Blogs & Resources
7 February 2019
Taxation Update - January & February 2019
Please subscribe to our newsletter for our latest taxation update, where the following topics are discussed:1. Division 293 assessments2. Claims for home office…
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26 January 2019
December 2018 quarterly Business Activity Statement (BAS) due date
The December 2018 quarterly Business Activity Statement (BAS) is due for lodgement and payment by February 28th 2019. If you would like to discuss further …
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7 January 2019
Can I claim a lunch with a client as a tax deduction?
Provided the lunch is light and does not contain alcohol the answer is yes.Taxation Ruling IT 2675, states that the more elaborate the lunch becomes the more li…
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16 December 2018
Season's Greetings and Tax Tips
McNamara & Company would like to wish you and your family all the best for the festive season. We would also like to thank you for all of your support…
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15 December 2018
Are gifts to clients / customers tax deductible?
Generally speaking yes. If the gift is designed to:1. Promote and / or advertise your business;2. Generate goodwill between your busin…
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15 December 2018
Can I claim my Christmas party as a tax deduction and what are the fringe benefit tax implications?
Generally speaking, if a party / function is held off the employer's premises and the cost per head is less than $300 the cost will be exempt from Fringe Be…
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4 December 2018
Taxation Update - December 2018
Please subscribe to our newsletter for our latest taxation update, where the following topics are discussed:1. Company loans to shareholders under review2. ATO …
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28 November 2018
When does a Section 52 need to be completed?
A Section 52 – statement by a vendor of a small business, or as it is more commonly known as – a Section 52, is a statement that is required to be c…
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24 November 2018
Does your business’s car get used for private purposes?
During November 2018 the Australian Taxation Office (ATO) will be writing to businesses that have cars registered in their name and have not lodged a Fringe Ben…
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20 November 2018
What is your contribution margin and ratio?
Your contribution margin is what is left after taking your variable costs from your sales / revenue. The contribution margin represents what is left to cov…
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14 November 2018
What is your actual cost per employee?
Calculating your actual cost per employee is more involved than just looking at your Gross Wages, although they do form a large part of it.Other employee costs …
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4 November 2018
What is your Customer Retention Rate?
Knowing to what level you are keeping your current customers, i.e., your customer loyalty is important for a business to be aware of. If you are looking to…
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3 November 2018
Taxation Update - November 2018
Please subscribe to our newsletter for our latest taxation update, where the following topics are discussed:1. Fast-tracking tax cuts for small and medium busin…
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18 October 2018
Have you done your September 2018 quarterly Business Activity Statement (BAS).
The September quarterly Business Activity Statement (BAS) is due for lodgement and payment by the 28th of this month. If you lodge your BAS through a Tax A…
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