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Thread: David's bookkeeping corner.

  1. #211
    Senior Member BSD's Avatar
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    Default Re: David's bookkeeping corner.

    So if I claimed a whole load of stuff and went broke 2 yrs later then retired, WTF happens??
    Quote Originally Posted by glassngrass View Post
    Federal Budget 2015 - SMALL BUSINESS TAX BENEFITS

    Small Business* Tax Write Off
    Effective From / To: 7.30pm 12 May 2015 to 30 June 2017
    Benefit: Immediate tax write off for goods costing up to $20,000
    Limit: There is no limit. Claim a $20,000 car, claim $15,000 of computer equipment, claim $18,000 ultrasound – all in the one tax year = $53,000
    What Can Be Claimed: Equipment, computers, cars, motor bikes, solar panels, carpet, chairs – basically anything used for running your business
    What Cannot Be Claimed: Stock, horticultural plants and in-house software

    Company Tax – Small Business*
    Effective Date 1 July 2015
    Benefit Company tax reduced from 30% to 28.5%
    Unincorporated Businesses Annual 5% tax discount up to a maximum of $1,000
    * Small Business defined as turning over less than $2 million
    Last edited by BSD; 15-05-2015 at 10:40 PM. Reason: spelin

  2. #212
    Senior Member glassngrass's Avatar
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    Default Re: David's bookkeeping corner.

    Quote Originally Posted by BSD View Post
    So if I claimed a whole load of stuff and went broke 2 yrs later then retired, WTF happens??
    You'd have "a whole load of stuff" to pawn
    David
    Mr Sparkle Car Spa

  3. #213
    Senior Member 4 Gardens's Avatar
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    Default Re: David's bookkeeping corner.

    G
    Quote Originally Posted by glassngrass View Post
    Federal Budget 2015 - SMALL BUSINESS TAX BENEFITS

    Small Business* Tax Write Off
    Effective From / To: 7.30pm 12 May 2015 to 30 June 2017
    Benefit: Immediate tax write off for goods costing up to $20,000
    Limit: There is no limit. Claim a $20,000 car, claim $15,000 of computer equipment, claim $18,000 ultrasound – all in the one tax year = $53,000
    What Can Be Claimed: Equipment, computers, cars, motor bikes, solar panels, carpet, chairs – basically anything used for running your business
    What Cannot Be Claimed: Stock, horticultural plants and in-house software

    Company Tax – Small Business*
    Effective Date 1 July 2015
    Benefit Company tax reduced from 30% to 28.5%
    Unincorporated Businesses Annual 5% tax discount up to a maximum of $1,000
    * Small Business defined as turning over less than $2 million
    Thanks for clarifying and putting in terms I can understand

  4. #214
    Member Qld tgc's Avatar
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    Default Re: David's bookkeeping corner.

    Quote Originally Posted by 4 Gardens View Post
    G

    Thanks for clarifying and putting in terms I can understand
    x2. Very helpful

  5. #215
    Senior Member glassngrass's Avatar
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    Default Re: David's bookkeeping corner.

    Quote Originally Posted by glassngrass View Post
    There has been interest and the offer has been taken up by some.
    At this point I cannot keep the offer open beyond the end of June.
    If interested, NOW is a perfect time to act.

    You get the full QBO Plus locked in at that discounted rate FOR LIFE, and a few weeks to get your set up/bank feeds, etc ready for start of new financial year.

    You'll never get this offer again, so don't be shy.
    Oooh..... I been able to secure a hand full of QBO plus subscriptions. If you were considering setting up or changing systems then likely the QBO Plus for $20/month for life (no price increases - ever) then this is worth considering - and the timing is perfect.

    You could have this configured and bank feeds commenced before start of next financial year.

    Get in quick...
    David
    Mr Sparkle Car Spa

  6. #216
    Senior Member steveo's Avatar
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    Default Re: David's bookkeeping corner.

    Just heard an ad on the radio from a tool shop urging tradies to spend up so the 20k goes in your pocket rather than the govt's. If that aint bordering on false advertising I don't know what is.

