Phil Shephard | Accountant

Phil Shephard

Phone: 1300518085

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• Business service
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• Entrepreneur

24.01.2022 Want to use Superannuation as a tax saving tool? This is (generally) how the process works! https://www.panicatax.com.au/personal-superannuation-contr/

24.01.2022 Feel like it's time for a new car? How about we make the purchase a great tax planning tool for the current financial year? http://www.panicatax.com.au/new-motor-vehicle-tax-planning/

23.01.2022 We are seeing more and more of this everyday. You must review your employees pay rates and entitlements. You need to pay their superannuation on time, in full. Its not ok to just assume your accountant/bookkeeper/software package has it handled. We can certainly help but the ultimate responsibility sits with the business owner. You know your team, what they do and how many hours they do it for better than anyone. Get on the front foot and avoid being the next employer targeted.

23.01.2022 Feeling like this? Then we should have a chat about living Profit First!

23.01.2022 SCAM WARNING With tax time over, be on high alert for phone calls demanding the payment of fake tax debts. Stay vigilant and warn your friends and family so... they dont get tricked. Be suspicious if someone contacts you demanding payment. Remember, we would never: Request the payment of a tax debt via prepaid gift cards (eg iTunes or Google Play) Ask for direct credit to be paid into a personal bank account or via an ATM Demand immediate payment, use aggressive behaviour, or threaten you with arrest or deportation. These are typical scammer tactics! If youre unsure about a call you receive, hang up immediately. Phone our scam hotline on 1800008540 to check if the call was legitimate or report the scam. Find more info at www.ato.gov.au///identity-security/verify-or-report-a-scam

22.01.2022 Just another reason why we never recommend employsure to our clients. https://www.accc.gov.au//employsure-in-court-over-misleadi

21.01.2022 If you or your team are working from home make sure that a working from home diary is being maintained. Just a simple record of how many hours worked from your home each day (and perhaps start and finish times). Its the easiest way to support your deductions should you ever need to prove the number of hours. The ATO have just increase the flat rate working from home deduction from $0.52 to $0.80 for the next 3 months so track your hours and send us the data at year end :)

21.01.2022 Its time bridge the cash flow gap in Australia | Xero Blog https://www.xero.com/blog/2017/03/time-bridge-cash-flow-gap/

21.01.2022 This will be interesting!

21.01.2022 Creative business name!

21.01.2022 Selling or purchasing digital currency such as bitcoin? Changes now mean GST no longer applies! If you use digital currency to purchase goods and services it is the same as using money and standard GST rules apply. Learn more at ato.gov.au/GSTdigitalcurrency

20.01.2022 It's time to do your tax return! Kitty Flanagan has a few creative ideas for the Australian Taxation Office

20.01.2022 Feeling like this? Then we should have a chat about living 'Profit First'!

20.01.2022 Tax Planning Tip #3 went live today. Do you have employees? Are you an employee of your business? This could be an easy win for you this tax season... http://www.panicatax.com.au/pay-employee-superannuation-ea/

19.01.2022 Jumping on the Cryptocurrency bandwagon? Make sure you understand the tax implications. https://www.panicatax.com.au/cryptocurrency-bitcoin-ato/

18.01.2022 Using contractors that are really employees? https://www.accountantsdaily.com.au//12473-queensland-busi

17.01.2022 Want to know how you can start the 2018 tax year on a high? Thank you Amanda Hoffmann for the invitation to contribute to your blog series. Love the concept - Collaboration not competition!... http://bit.ly/2tmEBqO

16.01.2022 Unmet expectations..not just a marriage killer but will destroy the strongest business relationships too. Interesting read.

15.01.2022 Are your business records in good order?

14.01.2022 Whether youre just starting out in business or been running for years, its important to organise your finances to help protect your #nestegg. There is a fe...w things you can add to your basket to help organise your finances: a business bank account a book keeping system preparing a budget payment types and invoicing templates managing your cash flow. Check out our helpful tools and resources: http://bit.ly/2o5rXd2

14.01.2022 Don't fall backwards...fall forward!

14.01.2022 Looking for another reason not to vote ALP? How about a massive increase to the tax paid on small business profits when they are distributed from your family trust to your family members? https://www.accountantsdaily.com.au//12556-trusts-tax-refo

