deanne.atkins@acumon.net.au 02 4931 1100
Acumon Accountants and Business Advisors

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SMSF

Your SMSF: Common questions & answers on expenses & investments

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We often get questions from clients about what they can and cannot do in their SMSF, often to do with related party transactions – that is, interactions between the SMSF, its assets, and its members (or relatives of members).  Here are some of the common questions and answers. We often
Acumon Autumn Newsletter

Acumon Connect – Autumn Issue

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CLICK HERE to read the Acumon Connect Autumn 2021 Newsletter In this issue: Tax PlanningDraft Practical Compliance GuidelineSuperannuation Changes

The Final Stage Of JobKeeper And How To Access It

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The impact of COVID-19 has been felt very differently from region to region. Fortunes vary wildly between business operators subject to ongoing lockdowns and trading impediments to those benefiting from the “new normal”. For those severely impacted by COVID-19, JobKeeper might be available. The third and final phase of JobKeeper

Acumon Connect – February Newsletter

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CLICK HERE to read the Acumon Connect February 2021 Newsletter In this issue: – 2021 Opportunities– 2021 Risks– Benefits Of Going Digital– Financial Planning Advice
Tax Refund Loss Blog Acumon

Refunds for Tax Losses

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If your company has made a loss, you may be able to claim a tax refund for tax previously paid on profits. In the 2020-21 Federal Budget, the Government announced that businesses with turnover under $5bn* will be able to offset any losses made between 2019-20 and 2021-22 against previously

Tax deductions for investing in your business

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Stimulating investment is high on the Government’s agenda. To encourage spending, the 2020-21 Budget introduced a measure that allows businesses with turnover under $5bn* to immediately deduct the cost of new depreciable assets and the cost of improvements to existing assets in the first year of use. This means that

JobMaker Hiring Credits: What We Know So Far

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We’ve had quite a few questions about the JobMaker hiring credit announced in the 2020-21 Federal Budget. The legislation enabling the JobMaker scheme has not passed Parliament as yet and until this occurs, the JobMaker rules are not certain and may change. More details should be available soon and we’ll

Preventing a tsunami of insolvencies

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The Government has stepped in to prevent a wave of insolvencies when the COVID-19 support measures run their course in December 2020. Temporary insolvency and bankruptcy protections are in place until 31 December 2020 to enable businesses to trade through the pandemic. The measures provide: A temporary increase in the

Has COVID-19 devalued your business?

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If you are selling your business, merging, acquiring, or inviting in new investors, you need to understand the value of your business. But, to what degree does the pandemic impact on value? Should you discount or hold firm to pre COVID-19 performance on the basis that ‘we’re going to come

JobKeeper: The next steps

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The first tranche of JobKeeper ended on 27 September 2020. We look at the issues for those seeking to qualify for the second tranche of JobKeeper and for those no longer eligible. Wrapping up JobKeeper If your business is no longer eligible for JobKeeper payments, there are a few things

Acumon Connect – Spring Newsletter

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CLICK HERE to read the Acumon Connect Spring 2020 Newsletter In this issue: – Expert Advice– Q&A: Grants & Tax– Jason’s Juicy Burgers– Financial Planning Advice

Forecasting during a pandemic

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Now, more than ever, business operators should have a plan in place to manage during uncertain times. Even if your business is not directly impacted, it’s likely your customers, your supply chain, and your workforce will be to some extent. So, how do you plan for uncertainty when every assumption

COVID-19 and your SMSF

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COVID-19 has had an impact on many SMSFs. Let’s look at the key issues. Early release of superannuation When a member of your fund wants to access up to $10,000 of their superannuation early under the COVID-19 measures, there are some additional steps that trustees need to take. Trustees will

Business Help – What you Need to Know

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JobKeeper 2.0 The Government has announced further changes to the JobKeeper scheme. The good news is that employees that missed out on JobKeeper because they were not employed on 1 March 2020 might now be eligible. The proposed changes would enable employees employed on 1 July 2020 to receive JobKeeper

The ATO on COVID-19 fraud warpath

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Two major Australian Taxation Office (ATO) initiatives are searching out fraud and schemes designed to take advantage of the Government’s Coronavirus Economic Response Package. Tip lines, tax returns and STP The tip line, tax returns, and single touch payroll are just a few of the data sources the ATO is

