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  • Is Augmented Reality The Future of Accounting

    Have you ever fancied having a meeting with your accountant at the top of the Eiffel Tower or on the Great Wall of China? While this reality could be a long way off, the technology of augmented reality is a lot closer than we realise and it could have a big impact on accounting. Augmented reality puts digital information or images into the user’s view of the real world. Think Pokemon Go which is an example of augmented reality. Imagine your accountant putting on their virtual headset, [...]

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    Tax Deduction for Airport Lounge Membership

    Do you have employees in your business that need to travel? There is good news from the ATO with the recently released Taxation Determination TD 2016/15, which says a business can claim a deduction for the annual fee paid on an airport lounge membership for use by its employees. The airport lounge membership has to be provided to the employee because of the employment relationship. The main purpose of the airport lounge membership fees has to relate to producing assessable income, it cannot [...]

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    Running your business from home

    With the costs of renting a premises so high, many people look at running their business from home. Running a part-time business from home is also becoming more popular. When you run a business from home, you need to consider some tax implications of doing this. Examples of a home base business could include a chiropractor who has a consulting room at their home or a builder who has a workshop at their home. You may be able to claim some tax deductions from running a business from home such [...]

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    Tax Deductions For Working From Home

    As tax return season is in full swing, we thought it would be timely to highlight an area of tax law which often causes confusion for people when having their tax returns prepare, which is home office deductions. If you work from home, you may be able to claim a deduction for some of your expenses relating to using a home office. A home office is regarded as a work area such as a study or spare room used for work activities. Deductions that you may be able to claim for a home office include [...]

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    Accountants to Feature in Hollywood Movies

    Today's blog is on a lighter subject. For years accountants have been relegated to minor roles in movies, with the lead roles focusing on lawyers and other professions. Well it looks like the tide has turned and Hollywood has decided 2016 is the Year of the Accountant, with two movies to be released with accountants in major roles starring some of Hollywood's leading actors.    The most hyped movie is The Accountant, starring Ben Affleck. This movie is an action thriller about Ben Affleck's [...]

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