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Property
As the year ends and the relaxation, fun and family time of the Christmas and New Year’s comes knocking, it’s time to reflect back on what a year it’s been. This year has really shown the purpose and gratefulness we have of our homes, mainly of staying home to stop the spread of a global […]
Asset Protection
We protect ourselves and loved ones from the dangers of the world, but what about our money and assets? It’s becoming more important to find ways to protect assets – from business owners to property portfolio developers and individuals who want to ensure their family and own’s wealth. Want to know more about Asset Protection […]
Small Business Accountants
This year has either flashed right past us or dragged on too long, with very little in between. News flash! Christmas is just around the corner, so if you’re in business, it’s time to get on track now to prepare for next month and the new year ahead. So, how can you prepare your business […]
Community
On the 26th October we hosted our first ever RSPCA Cupcake Day. It was such a great way to get together to help raise funds to fight animal cruelty. We had an amazing turn out – with some cute furry friends joining us too. Big THANK YOU to everyone who got their BAKE ON and […]
Small Business Accountants
Australian small business has been hit hard this year, there’s no doubting that. It’s been a flow on effect from challenges in supply chains, consumer behaviour modifications and less in-person and foot traffic in brick and mortar retail shops due to social distancing. Yet amongst all this, there have been triumphs in how many small […]
SMSF
There’s many benefits behind having or starting a self-managed super fund (SMSF). These often revolve around the choice and flexibility of investment options, tax strategies, consolidation of assets and transparency. However, there are risks worth thinking about when it comes to SMSFs which concern their cost-efficiency, the time and effort it takes to maintain them […]
Financial Planning
Retirement, it’s the reward we get for our lifetime of hard work. It’s where we finally get to wind-down, take it slow, smell the roses and perhaps even take up planting them. So, how much money do you need in retirement? Well, the simple answer is…it’s individual and it’s subjective. What is guaranteed though, is […]
Community
A big thank you to the amazing team at the Australian Red Cross Lifeblood Robina Donor Centre for looking after all of us last week. At the start of the year we pledged to save 150 lives! Last week we joined Australian Red Cross Lifeblood for their amazing new campaign called ‘True Colours‘. Make sure […]
News
2020 has presented us all with many challenges, from catastrophic bushfires, to namely the global pandemic COVID-19, which has more specifically, presented a fast evolving, significant challenge, to the Australian and global economy. On Tuesday 6 October, Federal Treasurer Josh Frydenberg handed down his long-awaited 2020-21 Federal Budget. The Budget has been described as an […]
Tax
Using a business vehicle for work is a great tool for those who do consistent work travel and need on-the-road marketing, plus buying one involves some tax benefits too. One of these benefits is getting an up-front tax deduction under the instant asset write-off scheme, or alternatively claiming depreciation under the ordinary depreciation rules. When it […]
COVID-19, Small Business Accountants
From independent grocers to cafe owners, builders to plumbers, marketing agencies to real estate agencies – small businesses are all around us. When COVID-19 happened small businesses struggled more than ever before, with lockdown restrictions and consumer uncertainty. Some even had to shut up shop completely. So, what has the Queensland Government done and what […]
COVID-19, News
On Tuesday 15 September, the Australian Government released the legislative framework for JobKeeper 2.0, which will see the scheme finish up at the end of March 2021. This extension will provide targeted support to those organisations which continue to be significantly impacted by COVID-19. The JobKeeper Payment has been extended From 28 September 2020, eligibility […]
COVID-19, News
Parliament has signed off on a six month extension to the $100 billion JobKeeper scheme, replacing the $1,500 a fortnight payment with a new two-tier payment rate from 28 September 2020. From September 28, the payment will fall to $1,200 a fortnight, followed by a further drop at the beginning of January 2021 to $1,000. […]
Small Business Accountants
How you manage your money can either make or break you as a sole trader or small business. Essentially, if you own a small business, as a sole trader it’s all up to you – there’s no nice, easy payslip from an employer. So, what are some masterful money management tips to harness as a […]
Mortgage Brokering
In the midst of a global health crisis and worldwide economic and financial uncertainty – surely there’s no benefits for the average Australian homeowner or investor, right? When all seems gloomy, in enters the Reserve Bank of Australia’s (RBA), interest rate drop. With a current official cash rate of 0.25% and interest rates well below […]
