As part of the 2021 Federal budget, the government announced $15.3 million in funding to accelerate the adoption of e-invoicing by public services and Australian businesses. Through the adoption of e-invoicing systems and standards such as PEPPOL, the government hopes to reduce business costs and increase the productivity of the...
Category: Business cashflow
How to Calculate Asset Depreciation 101
Most business owners know they need to calculate asset depreciation as a cost of doing business but are unsure of where to start In this article, we’ll take you through the process of working out your depreciation expense, and show you how to account for the sale of a depreciable...
What is Asset Depreciation? Everything you need to know
Are you looking to buy an asset for your business? If so, figuring out the potential impact on your financial statements before making the purchase would be a wise move. While small items like calculators and stationery are expensed in the year they’re purchased, the cost of fixed assets are...
What you need to know about Capital Allowances
Not claiming the full capital allowances you’re entitled to is like throwing money away. Capital allowances can offset your business income and reduce the amount that ends up in the tax man’s pocket. That’s why it’s important to stay on top of this tax area. To help, we’ll run through...
What a medical accountant can do so you don’t have to
It’s totally ok if you don’t have the time to learn about medical accounting or accounting methods for medical practices. Whether you’re a dentist, general practitioner, optometrist, physiotherapist, surgeon or some other medical specialist, getting support from a medical accountant is a great way to free up your time while...