Year: 2015

Xero Promotion

Xero Logo

For those of you out there thinking about using Xero to maintain your financial affairs, have yourself an early Christmas! Until 24 December, we have a special promo code to offer Cake Accounting clients 25% off the regular price of a Xero subscription for twelve months. That is a saving of $150 if you sign […]

Cake Accounting – Where Did We Go?

Readers may have noticed that the posting here has been a little light in the last few months. The reasons for the light posting are outlined below, but, we never went far, and are back. More than ever, looking forward to providing our clients with the best service in the tax, accounting and advisory spheres […]

Structures Part 2, Companies & Trusts

This is part two of our series covering business structures. Part one covers individuals and partnerships and this part considers companies and trusts. While the usual requirements when carrying on a business are constant, each of these structure have different characteristics and taxation treatment. It can be costly to change business structures, so it is […]

ATO Introduces myDeductions Tool

This week the ATO has introduced a new tool in their mobile phone app called myDeductions. This app is available for most smartphones, including Android, Apple and Windows Phones. According to the ATO, this tool makes it easier for individuals to keep deduction records, and will allow this information to uploaded and included in your […]

ATO Updates View (Changes Mind) on Everett Assignments

As part of the ATO’s focus on the taxation of professional firms, started with the release of TA2013/3, the ATO has updated their view on the tax effectiveness of Everett assignments. The term ‘Everett assignment’ is used to describe an agreement where a partner in a partnership assigns their entitlement to some or all of […]

2015 Trust Distributions – Getting it Right

As we approach the end of the financial year there is plenty of advice on things that should be done to get a better tax result, ranging from buying a new car to getting health insurance. Note that I didn’t say all the advice was credible, nor should be followed. There are some important things […]

Structures Part 1, Sole Traders & Partnerships

This is part one of a two part series on structuring a business in Australia. When carrying on a business, there are generally four structures that can be chosen: An Individual (Sole Trader) A Partnership A Company A Trust This part will cover individuals and partnerships and part two will cover companies and trusts. While […]

2015 Federal Budget

Last night Joe Hockey delivered the Abbott Government’s second budget. As there is no shortage of commentary on the politics of the budget, we have focused on taxation and related changes within the budget and their impact of this budget on small businesses, individuals and families. There are other announcements, including some that will impact […]

New Website Goes Live

We are delighted to present our new website. This is the place we will share tax developments that are relevant to individuals, families and small businesses, as well as other interesting tips along the way. To mark the launch of our new website, we are also starting our promotion for 2015 individual tax returns. If […]