Claiming Car Expenses

The way you claim your car expenses for work-related travel will depend on whether you have a “non-commercial” or “commercial” vehicle. While a non-commercial car can use two methods to claim a tax deduction-the set rate per kilometre method or the logbook method, a commercial vehicle can only use the logbook method. Commercial Vehicles are typically a ute with a […]

Why is my work taking so long?

Tax time is busy for everyone. As your Accountant, we share the same goal as you: getting your work finished in the most efficient manner possible. We envision your tax a bit like building a home. We are the builders, and you are the supplier of our materials. While we can efficiently schedule jobs for […]

Retail Trading on Boxing Day

In 2018, changes to the Retail Trading Act 2008 permit shops to open on Boxing day, however, the shops may only open if they are staffed by employees who have freely elected to work on the day. We have recapped on what this means for you below. What does this mean for Retail Employers? Basically these legislation […]

The Do’s and Don’ts of Christmas Celebrations

With Christmas fast approaching and end of year celebrations near, it is probably time you start thinking about what you want to do for your team. While Christmas parties are a great way to boost staff morale, team building and business growth, it is important to remember that these celebrations are often not a tax-deductible […]

Getting Ready for Tax Time

Here at Palfreyman Chartered Accountants, we understand that getting ready for tax time can be stressful. To help make this easier, here are some tips that will keep you on top of your organisation: 1. Find out what information you need: ask us at the start of each financial year what information you’ll need to collect and […]

When Should I Get My Tax Done?

At Palfreyman Chartered Accountants, we understand that you would like your tax refund as soon as possible. Unfortunately, lodging your tax return before the 21st July can be increase your risk of an audit with the ATO. Below are some reasons why we recommend you wait: 1. Single Touch Pay Roll (STP): while most businesses are now familiar […]

Are you on top of business continuity?

We hope that you and your family are staying safe and well during this difficult time. As business mentors, we know the importance of having a plan for your business. Because of this, we have compiled a list of things you should be considering:  1. Maximise what benefits you receive from the Updated Government Stimulus […]

Being a Responsible Employer

The recent implications of COVID-19, Coronavirus, show us the importance of maintaining workplace cleanliness and hygiene practices. As an employer, these are some of the responsibilities you should be considering: 1. Develop clear and concise workplace policies: it is important that your employees understand how proper hygiene practices can keep the workplace clean and reduce the spread […]

Why We Recommend ReceiptBank

Palfreyman Chartered Accountants is committed to making our clients’ experiences running businesses as smooth as possible. In order to help you simplify your record keeping processes, we offer our clients subscriptions to a smartphone and email application called ReceiptBank. We recommend that our business clients use ReceiptBank as it can help you in the following ways: Recording your […]

The Dangers of Director Positions

Are you currently a director of a company or thinking about taking on a directorship of a company? Did you know you can be personally liable for certain debts of the company? Read on to find out more. If you are, or become, a company director and the company has outstanding PAYG withholding and SGC […]