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Small Business Accountants, Tax
Operating a business comes with highs and lows, income and expenses and possibly a whole lot of confusion on what tax deductions for small businesses you can or cannot make. 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 […]
Small Business Accountants, Tax
The end of the financial year is rapidly approaching and it’s time to get your business finances in order. With the cost of doing business increasing in leaps and bounds, it is more important than ever to ensure your tax bill is as low as possible. Here’s how to make sure you are prepared for […]
Business, Small Business Accountants, Structure
If starting a business is scary and exciting, scaling a business is even more so. If you want to establish your legacy by creating jobs for others and building a more financially secure future for your family, scaling from a small operation of a handful of people to a more bonafide company may be the […]
Business Insurance
If your business owns the premises you operate from, or you lease to tenants, building insurance is non-negotiable. Unfortunately, there are some common mistakes that render this type of insurance ineffective. Take a look at the errors people make that can end up being very costly: Under insuring It’s very tempting to save money on […]
Mortgage Broking
Over the past 18 months, Australians have been put under pressure as interest rates reached their highest point in over a decade. After hitting record lows during the pandemic, rates have risen in quick succession as the RBA attempts to bring inflation under control. The current official RBA cash rate is 4.35 per cent (as […]
Debt Restructuring
Small business is a challenging game and even with skilled management and plenty of transactions, there can be factors that cause financial difficulties and debt. In the past, when financial troubles arose, receivership and insolvency were the only options for small businesses. Now, to help your small business overcome financial distress, you may be able […]
Business
The new year is a good opportunity to sit down and review your business plan. It can be easy to create your plan, stick it in a drawer and forget about it but you should really update and review it regularly if you want to keep your business on the right track. Take a quick […]
Business Grants
If your business isn’t actively looking into grant opportunities, you could be leaving money on the table. With 2024 now upon us, there are new grants being announced on a regular basis. Find out how Government business grants work, where to look for them and how to apply. How business grants work in Australia Business […]
Business, Small Business Accountants, Tax
Tax time is approaching and there are ways to minimise your income by putting your money in the right places and spending strategically. Your accountant is your best port of call to legally minimise tax for your personal or business taxes, but here are some tips to get you started. How To Minimise Business Taxes […]
Disaster Assistance, Working Capital
Disaster assistance loans for SEQ small businesses Through the Commonwealth-State Disaster Recovery Funding Arrangements (DRFA), concessional loans have been activated for SEQ businesses impacted by recent severe storms. Small businesses, primary producers and not-for-profits in the Logan, Scenic Rim and Gold Coast local government areas can apply for: Disaster Assistance concessional loans Up to $250,000 for […]
Retirement Planning
As you approach retirement age in Australia, having a Commonwealth Seniors Health Card (CSHC) can give you access to a large number of discounts. So, what is the CSHC, and are you eligible for this benefit? The Commonwealth Seniors Health Card The CSHC is a concession card available for eligible Australian seniors. To meet eligibility, […]
Financial Planning, Superannuation
Superannuation was established to help Australians fund their retirement, but legislation surrounding it is ever evolving. One change that is on the horizon will increase the tax payable for those who have a total super balance (TSB) of more than $3 million. Find out what’s set to happen and how this may affect you. Proposed […]
Business, Cashflow
When you run a business, it’s easy to be so bogged down in day-to-day operations that you can’t take a moment to look up, let alone look to the future. However, if you want your organisation to succeed for the long term, reviewing your performance and creating a cash flow forecast which is updated on […]
Insolvency
When a business is facing insolvency, there are clear processes to follow. One of these relates to the way debts are resolved. It can be tempting for the Directors to quickly distribute funds to creditors who have been waiting for a long time, but this can result in clawbacks and accusations of preferential payments. What […]
Retirement Planning, Uncategorized
There is a lot of terminology to get your head around when you’re preparing to retire. One of these terms is ‘Allocated Pension’. Find out what this is and how it works. What is an Allocated Pension in Australia? An allocated pension is also known as an ‘account-based pension’. It is an income stream that […]
Asset Protection
For the last few years, business owners in Australia have benefited from temporary tax depreciation incentives. However, as of 30th June 2023, the scheme has finished, meaning it will take longer for businesses to claim the cost of buying a vehicle or large piece of equipment. What were the temporary tax depreciation incentives? In March […]
Tax
Retirement means you stop working, but this doesn’t necessarily mean you won’t pay tax. In fact, tax can become slightly more complicated, depending on where your income is coming from. The amount of tax you will pay in retirement depends on a few different factors. Here is an outline to give you an idea of […]
Small Business Accountants
Now more than ever, as an individual or small business, you need to submit accurate information in your tax return. The ATO is now using data matching to cross-check people’s income, and expense claims. What is data matching? According to the ATO, data matching is “a powerful administrative and law enforcement tool.” Data matching works […]
Tax
The Treasurer Jim Chalmers handed down the Federal Budget in May, with a view of reducing cost of living pressures. Titled ‘Stronger Foundations for a Better Future’, the budget includes initiatives that may impact you as a small business owner. Energy costs Firstly, $3 billion is being directed to small businesses and households to deliver […]
Forensic Accounting
Technology has dramatically changed the field of forensic accounting in recent years. With advances in data analytics, artificial intelligence and machine learning, forensic accountants now have powerful tools at their disposal to investigate financial crimes, review financial reports, track down hidden assets and uncover potential fraud. Forensic investigations can cover everything from falsified expense claims […]
Forensic Accounting
Over the years, your business is likely to have a range of accounting requirements. One of these is forensic accounting. Unlike your ‘everyday’ accounting, financial forensics requires more complex investigations. Here’s how a forensic accountant differs from someone who helps manage your tax obligations: What does a Forensic Accountant do? Financial forensics is a specialised […]
Forensic Accounting
Most business owners reach out to their Brisbane accountant regularly for help with forecasting, budgeting and tax planning/preparation, but sometimes a little more help is required in the form of forensic accounting. This more complex type of accounting is needed under a few different circumstances, for example when there are issues around potential financial fraud, […]
Rental
If you’re a property investor, one of the main benefits is being able to claim tax deductions. However, recently the tax department has become concerned about individuals either failing to declare their income related to their investment property or overclaiming on expenses. Because of this, it has introduced the residential investment property loan data-matching program […]