    1) It hasn't been approved by the senate yet has it? So it may not happen although I doubt they will block it.
    2) Spending 20k doesn't equate to saving 20k. It just means you can depreciate it immediately rather than over X many years. Nothing has really changed. You don't actually save anything especially if you have bugger all income to claim against. If you end up with a negative tax bill, you don't get a refund, it just carries over to the next financial year.

    What could be a saving is Unincorporated Businesses Annual 5% tax discount up to a maximum of $1,000. But I still suspect this is linked to having being registered for GST. The details haven't been released as far as I know and I suppose it won't come out till it gets debated in the senate.

  7. #217
    Senior Member imoww's Avatar
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    Default Re: David's bookkeeping corner.

    does anyone use xero?
    Everything looks good with a haircut.... ɐuıɥɔ ɯoɹɟ pɹɐoqʎǝʞ ɐ ʎnq ı ǝɯıʇ ʇsɐl ǝɥʇ sʇɐɥʇ

  8. #218
    Senior Member glassngrass's Avatar
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    Default Re: David's bookkeeping corner.

    I use Xero for my own records. It is awesome and would be a great choice for you - and so would QBO.

    Compare QBO Plus with Xero. You get much better value with QBO - even more so with the special offer currently thru me
    David
    Mr Sparkle Car Spa

  9. #219
    Senior Member imoww's Avatar
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    Default Re: David's bookkeeping corner.

    Couldnt find a post for this so here goes.
    I had a client today who agreed to pay via bank deposit. All she needed was my mobile number and through the ANZ bank she made the payment into my acct...
    How the hell do the banks know my acct details from my mobile I dont know?
    Everything looks good with a haircut.... ɐuıɥɔ ɯoɹɟ pɹɐoqʎǝʞ ɐ ʎnq ı ǝɯıʇ ʇsɐl ǝɥʇ sʇɐɥʇ

  10. #220
    Senior Member glassngrass's Avatar
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    Default Re: David's bookkeeping corner.

    Quote Originally Posted by imoww View Post
    Couldnt find a post for this so here goes.
    I had a client today who agreed to pay via bank deposit. All she needed was my mobile number and through the ANZ bank she made the payment into my acct...
    How the hell do the banks know my acct details from my mobile I dont know?
    CBA have a similar feature and I used it last year when the EFTPOS machine at a BnB I stayed at was non-functioning.
    She/her bank sends you a URL via SMS text.
    Using your smart phone/tablet or any other internet connected device, YOU use the URL to 'unlock' the receiving end of the transfer and supply your bank details to receive the funds.

    Effectively the URL is like a cash cheque that you bank wherever you like
    David
    Mr Sparkle Car Spa

  11. #221
    Senior Member imoww's Avatar
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    Default Re: David's bookkeeping corner.

    I've looked into it and it's great.
    Like you said, they pay you using your mobile number.
    You get an SMS with a code and reply text with the code. Payment is then
    Made.
    I now set this up with my bank also for free
    Everything looks good with a haircut.... ɐuıɥɔ ɯoɹɟ pɹɐoqʎǝʞ ɐ ʎnq ı ǝɯıʇ ʇsɐl ǝɥʇ sʇɐɥʇ

  12. #222
    Senior Member 4 Gardens's Avatar
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    Default Re: David's bookkeeping corner.

    Technology just keeps moving ahead, it's hard to keep up with it

  13. #223

    Default Re: David's bookkeeping corner.

    Quote Originally Posted by imoww View Post
    I've looked into it and it's great.
    Like you said, they pay you using your mobile number.
    You get an SMS with a code and reply text with the code. Payment is then
    Made.
    I now set this up with my bank also for free

    Which Bank ??

  14. #224
    Senior Member Mow And Go's Avatar
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    Default Re: David's bookkeeping corner.

    id be picking the bank that's using more and more technology and less and less humans lol
    I dont break things ...I just use them beyond their operational limitations
    www.mowandgogardening.com.au

  15. #225

    Default Re: David's bookkeeping corner.

    Quote Originally Posted by Mow And Go View Post
    id be picking the bank that's using more and more technology and less and less humans lol
    You mean the one sending many jobs overseas also!

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