Blog

We have been busy the past few months looking at better ways to manage our workflows and communicate with our clients.  So we are very excited with our latest addition, Karbon which brings another layer of connectivity between us and our clients.

Working from home as a contractor sounds like the ultimate dream for anyone who is sick and tired of the rat race, but be cautious as contractors still have more than their fair share of challenges. In fact, perhaps the most important challenge they face is their ability to be fully responsible and accountable to themselves, at the same time being wholly responsible for their own financial management.

Since the weekend all ATO systems have been offline as the ATO suffers a "World First" system failure for a government tax authority.  Apparently the hardware supplied and supported by Hewlett Packard has crashed as well as their backup systems.

A new opportunity for small businesses has arisen in Queensland with the release of  the ‘Small Business Digital Grants Program’, which will provide funding for small businesses to assist in growing their business through the use of digital marketing technologies and services to enable them to work smarter and make the most of online business opportunities arising from digital disruption.

XO Accounting was recently in the news in regards to the construction at our Melton Office.

Please note from June through to October the Melton Council is rejuvenating the area out the front of the Melton office which has resulted in Palmerston Street being closed and much of the area fenced off.  Here is a MAP for our clients to find there way into the office.  If you have any problems simply give us a call and we can assist.

The words ‘personal brand’ are still somewhat controversial, and carry an unfortunate cast of self-promotion and vanity. The truth is that personal branding is more important than ever in the job market, and those without a clear personal brand or mission to create one are lagging behind the competition.

Case study: for $35 per week, you could own an investment property too

Owning an investment property can be far more affordable for potential investors than they think, particularly when they claim all of the tax deductions available to them.

To explain how claiming these deductions can assist an investor to purchase a property, let’s examine the situation of two average Australian taxpayers; John who feels he currently is unable to afford an investment property and Lisa, who owns one investment property.

Tax fraud is one of the quickest growing areas for scams which tax payers need to be aware and protect themselves against. One such scam which I have experienced many times is where the scammers call you claiming to be from the ATO and advise you that you have an outstanding debt.  After making threats of investigations, charges and even jail they demand payment immediately for the debt.

Ever since Budget Night on the 12 May 2015 any small business with turnover of less than $2,000,000 was able to purchase assets up to the value of $20,000 and get an immediate tax deduction for them rather than having to write them down over an extended period.  Many business owners have forgotten this benefit is still open to them until 30 June 2017.