Darcy Bookkeeping & Business Services' very own tax accountant Brad Reynolds recently appeared on the Your Number Man podcast. He shared his expertise with guiding small businesses with their tax structures and tax accounting best practices. In this episode, learn about business structures (like sole traders, partnerships and incorporated companies), GST, maximising tax structures and […]

Use our free Australian GST calculator tool to work out the amount of GST that must be applied in your transactions. Want to know how to calculate GST on the go? Read on for the easy formula. GST Calculator Enter Amount: Add GST Subtract GST Total GST: Copy result Amount + GST: Copy result In […]

Everything Australian directors need to know about borrowing from their company. Division 7A compliance, documentation & tax treatment explained.

In this article, we’re going to be taking a look at the difference between cash and accrual accounting. We’ll cover the pros and cons of the two methods, and by the end of this article, you should have a clearer view of whether cash or accrual accounting best suits your needs. The main difference between […]

Tax planning is a legitimate way to try to reduce the amount of tax you pay and increase your tax deductions by making use of investments, tax exemptions, rebates and benefits as much as possible. Tax planning is not the same as tax avoidance. Tax avoidance involves the deliberate exploitation of the tax and superannuation […]

Cryptocurrency is virtual or digital money that takes the form of tokens or “coins.” Transactions are generally carried out virtually independently of a central bank, central authority or government. Cryptocurrencies such as Bitcoin can be used to purchase goods in the real world. As cryptocurrencies are becoming more mainstream, governments around the world are now […]

Unfortunately, due to Covid-19, many businesses have struggled to stay afloat. Business owners have struggled to pay staff, suppliers, and general running costs such as rent and electricity. One area which is not focussed on as often is tax debt. Owing money to the Australian Tax Office (ATO) can happen at any time, but it […]

There are numerous types of business structures and it can be difficult to figure out which one to choose when you are starting your business or expanding it. Your choice will depend on the size, type, and needs of your business and how you want to run it.

As a business person, you understand the value of hard work and dedication. Whether you run a small enterprise or a large corporation, you know that your employees are the lifeblood of your business. Without those dedicated people, you would have serious issues filling orders and carrying out day-to-day tasks. That’s why it’s important to […]

These are exciting times. You are just about ready to open your new business. You’ve been busy setting up all of the systems that you need for your business to work - including the bookkeeping. This is where many owners succumb to pitfalls while setting up their business. Because there are many forms to file […]