Tax
The Australian Taxation Office (ATO) has reminded businesses that pay contractors for certain services that they may need to lodge a Taxable Payments Annual Report (TPAR) with the ATO by 28 August 2020. If you’ve paid a tradie or other contractor for building and construction services in the past year, you might need to lodge […]
Women In Business
Teachers to doctors, accountants to small business owners, managers and CEOs – women are not only occupying more and more space in Australian businesses but owning it – both figuratively and literally. Have you ever wondered what a Gold Coast Accountant could do for you, as a woman already in business or dreaming of branching […]
Superannuation
Just a reminder that the Super Guarantee Amnesty is still available until the 7th of September 2020. To take up the amnesty, businesses must come forward and disclose to the ATO before the amnesty expires on 7 September and either pay the unpaid amounts of superannuation in full with interest or put a payment plan […]
SMSF
Now is tax time, the beginning of a brand-new financial year and a fantastic time to look at your accounting and financial options. Perhaps you need help lodging a tax return, tips to save money in the new year or assistance with your superannuation options. If you haven’t heard of a self-managed super fund, that’s […]
News
In today’s meeting The Reserve Bank of Australia kept the cash rate at 0.25% as the country continues to deal with the COVID-19 pandemic. The RBA’s decision to maintain the cash rate comes amid reductions in consumer spending, further falls in house prices and Victoria’s extended lockdown to curb COVID-19 transmission, which has been tipped […]
Financial Planning
Retirement is for pursuing forgotten passions, taking a well-deserved holiday (if that’s what you’re into) and having the time to do what you love. Preparing for retirement and golden years doesn’t have to be a burden and shouldn’t be something to put off. The sooner we plan for our retirement, the more likely we’ll reap […]
COVID-19, News
The Government has announced today it is extending the JobKeeper Payment for six-months, which will see the scheme finish up at the end of March 2021. This extension will provide targeted support to those organisations which continue to be significantly impacted by COVID-19. From 28 September 2020, eligibility for the JobKeeper Payment will be based […]
Tax
Welcome to the New Financial Year – who’d have thought we’d get this far? From financial uncertainty to slashed interest rates, government stimulus packages to mortgage freezes – the 2019/2020 financial year has been quite unlike those before it. Now that we’re smack bang in the middle of one strange year – how can we […]
Estate Planning
Passing on is an unfortunate, yet inevitable final stage in the circle of life. Yet, a testamentary trust as part of estate planning is one small but mighty plan you could put in place, to alleviate potential and further stress for loved ones left behind. What is involved in estate planning, testamentary trusts? What are their […]
Startup
We are very excited to announce the launch of our Crest Accountants: Women in Business Series! Check out the first episode: Top tips when starting a business with our very own Senior Accountant Nicole Amaya. Watch Now! https://www.youtube.com/embed/vnddizI4BJ0
COVID-19, News
The NSW Government is gradually lifting the restrictions on movement and business trading that were designed to reduce the spread of COVID-19. This means some businesses can now reopen. If your small business or not-for-profit organisation has experienced a decline in turnover as a result of COVID-19, you may be eligible for a small business […]
COVID-19, Property
Overview You may be eligible for one or more of the following land tax relief measures: a land tax rebate reducing land tax liabilities by 25% for eligible properties for the 2019-20 assessment year a waiver of the 2% land tax foreign surcharge for foreign entities for the 2019-20 assessment year a 3 month deferral […]
Superannuation
The temporary access to our superannuation funds is aimed to offset the economic stress that COVID-19 is putting Australians through. This means, if you’re eligible, you can apply for an early release of up to $10,000 in the 2019-20 financial year through the myGov website. More super opportunities are available from July 2020, too. However, […]
News
The Queensland Government is extending the Small Business COVID-19 Adaption Grant Program – applications will open on Wednesday 1 July 2020 with grants of up to $10,000 available. As part of Stage 2 of Queensland’s Economic Recovery Strategy – Unite and Recover for Queensland Jobs, up to $100 million is being made available to deliver […]
COVID-19, News
The end of financial year (EOFY) will look very different this year than previous years. Australian small businesses have done it tough in recent months, with forced closures in entertainment, beauty, hospitality, tourism and an overall lack of consumer and business cashflow. While we’re not expected to see the full impacts of economic downturns and […]
News
