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Registration by TPB Australian tax practitioners must be registered by the Tax Practitioners Board (TPB) to ensure they meet certain standards and requirement...

Budget vs. Forecast Budgeting serves as the foundation for financial planning. By creating a detailed budget, small business owners can anticipate revenues, i...

The ATO agent nomination process

Accountant's role under current economy Accountants play a critical role in assisting small businesses facing current economic challenges. This is highlighted by the impact of o...

Your September quarter superannuation guarantee contribution is due soon

Can business automation streamline your business?

Your business may be selected for ATO’s PAYG withholding compliance test

Your September quarter activity statement is due soon

Small Business Instant Asset Write-Off This Financial Year

How much should you pay yourself?

Plain English guide to cashflowPositive cashflow is the beating heart of your business. Dive into our Plain English guide to cashflow and find out how to get in complete control of your cash position. #tax #accounting #businesstips #cashflow

Understanding Your Profit and Loss StatementWould you like to know more about the relationship between costs and revenue to make better business decisions? Book a session today to examine your financial reports with our experienced business advisors.

Can ChatGPT replace your marketing team?Can ChatGPT replace your marketing team? The short answer is no, but AI content writing can be a great productivity tool for any small business. We’ve got some tips. #businessadvice #SmallBusiness #ChatGPT #AI

5 vital things to set up before you pass awayThinking about end-of-life planning might sound morbid. But by planning ahead, you remove the worry and hassle for your loved ones and secure your long-term legacy. #businessadvice #SmallBusiness #endoflifeplanning #estateplanning

Go walking: keep you and your business healthyHow many business hours do you spend sitting in front of a screen? Why not book a walking meeting with us and start focusing on your own health as well as your business health. #businessadvice #wellbeing

2023 Federal Budget HighlightsHere are the highlights from the 2023 Federal Budget, handed down by Treasurer Jim Chalmers on 9 May 2023.

Avoid ATO’S increased tax penalties – reminders and updatesWith the ATO shifting its focus on taxpayers with outstanding tax lodgments and debts, find out how to avoid being penalised at the increased penalty rates in 2023–24. #tax #businessadvice

Why Your Business Needs Online Timesheets | XeroOnline timesheets and staff scheduling apps will help you run a far more cost-effective business. See all the ways it can save time and reduce costs.

Tax Tips for Property Investors 2023Are you making the most out of your investment property? Getting the income and allowable tax deductions right can be complex. We’ll help sort out the details so you’re claiming all you can. Talk to us today to maximise your 2023 tax return.

Your upcoming tax calendar for July and AugustWith the start of the new tax year upon us, please do not forget about your final tax obligations for 2023. Here is a list of key tax dates for July and August 2023.

Do you need to improve the cash flow position for your business?Turning a profit is at the heart of running any successful company - But without cash flow, you can't run your day-to-day operations or grow the business. Talk to us about how you can increase cash flow in your business. #businessadvice #cashflow

Which business expenses can you claim against tax?Want to cut your business costs? We’ve highlighted the business expenses that can (and cannot) be claimed against your ATO tax bill. #tax #expenses #taxreliefs

Tax Tips for Individuals 2023Are you making the most of allowable tax deductions? Individuals can claim for general work-related expenses as well as occupation-specific expenses and working from home. Book a time to prepare for your 2023 tax. We’ll help maximise your return.

Temporary full expensing is due to end soon – your tax deduction guideAs the end of the financial year approaches, the temporary full expensing rules will be coming to an end. Considering this, we explore the options that are now available for small and medium businesses to optimise their tax deductions.

Get Your Business Records Ready for Your Tax Return 2023Organising your end-of-financial year documents now means you can get your tax completed earlier and maximise your return. Book a your tax return appointment now and rest easy knowing it’s under control.

Tax Tips for small businesses 2023Are you claiming business tax deductions correctly? We’ll check eligibility for concessions, offsets, incentives, rebates, and verify taxable income and expenses – so you won’t pay more tax than you need to! Talk to us and we’ll help make tax time easy.

ATO’s crackdown on residential investment property loans and tax compliance The ATO has announced the commencement of a new data matching program for property investors which involves obtaining data from various financial institutions. Among other things, the information collected will include loan details and borrowing costs.

Why your accountant is the mentor you didn’t know you neededLooking for someone to guide your entrepreneurial journey? Your accountant could be the mentor you didn’t know you needed. #businessadvice #SmallBusiness #mentoring

3 cloud accounting tips to save your business time and moneyAccounting tasks don’t have to eat into your business time. With the right cloud accounting software, you can save time and money – while also getting tighter control over your finances. #accounting #software #finance

Your Fringe Benefits Tax Return is due soonGet ready now for your fringe benefits tax return. FBT is not always straightforward, and there are new rules this year! Talk to us about your FBT calculations and lodgement to make sure you are receiving eligible concessions and exemptions.