Minimise Your Personal Tax

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TAX PLANNING GUIDE Now’s the time to review what strategies you can use to minimise your tax before 30 June 2020. Imagine what you could do with tax saved? Reduce your home loanTop up your superHave a holidayDeposit for an Investment PropertyUpgrade your Car The most important thing to remember

Acumon Connect – Winter Newsletter

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CLICK HERE to read the Acumon Connect Winter 2020 Newsletter In this issue: – Expert Advice– JobKeeper– Cupcakes with Claire– Financial Planning Advice

What Does Financial Freedom Mean To You?

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LET US HELP YOU ACHIEVE THE ULTIMATE IN FINANCIAL FREEDOM! Let’s keep it really simple. We can create for you, a one page plan for your future: how much money you will needan estimate of how much money you’ll havehow to help you get to what money you’ll need to

Acumon Connect – Autumn Newsletter

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CLICK HERE to read the Acumon Connect Autumn 2020 Newsletter In this issue: – Changes to key dates – Expert Advice – Welcome to our newbies – ATO targets lifestyle assets – Mix & Shake with Sally – Meet the Team – Financial Planning Advice

Are all your SMS Fund eggs in one basket?

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The investment strategies of Self-Managed Superannuation Funds (SMSFs) are under scrutiny with the Australian Taxation Office (ATO) contacting 17,700 trustees about a lack of asset diversity. The ATO is concerned that, “a lack of diversification or concentration risk, can expose the SMSF and its members to unnecessary risk if a

Maximising the value and returns on your rental property

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Did you know that capital allowance and depreciation are some of the biggest tax deductions claimed by owners of rental properties? If you have invested in a rental property or properties, we know that you’ll want to maximise their value and the returns that they can make for you. Tax

Are you holiday season compliant?

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We are just days from Christmas now, and before we sign off for the year, there’s just a few more things to cover. It’s the season for holidays, and as a business owner, you’ll need to know how to be compliant. New Fair Work Information Statement Firstly, there has been

Tax on shares: ATO extends data matching program

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The Australian Tax Office (ATO) is utilising data provided by the Australian Investments and Security Commission (ASIC) to data match share trades. The ATO is accessing more than 500 million records detailing price, quantity and time of individual trades dating back to 2014. The data complements information that the ATO

Taxation obligations and navigating the “gig” economy

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Firstly, Merry Christmas from the team at Acumon! We love this time of the year. There is a sense of goodwill and joy that people seek out and embrace (with the exception perhaps of the local shopping centre car park). After a hectic year, where time seems to tick by
Acumon Summer Newsletter 2019

Acumon Connect – Summer Newsletter

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In this Issue: – Key Dates To Remember. – Can the tax office take money out of your account? – Ruth is retiring. – In the kitchen with Deanne. – How much will your childs education cost? Click here to read the Acumon Connect Summer 2019 Newsletter

Ruth is retiring!

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It is with mixed emotions that the Acumon team will be farewelling our Receptionist, Ruth, at the end of this year. We will miss her expertise and dedication in the office, though we are happy for her to be entering an exciting phase of life… retirement! Ruth has been working

A helping hand for single parents

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Centrelink offers a range of financial benefits to help parents manage the cost of raising kids. And if you’re a single parent, you might even be eligible for additional financial support. This cheat sheet will give you an idea of which benefits you’re entitled to. Being a parent is a

Save time on decisions thanks to key financial calculators with the ACUMON App

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Making good decisions quickly often relies on access to key facts, figures and information. But swift access to reliable information is often a stumbling block which wastes time and effort. Thanks to the ACUMON App, you can have key financial information at your fingertips as it gives you access to

60,000 tax cheat tip-offs

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Tip-offs to the Australian Taxation Office (ATO) have reached an all-time high with close to 60,000 tip-offs received between June and May 2019 – almost double the number of the previous year. The ATO thinks the number of tip-offs will reach around 70,000 for the full financial year. Common problem

How to convert currency the easy way with the ACUMON App

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We’ve all been there. Whether it is a business trip or a well-deserved vacation, we have all found ourselves in the situation where we are trying to figure out just how much the tax fare is really costing us, in our own currency. Or perhaps you are making an internet

Will Apps replace websites? Are we witnessing the death of the web?