Financial Planning, Retirement Planning
As we approach the end of the financial year, one thing to be aware of if you are over the age of 67 is the work test and how recent changes relating to it might affect your superannuation contributions. Here’s a quick explainer of what the work test is, how it changed in Australia during […]
News
On Friday the 31st of March the entire Crest team all came together for a day of new experiences starting with a very insightful workshop with Ash and Anna from InDefence. We then had a delicious breakfast catered by the wonderful team at Soul Origin Robina and then it was off to Pacific Fair for […]
Tax
When it comes to saving tax a well-organised and proactive approach will get you the best results. This is why attending to your annual taxation planning before 30 June 2023 is crucial. A well-thought-out tax planning meeting will consider a range of factors such as deductions, timing of transactions, structuring and legislative changes. The meeting […]
Estate Planning, Legal Services
There are a few different people who need to be involved when you create your Will. Of course, your partner will be included in discussions, and likely your family. Then you need a lawyer. The other person who should be included is your accountant. Here is why you need an accountant to take a part […]
Community
The Gold Coast Triathlon – Luke Harrop Memorial was held on Sunday 2nd April at Mitchell Park at the Broadwater in Southport. What a day! We had staff members from across all our businesses plus family and friends come together to compete in this year’s Gold Coast Triathlon. We had 5 teams and 2 individual competitors […]
Financial Planning
If you have even a small amount of money to use as a launchpad to financial security, it makes sense to have the help of a financial adviser/planner. This professional can help you explore your options, and more importantly ensure you are on track to achieving your financial goals. However, some people think simply signing […]
News, Small Business Accountants
During the pandemic, people were forced to adapt to working from home to the point where some employers are now struggling to get their teams back to the office. However, being together in the same place at the same time still has its benefits. Here are some reasons why having a hybrid work arrangement with […]
Financial Planning, Retirement Planning
Super exists to help you save for retirement. In Australia, most people let theirs build behind the scenes with the help of contributions from their employers, but there are different ways to top up your super while also minimising the tax you pay. We have put together a list of some of the main ways […]
Construction
If you own a construction business, a recent change to financial reporting requirements may apply to you. Take a look at the details and contact us if you need to know more or update your records. QBCC MFR Requirements The QBCC is the Queensland Building and Construction Commission. It is a statutory body that regulates […]
News, Tax
Every year, the ATO targets people and organisations who are trying to evade their tax obligations or who try to make claims they don’t realise are not valid. The following are target areas for the ATO this year. Sham not-for-profits Some people are setting up fake not-for-profits as a way to avoid paying tax. The […]
Business Grants
The Australian Government are offering government grant funding, from $10,000 and up to $25,000 for businesses to upgrade or replace inefficient equipment to improve their energy efficiency. Eligible projects must be aimed at reducing the energy consumption of your business in Australia and include at least $10,000 in eligible expenditure. The objectives of the program […]
Small Business Accountants
Staff wages are one of the biggest costs involved with running a business and unfortunately managing payroll can be complex. If you have staff on different awards or varying hourly rates, it’s easy to get things wrong. This can come back to haunt you in the form of back pay requirements and fines. What causes […]
Business Protection, Insurance
No business owner likes the thought of being audited. However, the fact is the tax department could come knocking at any stage, to check if your reported revenue and tax claims match up with your business activities. Because an audit is usually unexpected, it’s unlikely you would set aside time or funds in your start-of-year […]
Insurance
It is always recommended that business owners add professional indemnity to their insurance policies so they can protect themselves in the event of a client deciding they have done the wrong thing in some way. Professional indemnity insurance is the best way to make sure a mistake made in your business does not have too […]
Cashflow, Small Business Accountants
If you’re a small business, it’s likely you are constantly feeling the pressure when it comes to cash flow. Often, this is because of the lag between getting a job done and being paid for it, particularly if you are a supplier in the manufacturing, retail trade or construction sector. Some figures recently released from […]
Xero
Let’s talk about Single Touch Payroll updates for Xero, plus some additional updates to the way you and your small business accountant access this popular tool. What is Single Touch Payroll (STP)? Single Touch Payroll refers to the way small businesses report payroll activity to the Australian Tax Office (ATO). Businesses used to report payroll […]
News, Small Business Accountants
Remember when everyone was talking about masks and vaccines? How times change… In 2022, discussions around the water cooler where focused on the cost of living and how lettuce seemingly went from $2 to $10 overnight. That’s not to mention jaw-droppingly high fuel prices and every supplier getting in touch to say they are about […]
Small Business Accountants
Recent upgrades from myGov and the Australian Tax Office mean the process of onboarding employees now requires less paperwork. In the past, a tax file number declaration from a new employee was filled out manually on paper and submitted to the tax office by their employer. Now, the process can be completed digitally. Digital onboarding: […]
Financial Planning, Retirement Planning
Most professional Australians have been building savings through superannuation for almost their entire professional lives and are looking forward to accessing their funds in retirement. However, watching the balance fluctuate during a volatile period in the market can be stressful. At Crest Wealth, we have heard this a lot from individuals and couples who are […]
Medical
Working in the field of medicine has the benefit of delivering steady career opportunities and the potential to build long-term wealth. However, you need to create a strategy and stick with it if you want to build your financial reserves and have the funds you need to enjoy travelling, indulge in your hobbies or retire […]
Cryptocurrency, Tax
If you have been dabbling in the exchange of non-fungible tokens over the last couple of years, you may be wondering how tax applies to your earnings in this area. As with most things, making a profit means paying at least some form of tax. Here’s how tax applies to NFTs in Australia. What are […]
Business Insurance
Have you looked into your business, car and home insurance policy recently? When you’re busy, it’s easy to see insurance as set and forget but as your business or your living situation changes, you do need to review your policies. Why review your insurance Here’s a simple scenario: ‘Carl’ signed up for an insurance policy […]
Financial Planning
Rising costs and unexpected expenses mean most Australians end up with some form of debt at one stage or another. If you have debt in your name, you’re by no means in the minority. Recent figures show Australia has some of the highest household debt in the world, with the average Australian household owing an […]
Cashflow, E-Commence
E-commerce businesses have a lot of moving parts and money is constantly being spent to cover the costs of inventory, packaging, shipping, storage, and staff. Because there are so many ongoing expenses, having clarity around cash flow is essential. Crest Accountants are specialist e-commerce accountants in Australia (we’re based on the Gold Coast, but you […]