Your March quarter superannuation guarantee contribution is due soonReview your superannuation reports now for your quarterly superannuation guarantee contribution. Need help? We can assist with reviewing your super setup or preparing the lodgement. #smallbiz

Your March quarter activity statement is due soonYour March quarter activity statement is due soon. We can help prepare your BAS or review your business accounting systems to make your activity statement lodgement easy, accurate and efficient. #businesssystems #smallbiz

Your monthly activity statement (BAS) is due on the 21stGet your books in order now for your monthly activity statement due on the 21st. We can help make sure you are ready for lodgement day. Talk to us. #smallbusiness

Cash flow forecasting puts you back in controlBeing in control of your cashflow has never been more important. We’ll help you set up detailed cashflow forecasting to put you back in the cashflow driving seat. #cashflow

Your upcoming tax calendar for April and MayAs we move into the business end of tax planning for 2023, here is a list of key tax dates for April and May 2023. Be aware of your upcoming tax obligations here.

Have you taken an Odometer Reading for FBT?Remember to take an odometer reading for the fringe benefit tax period ending March 31st. #FringeBenefitTax

New Family Trust Tax Rules – Will the Changes Impact You?With the ATO’s new directives on the taxation of trust distributions, it's essential to review arrangements. Book a planning session to ensure you've got the best beneficiary arrangements.

Managing your marketing budget to improve your ROIDo you know what your business is spending on marketing? Or what ROI this money is delivering? We’ve got some top tips for controlling your marketing budget. #marketing

5 ways to get in control of your business finances We’ve got 5 simple ways to get more from your finances – by embracing the latest in digital accounting and finance apps. #finance #business

Budgets are boring – 5 ways to spend less without budgetingDo you find budgets boring? 5 ways to cut back on your personal spending without having to track every transaction.

The four-day week is gaining momentum – could it boost your business?Evidence is mounting for the success of the four-day week – high productivity, happier team members and lower overheads. But there are some downsides, too. Could a four-day week boost your business? What are the pros and cons.

Your upcoming tax calendar for February and MarchWelcome to 2023! To help you understand your tax obligations as you get back into the swing of things, here is a list of key tax dates for February and March 2023.

Understanding Your Breakeven PointDo you know your business breakeven point? Knowing how much income you must generate to cover all fixed and variable costs means you can make better business plans and financial decisions for long-term sustainability and profit.

New accountability measures proposed for ABN holdersABN holders will now be required to be more accountable and comply with income tax return obligations in order to keep their registration.

Business plant and equipment: Buy or lease?Buying vs leasing – which one is best for business equipment and plant? How can you figure out the best choice for your situation?

What's the difference between financial accounting and management accounting?Do you know the difference between a financial and management accountant? If you’re keen to grow, switching to the benefits of management accounting could have a huge impact on your future destiny. #accounting #managementaccounting #beancounter

Your Q3 2023 Deadlines for the DiaryThe ATO lets us have a little more time for December lodgments, but you’ll still need to plan for paying your BAS and super soon! Talk to us about getting organised for the first ATO lodgments and payments of 2023 and make the start of the year easy.

When Should International Businesses Register for Australian Goods and Services Tax?Does your business make sales of products or services in Australia more than AUD $75k? If so, you may need to charge Australian goods and services tax on sales. We can help work out if you need to register and report to the Australian Taxation Office.

Your December quarter superannuation guarantee contribution is due soonReview your superannuation reports now for your quarterly superannuation guarantee contribution, which is due soon. We can help with your super set-up and prepare the SG contribution and SuperStream lodgement. #tax #smallbusiness

The benefits of engaging a BAS Agent for your businessDo you spend too much time on your accounts? It could be time to engage the services of a BAS agent to help you with bookkeeping and ATO reporting. We’d love to talk about how we can help save you time and money. Let's talk.

Taxation from different cultures' perspective Last week we met a prospect client who was referred to us by a local business. The meeting wasn’t successful because of the ...

Holistic Growth What a year it has been for us at Total Wise ! It has been a year of growth and stability in many ways. We are excited to have a son in l...

What does Obama have to do with Stairway to Heaven? I am amongst those who don’t much follow the lyrics of songs and mostly enjoy the harmony of instruments and the the combination of sound...

Christmas 2015 On 19 th of December, after months of planning with a group of fantastic people from our local church, we helped with a Christmas party ev...

The First Thanksgiving My late father in-law, rest in peace, often used to say few times a day “thank you God”. Sometimes my mother in law would comment compli...

Praxis Open Night On Friday 23rd of October 2015 Total Wise attended the 'Praxis Open Night' event. The purpose of our visit was to reconnect with our clien...

robbing Peter to pay Paul According to Wiktionary the expression of robbing Peter to pay Paul refers to times before the Reformation when Church taxes had to be p...

Sydney Road jewellery business hub Sydney Road is one of the many iconic multicultural melting pots of Melbourne. It stretches for 24km from northern end of Royal Parade to...

Xero Uni Day 2015 On 12th of August 2015, XERO UNI DAY was conducted in Crown Promenade Melbourne. There were three workshop streams being held on the day ...

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