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Why Fringe Benefits Tax Matters to You

Employers pay Fringe Benefits Tax (FBT) on certain benefits that are provided to their employees, employee’s families and associates. For FBT to apply the person must be considered as a current, future or past employee, a beneficiary or the director of a company. FBT is created for the employee’s benefits and is levied by the[…]

Updates to Australian Government Support for Coronavirus

Recently the Australian Government announced a number of measures to support Australian businesses and individuals during this unprecedented time of uncertainty amid Coronavirus. They’ve now also announced the second phase of that package, with greater levels of support.  QC Accountants is here to support you through this challenging time. We’ve drafted the below summary of[…]

Coronavirus and Your Business – Support is Available

Australian Government Coronavirus Support for Businesses The past 48 hours have seen an escalation of responses to COVID-19, following the World Health Organisation’s categorisation of the spread of the virus as a “pandemic”. Economic impacts are being felt – and the Australian government is implementing urgent measures to support businesses through what may be a[…]

5 Minutes with Dean Coram

We’d like to introduce our team. Accountants aren’t just all about numbers, you know (although we love those too). Here are a few little things you might not know about our quirky team. This month we’re chatting with our director, Dean Coram.   What is your role at QC Accountants? Director   Where did you[…]

A Simple Guide On How To Change The Structure Of Your Business

A simple guide on how to change the structure of your business An inevitable part of business is growth, and as such a business can outgrow the structure it was created under.  It is important to look at the legalities of changing your business structure and to have a chat with an expert. Here are[…]

Renting Out Part of Your Home – The Tax Implications

Renting out part of your home – Tax implications There is a significant increase in the number of people who are choosing to rent out rooms within their homes. Not only does it contribute to the mortgage and help cover utilities, but it also fills space that would otherwise be unoccupied. The rent received is[…]

5 Minutes with Jacki Penbrook

We’d like to introduce our team. Accountants aren’t just all about numbers, you know (although we love those too). Here are a few little things you might not know about our quirky team. This month we’re chatting with Senior Accountant, Jacki Penbrook.   What is your role at QC Accountants? Senior Accountant   Where did[…]

Kickstart 2020 on the Right Financial Foot

If one of your New Year’s resolutions is to get your finances in order, this article is one to have in your toolkit. Keeping receipts and getting more organised will save you time and reduce costs. Most of all, it’ll save you from headaches – and don’t we all want fewer financial headaches? Each year,[…]

5 Minutes with Justin Fahey

We’d like to introduce our team. Accountants aren’t just all about numbers, you know (although we love those too). Here are a few little things you might not know about our quirky team. This month we’re chatting with Graduate Accountant, Justin Fahey.   What is your role at QC Accountants? Graduate Accountant   Where did[…]

Christmas-Related Gifts and Parties

Believe it or not, the holiday season is just around the corner!  Joyfully, the season of festivities & gift-giving extends beyond home and friends to our workplaces. Some companies choose to host parties exclusively for their employees, but others want to invite associates and/ or clients too – the more the merrier!  Before we all[…]

5 Minutes with Chris Henman

We’d like to introduce our team. Accountants aren’t just all about numbers, you know (although we love those too). Here are a few little things you might not know about our quirky team. This month we’re chatting with Director, Chris Henman.   What is your role at QC Accountants? Director   Where did you grow[…]

QBCC Requires Annual Reporting

The Annual Reporting requirement is part of the new reporting requirements that the QBCC introduced in the 1 April 2019 legalisation changes. The Annual Report The Annual Report asks each licensee to provide the QBCC with Financial Information (essential profit & loss and balance sheet information) from the most recent financial year – for most[…]

5 Minutes with David Wood

We’d like to introduce our team. Accountants aren’t just all about numbers, you know (although we love those too). Here are a few little things you might not know about our quirky team, starting with David Wood.   What is your role at QC Accountants? Business Development Manager   Where did you grow up? Gold[…]

The Middle-Income Tax Offset – An Explanation

As you may already be aware, as of July 2019, there was a new tax offset available to middle-income earners. This means that people earning an income within a certain range may have been eligible to have their tax reduced by a specific amount. What does this mean for you, and by what amount? Read[…]

Single Touch Payroll – from the Employers and Employees perspectives

Single Touch Payroll – For Employers & Employees On 1 July 2018 the Australian Taxation Office (ATO) began the rollout of their new ‘more efficient’ system for employers to report their employee’s wages, tax & super (Employee Obligations) information to the ATO. The Summary This system has been labelled as ‘single touch payroll’ as it[…]

Selling your Cryptocurrencies at a loss

To HODL or not to HODL – that appears to be the question of the day. We have received a lot of questions recently about the income tax consequences of selling Cryptocurrencies for a loss. Your reporting obligations will largely depend on whether you are treated as a Cryptocurrency trader (business), investor or a personal[…]

Car expenses you can claim as an employee

Daily Tax Tips – Are you prepared for 2020?? Day 1 – Car expenses you can claim as an employee! As an employee, you can claim tax deductions for your motor vehicle if you use it for work purposes. These include transporting tools and equipment, travelling between workplaces & travelling away for work (“business kms”).[…]

Tradies – buy your business a Christmas Present

We all love to give presents to our friends and family during the Christmas period but there has never been a better year to give your business a Christmas Present. In May 2015, the Government provided a significant incentive for small business owners to purchase business assets up to the value of $20,000. What does[…]

Tips to enjoying Christmas with your staff

We all love to spread the Christmas cheer and share the holiday season with our staff, friends & families. Before you provide your employees with Christmas gifts or parties we encourage you to consider the Fringe Benefits Tax implications. Background – what is Fringe Benefits Tax (“FBT”) Fringe Benefits Tax (FBT) is charged to employers that provide employees[…]

QC Accountants and the Pet Selfie Competition

The 2015 Pet Selfie Competition QC Accountants and Mortgage Choice Robina were proud to host the 2015 Pet Selfie Competition. The 2015 Pet Selfie competition ran throughout September and headlined at the 2015 Pet & Animal Expo held at Varsity Lakes, Gold Coast. In its inaugural year, the competition was an overwhelming success with over 200 entrants,[…]