22 11, 2018

Cash flow: when sales grow, profit can count for little

Cash flow. A term anyone involved in the world of business is familiar with. And for good reason, too, for rarely do we ever come across a metric that is both valuable and easy for most to understand. Defined simply as the net amount of money being transferred into and out of a business, cash

11 10, 2018

Xerocon 2018 Summary

This year Ashfords sent five attendees to represent the firm at Xerocon in Brisbane. This was an exciting time for the team to meet with a range of different add on software providers within the app marketplace, and network with other professionals and share experiences. The Xerocon experience in Brisbane was actioned packed! Our team

19 09, 2018

Downsizing Contribution to Super

The Federal Government recently announced that, as of 1 July 2018, downsizers aged 65 years or older may opt to contribute proceeds from the sale of their home (up to a total of $300,000 each) toward their super fund(s). Referred to as a downsizer contribution, it is treated as being non-concessional; existing in addition to

11 09, 2018

From the CEO’s Desk: Australian Banks Hike Mortgage Rates

From the CEO’s Desk: Australian Banks Hike Mortgage Rates Be it certain members of the big four banks, or various other lower-tier lenders, the decision to increase variable mortgage interest rates has been prevalent among Australia’s banking industry in mid-2018. As commentators continue to declare the end of Australia’s property boom, how much will these

23 08, 2018

Are Your Travel Expenses Actually Deductible?

Working out what can be claimed as travel deductions is an area many taxpayers find confusing. To obtain a deduction three “golden rules” need to be considered and met: the expense must be spent, and not been reimbursed; it must be work related; and you must be able to substantiate the expenditure. The most common

23 07, 2018

Taxable Payments Annual Reporting: Building & Construction Industry

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If your business primarily operates in the Building and Construction Industry, and makes payments to contractors, you are required to complete and lodge a “Taxable Payments Annual Report (TPAR)’ with the Australian Taxation Office each year. Businesses primarily in the building and construction industry need to report to the ATO the total payments they make

4 07, 2018

Australia as a Foreign Investment Destination – Can it Last?

Over recent decades, Australia has benefitted immensely from society having become increasingly globalized and interconnected. The nation has evolved into a popular destination for foreign direct investment (FDI) – a minimum ownership stake of 10 percent in a foreign-based enterprise – and is now positioned as the world’s eighth largest recipient of inbound FDI, according

13 06, 2018

Why Australia’s Audit Insurance Market Won’t Stop Growing

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The Australian Taxation Office (ATO) and other government revenue agencies continue to be allocated an ever-increasing amount of the federal budget. And so, it is unsurprising to learn that taxpayers – be they businesses, individuals, or Self-Managed Superannuation Funds (SMSFs) – are more likely than ever to become subject to official audits, enquiries, investigations, or