in their tax return for clothing and laundry. The tax office has announced they will be starting to take a closer look at this standard deduction and taxpayers and tax agents will need... to make sure they are following the rules. To be able to claim for the cost of buying and cleaning work clothing it must be: - occupational specific, and it isnt used everyday in nature and the public can easily identify your occupation, - protective clothing and footwear, - compulsory or non- compulsory uniforms. What cannot be claimed is conventional clothing, for instance a pair of black pants and white shirt, even if your employer requires you to wear that and you only wear it to work. For more information click on the below link to download the tax office clothing and laundry publication.

08.01.2022 For women in business needing a coaching program that covers financial strategy to marketing, I highly recommend Acceler8. I have grown not only my business but as a business women as well. I loved taking a course designed by another accountant it suited my personality and Tanya Titman is a fountain of knowledge.

08.01.2022 Interesting tax fact There is a four year limit on claiming GST credits, so if you are behind on lodging your BASs be aware of the time limitation.

08.01.2022 To be able to claim a deduction against your income, you need to ensure you can confirm these 3 points:- - the money was actually spent; - there is a strong nexus between that cost and earning your income; - you have records to support your claim.... The most difficult and complex part of this equation is the nexus to earning your income. There needs to be a connection and it needs to directly relate to what you do in earning your income. Not everything you spend even if it was used for your work during work hours. Make sure you know what can be legitimately claim this tax time. Need any help or have any questions I will only be too happy to help.

07.01.2022 Xero Expenses vs Classic expense claims, whats the difference and the cost? The below blog article may help the mystery of the New Xero Expense feature that costs an extra $5 per month to the classic expense claims that has always been available.

06.01.2022 A great resource for this time of year, a quick checklist for Small Businesses at Tax Time. Links to the ATO for further information on:- -Record Keeping evaluation tool -myDeductions, -Personal Services Income (PSI) - Entertainment expenses and Fringe Benefits considerations... -Tax Concessions Need any further information or clarification feel free to send me a message.

05.01.2022 A brief guide to making motor vehicle claims, the article is written by Tax and Super Australia aimed at agents, here are the key takeaways and quick reminders of the key points when it comes to claiming motor vehicle expenses for your business operations. Key Points: - the way you claim depends on your business structure - if your business structure changes, you entitlement and obligations may also change... - business and private usage must be apportioned, - logbook to evidence your usage calculation - records must be kept for five years. The common type of vehicle expenses includes: - fuel and oil - repairs and servicing - interest on loan - lease payments - insurance - registration - depreciation of the vehicle Records you need to keep - loan or lease documents - details on how you calculated the claim including the usage percentage and/or kilometers traveled - your claim calculations - tax invoices to prove the amount spent - registrations papers A reminder that vehicles have a cost limit for GST claims and depreciation purposes of $57,581 for the 2017-18 and 2018-19 years.

04.01.2022 Xero is releasing a new navigation menu system from the end of November. For more information see the below blog post. There are some useful shortcut keys mentioned, be sure to bookmark those! Its all about making life simpler.

04.01.2022 Is cash flow killing your small business? Youre not alone. 90% of small business failures are due to poor cash flow.Need strategies to improve your cash fl...ow fast? Here are seven different strategies you can deploy to immediately improve the amount of cash in your business. https://bit.ly/2wr3QZc See more

02.01.2022 The checklist will help your organisation hand over its tax affairs to a new administrator.

02.01.2022 Food Businesses found Non-Compliant in Fair Work Audits, the most common breaches related to: - underpayment of workers base hourly rates - inadequate or non-existent employment records - incorrect or no payslips - no provision of meal breaks... - incorrectly classified workers - non-payment of overtime Luckily there is a great solution, Workforce Guardian have a online platform that assist small businesses with their workplace compliance.

02.01.2022 Always be on the look out for scams.