Financial Planning, Retirement Planning
Some changes have been introduced in Australia last month which will impact some retirees. If you’re a pensioner or a self-funded retiree, if you have recently retired or if you are approaching retirement age, take a look at the latest information: CSHC Income Threshold changes The Commonwealth Seniors Health Card. CSHC entitles some seniors to […]
Medical
Accountants and dentists do have some things in common… Both complete training so they understand their ‘trade’. Both also have the potential to specialise so they can provide outstanding service in a particular area. Just as you would recommend cosmetic or paediatric dentistry to a client who has a specific requirement, it makes sense as […]
Property
If you have caught the property development bug, you’ll know how fulfilling it can be to recognise the value in a piece of land and transform it into one or more homes that buyers love. However, along with the many challenges of developing new dwellings comes the complexity of legal and tax requirements. You need […]
News, Small Business Accountants
The Queensland Government has announced the open dates for round 4 of the Business Basics Grants for Queensland small businesses. The application process will start with Registrations of Interest (ROI) on Thursday 24 of November, opening at 9am and will close Monday 5 December at 11.59pm. Please note Registrations of Interest are not time sensitive […]
Insurance
If you’re building a home or renovating at the moment, you’re probably feeling the pinch financially. This is because the building and construction industries have been hit hard by the pandemic. Why are building costs rising in Australia? There are a few reasons why construction prices have jumped so dramatically. Firstly, the pandemic stripped Australia […]
News
Have you completed your director ID? Company directors need to get their director identification number (‘director ID’) by 30 November 2022. A director ID is a unique 15‑digit identifier that a company director will apply for once and keep forever. Director IDs are administered by the Australian Business Registry Services (‘ABRS’), which is managed by […]
Business Insurance
As recent events have revealed in Australia, no matter what kind of business you operate and no matter how much revenue you generate, you are at risk of a cyber-attack. The people behind these attacks do not discriminate; they look for ‘openings’ and take them wherever they can, with the help of sophisticated programs that […]
News, Property, Rental
Australians who own investment properties in Queensland as well as other states have just been relieved of the threat of a significant tax hike. The news recently came in that controversial Queensland land tax changes announced a few weeks ago have been scrapped thanks to pressure from other states as well as property owner advocates. […]
SMSF
A self-managed super fund can be a cost-effective and effective way to grow your wealth prior to retirement but if you decide to proceed with this strategy, there are some legal requirements you need to be aware of. Your SMSF must also be maintained for the sole purpose of providing retirement benefits to its members. […]
Financial Planning, Retirement Planning
Retirement is an exciting phase of life when you have more time on your hands and a far more flexible schedule. The challenge of this period can be accommodating your changing health and mobility needs and managing your finances. With both of these in mind, have a look at some of the different options for […]
News, Small Business Accountants, Startup
You may have seen some emails from your website host urging you to claim your .au domain but not had time to read them because you’re busy. The switch to this type of website address is actually worth taking notice of. What is a .au domain? The Australian government recently made it possible to register […]
E-Commence
Are you set to go all in and start a full-time e-commerce business… or thinking about finding out how well you can do from a side hustle? You may be busy thinking about marketing, shipping, branding and all the rest. However, the financial management of your business, no matter how large you want it to […]
Cryptocurrency
Cryptocurrency has delivered the opportunity for many people to explore a new way of investing and boosting their wealth. While it is never certain what the outcome of investing in crypto will be, it is now a widely accepted practice. However, what many people don’t realise is how their success can impact their taxable income. […]
Xero
If you’re a business owner, you will no doubt have heard of Xero. This is a cloud-based platform that allows for real-time updating of accounting information and highly accurate record-keeping. But, why use Xero? Our Gold Coast accounting firm has put together a guide that will help you get to know the benefits of the […]
Business Insurance
Few things are created equal, and this is definitely the case for business insurance. Many businesses have a ‘set and forget’ mentality, putting basic policies in place and then paying the bill each month despite their organisation changing. If you don’t review your business insurance regularly, you risk being incorrectly or underinsured. The Insurance Council […]
Property, Rental, Tax
The rules and regulations around tax change regularly. An upcoming change we are keeping our clients informed about involves land tax in Queensland. This will affect you if you own property in Queensland, even if you live outside the state. Have a look at our quick explainer. Land tax in Queensland, what’s changing and when? […]
Financial Planning, Retirement Planning, SMSF
Superannuation update from a Gold Coast financial advisor A number of superannuation (super) reforms that were announced last year came into effect in Australia on 1 July 2022. Many of the changes are good news for anyone who has retirement on their mind — there are opportunities to increase your savings and build a bigger […]
Cashflow, E-Commence
Operating an e-commerce business has the potential to open you to a world of customers as you create employment opportunities and sell things people love. However, there are a lot of moving parts to stay in control of. There is inventory, marketing, customer experience, freight and of course, the financial side of things. If you’re […]
Business Grants
Find out everything you need to know about the latest Queensland Business Boost Grants including criteria, eligibility, how to apply and deadlines. QLD Business Boost Grant Round 2 The Business Boost grants program provides support to small businesses to advance improvements in their efficiency and productivity. You may be eligible to receive a grant payment […]
Retirement Planning
Retirement tips from a Gold Coast financial advisor Many individuals and couples start thinking seriously about retirement when they reach their 50s. If you don’t already have a plan in place by the time you reach this age, it’s very much time to get started. The more action you take during this decade to secure […]
Medical
Building a business in the medical or allied health industry is highly rewarding but can become stressful if you’re not in control of your finances. There is always the potential to run into difficulties if books are not balanced and plans are not in place to encourage a financially healthy future. Crest Accountants and Crest […]
News, Superannuation, Tax
The first month of the new financial year is almost over, make sure you keep up to date with the new regulations, legislations and changes from the ATO. Super guarantee contribution due date for June 2022 quarter The due date for employers to make super guarantee contributions for their employees for the June 2022 quarter […]
Child Care Services, Personal
Reminder: Recipients of the Family Tax Benefit (FTB) are required to lodge their 2021 tax returns by 30 June 2022 in order to receive their correct FTB payment amount. Continue reading to find out time limits for lump sum claims and confirming income for Family Tax Benefit. What are the time limits for 2020-21 financial […]