HomeBuilder scheme offers $25k for home renovations The Federal Government has unveiled its HomeBuilder package, offering a tax free grant of $25,000 to eligible home owners to build or substantially renovate their homes. With the announcement of the latest stimulus package estimated at a total of $680 million, the Government is expecting about 27,000 homeowners or builders […]
Xero
Digital technology has shifted the way people communicate and purchase goods. From staying in touch with long lost friends and relatives across the globe to purchasing items with a few clicks of a button, digital technology and mobile applications (apps) has indeed made life easier. Even more so than communication and online shopping, accounting firms […]
COVID-19
Is your business receiving the Jobkeeper Payment? Read on to find out how to continue staying eligible for the payment. Each month you must complete a business declaration to remain eligible for JobKeeper Payments. You must do this in the first 14 days after the month you are claiming for. Your Accountant can also make […]
COVID-19, Property
The sandy beaches, sunshine and laid-back lifestyle has long made the Gold Coast a tourist hotspot and great place to live. At the start of the year, the forecast for the Gold Coast property market looked very positive. But as we’ve seen both nationally and internationally, predictions of economic strength and even life as we […]
News
Small businesses in Queensland can now apply for grants worth up to $10,000 under a new $100 million support package announced this week by the Queensland Government. The COVID-19 Adaption Grant Program has been developed to assist those small businesses forced into hibernation, to restructure or to significantly change their business operations or move online. Please note the […]
Hospitality
Whether it’s a coffee at the local, a night out with friends or a bite from the cafe near work – hospitality is where smiles are guaranteed, good times shared, and delicious offerings consumed. Sadly, the dine-in hospitality experience has been compromised seemingly overnight and only slowly and carefully emerging again. So, as a hospitality […]
Child Care Services
Our nurses, doctors, Gold Coast Accountants and other essential workers have one thing in common – they were all children once, in need of care and education. The care and education of our children is so important for our future. Even in times (like right now) when the economy is slowing down, and times are […]
News
The outbreak of the coronavirus has impacted people in varying ways on an international scale. It is now more important than ever to actively manage your wellbeing by maintaining routines where possible, connect with family and friends (even if not in person), staying physically active, eating nutritious foods and seeking additional support by contacting professional support as required. […]
Professional Services
From lawyers to architects, engineers to town planners – there’s no denying COVID-19 has affected all professional services in one way or another. It could range from working from home, or reduced hours and income because less people are engaging with your professional services. What’s important is remaining positive and proactive in your business – […]
News
The Australian Government has announced several stimulus initiatives to support sole traders, including the Coronavirus Supplement, the JobSeeker payment, the JobKeeper payment, early access to superannuation and the Instant Asset Write-Off purchase incentive. Summary The Coronavirus Supplement- is an ongoing $550 payment, delivered fortnightly. You should enquire with Centrelink about the relevant income tests that apply to your […]
Construction
Overall, the Australian construction and trade industries haven’t copped the brunt of COVID-19 restrictions…yet. With physical distancing, health checks and mandatory quarantine for travelling construction and trade contractors, tradies and construction workers are generally still allowed to continue building up the economy. When it comes to the Australian construction and trade firms, however, the outlook […]
E-Commence
COVID-19 is affecting businesses big and small, brick and mortar, ecommerce or a mixture of both. While ecommerce should be booming right now, with people stuck at home with more time to online shop than ever, it isn’t the case. Consumers are losing their employment and saving their hard-earned money for essential items, whilst beginning […]
News
The Queensland Government’s $4 billion emergency relief package to support Queenslanders, the business community and the industries has been passed by Parliament tonight. Deputy Premier and Treasurer Jackie Trad said the Appropriation (COVID-19) Bill 2020 provides additional funding of more than $4 billion over two years to protect Queensland during the coronavirus pandemic. The economic […]
COVID-19, News
The Australian Government has passed legislation for the $1,500 per fortnight JobKeeper support payment for eligible employers, sole traders and other business owners amid the coronavirus. Key Action Points Check your eligibility for JobKeeper payments. Note Employers, Sole Traders & Other Business owners (Company Directors/Shareholders and Trust beneficiaries) are all potentially eligible. Employers confirm your eligible […]