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It’s a subject that’s been causing debate in technology circles for quite a while now. In fact, as long ago as 2011 Forrester CEO George Colony gave a speech where he proclaimed the death of the web and the emergence of the “App Internet.”   To bring home the logic

Confusion over personal income tax changes – what are you really entitled to?

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The recent income tax cuts that passed through Parliament do not mean everyone automatically gets $1,080 back from the Government as soon as they lodge their income tax return. The Australian Taxation Office (ATO) has been inundated with calls from taxpayers wanting to know where their money is and how

Tax time: Are you in the ATO’s sights?

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A consistent theme this tax time is overclaiming and under reporting. With the Australian Taxation Office (ATO) getting more and more sophisticated in its data matching approaches, taxpayers can expect greater scrutiny where their claims are more than what is expected. We take a look at the key issues for
Acumon Connect Winter Newsletter 2019

Acumon Connect – Winter Newsletter

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In this Issue: – Key Dates To Remember – ATO to Target Clothing & Laundry Claims during Returns Period – Acumon App – Winter Warmer – Financial Planning Advice 2019 Federal Budget Click here to read the Acumon Connect Autumn 2019 Newsletter

How to keep track of your business mileage with the ACUMON App

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Do you claim for business mileage – and spend hours Googling the places you’ve visited to work out the miles you’ve covered? Well, thanks to the Acumon App, you can now get all the information you need permanently recorded on your Smartphone. Just set the Mileage Calculator to ‘Start Trip’

Why business owners need to face up to the challenge of Mobile and Smartphone growth

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The business landscape is not simply evolving; it’s changing dramatically, thanks to mobile technology. Back in 1992 a 22-year-old test engineer sent the world’s first text message. Today, more than 8 trillion texts are sent each year and, in October 2015, global users of Smartphones reached an astonishing 1.5 billion.

Receipt Management

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Simple, easy and efficient receipt management Managing your receipts can be a tough task.  Trying to keep track of all those important business expenses and receipts can be a nightmare: pockets overflow, wallets become crammed with them and inevitably, many are lost. If you are claiming back expenses, then this

How to close Apps in iOS on the iPhone, iPad or other iOS devices

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As more and more of our clients are using iPhones, iPads and other iOS devices, we want to blog about closing Apps in iOS. Your smartphone or iPad is a hardworking tool, capable of literally almost anything, including of course running our latest free App – you can get that

Single Touch Payroll

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Do you know what Single Touch Payroll is? STP is now in its second year… New mandatory salary and super reporting requirements came in to place last year, commencing 1 July 2018. Single Touch Payroll (STP) is a government initiative that changed the way businesses report on their payroll to

2019 Tax Planning + How a Coalition Federal Election Win Will Affect You

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Now that the Federal Election has been won by the Coalition, our combined focus needs to be on how you can save tax before 30 June 2019! While the Coalition have promised company tax cuts and individual tax cuts, the majority of these are planned for a few years’ time.

Why Acumon Clients Love this Free App | New App from Acumon

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Why Acumon clients love the new App  The Brand new App from Acumon  It’s been a few weeks now since Acumon launched the new iPhone and Android App.  In that time, clients and contacts have downloaded it across Maitland. The App has generated some fantastic feedback from users enjoying its

WORKHORSE VEHICLES – ATO outlines new Safe Harbour provisions

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Workhorse vehicles are generally exempt from the car fringe benefit rules, provided the private use of that vehicle is restricted to only minor, infrequent and irregular use. For example, dropping off / picking up children to school on the way to / from work. Where the private use is more

Federal Budget – What it means for you!

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This year’s Budget is rather unique as it occurred just before a federal election. While there are many parts of this years’ Budget that apply to future years, we have summarised below the key changes you need to know about for the next 12 months. Remember, if the Federal Government

ENTERTAINING, MEALS AND FBT TIPS & TRAPS

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An everyday occurrence across the business landscape in Australia is the practice of taking both existing and potential clients out for a meal to cement the business relationship, with the cost of this meal often covered by one party. Equally, business owners commonly reward by taking high performing employees out

What would happen if….

