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Negative gearing: What does this really mean?

If you’ve heard the term ‘negatively geared’ thrown around, not knowing what in the world was being spoken of and always had it fly right over you, then please read on. It may have far arching effects on your pocket and  how much tax you ultimately pay. In simple terms, negative gearing is when you […]

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Little Known Tax Savings to Lower What You Owe

Trying to figure out how much money you can save on your taxes can be difficult, especially since the tax guidelines seem to change just slightly every year.  While it might seem like you have a number months to prepare the information for your taxes, the reporting deadline will arrive faster than it seems like […]

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High alert issued over myGov scam

The National Cyber Security Alliance website – ‘Stay Safe Online’ has issued a high alert concerning a bogus myGov email. The email promises taxpayers a tax refund but instead is being used to steal financial and personal information. The email has the subject line, ‘Important information regarding your account’, has the myGov logo and claims […]

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Dinesh takes charge as the President of Wanneroo Business Association

We are excited to have our Managing Director, Dinesh Aggarwal, as the new president of the prestigious Wanneroo Business Association (WBA). The new board was appointed during the AGM held on 18th of July 2018 and was witnessed by members of the Wanneroo small business community. The city of Wanneroo Mayor- Tracy Roberts also graced […]

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End Of FY Income Tax Return Checklists

Click on the checklist that applies to you below to find out what you need to have ready pre-tax lodgment . INDIVIDUAL TAX RETURN CHECKLIST BUSINESS RETURN CHECKLIST While it can be tempting to put off completing your tax return, the sooner you know what your tax liability is, the better you can budget to pay […]

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Tax Time Tips for Small Businesses

Tax Time Tips: Small Business Tips for the closed financial year Now that we’re into a new financial year, you’re probably still cleaning your books to meet with your Accountant and talk about your tax liability for last year. Here are 7 simple tips that might perhaps help you to reduce your taxes payable.   1: Remember to […]

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ATO changing GST collection for some property transactions

As of the 1st of July 2018, those who purchase new residential premises or potential residential land need to withhold an amount from the purchase price and pay it directly to the ATO on or before settlement. Click here to read more about the transitional rules that apply and how the change may affect you.

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Fortuna at the Australian Accounting Awards 2018

A remarkable effort indeed! We are proud to have emerged as finalists in 3 categories of the prestigious Australian Accounting Awards 2018 : Business Advisory Firm of the year Diversified Firm of the year and Marketing Program of the year The award ceremony was held on 1st June at the Hyatt Regency, Sydney. Our excitement went […]

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The Federal Budget 2018: What you need to know.

Personal income tax cuts for low to middle income earners. From July this year, the 32.5% tax bracket will be lifted to $90,000 from $87,000. A new tax offset of $530 a year, paid as a lump sum. Those earning between $48,000 and $90,000 will get the full benefit of the offset. The Tax system […]

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Do you Import low value goods? If so, this one’s for you!

Are you a small business importing goods worth over A$1,000 from overseas? Are you registered for Australian goods and services tax (GST)? Then you must know that, from 1 July 2018, (GST) will apply to sales of such low value goods. For more information on what this means for your business, click the link Here. (Source: […]

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