Should I have Audit Insurance?

Should I have Audit Insurance?

by Jeff Banks

Audit Insurance is a personal choice. However it will prevent any nasty little surprises should the ATO decide to look at your records. Such an exercise will incur a cost. Listen to Jeff’s explanation and recommendation on Audit Insurance. For further information, please contact…

PSI – Personal Services Income

by Jeff Banks

PSI – Personal Services Income

If you derive your income from your personal services or labour, deductions that you can claim may be limited. To find out whether PSI Legislation applies to you, please contact us on 1300 792 874.

Cash Basis or Accruals Basis

by Jeff Banks

Jeff explains the difference between Cash and Accruals basis and which one may be best for your company. For further advice and help in adopting either a cash or accruals basis, please contact us on 1300 792 874.

When is my December BAS due?

by Jeff Banks

Listen to Jeff speak about the extra extension provided by ATO during this Holiday Season for your BAS and Tax Return. However there will be no further extension that is usually accorded to us as tax agent for this period. We look forward to…

Welcome to 2015

by Jeff Banks

Welcome to 2015

There will be a couple of changes in how we do our tidbits and your access to our website. It will be easier to access answers to your questions in regards to your tax and business within the tidbits.  Listen to…

Are my gifts tax deductible?

by Jeff Banks

Are my gifts tax deductible?

Gifts to clients and staff need evidence to support your claim if used as deduction in Tax Returns. Potentially receipts are not enough. Listen to Jeff speak in detail in regards to this topic. Please contact us at Banks…

Spreading Some Christmas Cheer

by Jeff Banks

Spreading Some Christmas Cheer

Wishing you all a very happy and very safe Christmas and New Year. We will be closed between Christmas and New Year. We will open Monday 5 January 2015 to look after our clients and service your needs. Listen to Jeff’s…

When do I need to do my December BAS?

by Jeff Banks

When do I need to do my December BAS?

ATO in its wisdom has extended their normal dateline for the December Quarterly BAS to 28 February for clients who do their own BAS. Listen to Jeff speak further on the December BAS, Contact us at…

Networking v.s. Entertainment

by Jeff Banks

Entertainment expenses are not deductible while networking expenses are deductible under the income tax assessment act.  Listen to Jeff on today’s tidbit video and contact us at Banks Consultancy to let us help you differentiate and claim it correctly in your tax return.

Are life insurance premiums a tax deduction?

by Jeff Banks

Life insurance premiums are generally not a tax deduction. Listen to Jeff on the video for the different methods you are able use to turn it as a tax deductible item. Contact us at Banks Consultancy 1300 792 874 for us to guide you…