Success Tax Professionals Nundah in Nundah, Queensland | Accountant

Success Tax Professionals Nundah

Locality: Nundah, Queensland

Phone: +61 458 774 523

Address: Shop 2 1180 SANDGATE RD 4012 Nundah, QLD, Australia

Website: https://accountantsbrisbanenorth.com.au

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• Business consultant

25.01.2022 Zoom is the new norm at our office these days!! A glimpse of Friday afternoon in 30sec Very rewarding day providing tax and cashflow planning to clients. We look forward to doing many more over the next few months assisting our clients.

25.01.2022 Great to restart our serving of Fresh meals to the needy elderlies. 40 meals served over the past 2 weeks.

24.01.2022 Commenced on Feb 2020, our free meal services to those in need have served over 600 freshly cooked home meals by Dec 2020. We are thankful to be part of this continuing incredible initiative and are immensely grateful to all the volunteers and Heart of Love Foundation (Australia) not for profit charity.

24.01.2022 Thanks to all our clients, family and friends for the support in achieving this two times in a row. "Growth and performance" are what we aim to inculcate into our clients businesses too.

24.01.2022 Weekly distribution of poppers, sandwiches and fruits to Brisbane city homeless. Approx 90 people were served across four different areas in collaboration with coffee brigade today morning. Want to join us or know anyone who could be interested in helping in any capacity? Then please let us know!

24.01.2022 6 top car-related deduction mistakes to watch out for: 1) Claiming your normal travel to and from work: This isnt claimable, even if you do a small work-related task like picking up the mail. Even if theres no public transport available when you head home after working overtime, its not claimable either. 2) Claiming for carrying equipment where it is not required by your employer: If you cant prove this is required by your employer or theres no safe place to store your e...quipment at work, then its not claimable. 3) Claiming expenses associated with a company car or car purchased on a novated lease: Be careful not to double dip on car expenses you cant claim expenses that have already been paid for by your employer, including salary sacrificing arrangements. 4) Claiming expenses without records to back them up: One of the most common mistakes car owners make is claiming car costs using the ATOs cents-per-kilometre method, without the records to back them up. You can claim up to 5,000km a year at 68c per kilometre in 2020 tax year, but this is not a free pass you must be able to provide documentation. 5) Forgetting to claim depreciation: Many car owners forget to include depreciation when theyre adding up their annual car expenses at tax time. If you use your car for work or rent it out, ask your accountant about how you should calculate depreciation as it may add thousands to your allowable deductions. 6) Not claiming all allowable expenses, if you rent your car out: Any money you earn from renting out your car is considered taxable income and must be declared on your tax return, but you can also claim expenses for the portion of your car costs that relate to the rental activity, or a simple 68 cents for every kilometre your car is driven by borrowers.

24.01.2022 Do you feel like you need to wear all the hats in your business? Is it because you want to be in control or something else? As your business grows you will benefit greatly from working with an accountant who supports you and guides you, not only with regard to your taxes and accounts but holistically on your business. It really is okay to ask for help!

23.01.2022 Every investment you make has its related potential deductions. Rental properties included. A tax consultant is not only able to identify these for you but also advise on the average deductions and tax savings these could provide. We recently helped one of our clients find an extra $4,790 in deductions to help themselves to a cool $2,000 in extra tax refunds. As a bonus, we can amend the previous two financial years tax returns resulting in additional deductions of more than $5,000 for each of those tax returns. Instead of being in a tax payable position, our client will be in a refund position getting back at least $1,500 into their pocket for each of those financial years! Our services are value-added and this is one of the examples of how we seek to provide the best outcome for our clients.

