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Source Accounting Australia

Phone: +61 7 3394 4600

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25.01.2022 Its tax time again! Lodging your 2017 income tax return has never been easier or more affordable than with one of our I Return tax service packages. With Source Accounting, you can rest assured that you only pay the tax you should. We can maximise your tax refund, keep your personal tax obligations up-to-date, and help you to avoid potential ATO tax issues. Choose from five value-packed tax service packages to keep your tax returns and obligations on track - and on time.... TO FIND OUT MORE, CLICK ON THE FOLLOWING LINK TO OUR WEBSITE: http://sourceaccounting.com.au/fees/tax-time/

25.01.2022 The truths behind low cost SMSF providers revealed! Are Trustees really getting the right advice, or is there a hidden cash grab going on behind the scenes that they are not aware of? #smsf #super #source

25.01.2022 PWC’s Federal Budget Insights Breakfast

23.01.2022 Beware of the Property Spruiker! Have you received a cold call from a pushy sales person trying to convince you to set up an SMSF to buy property? They may offer you a one stop shop, tell you that they can take care of "everything" and even tell you they can also recommend the right property for you. This is a great article on why you should tread with caution if you receive this type of call. #super #smsf #property

23.01.2022 Thinking of buying a property with your Super? You should refer to ASIC's website before proceeding. In particular heed their warning that you should beware if your Adviser assists you with the entire package, including recommending a Mortgage Broker and making direct property recommendations. This could result in you getting the wrong advice and paying extremely high fees. Talk to us to get an independent opinion first. #super #property #smsf #asic #accountant #brisbane #chartered

23.01.2022 A big thank you to Mike Harvey for dropping a copy of his latest book into the office and for his kind words. Feel free to contact us if you would like to learn more about property investing. #property #smsf #accountant

22.01.2022 Buying a Property with My SMSF Current ATO data shows that there has been a sharp increase in the number of Self-Managed Super Fuds being set up to purchase property using borrowings. This is an increasingly popular strategy amongst younger Australians who do not own a property at all. Apart from your principle residence, your Superannuation savings will probably be your biggest asset when you retire. Here we explore how you can purchase a property using your Superannuation money and the things that you need to consider before entering into such an arrangement. Read more about buying a property with my SMSF: http://sourceaccounting.com.au/buying-property-smsf/

22.01.2022 Should I have a Corporate Trustee? This fantastic article outlines the reasons why you should. For further assistance, phone us now on 07 3394 4600. #super #smsf #charteredaccountant #brisbane #selfmanagedsuperfunds

22.01.2022 Small Business Income and Deductions When you are running a small business, it is important that you understand your business income and deductions. Income is basically any money that you earn from providing a service or selling goods. It also includes any interest you generate from bank deposits. Expenses include any amount you incur in running your business. ... There must be a direct connection between earning income from your business activities and the expense for it - to be tax-deductible. Typical tax-deductible expenses include: 1. Operating expenses expenses incurred in the everyday running of the business such as rent, electricity, telephone costs, office stationery, wages and insurance, advertising and bank fees. 2. Equipment purchases are fully deductible, if they cost less than $20,000. 3. Capital costs typically include any equipment purchased costing more than $20,000. They can be deducted over a period of time, and not fully claimed in the year of purchase. 4. Prepaid expenses where the expense costs less than $1,000, such as interest and insurance. We would be happy to help you with any small business related queries. If you are not sure whether an expense is deductible we recommend that you keep a separate list of these items. They can be reviewed with your accountant at tax time. http://sourceaccounting.com.au/contact/

21.01.2022 Its hard enough keeping track of your day-to-day expenses, let alone your super! Were here to help. Check out our super tools at https://www.ato.gov.au//growing-yo/super-from-my-employer/

18.01.2022 The ATO surveys Trustees in relation to the use of LRBA's. if you have an LRBA inside your SMSF, you may get a call from the ATO to participate in this survey. #smsf #super #source

17.01.2022 A little something from our fan club just arrived to brighten the day! The best part of this job is the people we help. We love making a difference. Thank you to this amazing client who appreciates everything we do. #clientappreciation #sourceaccounting #smsfaccountant #brisbane #caanz #taxagent #greenslopes