News
Fresh new farmer’s market – starts this weekend! EVERY Sunday from 19 April, Markets in the Meadow will host a comprehensive farmer’s market at Aquis Park, Racecourse Road Bundall. 6am-11.30am Racecourse Drive, Surfers Paradise, Gold Coast, Queensland 4217 Free parking Glorious coastal open-air; is there a safer place to shop? Support the local Queensland and […]
News
The Queensland and New South Wales government both recently announced land tax relief for commercial and residential property owners who agree to provide rent relief for tenants affected by COVID-19. The relief includes a 25% rebate of land tax for 2019/20 and a three-month deferral of land tax for 2020/21. Queensland: Eligibility for the land […]
News
During these unprecedented times, we want to keep you informed with the latest news and updates. With the announcement of the Federal Government’s extraordinary $130 billion stimulus package (JobKeeper Payment) on March 30, it now brings the total amount of stimulus to $320 billion – representing 16.4 per cent of annual GDP. Please see below the summary of […]
Financial Planning
COVID-19 has had an unprecedented impact on our economy, but should you be rethinking your super investment strategy now? Read on to find out what you need to know before making any changes. Your Super Investment Strategy Superannuation is a long-term investment and is designed to weather short-term investment market changes. The consensus from experts […]
Startup
The Boosting Female Founders Initiative will provide female founders of startup businesses with government funding to launch and scale their businesses into new domestic and international markets. The Australian Government has announced an $18 million Boosting Female Founders Initiative which will run over three years from 2020-21 to 2022-23. The first round is now open […]
News
The economic impacts of COVID-19 (coronavirus) pose significant challenges for many businesses – many of which are struggling to retain their employees. On Monday the Government announced a $130 billion package to support around 6 million Australian workers. Under the JobKeeper Payment, businesses significantly impacted by the COVID-19 outbreak will be able to access a […]
News
COVID-19 is causing businesses around the world to experience major falls in demand for their products and services. To help your business withstand and recover from the economic impacts of Coronavirus, new measures and other assistance options are now in place to help you. The Queensland Government has opened applications for the $500 million COVID-19 Jobs […]
News
With these unprecedented times of the COVID-19 pandemic, the Federal Government has announced a second economic stimulus package worth $189 billion. But what does this mean for retirees and pensioners? Read on to find out what’s in the Economic Stimulus Package to help retirees and pensioners. Cash payments to lower income households Reduction of pension […]
News
During this unprecedented time, we are continuing to monitor the impacts of COVID-19 (Coronovirus) pandemic. We want to keep you informed with the Federal Government’s latest news and updates. At Crest, our highest priority is the health and well-being of our people, our clients and our community. Our response measures to COVID-19 (Coronavirus) are aligned with the […]
COVID-19, News
RBA has reduced the cash rate to 0.25% 19 March 2020 In an emergency meeting held this afternoon, the Reserve Bank of Australia has delivered a second consecutive cut in less than 3 weeks slashing the cash rate to a new record low of just 0.25 per cent in response to the worldwide COVID-19 (Coronavirus) […]
News
At Crest Accountants, our highest priority is the health and well-being of our people, our clients and our community. Our response measures to COVID-19 (Coronavirus) are aligned with the advice provided by the Australian Government Department of Health. 17 March 2020 Prevention Our people have been advised when in and out side of the workplace […]
Superannuation
Being self-employed has its perks – from flexibility in hours, working from home and taking more control over your income. However, there’s some downsides to self-employment too, in the possibility of irregular income, no sick pay, annual leave or automatic superannuation. When it comes to your future and retirement, being self-employed means you have to […]
News
Exciting News! On Thursday 12 March 2020 Crest Accountants moved into their new office building located at 4 Miami Key, Broadbeach Waters QLD 4218. Since opening for business our clients loyal support has helped us grow, this new premises will provide spacious client meeting rooms and ample designated parking facilities for clients onsite. We look […]
Tax
Operating a business comes with highs and lows, income and expenses and possibly a whole lot of confusion on what’s tax deductible and what’s not. Instead of missing out because of uncertainties, ask your Gold Coast Accountant questions and find out what you really can claim for your small or medium enterprise (SME). Read more […]
Personal