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Life does not always go to plan. While we logically know that, most of us don’t plan for the worst – it’s all a bit morbid and time consuming. The downside of not planning is the potential for hard earned assets to be squandered, family fall-outs, and money handed to

How the ATO identifies potential FBT employers

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The table below outlines the key tax return labels that can alert the ATO that an employer may have some FBT exposure. DISCLOSURE ITEM / RETURN LABEL FBT RISK Fringe benefit employee contributions Item 6, Label I of the ‘C Return’ Item 45, Label T of the ‘T Return’  
Acumon Connect Autumn Newsletter

Acumon Connect – Autumn Newsletter

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In this Issue: Key Dates to Remember Expert Advice – FBT Providing Cars to Employees The Acumon App Our Team Member Financial Planning Advice – Counting the Cost of a Curve Ball Click here to read the Acumon Connect Autumn 2019 Newsletter.

Acumon Accountants Launch Powerful App

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It’s landed! The Brand new App from Acumon  As a firm we are constantly looking for ways we can improve the service we offer our customers and we are proud to announce the launch of our brand new Acumon App.  It’s completely free of charge and it’s available for iPhones,

PROVIDING CARS TO EMPLOYEES TIPS & TRAPS

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The provision of company cars to employees is a regular practice across the Australian business landscape. Generally, there are two reasons to provide a car to an employee: 1. It’s a requirement of the job that employees travel regularly for work purposes, so providing a car will allow employees to
Help your kids avoid the debt spiral

Help your kids avoid the debt spiral

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If you’re a parent concerned about the spending habits of your son or daughter, you’re not alone. Here are some simple suggestions to help your loved ones take back control and stay out of debt. When you’re young and living life to the full, it can be tempting to see

How much will your child’s education cost?

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Your child’s education is an important investment in their future. But getting it right takes careful planning, which means you need a true understanding of the costs involved. As every parent knows, a quality education is one of the most important foundations you can provide for your child. But the

Your top five New Year’s financial resolutions.

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Overspent in 2018? Here’s how to put your finances back on track – and even get ahead. ­ Despite the best intentions, many of us will finish this year on a low note financially. Whether it’s the cost of Christmas presents or summer holidays, or unexpected expenses that cropped up
cash flow over christmas

Managing your business cash flow over the holiday period

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December is usually the busiest time of the year for retail and hospitality businesses. But businesses in other sectors often find that their sales slowdown and their customers stop paying them for a few months. So cash flow dries up. Whether your business is large or small, well-established or in

Acumon Connect – Spring Newsletter

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In this Issue: Key Dates to Remember Expert Advice – The ATO – Don’t Say We Didn’t Warn You! The Acumon App Spring Recipe – Chicken and spinach pasta salad Financial Planning Advice – September Quarter Market Update Click here to read the Acumon Connect Spring 2018 Newsletter.

Xero’s NEW 2SA login

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Just one easily guessed password can stop your business in its tracks. When it comes to keeping your Xero data secure, put an extra deadbolt on the door with two-step authentication (2SA), and stay safe online. Here are three steps to get you started and why it will become mandatory

Ethical investing can make cents

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Ethical investing has gone from backwater to mainstream over the past decade, as Australians discover they can make the world a better place whilst having the potential to make money at the same time. Whether you choose to support a sustainable future, animal welfare or strong corporate governance, it has

Tax Agent Scam Alert

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In a recent twist in the ‘fake tax debt’ scam, we have received increasing reports of a new scam method where scammers impersonate registered agents to lend legitimacy to their phone call. THE FRAUDSTERS DO THIS BY coercing the victim into revealing their tax agent’s name, and initiating a three-way

Your handy moving-house checklist

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Whether you’re a growing family in need of a bigger house, empty nesters downsizing, or someone who’s just looking for a change of scenery, moving to a new home is a big deal. It can also be costly, stressful and time-consuming. But don’t sweat, this checklist will make planning your

Are you holding back your business?

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Overcoming the biggest problems in business often comes down to the simple things. Here are a few simple things you can do to capitalise on your opportunities and reduce your risks. “I didn’t get time…” No more excuses Most people simply don’t set aside the time to do the forward

Clothing deductions hung out to dry

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The Australian Taxation Office is closely examining workrelated clothing and laundry expense claims of taxpayers submitting their 2017-18 tax returns. The ATO says that clothing claims are up nearly 20% over the last five years with people either making mistakes or deliberately over-claiming. Common mistakes include people claiming ineligible clothing,

Are you prepared for life’s unexpected plot twists?

