New Directions

New Directions

by Jeff Banks

We are changing the direction in our format to put in the little extra that we do for our clients. We aim to provide information that you want, on Tax, Accounting and even Business. Please direct any queries that you have by leaving your…

Jeff Banks Blog 29 August – Be a Business Person not just in Business

by Jeff Banks

QUOTE OF THE WEEK

This week I thought I would head back into the realms of fantasy and fantasy movies and take a quote from the 1984 movie The NeverEnding Story:

“Confronted with their true selves, most men run away screaming”

So why would this quote be relevant to a blog that…

Intention

by Jeff Banks

In Tax, intention can make a difference on areas such as Capital Gain Tax, payment of tax, how you are assessed as well as claimable deductions. It is about making sure that what we think, is what the evidence shows and what we report…

Jeff Banks Blog – 22 August There is More to just being in Business

by Jeff Banks

QUOTE OF THE WEEK

It’s been a tough week with the BAS deadline (accountants version) fast approaching and coupled with all the business tax returns that entails there are also a myriad of normal tax returns of need to be done at this time. In the midst of this avalanche…

Personal Services Income

by Jeff Banks

If you are a contractor and have been working with the same person or business all the time and you fail the 80/20 rule, ATO will take your business activities and quarantine them in the Personal Services Income (PSI) legislation.  If you are categorised…

Jeff Banks Blog 15 August – Playing the Tax Game

by Jeff Banks

QUOTE OF THE WEEK

It’s that time of the year where the ordinary worker (and business people too of course) think “I need to lodge my tax return”. If, as we here at Banks Consultancy have been advocating (at least for business people) , that adequate planning would make this…

Meal Allowances

by Jeff Banks

In order to claim meal allowances, you need to be mindful of a couple of rules. First, you need to know that you have meal allowance  listed in your group certificate  or that you have travelled away from home for more than 6 days…

Is my car deductible?

by Jeff Banks

Is my car deductible?

The car itself is not deductible even though you use it for work. The expenses for the running of the car might be deductible and requires evidence to back up the claim. One of the documented evidence we can use…

It’s BAS time!

by Jeff Banks

Your June BAS is due for lodgement today! As tax accountants we get an extension. This is a very important BAS period as we can adjust for the mistakes made for the past three periods. All the four BAS must equal the tax return….

Jeff Banks Business Blueprint Entrepreneur of the Year Award Presentation

by Jeff Banks

Asked by Business Blueprint to submit an entry for the Entrepreneur of the Year Award we employed family members to film and produce the entry. The video made the final list of 7 entries for the awards night. Although we did not win the presentation proved most entertaining as…