Welcome to the Porters CA Blog.

Please enjoy our regular blog of relevant business, taxation and financial information. You can also follow us on Facebook, Instagram, Linkedin and Twitter.

Superannuation payments – Pay on time, every time, no excuses!

With the implementation of single touch payroll, the ATO has real time data of wages paid, super due and receipts by super funds. This means now more than ever Superannuation must be paid on time. We’ve helped many small businesses implement systems to embrace single touch payroll by moving to cloud accounting with Xero or MYOB and gaining the additional benefits of time, knowledge and control of their business. We see…  Read more

Locked in a Commercial Lease.

Advice from the desk of Simon Terry I have been helping clients recently with commercial leases they can’t afford, in premises they don’t need, for leases we didn’t discuss, locked in place by personal guarantees. So I have put together 10 tips of dos and don’ts: 1. Personal guarantees – don’t do it.  Accountants create business structures to minimise personal risk so don’t undo our hard work. 2. How well…  Read more

Seven Steps to Starting a New Business

You’ve got a great idea for a business, and now you want to get it off the ground and take it to market. This is a very exciting time, but there’s quite a bit you need to think about before you can launch. We offer resources to help you get started. Follow our seven day program to:  Determine if you can make any money Prove you can beat the competition…  Read more

Labor’s planned changes to negative gearing and capital gains tax

You would have been hearing a little about Labor’s proposed changes to negative gearing and CGT over the last couple of months. So with the election just a few short weeks away, here’s a summary of what the changes might look like. Currently… Negative gearing of an investment property occurs when the annual costs (interest, management fees, repairs and maintenance, depreciation, etc) are greater than the net rental income. Any…  Read more

2019 Federal Budget Announcement

The annual Federal Budget is an event full of buying votes, new ideas, old ideas rehashed and new tax opportunities and pitfalls. In an election year, politicians’ imaginations run a little wild… so we’ve provided a summary blog and a longer assessment in case you want to know more. This year we are excited about two initiatives which in one form or another are likely to get bipartisan support.  These…  Read more

When Values and Culture Matter

Like many small businesses, we’ve been through the process of defining our Mission – creating prosperity and great experiences for staff and clients – and our Vision (how our mission and values come together to an end goal), then engaging our team to define Porters’ Values. Our Values a lot of thinking and team engagement behind them. As a business owner I use them to talk with staff about how…  Read more

Residential Investment Properties – What You Can and Can’t Claim

In our last note, we had a quick review of how changes to the 2017-18 Budget might affect residential investment property owners and their Income Tax position.  While there was some bad news from the point of view of travel claims, and claiming depreciation on plant and material (at least in your Income Tax*), there are still plenty of things you CAN claim against managing your investment property. In this…  Read more

Own a Residential Investment Property?

Want to know how the 2017-18 Budget affects your future tax position?   Here’s the rub… The ATO is interested ATO audits of over 300 rental property claims found errors in 90% of returns.  This means a huge potential loss of revenue for the ATO and fertile ground for tax reviews. This year, the Australian Taxation Office (ATO) will undertake 4,500 audits of taxpayers it considers are “high risk” because…  Read more

Perfect is the Enemy of Progress.

Do you have a strategic plan which is going nowhere fast, revolving in your head or waiting for the right staff member or business conditions?  It’s time to get started at brilliant.  Even quite good with a passion for continuous improvement will see you progress at startling speed. Perfect is the enemy of progress. Waiting for the perfect plan and conditions will guarantee missed opportunities and stagnation. Will it work…  Read more

Want to grow your business? Our Free Resources will Help