Platinum Cloud Accounting in Ultimo, New South Wales | Financial service

Platinum Cloud Accounting

Locality: Ultimo, New South Wales

Phone: +61 2 9267 8762

Address: Suite 1.02/309 Pitt St 2000 Ultimo, NSW, Australia

Website: http://www.cloudaccountant.net.au

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• Tax preparation service
• Accountant
• Financial service
• Business consultant

23.01.2022 Many business owners believe that the expenses relating to dinning with clients and employees are tax deductible. It is likely that you are celebrating with your clients and employees and that your business is treating the bill for these expenses in the form of gifts and Christmas parties. Unfortunately they are not deductible and more importantly they could actually cost you more by FBT.

23.01.2022 Retail sales soft despite RBA rate cut and budget stimulus Retail sales growth fell short of expectations in May, as households curbed spending at department stores, on clothing and eating out. We can expect the interest stays.

23.01.2022 ATO focus on work-related expenses The ATO has advised taxpayers that it will be focusing this year on unusually high work-related expenses claims across all industries and occupations. Technology enhancement and use of data is improving the ATOs ability to identify and investigate such claims, it has said. The ATO will also focus on claims that are already reimbursed by employers and private expenses such as travel from home to work.... The ATO has reminded taxpayers that in order to claim work-related expenses, the taxpayer must have spent the money, it must be related to their job and they must have a record to prove it.

22.01.2022 The new Federal Budget is the best budget for Australian small businesses as well as the passionate entrepreneurs who are planing to start their business. The major relevant and beneficial points to small business in this budget are: The tax rate for companies will be reduced by 1.5% (that is from 30 per cent to 28.5 per cent) from the 2015/16... A 5 per cent tax discount for individual taxpayers with business income from an unincorporated bushiness The threshold below which small businesses can claim an immediate deduction for the cost of assets will be temporarily increased from $1000 to $20,000. Start-ups will be able to claim an immediate deduction for professional expenses associated with starting a business from the 2015/16 income year. Normally this expense will need to be spilt to claim in 5 years. Capital gains tax (CGT) relief will be available to small businesses for a CGT liability arising from the alteration of their legal structure from the 2016/17 income year. If you are thinking of establishing a business and to become a freelancer, it is a good time to give a try.

21.01.2022 Visiting Adelaide restaurants, cafes and takeaways ATO continues their focus on higher risk cash economy industries. From 24 March ATO will visit or phone around 400 restaurants, cafes, takeaways and mobile food vendors in the Adelaide CBD. They will talk to businesses about their registration, record keeping, super obligations and lodgment history.... When will they come to Sydney again?

21.01.2022 ATO guidance on offshore marketing hubs [from CPA] The ATO has advised that it is developing a practical guide to help taxpayers self-assess their transfer pricing activity in relation to related party offshore marketing hubs. The guide will help taxpayers assess their compliance risk associated with such arrangements, providing practical information including framing questions and quantitative indicators. The ATO is also reviewing various hub arrangements, considering commer...cial and economic context of the arrangement, and the object and effect of the hub from a practical and business point of view. The ATO has advised taxpayers to review their arrangements involving offshore marketing hubs and assess their compliance with transfer pricing rules.

14.01.2022 ATO Small Business Webinars ATO are offering free webinar for whom are starting a business or thinking about starting a new business and wanting to update your knowledge. You can review the webinar topics and follow the links below to book the sessions most relevant to you. http://ow.ly/LvYpA

11.01.2022 ATO focus on rental property deductions The ATO has announced that it is increasing its focus on rental property deductions and is encouraging all rental owners to double-check their claims before lodging their tax return. The ATO is paying particular attention to excessive deductions claimed for rental properties, especially those located in popular holiday destinations around Australia.

11.01.2022 Government is proposing increase GST to 15%, It almost means everything is going to be 5% dearer. will that happen?

03.01.2022 The new quarter BAS is coming