Couples generally (and should) financially plan for their future – from buying a house together, budgeting for a family, and putting money away for their children’s future. But what happens when a family breaks down? How are housing, food, clothing, school costs and other child needs paid for? Nobody really plans for family separations in […]
News
A proprietary limited company structure is one of the most common structures for businesses. It offers a lot of benefits such as concessional tax rates and limited liability. It is often thought that when a company becomes insolvent, then you can simply liquidate the company and walk away from unsecured creditors however this is not […]
News
Technology and its constant progression is great for business and managing business accounting and financial requirements. However, technology is exactly that – always changing, with many online systems becoming outdated. How you access the Australian Taxation Office (ATO) Business Portal is changing from the end of March 2020. Read on to find out more on […]
News
It was such an incredible afternoon at Robina’s Australian Red Cross Lifeblood Donor Centre! Big thank you to the amazing staff who looked after us. Lifeblood team Crest Accountants are very proud to support the Lifeblood campaign which is a life-saving social responsibility program where workplaces, community groups, and universities around Australia unite to save […]
Financial Planning
It’s a well-known fact that having children increases our expenses. When a baby comes along there’s another mouth to feed, a nursery to construct, and clothes, car-seat, change tables and more to buy. Then, when the baby grows into a child and then an adolescent, you still need to support them financially. The next biggest […]
Property
Our family dynamics, lifestyles and the property market aren’t the only trends that have shifted in the 21st century – property owners have, too! Whether you’re a single woman wanting to get your foot on the property ladder, or part of a couple or family – property ownership, including investment properties, is achievable. Read on […]
Startup
Starting a business is exciting, fulfilling and rewarding, among many other things. What it can also be though, is daunting, confusing and difficult. It doesn’t have to be though, with the right professionals by your side. What makes it even easier, is when you have those professionals by your side from the very beginning. One […]
News
More and more women are going into business for themselves. In fact, according to the Australian Bureau of Statistics, women now operate one-third of all Australian small businesses, with a 46% increase in women-led businesses in the past two decades – talk about ‘girl power!’ As this number continues to grow, so does the importance […]
Property
Are you interested in, or currently own a residential commercial property in Australia? Commercial residential properties range from hotels, motels, caravan parks, camping grounds or any other establishments providing similar residential premises. As a general rule, commercial residential properties are subject to GST (goods and services tax). However, there are instances of GST reduction, like […]
News
New Year’s Resolutions – we all make them. Whether we keep them or break them though, that’s another story… Health, relationships and fitness related resolutions seem to be the most common, but what about our business and finances? Shouldn’t we be considering those too? We should! How do we expect our business or financial situation […]
News
Christmas time is when we spend quality time with those who matter most. We do this by giving meaningful presents and celebrating the end of the year. However, it’s also a time where we find ourselves spending more than just time, but a lot of money. Yep, there’s more than one type of hangover occurring […]
News
Do you love Christmas and the holiday season, or would you rather push through your work all year round? Christmas and the holiday season are great for employees to refresh themselves before a brand-new year gets underway and get the chance to be merry with friends and family festivities. But what about your business? How […]
SMSF
In life, there are many things we simply can’t control. So, it’s not surprising that you may want to take control of the things you can. Like your superannuation fund for instance. Many Australians are now taking more control of their superannuation and it’s serving them well. How are they doing this? With a Self-Managed […]
Estate Planning
You’re young, so you probably don’t need a will or plan for your estate yet, right? Wrong. The sooner you get your estate plan in place, the sooner you can continue focusing on your life, building your career and spending quality time with your family, with the peace of mind you deserve. You may also […]
Asset Protection
You’ve worked hard for your assets; your home, business, cars, boat, shares and any other investments you may have, but are they adequately protected? Yes, you may have home and car insurance, but have you actually protected your wealth? These days, we have many things to worry about, and whilst we don’t want to add […]
Rental