Tax
A new financial year is almost upon us and naturally, this is the time where new regulations, legislations and changes are introduced by the government that involve the business realm. Interested to see what’s new, what’s changed and how these accounting updates may affect you? Find out with the Gold Coast Accounting team at Crest […]
E-Commence
Selling products and services online is how many people do business these days. This, as you might already know, falls under the umbrella term of ‘ecommerce.’ It’s becoming easier to sell products and services online, almost as easy as it is to buy them as a consumer or business entity. However, you still need to […]
Business Grants
Austrade’s Export Market Development Grants (EMDG) program helps Australian businesses grow their exports in international markets. These grants encourage small to medium enterprises to market and promote their goods and services globally. Grant status Round 2 applications expected to open 31 May 2022 Eligibility To find out if your business is eligible – click here […]
Financial Planning, Retirement Planning
Although we may not particularly enjoy paying tax, it’s an important and necessary part of working life. These taxes fund important Government services and projects within the community. Education, health care, defense, infrastructure services and other vital projects are all made possible, partly or wholly through Australians paying taxes. Understanding tax contributions and filing tax […]
Mortgage Broking, Small Business Accountants, Tax
Do you want to purchase a sizeable asset for your business? If you answered ‘yes’, then you should look into how Crest Lending can help your business secure the equipment you need. An added bonus may be eligibility for the government’s temporary tax depreciation incentives, which include: temporary full expensing instant asset write-off backing business […]
Retirement Planning
When it comes to planning for retirement, the best time to start (if you haven’t already), is right now. No matter how far away retirement seems, the earlier you start preparing, the more funds you will have once it’s time to step away from the workforce. By making additional contributions to super as often and […]
Retirement Planning
Once the age of sixty-five is on the horizon… or if you think you have enough money in the bank, you will probably start thinking about stepping away from the workforce. Retiring can be the best phase of your life; your time is your own and you shouldn’t have to worry too much about making […]
News, Tax
There are a few reasons to switch accountants. You may not feel like you have the right ‘fit’ and that your accountant isn’t meeting your needs. It could be that your accountant doesn’t really have time for you, or you may have relocated to somewhere like the Gold Coast and decided to work with somebody […]
Tax
When it comes to saving tax a well-organised and proactive approach will get you the best results. This is why attending to your annual taxation planning before 30 June 2022 is crucial. A well-thought-out tax planning meeting will consider a range of factors such as deductions, timing of transactions, structuring and legislative changes. The meeting […]
Insurance, Mortgage Broking
As we have seen with the recent east coast floods, unforeseen disasters can strike at any time. That’s why it’s so important to protect yourself and your family financially – with the right kind of insurance for when something unexpected happens. Here are the types of insurance you should think about when buying a property. […]
News
The Gold Coast Triathlon – Luke Harrop Memorial was held on Sunday 3rd April at Mitchell Park at the Broadwater in Southport. Congratulations to our first ever Crest Triathlon team for their amazing achievements! We are all so proud of Alicia Gaylard, Michelle Mikkelson, Paul Timms, Peter Lettice, Anita Nair-Thiele, Nicole Amaya, Dianna Doepel, Brooke Taylor, […]
Insurance, News
Financial losses from phishing schemes, which trick people into giving out personal information, were up 261 per cent in 2021, compared to 2020. However, in more recent data from the Australian Competition and Consumer Commission shows a 301 per cent increase in financial losses from recovery scams, which target desperate victims of a previous scam by […]
News
At Crest Accountants, our mission has always been to empower individuals, families, and businesses to nurture financial success, security and peace of mind through expert accounting and financial advice. As we have continue to grow with our clients, we understand that the needs of our clients do sometimes extend beyond financial services, requiring legal advice […]
News, Tax
On the 29th of March the Treasurer Josh Frydenberg handed down the budget set out for the 2022-2023 financial year. Continue reading for a snapshot of the highlights: INDIVIDUALS Increasing the Medicare levy low-income thresholds The Government announced from 1 July 2021, there will be an increase in the Medicare levy low- income thresholds for […]
Asset Protection, Business Protection
Recently we have seen large Gold Coast construction companies go into liquidation. Some could consider these liquidations were out of their control due to the market-conditions, inflation, and lack of labour resources. Given the volatile market at present, it is crucial that you are proactive, review your entity structuring, balance sheets and liquidity and ensure […]
News, Tax
Recently, the ATO have indicated that trust distributions to adult family members and associated companies are on their radar and they are planning to increase ATO audit compliance activity. The ATO have released the following tax rulings to provide guidance on taxpayers’ that are risk of increased compliance activity: Draft Taxation Ruling TR2022/D1 Draft Practical […]
News, Women In Business
On Tuesday 8th of March, we celebrated International Women’s Day! This year’s IWD INTERNATIONAL 2022 campaign theme was #BreakTheBias. A challenged world is an alert world. Individually, we’re all responsible for our own thoughts and actions – all day, every day. We can choose to challenge and call out gender bias and inequity. We can […]
Government Support, News
Extraordinary Disaster Assistance Recovery Grants are available to assist directly impacted small businesses, primary producers and non-profits with the costs of clean-up and reinstatement. What is available? Grants of up to $50,000 to eligible applicants available for directly impacted businesses following South East Queensland Rainfall and Flooding. Up to $15,000 is available to support an initial […]
Retirement Planning
You have worked hard for what you have – across many years, too. Retirement may be on the cards for you, sooner than you would think. Have you started financially planning for it yet? Regardless of whether it’s one, five or even ten years away the steps, strategies and healthy financial habits you put in […]
Community, News
Following on from our successful Crest Fit 8-week challenge last year, we have now formed our first ever Crest Triathlon team. We have 17 staff members from across all our businesses including Alicia Gaylard, Anita Nair-Thiele, Brett Shepheard, Brooke Taylor, Christie Purtle, Craig Pearson, Dianna Doepel, Kayleigh Willington, Louise Pillidge, Michelle Mikkelson, Nicole Amaya, Nicole […]
Cryptocurrency, News
Scammers as we know, take from businesses and individuals – especially the vulnerable – by gaining trust, then taking personal information and hard-earned money. While scammers are nothing new, they’re adapting, constantly trying to find new ways to make other people pay. The solution? Prevention. Prevent yourself, loved ones and others from getting scammed with […]
E-Commence , News, Tax
Subscription services and platforms are no new initiative. For hundreds of years people have subscribed to deliveries from their milkman, and to magazines and newspapers, too. Flash forward to the 21st century, and subscription services have really exploded, from meal deliveries to movies and TV shows like Netflix and Foxtel, along with content creation platforms […]