16.01.2022 #clientfeedback Hi Voulla, Just a quick mail to say thank you for meeting with me yesterday in regards *****s tax. I was a little nervous, but you made me feel like I was your only client, and I did appreciate that. Thanks again, K... We do pride ourselves on treating each client with the upmost respect and attention. If you are looking for an Accountant with a difference, look us up. #charteredaccountant #SMSF #specialist #accountant #greenslopes

14.01.2022 Exciting things are happening at Source Accounting! We have started working on the front awning of our building and yes we are still open for business. Come on in for a coffee and a chat and check out the progress! #super #accountant #greenslopes #smsf

13.01.2022 Managing and maintaining strong cash flow is vital for any growing small business. Even when your profits are increasing, your business can experience cash flow problems if your finance and business operations arent running smoothly and efficiently. In our current article, we take a look at 12 strategies to improve cash flow and minimise bad debt in your small business - from speeding up customer payments to stretching out payables without upsetting your suppliers. TO FIND OUT MORE ABOUT IMPROVING YOUR CASH FLOW, CLICK ON THE FOLLOWING LINK AND READ ON: http://sourceaccounting.com.au/increase-business-cash-flow/

13.01.2022 This is why I love my job - Email just in from a new Client: Thank you Voulla for your time today and I have spoken with my accountant who is happy for me to open the SMSF with yourself. ... I have found the previous owner of our block in Scarborough and we are starting the deed of amendment so thank you again as you just saved me $40K in GST. Thanks, ***Name Removed*** If we can make a difference or add value we will. Dont be afraid to ask questions. Call us now on 3394 4600 to book your free consultation.

12.01.2022 Have you heard about the changes happening to Australias superannuation system? Check to see if youre affected or how the changes might help you save for retirement. Watch our video and find details at https://ato.gov.au/superchanges

12.01.2022 PWCs Federal Budget Insights Breakfast

12.01.2022 Home Based Business what can I claim? If you are running a home based business, you should really check the types of expenses for which you are entitled to a deduction, and make sure you keep the right records for them. The most common expenses are occupancy expenses and running costs. Occupancy expenses include mortgage interest or rent, council rates, land taxes and house insurance premiums. Running costs typically include electricity, gas, business phone and internet c...osts, repairs, cleaning and the cost of setting up your home office. There are a few options for working out your claim including a per hour method for heating, cooling and lighting costs using the ATO fixed rate of 45 cents per hour. There is also an area method to calculate your home business space deduction. You can work out the space used by dividing the area used for your business by the total area of your home. The type of business structure you are running affects how you pay your taxes and what deductions you can claim. We can assist you in working out your deductions, and give you tips for managing your record keeping. http://sourceaccounting.com.au

11.01.2022 It's tax time again! Lodging your 2017 income tax return has never been easier or more affordable than with one of our I Return tax service packages. With Source Accounting, you can rest assured that you only pay the tax you should. We can maximise your tax refund, keep your personal tax obligations up-to-date, and help you to avoid potential ATO tax issues. Choose from five value-packed tax service packages to keep your tax returns and obligations on track - and on time.... TO FIND OUT MORE, CLICK ON THE FOLLOWING LINK TO OUR WEBSITE: http://sourceaccounting.com.au/fees/tax-time/

11.01.2022 The ATO surveys Trustees in relation to the use of LRBAs. if you have an LRBA inside your SMSF, you may get a call from the ATO to participate in this survey. #smsf #super #source

09.01.2022 If you thought MYOB was the ultimate in book keeping and accounting software, then you might be surprised to know that there is another competitor that is an overall excellent alternative - Xero. Xero has over 1 million subscribers around the world, including 16,000 accounting firms. Xero software features inventory and contact management options, payroll and automated time-savers. It suits all business types, and supports unlimited users with advanced user permissions. Simpl...ify, streamline, connect, integrate, protect and manage your accounts with Xero. Want to know more? READ MORE IN OUR LATEST BLOG HERE: http://sourceaccounting.com.au/se/xero-accounting-software/