23.01.2022 We do more than accounts. We work closely with our clients with the aim of really making a difference in their business. Whether you are a one-man-band or an employer of 50 people, we can help you grow your business. ASK US HOW

22.01.2022 If you had the opportunity to be a part of a FREE PEDIATRIC CARDIAC HOSPITAL for all the children of Asia Pacific region, what would you do? Having a child with good health is what every parent prays for. 2,500 children are born with congenital heart disease in the region.... A condition that cannot be treated in many of these Pacific Islands. A condition that sees many families looking for help in the neighbouring countries, NEW ZEALAND and AUSTRALIA. For the first time, a FREE pediatric hospital is currently under construction planned for inauguration this April 2020. We are inviting you to attend an information session to be held in Brisbane this Sunday (19th Jan) starting from 6pm with refreshments provided. Come and find out how you can be involved. Bring your friends and family along! Please RSVP for location. https://www.youtube.com/watch

21.01.2022 Under these rules, if businesses purchased assets from 12 May 2015 and first used or installed them ready for use, the below table explains how much you can instantly deduct. The threshold reverts to $1,000 from 1 July 2020. Important to note for businesses intending to purchase assets this financial year.

20.01.2022 If you're buying, selling, renting out, investing, renovating, or developing property or land, you need to consider your tax obligations. If you want to speak to an expert, speak to Success Tax Professional in Nundah!

20.01.2022 JobKeeper Key Dates 31 May 2020 is the final date you can enrol for JobKeeper if you intend to claim for wages paid for JobKeeper fortnights in April and May. Each month you will need to make a monthly business declaration to re-confirm your business and employee eligibility and provide your business's current and projected GST turnover. Don't miss out on these crucial dates.

20.01.2022 Depending on which point you are at in your business will determine the guidance you need from your accountant. So, where are you in your business journey and are you getting the support you need to get to the next stage?

19.01.2022 Accounting professional bodies has come together to support communities devastated by the fires. CA ANZ has partnered with Rural Aid and members will support drought and fire-affected businesses with monetary donations or by donating their time and skills. Resources have been made available such as checklist on practical issues for businesses impacted as well as mental health first-aid guide to assist Accountants to engage in conversations with their clients.

18.01.2022 During hard times, we have to respond being at our optimum best

16.01.2022 Social lock down has fueled the entrepreneurial spirits of many Australians. Four in ten respondents to GoDaddys recent survey revealing they have started or are growing a business or hobby online with members of their family. 87 per cent said it has strengthened their family relationship and an incredible 93 per cent said their new venture will continue well beyond the lock down.... While for many it was the boredom and the extra time they had as their motivation, 38% stated they identified opportunities to make more money. Three-quarters of all businesses started online belonged primarily to Millennials and Gen Z. Success Tax Professional Nundah has seen a renewed vigor and entrepreneurial spirit within their business clients, with many considering expanding their ventures.They believe things will turn out to be for the better in future with calculated steps taken right now.

16.01.2022 Are you a tradie looking for an accountant that really understands you and your business? At STP Nundah we make it our business to know your business! working alongside you to help you build your business into the empire that you want is what excites us! Do you want to grow your business? Yes? Then get in touch and we can help you do that!

16.01.2022 14 hours of intense training on the weekend covering 64 different business structures!! Followed by a feast at Langham Hotels Melba Restaurant in Melbourne with fellow Accountants

15.01.2022 When does the medicare levy surcharge impact you? If you do not have private health insurance, the table below will help you identify which category and the tier you fall under and the surcharge percentage on your taxable income that will be taxed. If you have two or more dependent children, the family income threshold is increased by $1,500 for each dependent child after the first child.... For Medicare levy surcharge (MLS) purposes, you are considered to be a member of a family if, during any period of the year, you had a spouse or a child who was an Australian resident, regardless of their income. Your spouse includes another person (of any sex) who: you are legally married to although not legally married to, lived with you on a genuine domestic basis in a relationship as a couple you were in a relationship with that was registered under a prescribed state or territory law. An ex-spouse you pay maintenance or child support to is not your dependent. Your child is only your dependent if they are: under 21 years old 21 to 24 years old and studying full-time at school, college or university. Your child is still your dependent if you are paying child support even if they don't live with you. An incorrect choice made on the tax return could potentially cost you thousands of dollars in extra tax. Important to be aware of the different tiers and criteria for children and spouse

15.01.2022 For more information about who we are and what we do, please visit the website

15.01.2022 Government announces tax benefits in response to the Coronavirus. Please read the summary attached for the key tax measures. Timelines and implementation strategies are important to utilise these for the current financial year and onwards. Contact us for further information.