E-Commence , Xero
Ecommerce has truly taken over the world – providing customers, here, there and everywhere with a more convenient way to shop. While customers are turning more and more towards shopping with and relying on ecommerce businesses, ecommerce businesses too, are looking for apps and integration channels to support their business needs. Enter Xero’s integration with […]
Cashflow
It’s said that businesses are only as good as the products and services they provide. While there’s some definite truth in this, businesses can only stay viable if they manage their business cash flow efficiently. Want to know more about successfully managing your business cash flow? Read more from Crest Accountants who assist business owners […]
Business Protection, Insurance
Small to medium businesses (SMEs) already have a range of different insurance products to choose from to cover their business. However, not all include the extensive costs involved when it comes to unexpected legal issues. As it turns out, such unfortunate and unexpected legal issues (to be discussed further on) aren’t covered in standard insurance […]
Small Business Accountants, Startup, Structure
Whether you’re just starting out, reassessing your current business situation or trying to achieve your business goals? Check out 7 helpful business tips from Senior Accountant, Nicole Amaya. 1. Know your Product or Service What’s your purpose, why does your business exist? Research the market and differentiate your product/service from your competitors. Ensure you have a […]
News
Welcome to 2022! Have you just returned to work? Or you might still be working from home until you can get back into the office? Well, Michelle Denny from Gold Coast HR, discusses 6 great ways to ease back into the workplace. 1 Ongoing inbox organisation Just as we tidied our “Inbox” to zero on […]
Tax
Division 7A forms part of the Income Tax Assessment Act of 1936, with an intention to prevent company profits or assets being provided to shareholders or their associates while receiving the company concessional tax rate, opposed to their marginal tax rate. Essentially, it’s an anti-avoidance measure to stop share holders and their associates from utilising […]
Cashflow, Medical
If you own a pharmacy, you’re in the business of helping people, liaising with doctors, nurses and customers to maximise community health. Naturally, you need a firm, easily implemented business strategy to stay viable and provide expert services. Cash flow forecasts are the most straightforward way in which to gain insight of current financial situations […]
Community, News
In January 2021 the Crest Lifeblood team pledged to save 200 lives by December 31 2021! A big thank you to the Crest Lifeblood team members Alicia Gaylard, Aaron Bird, Pippa Pang, Phoenix Starr, Matt Syle, Paul Timms, Joanna Crandon, Dianna Doepel, Jullie Teuben, Dean Burkinshaw, Craig Pearson, Wes Bothma, Troy Chesterton, Tracy Carroll, Belinda Shoesmith, Anita Nair-Thiele and […]
News, Property, Rental
Smoke alarms save lives – there are no ifs, buts or maybes about it, and since July 1st, 1997, they have been a mandatory requirement in Australian residential buildings (and extensions). Flashforward to now and Queensland landlords must abide by new changes to this law. These changes, effective from 1st of January 2022, will see […]
Mortgage Broking, Property, Rental
Australian’s love investing in property, and it’s no wonder why. Property investment helps you grow your wealth through capital growth and provides additional income via rental returns. Interested in buying an investment property? Need a few tips? Let’s look at some of the traits of successful property investors. They are proactive and motivated about self-education […]
Insurance
Living on the Gold Coast has its many perks. We are known for and enjoy almost year-round sunshine and warm weather. However, the tropical weather experienced on the Gold Coast does mean that between January and March, tropical cyclones are very possible. Unfortunately, because of this, some home insurers will no longer touch parts of […]
News
Crest Fit 8 Week Challenge As part of the Crest Wellness program, Crest launched the first ever fitness challenge in October! After such a fantastic turn out for the Gold Coast Marathon team – we decided to design a fun fitness challenge that incorporated all different types of fitness activities which created a fantastic opportunity […]
Tax
‘Tis the season for giving – and for plenty of business owners, that means giving gifts to staff and clients. On the personal front, there are many opportunities to donate to worthy causes at Christmas time, and of course, throughout the year, as well. Not only do making donations help you feel good, but many […]
Insurance
When it comes to insurance on your vehicle, there can be a bit of confusion about what insurances you require and why they are important. Crest Insurance’s Client Manager Christie Purtle delves into the two types of car insurance – CTP Insurance and Car Insurance, explaining the difference between the two and why you need […]
Financial Planning
Superannuation (super) puts money away now, for your retirement, later. While plenty of people are eager to review their super fund performance, less are likely to examine what insurance they hold through their super fund. According to Australian Securities & Investments (ASIC), Senior Executive Leader, Jane Eccleston, many Australians aren’t even aware they hold insurance […]
News
With the festivities commencing all-around, and the Christmas break is upon us. “Where has 2021 gone?” I hear you say. Ready to finish the year on a positive note and upbeat attitude? Michelle Denny from Gold Coast HR, discuses 6 ways to shut down your computer with a smile and re-boot again in January 2022! […]
Small Business Accountants, Tax
It’s fair to say you and your employees have had a long, hard year so it makes complete sense you want to thank them for all that they have done and will continue to do in the new year. Isn’t this what Christmas parties are all about? Claiming some of the costs as a tax […]
Medical
Whether you’re a GP or trauma surgeon, pharmacist or physiotherapist – you need to pay tax. Tax planning is an essential process for your peace of mind and ongoing compliance. Are you a medical professional struggling to keep up with your tax affairs? Read more from the medical accounting division at Crest Accountants to discover […]
Structure
Are you thinking about your current business structure and wondering if it’s still the right fit for your growing business? In our 3 part Business Structuring series, we analyse the risks and benefits of a selection of common business structures. In part 1 we examined operating as a sole trader, in part 2 we explored the business […]
Structure
Are you thinking about your current business structure and wondering if it’s still the right fit for your growing business? In our 3 part Business Structuring series, we analyse the risks and benefits of a selection of common business structures. In part 1 we examined operating as a sole trader, now let’s explore the business […]
Community
The Crest guys have been at it again – growing their MOs for Movember! We are all so proud of Crest Movember 2021 team – well done to: Ryan Tarrant, Sam Shepherd, Stephan De Villiers, Josh Brickles, Nigel Patterson, Aaron Bird, Brian Allen, Justin Fahey, Robert Hayward, Umair Asif and Craig Pearson. These incredible guys have […]
Structure
Are you thinking about your current business structure and wondering if it’s still the right fit for your growing business? Let’s analyse the risks and benefits of a common business structure: sole trader. Business structure: Sole Trader Operating as a sole trader is often a simple and cost-effective way of launching into a new business. […]
Community
This festive season the Crest team have all come together to give back to our local community, by supporting the incredible charity RizeUp with their Christmas 2021 Gift appeal. Who is RizeUp? Rizeup Australia is a community-driven organisation dedicated to supporting families affected by Domestic and Family Violence through various programs. Their Mission? RizeUp’s mission […]
