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 this […]
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 […]
Penalty for failure to lodge tax return on time?
Received a penalty from the Australian Tax Office for a failure to lodge your tax? You are not alone with the Australian Taxation Office (“ATO”) being on a significant collection drive by sending these types of notices for overdue income tax, GST, activity statements, and other lodgements. The ATO calculates the dollar value of the […]
Budget Measures & How It will affect you
Small Business are clear winners in the 2015 Federal Budget. Q&C Accountants are pleased to be able to provide you with the below snapshot of the budget changes & how they may affect your business. There are a raft of other changes in relation to Health, Care, Defence & business. We note that most of […]
Prepare now for 2015
Are you expecting a tax refund? It is almost that time of the year again – limited appointments remain for July week-nights and Saturdays – so please contact us below. Allow us to professionally prepare your Income Tax Return with care and commitment, we will apply our years of experience to ensure you are given the […]
Do you still need to lodge your 2014 Income Tax Return?
Still need to lodge your 2014 Income Tax Return? Join many other clients and be provided with Quality – Mobile, Afterhours & Weekend Tax Preparation Services. Call us today – (07) 5535 0767 or 0404 935 495 There is still time to lodge without potentially being penalised by the ATO. If you lodge through a registered Tax […]
Cash v Accrual Accounting Methods
Cash vs. Accruals – knowing your options. Business owners with an annual turnover of under $2 million per year, have a choice whether to report their GST using a ‘cash’ or ‘accrual’ method. This can result in substantial differences in respect to Quarterly GST and annual Income Tax refunds / payments. What Is the Difference between […]
