As a part of normal business operations, the cost of handover and training new staff always seems unavoidable. It can cost a business owner losing an entire month profit if it goes to the wrong direction. Here are some ideas that maybe helpful to smooth this process instead of costing you an arm and leg. … More 5 Things Should Never Be Overlooked during a Staff Handover
Under the current lockdowns, businesses embracing e-commerce are thriving. Many small businesses try to catch the opportunities and set up online shops using Paypal, Shopify, Ebay, Kickstarter and Amazon. The last thing you want to ignore is the tax implications and set up the GST correctly on these apps. If you sell goods and service … More 6 GST Setting Tips in Shopify
How long do we have to live with the unpredictable lockdowns and cancellations due to the pandemic? I am afraid the answer is quite a while. As your accountant, we need to know the economy environment and trading conditions to help your business. Although we don’t have the crystal ball, neither are we any expert … More There is No Return
We found ourselves recently explain one topic too much – The first home super saver scheme (FHSSS). It is the best that it is put down in the following order for you to start taking actions and take advantage of it. Understand if you are eligible. Go to this page and have a brief read … More 9 Suggested Steps of First Home Super Saver Scheme
Registrations are open for the JobMaker Hiring Credit scheme. The Australian government scheme is to provide eligible employers an incentive to employ additional employees aged between 16 – 35 years old. It is available to eligible employers for each new job created between 7 October 2020 and 6 October 2021 for which they employ an … More JobMaker Hiring Credit scheme
As we approach the tail end of what has been an unprecedented and disruptive 2020 year with the Covid-19 pandemic, this article is for you to ensure your emotional mindset as a business owner is doing good more than harm. Often what holds us back is whether you have an abundant mindset or poverty mindset. … More Manifesting an Abundant Mindset
Tune in to what Meng from MyC Accountants had to say about the recent Australian Federal Budget 2020-2021. Click here to view the budget highlights video.
Nowadays, networking plays an important role among the business. Today we are going to introduce five tips for the networking. Have a plan A successful networking needs a good plan in advance. Before join in the networking, you should ask yourself a few questions: what result you want to achieve? What value you can … More 5 Tips to help in networking
ATO when assessing tax payers’ activities use a set of guidelines which are generally in the form of questionnaire worksheets. There are two types of worksheets: a short answer one and a detailed one. The questions are related to the living expenses of the household. The uses of the worksheets include: Review the accuracy and … More 4 uses of ATO worksheets
Gifts provided to employees or associates will be subject to FBT as it constitutes a property fringe benefit. Gifts provided to clients can be deductible under s8-1 ITAA97 as long as its not capital in nature. If a gift is given to a client for personal reasons or is of private or domestic Deduction would … More Four ways gifts can have different tax outcomes