Cryptocurrency
When investing in assets, you often need to acquire them quickly so you can capitalise on market conditions and potential gains. Unfortunately, due to the necessity to acquire these assets quickly, they are often acquired in inefficient entity structures which can have large tax consequences. Continue reading to find out why you should meet with […]
Community
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 all of us. Another year. Another life-saving effort. Thank you to everyone in the Crest Lifeblood Team who gave blood and Plasma in 2021. We have saved a total of 168 […]
Small Business Accountants
It’s said that a business is only as good as its service offerings. While there’s some definite truth in this, a business could sell the best quality products and services at an attractive price point, but if no one knows about it, how will it ever become successful? Enter: Marketing. Promoting, researching and advertising – […]
Cryptocurrency
Those who invest a significant amount of money into crypto or do a significant number of crypto trades might be asking themselves if they are considered a crypto trader or crypto investor, and what difference does this make from a tax perspective? Read more from our in-house crypto expert at Crest Accountants to learn the […]
Asset Protection
Asset protection is a key consideration when acquiring, structuring and maintaining your assets to ensure that your hard-earned assets are protected as much as possible from creditors. Unfortunately, there is often a lack of proactive advice surrounding acquisitions, legislative changes and changes in your state of affairs which means that your assets may be subject […]
Community
The Crest guys are back at it again for Movember, which is the leading charity changing the face of men’s health on a global scale, focusing on mental health and suicide prevention, prostate cancer and testicular cancer. Most things are better together, and no one should Mo it alone. So the guys from Crest Accountants, Crest Wealth, Crest Lending, Crest […]
Mortgage Broking
The pandemic has drastically changed the way we live and work. For some, there may have been big changes to their financial situation. You may have changed jobs or been promoted. Perhaps you’ve saved up some extra funds during lockdown. Maybe your goals have shifted – you’re no longer saving to travel to Hawaii, but […]
News, Tax, Xero
It’s that time again! Time to examine updates in the Australian accounting spheres. Interested to see what’s new, what’s changed and how these accounting updates may affect you? Find out with the Gold Coast Accounting team at Crest below. ATO support for employers with expansion of STP As part of the expansion of Single Touch […]
COVID-19, Government Support, Tourism
Applications are closing soon for several COVID-19 government grants that are available to eligible business operating in Queensland, or in the Queensland – New South Wales border zone. Now is the time to review your businesses eligibly before it’s too late. Want to know more about the government grants that are still available? Read more […]
Insurance
There’s no one size fits all when it comes to business models. It’s the same for business insurance. How your business is set up, operated, as well as how many people are employed and their contracted status will ultimately, differ from the next. You can have full-time staff, part-time staff, casuals, contractors and even subcontractors. […]
Financial Planning
There have been a lot of concerns, conflicting opinions and hesitancy when it comes to protecting ourselves from COVID-19 with the vaccines available. Getting the vaccine is a choice but know that all vaccines are thoroughly tested for safety across all levels from clinical trials to ingredients and manufacturing before their use in Australia. Want […]
News
With the implementation of the Director Identification Numbers (DIN’s) commencing in November 2021, it will be important to understand the new obligations for those operating in the capacity of a Director. Overview As part of the 2020 Budget Digital Business Plan, the government announced the full implementation of the Modernising Business Registers (MBR) program. A […]
News, Structure
Are you a professional practitioner operating a medical/allied health, architectural, engineering, accounting, legal, or other professional firm? This update is for you. The Australian Taxation Office (ATO) have released Practical Compliance Guideline Draft PCG 2021/4. These guideline sets out the ATO’s compliance approach to the allocation of professional firm profits. Want to know if and […]
COVID-19, Government Support
The Australian Government’s SME Recovery Loan Scheme (the Scheme) is designed to provide access to affordable credit for eligible small and medium enterprises (SMEs) that have suffered from the impacts of the March 2021 floods or from COVID-19. From the 1st of October 2021 the eligibility criteria will be expanded to include more SMEs. Want […]
SMSF
A self-managed super fund (SMSF) is exactly that – where your superannuation is managed by yourself. What makes an SMSF different to other types of superfunds is that the members are often themselves the trustees. This means they run it for their own benefit, while complying with Australian superannuation and taxation laws, of course. When […]
Insurance
Despite what we would all like to believe, not everyone out there has good intentions for you or your business. Social engineering is the umbrella term that encompasses a variety of malicious activities conducted through human interaction. Fortunately, you can unlock peace of mind for yourself and your business with cyber insurance. Want to know […]
Cryptocurrency
According to the Australian Taxation Office (ATO) a gift is the voluntary transfer of money or property. The donor does not expect nor receive anything in return for the gift, experiencing no material benefit. If you’ve been keeping up to date with Crest articles, you might have seen topics based upon cryptocurrency (aka crypto). These […]
News
Want to know what’s changed in the world of business and accounting and what it means for you? Find out with the trusted Gold Coast Accountant team at Crest Accountants. Updated Queensland Government Grant On the 13th of August 2021, The Queensland Government announced the Queensland COVID-19 Business Support Grants will increase from $260 million […]
News
Congratulations to our Marketing Manager Louise Pillidge for being named as a finalist in the Women in Finance Awards for Marketing Professional of The Year category! About The Awards The Women in Finance Awards was founded by Momentum Media in 2017 to celebrate female leaders, role models and future champions within the financial industry. This […]
Insurance
If you know a thing or two about personal or business insurance, or you’ve engaged in conversation with someone who does – you might have heard one thing – that it’s a seller’s market right now. This can also be classified as a hard market, but what does it all mean and what is the […]
Cashflow, COVID-19, News
Applications for the 2021 COVID-19 Business Support Grants will open at 12pm, Monday 16 August 2021. All eligible businesses who apply for a grant during the 3-month application period will receive funding. Who can apply Small and medium businesses and not for profit organisations To be eligible, you: must employ staff (employees must be on your payroll and does not […]
Medical
A doctor’s goal focuses on educating, maintaining and providing the best solutions for the overall health of their patients. With so many patients to see, staff to pay and day-to-day operations to attend to – it’s no wonder why many doctors and medical professionals find themselves busy and time poor. Never fear – there’s a […]
Medical
Good health and hygiene start young and in the home. However, medical professionals play an important role too in maintaining overall health and happiness, throughout people’s lives. While this is the drive and mission behind why medical professionals do what they do, let’s not forget that many of them are business owners too. If you’re […]
