Inventory is a just fancy word for stock - think products, things, physical stuff you sell to your customers. 

There are three main types of inventory. 

1. Merchandise/products that you’re reselling (i.e. buy it from someone, sell to someone else), 
2. Products you sell as a part...

I know some of us love the ‘silly season’ and can’t wait to see friends and family, and exchange gifts - and I also know others might have uncomfortable histories with the holidays. You might love the pageantry of it all or hate the capitalist pressure of buying...

What is super?

‘Super’ is just short for superannuation. You can get more information on super in our blog if you need. 

What has changed?

There are a few changes effective from 1 July 2022, but there are two key changes relevant to our clients:

1. The amount of the super...

It’s that good, we have to tax it. 

GST means goods and services tax. It's a 10% tax applied to most products and services in Australia. This is a tax that is designed to tax the end consumer. It’s almost like when you register for GST you work for the ATO, because you start...

 This is me! Maybe it’s also you? 

There are so many beautifully unique people coming to Adelaide each year for the Adelaide Fringe; performers, producers and support crew from all over the world. Hopefully you make some money while here, but what happens when it comes to tax?

...

 Everyone has a Tax File Number (TFN), and some have an Australian Company Number (ACN) or Australian Business Number (ABN) but now some people are also going to need a Director ID Number. So many ways to identify you!

WHAT

This is a new thing, launched 1 November 2021. It will be a...

Is the ‘Australian Dream’ of buying a house a dream of yours?

It doesn’t have to be. Your goals and dreams need to be aligned with your values and with your vision of your unique life. You do not have to buy a house. You can invest in your future in other ways. But, if...

Ever wondered what that sneaky ‘2% medicare levy’ thing means in your tax return?

When you are looking at the individual marginal tax rates (being the rates at which you get taxed as an individual or sole trader), it states under the box “the above rates do not include the...

Thinking of owning an investment/rental property or maybe you already own one but you’re not sure about the treatment of transactions when it comes to tax time? Well, this one’s for you!

What do we mean by ‘rental property’?

A rental (or investment) property is basically a...

Covid-19 and all these lockdowns are exhausting, we know. While we are super grateful we can work from home and look after you, we understand that for many of you work has been cancelled. The arts, tourism and hospitality seem to be hit the worst, and over and over. Most of our clients are small...