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It’s impossible to know what’s on the horizon, but with the right personal insurance, at least you can be financially prepared against any curve balls life may throw at you. So, how do you know which types of cover are right for you? Here are some personal insurance basics to

Acumon Connect – Winter Newsletter

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In this Issue: Key Dates to Remember Expert Advice – Clothing Deductions Hung Out to Dry Meet Sharyn Crichton – Team Member Profile For Winter Winter Recipe – Chicken and vegetable baked risotto Financial Planning Advice – Perfecting part-time work Click here to read the Acumon Connect Winter 2018 Newsletter.

Everything You Need To Know This New Financial Year

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We are now a few weeks into the 2018-2019 financial year and the new financial year brings with it a few changes and updates to tax, wages, superannuation and cash payments. To help you become aware of these changes and updates, please find below a summarised version of everything you

The business owner’s checklist

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Being your own boss can be rewarding, but it’s also incredibly challenging. That’s why it’s important to future-proof your hard work by taking steps today that will prepare your business for tomorrow. When you’re running your own business, it’s demanding enough to keep up with the day-to-day, which means it’s

Perfecting part-time work

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Working part-time can give you the freedom to make the most out of both your professional and personal life – but you need to get the balance right. There’s no doubt about it, our working lives are becoming ever more flexible. Almost half of all female employees in Australia now

Use our Tax Deductions Checklist this EOFY

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Happy EOFY! We have reached the end of the 2017-18 financial year and now is the time to be collecting all your receipts, making sure your log book is up to date and getting ready for tax time. Paying less tax is not about ‘cheating’ the system, its all about

Time to ask for a pay rise?

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The gender wage gap is putting many women on the back foot financially – but a successful salary negotiation can make a significant difference. Here’s how to do it. In November 2016, Hillary Clinton came close to shattering the glass ceiling in her run for the US presidency – but

Acumon Connect – Autumn 2018

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In this Issue: Key Dates to Remember Expert Advice – Driversnote App Meet Clayton Atkins – Team Member Profile For Autumn Autumn Recipe – Slow Cooker Italian Beef Ragu Pasta Financial Planning Advice – Your future starts now Click here to read the Acumon Connect Autumn 2018 Newsletter.

Managing the costs of aged care

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Choosing the best aged care facility for yourself or a loved one can take its toll – both emotionally and financially. But with a bit of planning, you can take control of your cash flow and make sure you find the right care facility. Whether you’re considering residential aged care

Minimise Your Business Tax | Tax Planning Guide

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Imagine what you could do with tax saved? Reduce your home loan Top up your super Have a holiday Deposit for an Investment Property Upgrade your Car Here’s a guide to the strategies you can use to minimise your business tax. IS YOUR BUSINESS A “SMALL BUSINESS” ENTITY? Small businesses

Minimise Your Personal Tax | Tax Planning Guide

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Now’s the time to review what strategies you can use to minimise your tax before 30 June 2018. Imagine what you could do with tax saved? Reduce your home loan Top up your super Have a holiday Deposit for an Investment Property Upgrade your Car KEY SUPERANNUATION CHANGES While you might

Your financial future starts now

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They say every great journey starts with a single step – and your future is just beginning. Here’s how to get on the path to financial freedom at the same time. Every year, thousands of young Australians start one of the biggest journeys of their lives: their careers. And, if

WHAT IS A CAR FRINGE BENEFIT?