14.01.2022 Here is what we got up to this week, which is really how our standard weeks are looking like these days! 1) Helped a family by providing them with a clear timeline of factors to consider to avoid any potential Capital Gains Tax consequence in future if they sell one of their properties. Imagine the tax savings on this one! 2) Provided a detailed advice for a client including different tax scenarios of purchasing investments through different entity types. A $40k savings on t...his one! 3) Identified extra deductions for two different clients where they can go back and amend last two years of tax returns enabling them to pocket a few thousand dollars extra in tax refunds. One of them is a property investor. 4) Provided tax strategies for two clients facing prospects of earning significant salary increase from their employers this financial year. 5) A business owner who thought he won't be eligible to continue receiving JK 2.0 is now elated when we told him he actually can after we tested his eligibility using the alternative tests. 6) Identified clients who had no income protection who have now been convinced the importance of getting one. 7) A client who lost his job due to Covid-19 effects has been connected with another client who was looking for a new employee. 8 ) Lastly, not exactly tax or accounting related, our team provided freshly cooked meals to 25 families in need. Being Accountants though, we do know the numbers on how much these families are able to save each week on food We are madly passionate about making a difference (big or small) for our clients and community because we simply love what we do! We thank you all with gratitude for providing us with this opportunity :)

14.01.2022 This time of year will always cause some real financial stress and cash flow issues for both businesses and households. The COVID economic relief is reduced or stopped for many and has added pressure to an already stressful situation. Review your own situation and try to get ahead of it, we are here to help in any way we can.

14.01.2022 Being proactively interested to help clients, the right questions are asked. When the right questions are asked, like we did for a particular client, the result that has been achieved is that of a potential tax savings of $6,000 over the next five years! Not bad, considering that we are yet to start a Tax Plan for them this financial year!

14.01.2022 JobKeeper payments which was due to end by 27th September 2020, has now been extended to 28th March 2021. Demonstrate ongoing significant decline in turnover instead of the projected turnover (currently in use). Reassess eligibility for June, September and December 2020 quarters.... Government has also extended the application period for early release of Super of up to $10,000 to 31 December 2020. Contact us for detailed advice, including eligibility for those receiving parental leave pay, under 18 years old employees, apprentice, etc.

13.01.2022 For Queenslanders there are two loans, each up to $250,000,available to support businesses during this crisis: 1) Small-to-medium enterprise (SME) business loan guarantee scheme by the Federal Government The government will provide a guarantee of 50% to eligible lenders of unsecured loans to be used for working capital.... Maximum loan facility of $250,000 per borrower. Term of up to three years, with initial six-month repayment holiday. For businesses with turnover up to $50 million (interestingly, not specified as group-wide turnover). Subject to lenders credit assessment processes, with the expectation of looking through this short-term difficult period. Need to apply through your bank. 2) Queensland COVID-19 Jobs Support Loans by the State Government 12 months interest free 2.5% from the remaining term of the loan interest only for years 2 and 3, total term 10 years, with principal payments from year 4. Loan of up to $100k dont require security but those over $100k require a floating charge over the business assets. Loan is provided at 50% of average wage costs for the prior two years, therefore, average wages for previous two years must at least be $500k to get the full $250k. Need to apply via an online application: http://www.qrida.qld.gov.au//queensland-covid19-jobs-suppo Each state might have its own loan support apart from the Federal one.

13.01.2022 At every step of your business journey...

11.01.2022 We have a Business Continuity Plan (BCP) document prepared for all our business clients, a comprehensive but simple and effective action plans for immediate implementation to assist their businesses to stay alive during this time and protect their assets. Plus importantly, to be prepared to take advantage of increased consumer demand once this crisis is over. Our BCP addresses 7 key areas: 1. Cash Flow... 2. Protection of your Assets including personal assets like your family home. 3. Banks and Funding 4. Management Team planning 5. Your Employees 6. Customers & Suppliers 7. Mental Health Support We are here to help.

