Major software companies charge hundreds of dollars for their complicated accounting systems, which in most cases are way beyond the needs of most small businesses. Wouldn't it be nice if there was a simple cheap alternative to the major accounting software companies, at a mere $16.50 (Inc GST) I believe this spreadsheet is a great alternative. This GST Spreadsheet is designed for a small business operating on a cash basis, as it helps to keep track of the GST collected and paid for each quarter as well as income and expenses for the end of year tax return.
The problem is, that most rental property owners are missing out on thousands of dollars worth of tax deductions, by not having a professionally prepared depreciation schedule for their investment property. This is when a qualified Quantitative Surveyor comes in to play, as they are able to visit your property and create a depreciation schedule based on their expert knowledge. This depreciation schedule is the used by your accountant to legitimately claim depreciation as an expense against your rental property.
If your family’s adjusted taxable income for this financial year is $48,837 or less, your payment will not be affected by the income test. In most cases, your Family Tax Benefit Part A payment is worked out using two income tests. We will apply the test that gives you the highest rate of payment. The first test reduces the maximum rate of Family Tax Benefit Part A by 20 cents for each dollar above $48,837 until your payment reaches the base rate of Family Tax Benefit Part A.
Established in June 1996, Registered Tax Agents and Accountants, Highland Accounting Services are located in Adelaide's north eastern suburb of Gilles Plains. We specialise in preparing income tax returns, giving small business advice, rental property advice, GST advice and the preparation of business and installment activity statements. We are a small Tax Accounting practice consisting of a full time accountants plus receptionist, our aim is to provide a friendly service at a reasonable cost. We pride ourselves at being accessible to our clients.