09.01.2022 New to owning a rental property? Exciting times! Its important to get your tax right from the start, and were here to help. Check out our series of easy-to-fo...llow videos to better understand the tax implications of buying, owning and selling a rental property. Watch the introduction below and view more at https://www.ato.gov.au//Rent/Rental-Property-video-series/ See more

09.01.2022 Thinking of buying a property with your Super? You should refer to ASICs website before proceeding. In particular heed their warning that you should beware if your Adviser assists you with the entire package, including recommending a Mortgage Broker and making direct property recommendations. This could result in you getting the wrong advice and paying extremely high fees. Talk to us to get an independent opinion first. #super #property #smsf #asic #accountant #brisbane #chartered

08.01.2022 QuickBooks Self-Employed. Every 1,000 KMs = $660 in deductions. Automatically track KMs

08.01.2022 Its hard enough keeping track of your day-to-day expenses, let alone your super! We're here to help. Check out our super tools at https://www.ato.gov.au//growing-yo/super-from-my-employer/

07.01.2022 EMAIL SCAM ALERT! If you receive an email asking you to download your next activity statement, do not click on the links. Delete the email.

07.01.2022 Do I need a Financial Planner? What a Financial Planner does and when it is time to see one. At some point, every individual realises it is time to see a financial planner. The timing of financial advice really depends on your age and life stage. A financial planner can assist you with taking out the right type of insurance cover that meets your needs. If you have recently married or your first child has come along, you may need advice in relation to life insurance. Anothe...r crucial time is when you have paid off your mortgage and are considering investing in other things now that you have some free cash. A financial planner can give you guidance in relation to the types of investments available on the market. Alternatively, you may wish to plan for your retirement, review your superannuation or give some money to your children. It is important that you develop a relationship with a financial planner that you can trust - to assist you in meeting your financial needs. These days, accountants are also required to hold an Australian financial services (AFS) licence to provide you with advice, especially in relation to SMSFs. Here at Source Accounting, we can assist you with your superannuation advice needs, and put you in touch with reputable financial planners. http://sourceaccounting.com.au

06.01.2022 Guide to Small Business Structuring and Tax Setting up a Small business can be an exciting and rewarding time in your life. It is important that you cover all bases in terms of the paperwork side of things. One of the foremost and important decisions you will make will be in choosing the structure that is right for you. In Australia, there are four types of structures that you can use to run your business. We explore these structures here and give you some guidance on how tax will work in each scenario. READ MORE IN OUR LATEST BLOG HERE: http://sourceaccounting.com.au/guide-to-small-business/

05.01.2022 #SMSF trustees: If you have diverted PSI to your SMSF to reduce tax, we suggest that you contact the ATO early to avoid penalties. #smsf #super #psi https://www.ato.gov.au//Diverting-personal-services-incom/

04.01.2022 Trustee Alert: SMSF Trustee fined $40,000! #super #smsf #trustees #source

03.01.2022 What a fantastic idea!

02.01.2022 We do not expect our online services to be restored by tomorrow, Sunday 5 February. While we are working as quickly as we can, we cannot make services available... to the community until the integrity of the system is confirmed. Once our services have been restored, our next priority will be to stabilise our systems before we replace critical hardware to improve our future capacity. We recognise the ongoing impact this is having on our stakeholders and the broader community, and thank you for your ongoing patience. Well continue to post updates here on Facebook and over at http://lets-talk.ato.gov.au/ato-systems-update as our systems become available.

02.01.2022 We are at the RBS Morgans Super Reform Seminar. Are you super ready? #smsf #charteredaccountant #brisbane #superreforms #selfmanagedsuper

01.01.2022 Celebration time. Did you know that at Source Accounting we have 3 awesome Staff that share the same birthday! What are the chances? Lucky 13/03! Happy birthday to Jenny, Sarah and Zelka.

01.01.2022 Just started an apprenticeship or new job? If youre over 18 and earning $450 or more per month, your employer must pay you super. Check out our super tool to make sure you get what youre entitled to! Go to https://ato.gov.au/superfromyouremployer