10.01.2022 Starting off or growing your business too fast without a solid foundation? In 2019 alone there were number of businesses, especially retailers, that have gone into voluntary administration or bankruptcy. While few others have come out with issues of staff underpayments. Difference between success and failure is often marginal. Every business is started with optimism and hope. ... Specific activities can be undertaken to improve the chances of success. First and foremost is laying a strong platform or foundation as indicated in the diagram. This is what you lean to in times of uncertainty as well as when you want to grab opportunities to expand. Don't compromise on these services.

09.01.2022 7am sunday morning with the team distributing free food to homeless friends

09.01.2022 Supporting our clients and partners Heart of Love Foundation and Health in Kind delivering free health care!

08.01.2022 Cyber Security certified - to protect us and our clients

08.01.2022 I have a client who is looking to get some barcodes printed and I would be interested to hear your experiences and recommendations please... Thank you

08.01.2022 An accountant is a professional who is responsible for keeping and interpreting financial records. Most accountants are responsible for a wide range of finance-related tasks, either for individual clients or for larger businesses and organizations employing them. It is important that your accountant takes the time to get to know you and your business in order to be able to advise you correctly. How well does your accountant know you and your aspirations for your business?

08.01.2022 Can I claim depreciation on a second hand or existing property? Our quantity surveyor, Tuan Duong, from Duo Tax explains: "To qualify, your dwelling needs to have been constructed after 1987 or renovated after 1992. Renovations are a key component of depreciation, as any works complete by yourself or the previous owner may amount to beneficial deductions.... Where the construction date is not known, the quantity surveyor can estimate the build date and provide the right advice to whether you will attain worthwhile deductions. Generally, properties built prior to 1987 have had some form of renovation completed, and the quantity surveyor is able to estimate the value of any capital expenditure. Case Study: Emilio has purchased a 3-bedroom house built in 1989 to add to this investment portfolio. A deduction of $2,432 yearly was achieved on the original structure of the building. This type of capital works deduction encases the concrete slab, roofing, plasterboards and any other permanent assets during the original construction period in 1989. Furthermore, the quantity surveyor had also identified a further $57,448 in renovations made by the previous owner in 2013. The result, Emilio is able to claim a tax deduction of $3,629 yearly in depreciation which has resulted in approximately $1,100 in cash refunds yearly. Emilio can expect to claim the same amount for the next 10 years and further given the 40-year ATO ruling on capital works deductions". Investors are encouraged to contact their Accountant to find out approximately how much in tax they could be looking to save each year by having a quantity surveyor report. Our business partner Duo Tax will provide you with a complimentary consultation on your property and the approximate deductions that might be possible.

07.01.2022 Eligible businesses can now claim more the $10,000 for Job Maker Hiring scheme over a year. To be able to claim you must meet the eligibility criteria. Contact us to find out more on how or whether your business could make use of this scheme The scheme will end on 6th October 2021.

07.01.2022 Did you know... Insurance payouts you receive for any damaged or destroyed personal items are not taxed. However, Insurance payouts for businesses or income producing assets are taxed.... For e.g if you receive a payout for your personal use car, you do not need to include it in your tax return. If you used any assets such as cars or properties even partially for work purposes then there might be tax consequences. It is important that business owners correctly inform their insurer of their GST status. At the time of payout you could be either liable to pay GST on the insurance payout or missing out on GST credits upon making any purchase using the insurance payout.

06.01.2022 Numerous studies show most people havent estimated their retirement expenses and income needs or put together any sort of retirement plan at all. Financial planner Geet Tangri from Coffee with Geet Financial Retreat has these questions for you and if you have answered "no" to any then please get in touch with her for a complimentary session.

06.01.2022 We offer both Individual and business tax returns. We will endeavour to ensure that you pay the least tax possible, legally and ethically.

06.01.2022 Every investment would have its related potential deductions. Rental properties are one of them. A tax consultant is not only able to identify these for you but also advice on the average deductions and tax savings these could provide. We recently helped one of our clients find an extra $4,790 in deductions to help themselves to a cool $2,000 in extra tax refunds. As a bonus we can amend the previous two financials years tax returns resulting in additional deductions of more ...than $5,000 for each of those tax returns. Instead of being in a tax payable position, our client will be in a refund position getting back atleast $1,500 into their pocket for each of those financial years! Our services are value added and this is one of the examples of how we seek to provide the best outcome for our clients.

