Yearly Archive: 2018

ATO text messages re bank account

December 19, 2018

The ATO has advised that it will send SMS text messages directly to taxpayers where incorrect bank account details were included in their tax returns and they were entitled to a refund. The SMS will advise impacted taxpayers that: Their refund cannot be processed due to incorrect bank account details. They should phone the ATO...


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Kothes accounting group

APPs to help busy tourist businesses

December 19, 2018

The holiday season is the most wonderful time of the year for more than a few industries: construction slows down, giving tradies a well-earned rest; big businesses shut down giving their staff time to spend with family; even Kothes gets an opportunity to shut down for a short time while we’re free of BAS and...


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Kothes Advantage December 2018

December 19, 2018

Another month has gone quickly and Christmas is only days away! We wish you a safe and happy holiday period! We hope to see a lot of tourist trade in our home region on the NSW Sapphire Coast over the summer. To help tourism businesses keep track of staffing during this hectic time there are...


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Christmas Parties and Gifts 2018 – understanding tax and FBT

December 19, 2018

Source: Practice Update, National Tax & Accountants’ Association Ltd FBT and ‘entertainment’ Under the FBT Act, employers must choose how they calculate their FBT meal entertainment liability, and most use either the ‘actual method’ or the ’50/50 method’. Under the actual method, entertainment costs are normally split up between employees (and their family) and non-employees (e.g.,...


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Increased scrutiny of home office claims

November 10, 2018

Last year, 6.7 million taxpayers claimed a record $7.9 billion in deductions for ‘other work-related expenses’, which includes home office expenses. Reportedly, due to a high number of mistakes, errors and questionable claims for home office expenses, the ATO has recently advised that it will be increasing attention, scrutiny and education on these claims this...


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Kothes ADVANTAGE: October 2018

October 29, 2018

Another month has gone quickly and it’s not long until Christmas! In the Bega Valley we are enjoying a greener landscape thanks to some recent rain, and we hope that continues, particularly for our farming community. If you are thinking about making a major business decision right now, one of our chartered accountants Andrew Blaxter...


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Kothes Advantage September 2018

September 25, 2018

Spring is here with the promise of some warmer weather which we hope will become the norm soon! Thankfully we have been fortunate to have some rain, which lifts spirits and helps ease the pressure on fire-fighters at the Yankees Gap fire and on farmers who are experiencing tough times during drought. Speaking of fires,...


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Kothes donates to fire Mayoral Appeal

September 18, 2018

Bega Valley Shire Council Mayor Cr Kristy McBain visited Kothes to say a personal thankyou for Kothes Accounting Group’s donation to the Mayoral Appeal for Tathra and Reedy Swamp Fires. Over morning tea in the Kothes Bega office, Cr McBain chatted to Kothes staff about what stage the Appeal was at and future plans of...


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Game of Phones: 5 top apps

September 3, 2018

We check our phones about 85 times a day. Chances are, you’re reading this on one right now – or it won’t be long till you check it again. A staggering 70% of internet traffic now comes from mobile devices. For any small business owners, rather than a distraction, the smartphone is now their secret...


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5 most common Tax Time mistakes

September 3, 2018

As Tax Time 2018 has ‘kicked off’, the ATO has profiled the five most common mistakes they see, including taxpayers who are: Leaving out some of their income (e.g., forgetting a temp or cash job, capital gains on cryptocurrency, or money earned from the sharing economy). Claiming deductions for personal expenses (e.g., home to work...


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