Blog

Updates & news from The Field Group Accounting

Xero vs. MYOB – Which Accounting Software Is Best For Your Small Business?

Xero vs MYOB – Which accounting software will best suit your business? Accounting software has come a long way over...

Are You Paying Your Staff Correctly? Woolworths $200m Remediation

Woolworths is the latest company to facing a fallout from the underpayment of staff. In what is believed to be...

Can The Tax Office Take Money Out Of Your Account?

You might have seen the recent spate of media freedom advertisements as part of the Your Right to Know campaign....

Vacant Land Deduction Changes Hit ‘Mum & Dad’ Property Developments

Legislation that passed through Parliament last month prevents taxpayers from claiming a deduction for expenses incurred for holding vacant land....

The $11.1bn Small Business Tax Shortfall

Last month, the ATO released statistics showing small business is responsible for 12.5% ($11.1 billion) of the total estimated ‘tax...

Rental Property Expenses – What You Can & Can’t Claim

It’s not uncommon for landlords to be confused about what they can and can’t claim for their rental properties. What...

Are All Your SMSF Eggs In One Basket?

The investment strategies of Self Managed Superannuation Funds (SMSFs) are under scrutiny with the Australian Taxation Office (ATO) contacting 17,700...

ATO Take ‘Gloves Off’ On Overseas Income

Five years ago, the Australian Taxation Office (ATO) offered a penalty amnesty on undisclosed foreign income. Five years on, the...

Why The Government Does Not Want Your Business Accepting Cash Payments Of $10,000 Or More

From 1 January 2020, the Government intends to restrict the value of cash payments a business makes or accepts to...