04.01.2022 Thanks Paul always happy to help out a local small business. Glad to see this business up and running again.

03.01.2022 Started our first training program for Accounting graduates and others needing to enhance their skills in bookkeeping, accounting and cloud based accounting softwares. Trainees receive direct training and supervision from Unni, principal Accountant of the practice. This provides the trainees with real life practical training replicating the nature of working in an Accounting practice, making them job ready. We have received tremendous feedback to our unique way of customised and personalised training. Cant wait to roll out more courses in the new year!

03.01.2022 What actually is your net value in holding onto an investment property? A good way to find out whether a property is bringing back value to you is to know how much its market value is increasing each year. Compare the market value increase with the actual cash outflow you have to make to keep and maintain it. A negatively geared property might help you offset the net loss against your income and consequently reduce the tax. However if the market value is not increasing, then ...the actual investment might not be worth holding onto. When you sell the property in future you want to ensure there is capital gains. If not, your net cash outflows will be more because tax savings through negative hearing is only a certain percentage (based on your tax threshold). Looking at it from both a tax and market value is the ideal way with any investments. A real estate agent or a mortgage broker will be able to let you know the market value. We can tell you the actual tax savings and cash outflows. By combining them both you will know the actual value position of holding onto an investment. The last thing any investor will want to know after 10 or 20 years in holding onto a property is that it has made them less wealthier.

03.01.2022 Latest info on JobKeeper updated. Enrolment commence from 20th April. Reach out to us if you have any questions.

02.01.2022 Tax Planning is not the same as tax compliance. With tax compliance, your accountant tries to maximise your refund or savings by claiming valid deductions that you have evidence for. Tax planning is an advanced service that investigates what legal strategies you could implement to make structured savings and the required action/steps that are necessary to make those tax savings happen. This can produce very significant savings in the range of $2,700 - $100,000 pa. Well beyond anything that can be achieved by only lodging a tax return. Does your accountant offer a tax planning service?

02.01.2022 Started, spent and ended 2019 year providing free services to community. This time we bought, packed and distributed 52 dental packs in addition to 90 nutritional juices to our homeless friends in Brisbane. Looking forward to an even more power packed 2020!

02.01.2022 We don't just do tax! Last week we had a client come to us looking for a different kind of help... He had lost his job as a result of Covid-19 effects. We hooked him up with another one of our clients who was looking for a new employee. Everyone is happy! Being a responsible business owner is about so much more than doing your job!

01.01.2022 Latest Updates Tax cuts: The Treasurer has confirmed bringing in income tax cuts to boost consumption. This is likely to be achieved by creating one big tax bracket between $45k to $200k where tax rate will be 30 cents in the dollar. ... Over the next few financial years the income tax brackets are proposed to increase from $41k to $45k for the 19 per cent bracket and from $90k to $120k for the 32.5 per cent bracket. From 2025FY, the 32.5 is proposed to be reduced to 30%. Super There are changes to Super from 1 July such as extension of spouse super contribution up from age 70 to 75 (tax offsets available) and extending work tests to make personal super contributions. Covid-19 stimulus packages Towards the end of this month, it is expected a targeted income support will be announced to help businesses post September by the Treasurer. The Australian Banking Association has announced that the banks have extended deferrals for up to four months for business loans for customers with reduced incomes and ongoing financial difficulty. This will not be an automatic deferral, customers are expected to work with their banks to determine the best long term solution. The second wave of Covid-19 surge in Victoria will have a direct impact on the overall recovery for businesses and economy. Lookout for a slew of announcements towards the end of this month.

01.01.2022 These two big boxes full of fresh veggies and fruits were received as a surprise to our office by a special client, Antonietta Russo who runs an amazing hairdressing business called Capelli Russo in Albany Creek. These fruits and veggies will surely go to our hungry friends in the community. Thank you for your benevolence Anton!