News, Structure
In breaking news, and some good news for Australian businesses, the High Court has just this week, overturned a decision that was set to see long-term casuals receive paid leave entitlements. Want to know what this High Court win means for employers? Read more from your trusted team of Gold Coast business accountants at Crest […]
Cashflow, COVID-19
With the announcement today that the SEQ lockdown will be extended until Sunday August 8. The Palaszczuk Government will provide $5,000 payments to small and medium businesses across Queensland affected by the current COVID-19 lockdown and lockdowns in other states. Grant Overview: Available grant funding of $5,000 (excluding GST) for small/medium businesses Providing cash flow […]
Tax
It’s that time again! Time to examine updates in the Australian accounting spheres. Interested to see what’s new, what’s changed and how these accounting updates may affect you? Find out with the Gold Coast Accounting team at Crest below. Update on the gig economy reporting regime The gig economy refers to short-term contracts and freelance […]
Cryptocurrency
Cryptocurrency, commonly abbreviated to simply ‘crypto’ is defined as digital currency that can be used to buy goods and services, backed by strong cryptography to secure all online transactions. Since its inception in 2009, dozens of cryptocurrencies have emerged and many countries across the globe are trying to find ways to regulate such a decentralised […]
Community
For the first time ever, Crest entered a team into the Gold Coast Marathon for the Southern Cross University 10km run. Our team included 11 staff members from across all of the Crest businesses, including Peter Lettice, Kayleigh Willington, Michelle Mikkelson, Christie Purtle, Nicole Amaya, Belinda Shoesmith, Angela Pernazza, Alicia Gaylard, Paul Timms, Brett Shepheard […]
Medical
Dentistry training and industry specific dental equipment go hand in hand. So, while dentist’s work hard to keep up to date with the latest skills and training, it makes sense that innovative dental equipment and technologies should reflect this. Want to know when you should invest in more dental equipment? Read more from the specialised […]
COVID-19, News
The Business Boost Grant – Opens 30th July The $15,000 Business Boost grant will help small businesses to improve their efficiency and productivity through organisational development and upgrades through automated software and CRM systems. Grant Overview Opens 30 July at 9am (closes when funds exhausted) Maximum grant is $15,000 Successful applicants must co-contribute 30% of total costs i.e. […]
Financial Planning, Retirement 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 […]
Insurance
As a business owner, homeowner, or any other individual with insurance, I’m sure you would like to imagine insurance as peace of mind, and peace of mind only. However, when an unexpected and adverse incident presents itself and you need to make a claim on your insurance policy, it’s worth knowing how it’s managed. Even […]
Insurance
When it comes to your life, home, travels, belongings and business, insurance is crucial and well-appreciated if or when the unexpected happen. However, there seems to be a false sense of security among many Australians that their insurance policies cover all. In fact, now might be a good time to review your insurance coverage with […]
Tax
It’s nearly the New Financial Year, if you consider filing a tax return a financial chore at the start of every financial year, it’s time to switch your thinking. Rather than a quick form fill-out and submission, take your time to ensure you minimise your tax liability and minimise the potential costs you owe. Did […]
Business Protection, Insurance
You insure your home and your contents, your car, health and maybe even your pet’s health! So, if you’re a business owner, you know the importance of suitable business insurance, too. Or do you? Did you know up to 62% of small to medium businesses admit that they’re unlikely to have the right insurance in […]
News
The Australian Accounting Awards is a program that bestows the industry’s most prestigious accolades recognising excellence across the entire accounting industry in Australia. This year our team was named as a finalist in the Australian Accounting Awards for the following categories: Firm of The Year Multiservice Firm of the Year Wellness Program/Initiative of the Year […]
Tax
A new financial year is almost upon us and naturally, this is the time where new regulations, legislations and changes are introduced by the government that involve the business realm. Interested in finding out about any new industry updates that may affect you? Read more from the Gold Coast accountants at Crest to find out […]
Cryptocurrency
Cryptocurrency (aka crypto) is digital currency that involves transactions that are verified, and their records maintained by a decentralised system. You might have heard about or even used or utilise cryptocurrencies like Bitcoin, which provide an added outlet for personal wealth. There’s been a dramatic increase of cryptocurrency trading since the beginning of 2020, and […]
Financial Planning
Life is what you make it – so it’s important to make yours count. While money can’t buy happiness, it sure can help us prepare for major milestones in our life. Read more from the Gold Coast financial planners at Crest Wealth to find out about financial planning tips for 4 major milestones. New career […]
News
The Business Basics Grant provides small businesses with funding to help them increase their core skills and adopt best practice. Grant Overview: Open date: 31 May 2021 Application detail: Applications close 30 June 2021, or when sufficient applications have been received for a competitive assessment, whichever occurs first. What do you get? A single up-front […]
News
When times are tough, we need to support each other. We saw this time and time again in 2020 with Queenslanders supporting local businesses, checking in on lonely neighbours and distant relatives. It was undoubtedly tough last year, but we’re not through it yet. Queensland is a remarkable, sunny state in our weather and the […]
News
Crest Accountants has been shortlisted for the Australian Accounting Awards 2021. Crest Accountants has been named as a finalist in the Australian Accounting Awards for Firm of The Year, Multi Service Firm of the Year and Wellness Program/Initiative of the Year. Congratulations to our team members for being recognised in individual categories – such an incredible […]
News
On Tuesday 11 May, Federal Treasurer, Josh Frydenberg handed down the 2021/22 Federal Budget. It is understood that the 2021/22 Budget measures have been motivated by the recession faced in 2020 with the purpose of supporting accelerated economic recovery and growth. BUSINESS AND COMPANIES Temporary Full Expensing The Government has announced that the temporary full […]
Tax
It’s almost that time again. Just around the corner, it’s the end of financial year 2020-21, so that means now is a great time to start planning your tax strategies (if you haven’t already). There are some key items to review before the start of a brand-new financial year which are relevant to both individuals […]
Insurance
All Australians need insurance in their life, in more ways than one. We insure our home and its contents, our cars and other vehicles, health, holidays and more. Insurance isn’t a set and forget solution though. So, if you’ve had the same insurance policies in place for a long time, there’s every chance your circumstances […]
Property
With COVID-19, the recession and everything that 2020 threw at us – 2021 was sure to be a kinder… Well, with the unpredictable lockdowns of entire cities, sudden border closures possible fallout from the JobKeeper payment coming to a finish – amongst all of that, the property market on the Gold Coast is still booming. […]
Financial Planning, Retirement Planning
Aged care. It’s what a lot of us put on the backburner until an elderly loved one, or even ourselves admit to needing assistance. Many of us will live to a ripe, old age, so it’s necessary to think about that, when we’re well into retirement and mobility and our health declines. Fortunately, it’s never […]
