Gold Coast Accountants Blog

Accounting – Business strategies – Bookkeeping Practices – Tax Planning – Business Valuations – Wealth

Passing the Baton: Why Every Business Owner Needs a Succession Plan

While everyone wants their businesses to be successful and operate for a long time, you may not necessarily want to remain at the helm. As some point, you may want to pass the business on to your children, or to someone else in the company. You may want to sell your share to your business partner. Or you may want to sell the business to another person or company, and retire on the...

Read More

The Principles of Accrual Accounting

Accrual accounting is a little different that the type of accounting that most people know, in that this type of accounting measures performance of a company by the economic events that occur, rather than when cash, revenues or expenses occur. This process allows current cash flow items to be combined with the cash flow of the future expected revenues to get a more accurate look at the current...

Read More

Importance of Keeping Good Business Records

When starting a new business many of the small business owners does not gives much thought to their accounting system. They actually do not think about it at all. They just think how to run the business and how they can make good money. Many of the small businesses fail due to the poor financial records. It is very much important to keep timely and accurate records of the business. For keeping...

Read More

Investment Tax Deductions For Australian Real Estate

There are several ways Australians are able to use their individual savings to improve their financial status. After you have determined what your objectives are, and what you hope to achieve by investing your money, you can start to look at the opportunities available for putting your money to work. Evidently, one of the most common ways is by investing in property. Whereas having possession of...

Read More

Anatomy Of An ATO Audit

The Australian tax office, commonly referred to as ATO has an active system that departments and businesses need to comply with. The system designed to raise maximum revenue from businesses is especially concerned with what the officers could consider to be risk departments. As a business, it is important to have up to date knowledge with regard to the requirements and obligations. This may...

Read More

7 Australian Tax Planning Tips

It is common to worry about paying taxes as soon as the tax season arrives to legalize your money. While some people may try to adopt illegal ways to get around the taxes, however, if you are a citizen of Australia, there is no way that you can avoid taxes. Therefore, it is always a great idea to get to know about some of the tax planning tips. Before we continue, it is of prime importance to...

Read More