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A car fringe benefit commonly arises when an employer makes a car they own or lease available for the private use of an employee. If you conduct your business through a company or trust, you may be an employee of the company or a trust. A car is made available

Entertaining, Meals and FBT – Tips & Traps

1,818 Views
An everyday occurrence across the business landscape in Australia is the practice of taking both existing and potential clients out for a meal to cement the business relationship, with the cost of this meal often covered by one party. Similarly, a common reward business owners give is taking high performing

Easter Colouring Competition

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The Easter Bunny is getting all his eggs ready and will be here in a couple of weeks! Acumon is very excited to be running a Colouring Competition for local kids to celebrate this exciting, chocolate filled time of year. To participate, you can download and print your colouring stencils below

Financial advice for a long life

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Retiring earlier and living longer: why every woman needs the right financial strategy to make sure their savings will last their distance. Women in Australia can look forward to long and healthy lives, with the average female life expectancy now higher than 84.1 What’s more, women tend to leave the

Acumon Connect – Summer 2018

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In this Issue: Key Dates to Remember Expert Advice – Planning for tax time long before EOFY Meet Scott Atkins – Team Member Profile For Summer Summer Recipe – Quick and easy creamy pasta salad Financial Planning Advice – Wedding thrills minus the endless bills Click here to read the Acumon Connect

Give your kids a home-buying boost

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Rising property prices have made it harder for young people to get into the property market than it was for previous generations. Here’s how you can lend your kids a helping hand – without necessarily having to put up all the cash yourself. Recent statistics show that just over half

Wedding thrills minus the endless bills

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Many newlyweds start married life struggling from heavy debts from their big day. However, with a proper financial plan, a walk down the aisle can also be a stroll in the park. With the average cost of an Australian wedding now well over the $30,000*, tying the knot can mean

Planning for tax time long before EOFY

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For small businesses and individuals alike, the end of the financial year is always an extremely busy time. For businesses, accounts also need to be finalised, taxes need filing and budgets planned for the new financial year. That’s a lot, but don’t stress. Planning ahead throughout the year can help

Goals first, strategy second

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If you haven’t figured out your lifestyle goals for the future, your financial strategy is like a journey without a destination. With Christmas almost here, and a brand New Year looming, now is the perfect time to start planning ahead and preparing for 2018 and beyond. When you’re creating a

Starting a business from home?

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Setting up a home business is an exciting step. But for many, it can also make the juggling act between work and family a bit more challenging. Here’s how to start out on the right foot. Running your own business can be incredibly rewarding, but it’s also plenty of hard

Acumon Connect – Spring 2017

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In this Issue: Key Dates to Remember Expert Advice – Managing the log book just got easier Meet Ruth Noble – Team Member Profile For Spring Client Profile – Carrie’s Place Financial Planning Advice – Teach your kids about money! Click here to read the Acumon Connect Spring 2017 Newsletter.

The Advantages and Disadvantages of Buying a Franchise

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Owning a franchise can be a great way to run your own business with support and security from a broader business network. Is a franchise the right fit for you?  Before buying a franchise, consider your wants and needs, your strengths and limitations, your skills and passions and most of

Women and cancer: what you need to know

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Being faced with cancer can have a devastating impact on women and their families. That’s why it’s so important to reduce your health risks – and also know how to avoid the financial shock that a cancer diagnosis can bring. October marks the Cancer Council’s Annual Pink Ribbon Day, with

Is an SMSF right for you?

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If you’re thinking of setting up a self-managed super fund (SMSF), there are lots of things you need to consider first. That’s why it’s important to understand exactly what’s involved so you can decide whether an SMSF is the best option for your super. Like other superannuation funds, an SMSF

Business owners – what is your end game?

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Why do you own a business? It’s interesting to consider this because we are shocked at how many business owners haven’t taken the time to consider this fundamental question. From a big picture perspective, having a business provides you with a lifestyle. That’s it! It gives you cash now to

Have you baby-proofed your finances?

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Becoming a parent brings a world of joy into your life, but it can also put a strain on your household finances. So if you’re planning to take time off work to look after your little one, make sure you’re financially prepared. Although the prospect of taking months off work

What can I claim against my tax?

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It’s tax time again. What can you claim to reduce your tax? Deductions you can claim According to the Australian Taxation Office (ATO) website, there are 3 things you need to claim a work-related deduction: You must have spent the money yourself and weren’t reimbursed; It must be directly related

Starting young

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Do you ever wish you started seeing a financial adviser earlier in life? Then consider setting your kids on their own financial advice journey sooner rather than later. As every parent knows, children need to learn from their own mistakes, but that shouldn’t be the case when it comes to

Are you using the correct award rates?

