Bookkeeping – The Benefits of Outsourcing

Business owners know all too well that keeping their books in order is one of the most important parts of running an efficient and profitable business. While a majority of business owners prepare their own books, there are a number of benefits that can be gained from outsourcing their bookkeeping needs.
Outsourcing the bookkeeping function provides [...]

Taxation Office identity theft warning

The commissioner of taxation has advised that tax file numbers (or TFNs) must be kept safe to reduce the possibility of identity theft.
Taxpayers should only supply their TFN to certain people, including the Tax Office, Centrelink, their super fund, bank or financial institution, and their employer.
The tax office has warned that if anyone asks a [...]

Deductible rental property travel expenses

Travel expense claims can be made in respect of the following activities:

Preparing the property to allow new tenants to move in (except for the initial tenant);
Inspecting the condition of the property during or at the end of tenancy;
Repairing the property for damage or wear and tear caused by tenants or while it was available for [...]

Please Note: Many of the comments in this blog are general in nature and anyone intending to apply the information to practical circumstances should seek professional advice to independently verify their interpretation and theinformation's applicability to their particular circumstances.