13.01.2022 Not sure what to do regarding employee wages during Cyclone Debbie? This link will help. An important note for South East QLD employers - if your employees had to take today (and part of yesterday) off because of the school closures they are entitled to use their leave for those hours. http://www.fairwork.gov.au//employment-conditions-during-n

13.01.2022 Something for the car fans out there...no more luxury car tax?

11.01.2022 Its time for your Accountant to Shine! April to June is tax planning time at Panic Atax. What does that mean for you as a business owner? As the end of the financial year approaches its important that you work closely with your accountant and put in place strategies to reduce the amount of tax you will pay on this years income. Need Help? Panic Atax is launching our 12 Weeks Of Tax Planning Campaign. Each week we will share tax planning tips and tricks to help business owne...rs get ready for tax time. The information will be published on our website as well as Facebook and Instagram. Dont want to miss any of the tips? You can register to receive all the information by email here: http://www.panicatax.com.au/12-weeks-tax-planning/

11.01.2022 The first of our Tax Planning Tips for 2017 went live today...more to follow soon! http://www.panicatax.com.au/donations-tax-planning-tip-1/

10.01.2022 Its time to do your tax return! Kitty Flanagan has a few creative ideas for the Australian Taxation Office

08.01.2022 Dont fall backwards...fall forward!

08.01.2022 Its a myth that sick days need to be taken as a full day. There is no minimum or maximum amount of paid sick or carers leave that can be taken at a time. Say ...youve worked half a day and then started to feel dodgy and have gone home sick. You should be paid for the half day you worked, not be forced to take the full day as sick leave. Employees can take as much paid sick or carers leave as they have accumulated. But remember your boss can ask for evidence (like a stat dec or a medical certificate) for why youve been away from work even if its just for one day. More info on paid sick leave https://www.fairwork.gov.au//si/paid-sick-and-carers-leave

07.01.2022 Ever considered teaming up with another small business and going to market with a creative new service offering? Get out there and try it! http://www.panicatax.com.au/joint-venture/... #metallica #jameshetfield #ladygaga #larsulrich #kirkhammet #robtrujillo #panicatax #business #jointventure

07.01.2022 It's time bridge the cash flow gap in Australia | Xero Blog https://www.xero.com/blog/2017/03/time-bridge-cash-flow-gap/

06.01.2022 Were shining a light on businesses that cheat the system through illegal phoenix activity. Could you spot a dodgy operator?

05.01.2022 Language warning if you have your sound on ;) Do you always get multiple quotes from tradesmen and choose the cheapest price?...this is why we recommend you focus on making an informed choice and using the BEST tradesmen, not the cheapest!

05.01.2022 Feel like its time for a new car? How about we make the purchase a great tax planning tool for the current financial year? http://www.panicatax.com.au/new-motor-vehicle-tax-planning/

04.01.2022 Is your business having cashflow problems? Do you have a TAX/GST bill that you cant afford to pay? Are you working 60 hours a week and taking a smaller salary each week than 16 year old working part time at McDonalds?... Are you never really sure if there will be enough money in the bank to pay your suppliers and make next weeks payroll? The Profit First system can help you fix all of that. Read our review of the book and the benefits weve seen the system deliver to Australian business owners. http://www.panicatax.com.au/profit-first/

03.01.2022 Looking for a more relaxed, friendly & interactive relationship with your Accountant? We would love to hear from you!

02.01.2022 Is your business having cashflow problems? Do you have a TAX/GST bill that you can't afford to pay? Are you working 60 hours a week and taking a smaller salary each week than 16 year old working part time at McDonalds?... Are you never really sure if there will be enough money in the bank to pay your suppliers and make next week's payroll? The Profit First system can help you fix all of that. Read our review of the book and the benefits we've seen the system deliver to Australian business owners. http://www.panicatax.com.au/profit-first/

02.01.2022 Its great to see something finally being done about misleading and corrupt banking practices.

01.01.2022 Looking at buying an investment property? 2017 has seen a couple of key changes to the tax deductions available for property investors. http://www.panicatax.com.au/rental-property-deduction-chan/

01.01.2022 We see this a lot in practice. Just because a loan is secured against an investment property doesnt automatically make the interest deductible. You need to look at what the money was used for.

01.01.2022 'Working' lunch!