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Happy new financial year! We hope last years was financially prosperous, here’s to another exciting year ahead. However, as it is the new financial year, it’s time to ensure that you’re paying up to the correct award rates. Here is a quick how-to-guide that we’ve put together to make sure

Your 2017 EOFY Tax Minimisation Tips

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Another financial year is about to finish! As a business owner, there are many obligations that you need to consider and action just before and after 30 June. Some of these will help to minimise your tax. We have outlined these action points below to assist you. BEFORE 30 June

Federal Budget 2017-18 – What It Means For You

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The 2017-18 Federal Budget was handed down last night. Please find below a summary of the announcements that are most likely to affect you. Highlights Notwithstanding speculation to the contrary, the Temporary Budget Repair Levy (levied at two percent of taxable income in excess of $180,000) will cease on 30 June

What employers need to know about FBT 2017

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We know that no one likes to pay tax and certainly no more tax than they should.  But very few people want to be on the wrong side of an Australian Taxation Office (ATO) audit where fees and penalties are paid for neglecting your obligations. The Fringe Benefits Tax (FBT)

The Handbag vs Briefcase deduction debate

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If a man can claim a briefcase as a tax deduction why can’t women claim their handbags? After all, men often have a lot of personal items in their briefcases and working women are just as likely to carry their ipads, documents, and other work related items in their handbag. 

Acumon Connect – Summer 2017

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In this Issue: Key Dates to Remember Expert Advice – Pride & Prejudice: Top Three Predictions for 2017 Meet Kim Wright – Team Member Profile For Summer Client Profile – Newcastle Steel Frames & Trusses Click here to read the Acumon Connect Summer 2017 Newsletter.

The Biggest Changes to Super in a Decade

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The biggest changes to super in a decade – how to capitalise now! Major changes to tax and superannuation have just been approved by the Government in December 2016. These are the biggest changes in the last 10 years. They are significant. Most of these changes will take place on

Acumon Connect – Spring 2016

1,726 Views
In this Issue: Key Dates to Remember Expert Advice – How To Not Lose Your Family Wealth Meet Callan Stammer – Team Member Profile For Spring Client Profile – Mortgage Masters Click here to read the Acumon Connect Spring 2016 Newsletter.

Don’t Roll the Dice – Take your HR seriously

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Do you run a business with employees? If yes, then we can guide you to take care of your Human Resources (HR) the EASY way. Don’t get caught out. If you answer ‘Yes” to any of the below you may not be legally compliant and may be exposed. Contact our

What do the new tax tables mean for you?

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The Australian Tax Office have introduced new tax tables effective from 1 October 2016. Here is what you need to know about the changes and what you need to do for these changes. The most remarkable change is the tax threshold for the 37% marginal tax rate for individuals which

Do you know the value of your business?

1,646 Views
Knowing the value of your business is beneficial for a number of reasons, not just if you want to sell. It can help with benchmarking, planning, investing, insurance and more. Here are the top reasons why you should know the value of your business: Measure business growth – How do

Acumon Connect – Winter 2016

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In this Issue: Key Dates to Remember Expert Advice – What you need to know about claiming property depreciation Meet Brianna Matzanke – Team Member Profile For Winter Client Profile – Xtreme Indoor Go Karts Thornton Click here to read the Acumon Connect Winter 2016 Newsletter.

Scattered SuperFunds, Consolidate Now

1,831 Views
Are you sick of receiving multiple super statements each year and trying to keep track of all of your super accounts? Consolidate now to put an end to the scattered superfunds! The benefits of consolidating: You only need to pay one set of fees The amount of paperwork is reduced

Claiming home office expenses in your tax return

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Many aren’t aware that they can claim home office expenses.  Whether your self-employed, a business owner or an employee – do you perform some of your work from home? If you do, here is a quick summary of the tax rules, and what home office expenses are allowed. Even if

Prepare Your Business for EOFY

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End of Financial Year is quickly approaching with a busy couple of weeks ahead for everyone, particularly business owners. But don’t stress, there are a couple of steps that you can take to prepare your business for EOFY and the future. The first step, and probably the biggest, is to

Are You Ready For EOFY?

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Regulatory requirements that small business owners are required to complete before the end of the financial year.  With the end of financial year fast approaching, small business owners should start to think about what they need to do by the end of June, but don’t leave it until last minute.