Are you a property owner confused about what you can or can’t claim for your rental property? What you may not know, is that deductions are only viable during the time that you rented the property out or it was genuinely available to rent. Essentially, if the property is tenanted or if you’re actively seeking […]
SMSF
Have you received a letter from the ATO about your SMSFs? At the end of August 2019 The Australian Tax Office (ATO) sent letters to approximately 17,700 self-managed super fund (SMSF) trustees and their auditors. Why you received this letter? Under regulation 4.09 of the Superannuation Industry (Supervision) Act (SISA), your current SMSF investment strategies […]
E-Commence
What is an ecommerce business? An ecommerce business is essentially any business that is conducted electronically on the Internet. There’s ecommerce for one-off sellers who want to sell their new and used products online like Gumtree and Facebook marketplace. Then there’s your more niche ecommerce businesses who sell specific items, catering to specific needs. For […]
Property
The Harry Potter books and the telephone are what you may think of when it comes to intellectual property (IP), but did you know that strata buildings can have intellectual property rights too? Intellectual property rights refer to the assignment of property rights through patents, copyrights and trademarks. These property rights allow the holder to […]
News
This October NBCF’s Pink Ribbon Breakfast aims to raise $1.5 million to fund research into the effective prevention, detection and treatment of breast cancer. NBCF is working towards one goal: zero deaths from breast cancer by 2030. As sadly 53 Australians are diagnosed each and every day, more than 3,000 Australians will lose their life […]
Construction
Another year, another changing legislation for the building and construction industry. The new Minimum Financial Requirements (MFR) Regulation for the Queensland Building and Construction Commission (QBCC) licensees came into effect on 1 January 2019. This means you should already be implementing, or at least thinking about how the new legislation should be included in your […]
News
The 2019 Women in Finance Awards are dedicated to recognising the outstanding women shaping and influencing the financial services industry. This year, Crest Accountants very own Senior Accountant Nicole Amaya was nominated for the category ‘Accountant of the Year’ by a fellow colleague. Nicole was nominated due to her exceptional work ethic, commitment and passion […]
Medical
Medical and dental practices are profitable businesses, right? Not necessarily. Having a solid business plan and the right systems and processes in place, can mean the difference between a successful and profitable practice, and an unsuccessful practice with many losses. At Crest Accountants on the Gold Coast, we have spent many years consulting with medical […]
Structure
As a law graduate commencing your brand-new career within the legal community, accounting services and compliance are likely the last things on your mind. But should they be on your mind? The answer is yes. Why? Because lawyers who develop a proactive and strategic approach to their accounting and overall finances, are proven to be […]
Xero
As a restaurant or café owner, it’s likely that you have little free time. What if we told you that you could run your entire restaurant business from your phone? Well, okay, your chefs can’t cook food from your phone, nor can your wait staff virtually greet and serve your customers, but what you can […]
Startup
So, you’ve decided to take the plunge and start your own business. It’s exciting and you can’t wait to start getting customers, hiring staff and watching your business grow. This is all very well and good, but sometimes, amidst all this excitement and hard work, business owners can forget about the many legal risks involved. If you’re […]
Medical
A budget – it’s the key to success for any business. And for a medical practice or business in the allied health industry, it’s no different. Putting together a budget should be an annual exercise, but many medical practices never establish one, or if they do, never look at it again, deeming the entire budget […]
Cashflow
Cashflow. It’s the lifeblood of your business because, let’s face it, without it, you have no business at all. In business, particularly in the early years, cashflow can be really tricky. Tricky to increase and tricky to manage. You have to spend money to make money, this is true, but some businesses shouldn’t be spending […]
Xero
Xero – It’s one of the most popular accounting software packages available, but how do you know if it’s right for your business? With so many different Cloud-based accounting software to choose from nowadays, it’s not an easy choice. At Crest Accountants on the Gold Coast, we are highly experienced in accounting software and are […]
Structure
Do you want your business to grow? If you’re reading this blog, then the answer is likely yes. As a business owner, you know your service inside and out and you’ve likely built your business around your skills, abilities and vision. What you may not know, is that how you structure your business, can be […]
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