Tax
Although it’s already April, it’s not quite the end of financial year yet, but that doesn’t mean you can’t start planning your tax and thinking about catch up contributions. If your super balance is under $500,000 (which is a reality for many Australians), there are ways you can reduce your tax. This strategy is otherwise […]
Insurance
Business insurance exists to protect your business from unlikely, unfortunate events and all the risks that may present themselves in the everyday operations of your business. Rarely, and hopefully never, your business may be interrupted, or closed for an undetermined period due to any number of issues (cyber hack, structural damage brought on by wild […]
Community
The March Charge For the month of March all of our businesses Crest Wealth, Crest Lending, Crest Insurance and us (Crest Accountants) came together to participate in The March Charge with Cancer Council – telling cancer where to go! We set ourselves a challenge of raising $5000, and to charge 1,000 KMs between us by […]
Property
Huge demand and low supply are seeing winners and losers in the property market, with the Gold Coast region still proving an enviable, competitive market that so many people want to call home. Locals and expats, even interstate buyers are ready, willing and able to get their hands on a little slice of Gold Coast […]
Superannuation
Superannuation (or super) exists to make the transition into retirement that little bit easier. You work hard for your money, so your super can be seen as a little thank you for your contributions to the economy and your career. As your super is yours, it means you have the choice and opportunity to review […]
Women In Business
On the 8th of March 2021 (International Women’s Day), the federal government launched a new $11.6 million funding round under the Boosting Female Founders Initiative that will support female entrepreneurs to build their businesses, take on global markets and create local jobs. The Boosting Female Founders Initiative – Round 2 program will provide targeted support […]
News
There is a multitude of information out there on how to manage money, both of the true and misleading variety, which makes it difficult to sort through the millions of results to decide what’s relevant to you and who to turn to. Fortunately, there are professionals who help people and businesses alike manage and invest […]
Financial Planning, Retirement Planning
As much as some of us would like to, we can’t work forever. Life expectancy is increasing from generation, to generation, with an expectancy average of 83.5 years. A life well worked, lived and loved deserves some downtime in its twilight years. Financially planning now, will help you live a comfortable retirement, later. It’s never […]
Insurance
You get insurance for your home and its contents, your car and maybe your health. In a business, there’s a plethora of insurance products out there from public liability to professional indemnity, and there’s one type of insurance that just wasn’t around 30 years ago; cyber insurance. This is how you can and should protect […]
Tourism
Tourism operators and those throughout the tourism industry have been experiencing tough and uncertain times over the last year. In response, Australians have been encouraged to dine and enjoy, relax and explore in their own state, territory and country – the place they call home. There’s no definitive end in sight and no return to […]
Insurance
The serenity of the Gold Coast and Queensland is truly unmatched. Our little section of the world is a piece of paradise. However, it’s not immune to catastrophic weather events. From bushfires to storms, cyclones to flash flooding – it’s always a good idea to be prepared, even if it never happens to you. Are […]
Property
On a global scale, the year that we left behind was a year of tumultuous change, in health and economies. On a local scale, the Gold Coast property market saw interesting and actually quite positive performance. Yet, with a new year, comes new challenges, new hope and new market factors and demands. Want to take […]
Business Protection
As we shut our doors on 2020 and open a new and cautiously optimistic one to 2021, it’s time to roll up our sleeves and get back to our businesses. Yet with a new year, and new rollouts of software and technologies, comes more ways for hackers to do what they do best, disadvantaging their […]
COVID-19, News
JobKeeper Key Dates: 4 January 2021 – the JobKeeper extension 2 starts and the payment rates change for your eligible employees, eligible religious practitioners and eligible business participants. See payment rates. Between 4 January 2021 and 28 January 2021 – complete the December business monthly declaration (this is an extension of two weeks past the […]
Financial Planning
In a year like no other, it’s safe to say many of us are looking forward to starting fresh in 2021. With a vaccine on the way, slow but steady economic recovery and long awaited and long-lasting embraces with interstate and overseas loved ones all on the horizon – what’s not to look forward to? […]
Insurance
Building, growing and sustaining a business is one mighty task. Safeguarding your business with tailored business insurance is a priority, as is providing your employees, workers, clients and other personnel, a safe environment to work in and visit. Full-time, part-time and casual employment is by no means the only form of employment – so who […]
News
With strict international travel bans and border closures, the Queensland tourism industry has been suffering more than most since COVID-19. The Queensland Government is offering a $5 million COVID-19 International Tourism Adaptation Grant, a key element of the Queensland Economic Recovery Strategy: Unite and Recover for Queensland Jobs to help accelerate the State’s recovery from COVID-19. […]
COVID-19, News
As this year ends and a new one approaches, it’s time to reflect on what a year it has been – from global health responses, worldwide economic hits and a disruption to life as we know it. To look at 2021 predictions of economic recovery, we first must look at the past. The Great Recession […]
Estate Planning
If your discretionary trust, holds or acquires residential land in New South Wales after 31 December 2020 then your trust may be liable to pay surcharge duty and surcharge land tax if you do not amend your trust deed before 31 December 2020. Late last year a bill was introduced into the NSW parliament proposing […]
Community
There’s no I in Movember. Most things are better together and no one should Mo it alone. So the guys from Crest Accountants, Crest Wealth, Crest Lending and Crest Insurance came all together to raise funds and awareness for men’s health. Their goal was to raise $7,500 for Movember, which is the leading charity changing the face […]
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 […]
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 […]
Property
Many Queenslanders have felt grateful for their homes, many tenants thankful for negotiations and avoidable evictions and plenty of Queensland property investors have been keeping a close eye on the state’s property market. You may have read our blog on the Gold Coast property market published in late May, but as you and everyone alike […]
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 Broking
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 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 […]
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 […]
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
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 […]
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 […]
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, finances and accounting new year resolutions? Shouldn’t we be considering those too? We should! How do we expect our […]
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 SMSF? 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 cloud accounting and are here […]
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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