Yearly Archive: 2016

tax planning, tax,

Renting out a room is rental income

December 5, 2016

The December edition of Kothes Advantage, our monthly newsletter filled with all things tax and accounting related, features an article on rental income. With the explosion of Airbnb and coming into the holiday period, now is a good time to check in and understand what expenses you can claim. If you need more information please...


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Kothes Accounting

GST on low-value imports

November 28, 2016

Goods imported into Australia – often by consumers using the internet – which cost less than $1,000 are currently GST-free. On May 3 2016, as part of its package of Budget Night announcements, the Federal government proposed that, as of 1 July 2017, this low-value threshold (LVT) of $1,000 will be abolished. The removal of...


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Cloud Accounting

What is cloud accounting?

November 28, 2016

Cloud accounting may be a bit of a buzz word, but it’s actually one of the best things to happen to business owners. At Kothes Accounting Group, more and more of our small business, medium-sized business and individual clients are changing their accounting systems to cloud-based. The major accounting programs for businesses such as MYOB...


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Super Co-Contribution Explained

November 28, 2016

Taking control of your superannuation as early as possible is a great way to plan for your future. Kothes Accounting Group Bega has the only Self Managed Super Funds (SMFS) specialist on the NSW Sapphire Coast, Gary Skelton. So what is the Super Co-Contribution? This is intended to help eligible people boost their retirement savings....


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Tax Planning

ATO exposes dodgy work-related deductions

September 28, 2016

With over eight million Australians claiming work-related expenses each year, the ATO is reminding people to make sure they get their deductions right this tax time. Assistant Commissioner Graham Whyte said that, in 2014/15, the ATO conducted around 450,000 reviews and audits of individual taxpayers, leading to revenue adjustments of over $1.1 billion in income...


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Want to streamline your accounting system?

September 28, 2016

CONSIDER XERO for your SMALL BUSINESS Many of our clients are enjoying the benefits of one of the most innovative and life-changing accounting software programs to enter the accounting world, Xero.  From your phone you can check your cashflow, send out invoices, process payments, reconcile your bank account and track sales and purchases. You can...


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PRE-RETIREES: avoid ‘too good to be true’ schemes

September 28, 2016

The ATO has launched a new project called ‘Super Scheme Smart’, an initiative aimed at educating individuals about the potential pitfalls of ‘retirement planning schemes’. The ATO says individuals most at risk are those approaching retirement, including anyone aged 50 or over, looking to put significant amounts of money into retirement, particularly Self Managed Super...


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small business tips

Kothes small business tax tips

August 12, 2016

At Kothes Accounting Group we realise running a small business can be overwhelming, particularly when it comes to tax planning and keeping up with tax changes. We’ve put together a few simple small business tax tips for you, and if you would like further information, please don’t hesitate to contact your Kothes chartered accountant. Be...


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small business tips

Beating procrastination in your small business

May 16, 2016

Procrastination is often described as the art of putting off until tomorrow what you should be doing today. Unfortunately it can be a big obstacle to business success. Here’s how to beat it. 10 top tips 1. Prune your ‘to do’ list ‘To do’ lists aren’t always useful. Sometimes they make the situation worse. Many people...


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