Top Tips for Debt Management

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If you have one or a number of loans, there may be a way that you can better manage your debts. Acumon Financial Services is able to help you with this but here are some top tips for your debt management. Calculate your debt It is important that you look

Acumon Connect – Autumn 2016

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Please click the link below to view the Autumn 2016 Issue of our Acumon Connect Newsletter with expert advice on electronic signatures! Acumon Connect – Autumn 2016  

Our Greenhills Office Has Moved!

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Our Greenhills office has now officially moved and we are very excited to meet you at our new location. The new office is at Suite 2, Unit 7, 19 Mitchell Drive, East Maitland (near Greenhills Vet). You are welcome to park anywhere, however we have allocated car parks at the

Teaching Your Children Good Financial Habits

1,763 Views
Budgeting, Spending and Saving: Crucial Skills ASIC recommends teaching children how to budget, spend and save money as early as possible. They see it as a vital part of a child’s development. They have a video on the website called “Teaching kids how to budget to become financially savvy.” We

Christmas is a time for giving

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The Christmas Season is a time for giving – donating to charity are tax deductible donations. This means any eligible donations you make to any approved organization, can reduce the amount of tax you owe to the ATO. This is a great benefit of donating to charity, and the tax

Acumon Connect – Spring 2015 – Wealth Portal

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The new ‘Wealth Portal’ on our Acumon website allows you to have your entire financial world in the one platform. With easy to use tools and the ability to access the portal 24/7, managing your finances has never been easier! The Benefits of the ‘Wealth Portal’: • All of your accounts are in

Would you like more control over your retirement savings?

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Is a Self-Managed Super Fund right for you? Self-managed super funds (“SMSF”) account for over 30% of all superannuation assets in Australia and continue to be the fastest growing sector within the industry. This growth has been driven by individuals wanting control over their retirement savings. SMSFs provide members with

Are Your Finances Secure?

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Password security has never been more important than it is in today’s world. Think about how you check you finances, pay bills, transfer money and make purchases. It is mostly done through online websites and applications. Whilst the security of finance and banking applications are generally pretty high, you may
Xerocon 2015

Xerocon 2015 Highlights

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Simple Cashflow Forecasting

Simple Cashflow Forecasting

2,052 Views
Success in today’s business climate requires you to plan and know what to expect. Unfortunately, sometimes this requires you to push aside your passion for your business and spend time sorting out your finances! A major part of managing your finances can be taken care of using one very simple

Is your business ready for EOFY?

1,797 Views
End of Financial Year is quickly approaching with a busy couple of weeks ahead for everyone, particularly business owners. But don’t stress, if you are a business owner, you will be pleased to know that there are a couple of steps that you can take to prepare yourself for EOFY

Federal Budget 2015

1,935 Views
Last week we heard the Treasurer Joe Hockey deliver his second Federal budget, with some key surprises in it, especially for small business. Below is a summary of the key features and how they could affect you! We at Acumon are here to make you smart financial decisions NOW so that

To Do List for Small Business Owners at Tax Time

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With the end of financial year fast approaching, small business owners should start to think about what they need to do by the end of June. The below tasks are required by law to be complete. • File an income tax return – your accountant will need a variety of financial

Acumon Connect Autumn 2015 – Tax Planning Starts Now

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To view the newsletter, please follow the link below. Acumon Connect Autumn 2015

Acumon is Online!

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Keep Connected with Acumon Acumon has launched a new website and is now on social media. Keep connected with Acumon by liking our page and following us on Twitter. We keep you in the loop by posting helpful tips, expert advice and updates on what’s happening in office. Like our Facebook page   facebook.com/acumonaccounting Follow

New Year Advice – Have You Considered?

1,746 Views
To view the article please click the link below. Acumon Connect – Summer 2015

What does FREEDOM mean to you?

2,144 Views
  To view the article please click the link below. Acumon Connect – Spring 2014

Is Your Business on Track?

1,936 Views
  To view the article please click the link below. Acumon Connect – Winter 2014

Managing Your Credit Rating

2,116 Views
  To view the article please click the link below. Acumon Connect Autumn – May 2014

Acumon Financial Services Pty Ltd ABN 96 137 905 116 is a Corporate Authorised Representative (ASIC No.1232849) of GPS Wealth Ltd | ABN 17 005 482 726 | AFSL 254 544

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