The Kitchen Bench.
bookeeping hacks and tax walkthroughs
If you're ready to start up a new small business, choosing the right structure for your business should be one of the first items on your to-do list.
In this post we introduce a 5 step process that you can follow to assess if, when and how owning shares in a foreign company can affect your end of year taxes in Australia.
Shell companies, offshore accounts, beneficial ownership, bearer shares, nominees. Tax havens.
Once upon a time, these were concepts rarely discussed outside boardrooms and academia.
Today, they are well and truly part of the public conversation, following the extensive media coverage of recent events such as the Panama Papers data leak.
More so than ever, I have found the topic of tax havens popping up in conversations with curious clients, colleagues, family and friends. Most have read how the mega-wealthy, huge corporations and criminal networks can use them to hide assets and avoid tax. Yet, what I’ve often found they are really interested in understanding, is the juncture between small business and tax havens.
Following on from Part 1, this post looks at the tax implications that buyers and sellers of small businesses need to be aware of when considering earnouts.
How to bridge the gap when a buyer and seller can't agree on the price of a business.
Did you know that Australian taxpayers claim around $8 billion dollars in work related car expenses each year? That’s around 40% of all work-related deductions claimed.
With the government currently reviewing the way in which work-related car expense deductions are calculated, now is an opportune time to take a closer look at the changes and what the landscape for deducting car expenses is set to look like for the 2016 financial year.
In this post I’m going to show you how to: Identify what your company secretarial file contains, keep your company secretarial file up to date and notify ASIC of changes to your company.
I’m even going to give you the template documents you need to evidence key company decisions, appoint or remove a company director, appoint or remove a company secretary, declare solvency and change a company’s registered address.
Here at sansdesk, nothing warms our hearts more than hearing about unique individuals enriching their own lives by facilitating the dreams of others. When we read Clio’s story on the Airbnb blog, we knew we had to reach out to hosts just like her and do our bit to make their life easier - sans desk.
While I have penned the post as a shout out to Airbnb hosts, the concepts could be applied in a more general sense to anyone seeking to rent out a part of their home, whether through Gumtree, Realestate.com.au, Flatmates.com.au and so on.
The Kitchen Bench is the official sansdesk blog. We will be using the blog as a platform to share some of our own hacks, guides and knowledge with the Sansdesk community.