Tax and Accounting Professionals in Dandenong, Victoria | Tax preparation service

Tax and Accounting Professionals

Locality: Dandenong, Victoria

Phone: +61 3 9793 9182

Address: 41 Walker Street 3175 Dandenong, VIC, Australia

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

Likes: 336

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

19.01.2022 De-registration on basis of not being fit and proper person The Full Federal Court has dismissed an appeal by a tax agent and confirmed the TPBs decision to terminate his registration on the grounds he was not a fit and proper person largely based on a false declaration the agent made to the Migration Agents Registration Authority. The decision also precludes the tax agent from applying for re-registration for 5 years.

18.01.2022 Sunday clean up ....getting ready for the new financial year

18.01.2022 "It is change, continuing change, inevitable change, that is the dominant factor in the society today. No sensible decision can be made any longer without taking into account all the surrounding factors as it is, but the new world as it will be..."

18.01.2022 I dont see how any of us could be successful tax professionals long term without focusing on tax education. CPD and formal education programs are key aspects of a tax professionals development. Finite bit of knowledge that you learn and the you say " Oh I am tax specialist I know all about taxation".... Its making sure that you have been keeping on top of it by attending CPD events , reading updates, and be comfortable that you are bringing the best to them.

13.01.2022 Its TAX TIME, around the corner, while necessary can be daunting for small business. But a little preparation before the end of financial year can pay dividends when it comes to preparing the year -end accounts and income tax returns.

12.01.2022 21 May 2019 You should apply these three golden rules when claiming business expenses to help get it right: The expense must have been for your business not for private use.... If the expense is for a mix of business and private use, you can only claim the portion that is used for your business. You must have a record to prove it. Tips for claiming business expenses When claiming business expenses do not include private expenses such as private rent, fines, travel, food, or renovations of a private residence. For expenses that are a mix of business and private use, claim only the business portion. When upgrading accounting software, check business and private expense codes are correct. When claiming business expenses, ensure it is at the GST exclusive rate if you are registered for GST, not the GST inclusive rate. Make sure you have the right records to prove your business expenses. If you operate your small business as a company or trust, paying private expenses from these accounts may have other tax implications such as fringe benefits tax and shareholder loans. Remember, registered tax agents can help with your tax.

11.01.2022 Fake tax agent sentenced for stealing refunds The ATO has reported that a 33-year-old Sydney man who pretended to be a tax agent has been sentenced in the Mt Druitt Local Court to two and a half years jail (to be served in the community by way of an Intensive Corrections Order). The ATO said the man lodged tax returns for more than 1,000 people using their myGov login details, and charged them a $100 fee, only to then steal their refunds. The ATO, TPB and NSW Police led a joi...nt investigation into his activities after receiving complaints from people who responded to his advertisements on Facebook and Gumtree. The fake agent was also ordered to pay $13,000 in compensation to the ATO and his victims, while $22,000 worth of his assets were seized. ATO Assistant Commissioner, Adam Kendrick, said unregistered tax preparers pose a threat to vulnerable taxpayers and risk the reputation of registered tax agents. Giving personal identifying information (such as a TFN or myGov login), to an untrustworthy person can end badly, as in this case, Mr Kendrick said. See more

05.01.2022 Thinking of purchasing assets for your business? The instant asset write-off threshold has been increased to $30,000 and extended to 30 June 2020. If you purchase an asset (new or second hand) costing less than $30,000 and it is used or installed ready for use from 7:30pm AEDT on 2 April 2019, you can claim a deduction for the business portion.... Different thresholds apply for assets purchased before that date: from 29 January 2019 until before 7.30pm AEDT on 2 April 2019, the threshold is $25,000 before 29 January 2019, the threshold is $20,000. You may purchase and claim a deduction for multiple assets provided each asset is under the relevant threshold. Assets that cost $30,000 each or more can't be immediately deducted. You can continue to deduct them over time using the small business pool. The instant asset write-off has also been expanded to include businesses with a turnover from $10 million to less than $50 million. Remember, registered tax agents can help you with your tax.

04.01.2022 Tax season around the corner

03.01.2022 Kareem Has reached milestone (10) years with TAAP. Joined TAAP as a junior trainee and now as an Admin Manager of the firm.