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 and Twitter.

Wanted in Albany – Bookkeeper, problem solver

Our Albany office is looking for a full time Bookkeeper to join our growing team. Porters CA is a boutique Accounting firm with offices in Perth & Albany that operate as a unified team, mixing excellence in tax compliance & bookkeeping with a personal touch & a view that opportunities are everywhere. Our goal is to create Prosperity and GREAT experiences for our Staff and Business Clients. Work is meant…  Read more

Christmas parties, gifts and tax

There is no separate fringe benefits tax (FBT) category for Christmas parties. You may encounter many different circumstances when providing these events to your staff. Fringe benefits provided to, an associate, or under an arrangement with a third party to any current employees, past and future employees, and their associates (spouses and children), may attract FBT. Implications for FBT The following explanations may help you determine whether there are FBT…  Read more

4 Common Sense Financial Tips To Make Your Money Work For You

Good personal finance skills are important but this seemingly simple concept can be difficult to master. Without knowing how to manage your money effectively, you run the risk of making financial mistakes that could significantly impact your life. Avoid money traps and manage your finances better with the following common sense financial tips. 1. Not all ‘tax effective’ investments are good investments. The term ‘tax effective’ is used loosely and…  Read more

Looking for an exciting new job? We’re looking for an Accountant – Tax and Business Services in Albany, WA.

Porters CA is a boutique firm, mixing excellence in tax compliance and bookkeeping with a personal touch and a view that opportunities are everywhere. We are seeking tax & business services accountants to join our growing team. We’re seeking a graduate or early stage in your career, however if you have more experience we’ll fit the role to match your great attitude, aptitude and skills. Our goal is to create…  Read more

Winning Together – lessons from the Richmond Tigers

Planning for success means taking control of your future. In 2010 Richmond CEO, Brendon Gale, laid out a 10 year plan for the club including three premierships by 2020. Following no premiership in 30 years, this was no easy task and bordered on fanciful. I am not a Richmond supporter, but I admire what they have achieved. The CEO laid out a plan for “winning together”. We think it is…  Read more

WA residential real estate

The past six years have been tough for Perth’s property market but maybe the tide has turned. Perth dwelling values fell by more than 22% from highs in June 2014. For any home or investment property buyers from 2008 onwards, breaking even on a subsequent sale has been a measure of success. Regional markets are also booming. You will struggle to find a rental property, a holiday home, a vacant…  Read more

Philanthropy and community

October has been a busy month for us. We have been fundraising for and participating in a range of community events to raise money for valuable charities, research and services. It is inspiring and rewarding to have the opportunity to participate in fundraising events. We have connected with so many like minded individuals who share a goal, to make a difference. Donating to a cause or participating in community events…  Read more

Creating your business to-do list

When you’re a small business owner, your to-do list is often long and constantly growing. There are an overwhelming number of things need to be done and it can seem they’re all urgent. It’s easy to push important tasks to the side and focus on less-vital activities but that often means you miss deadlines, make mistakes and feel as though you’re always trying to catch up. Create a list and…  Read more

We’re Hiring

Intermediate accountant: 2-5 years experience in tax and business services. We are looking for an enthusiastic accountant to join our team. Porters CA is a long established Chartered Accounting firm with a focus on excellence, growth and embracing new systems and ideas to meet the changing business and accounting world. Our goal is to create prosperity, great experiences and opportunities for our staff and business clients. Our client surveys and…  Read more

The Valley of Despair – a travel guide

Fairy tale touring notes from an accountant? Stick with us, it could be fun and you could be the Hero in this tale… We love to guide clients from financial anxiety and a mess of paperwork to a better place with systems, process and control to free up time and achieve their goals. Valley Of Despair A Travel Guide You only visit The Valley of Despair on your way to…  Read more

Business Update – August 2020

Our August update is designed to keep you informed of the latest options available to business in response to Covid. Cashflow Boost Estimator Employers who are eligible to receive cashflow boosts can calculate the credits they may receive using the FREE cashflow boost estimator which you can download here. Those who received an initial round of cashflow boost will be eligible for a second round of assistance when they lodge…  Read more

Surviving and Thriving in a Recession

The pains caused by a recession can be brutal and most of us dread the thought. A recession can mean massive layoffs, fewer jobs and wages frozen, which means consumers spend less and in turn worsening the economic slowdown. If we look at the effects of the Global Financial Crisis (GFC) of 2008, between December 2008 and December 2010, about 1.8 million small businesses closed. According to Investopedia one decade…  Read more

Finding money within your business

Times are tough for business owners. Many small businesses are experiencing cash flow problems from time to time and urgently need working capital. While many business owners immediately think of the bank or loans when they’re short of money, there are other resources you can tap before you ask for that expensive overdraft or overdraft extension. The money you need might already be there—locked up in inventory, assets or your…  Read more

Extension time to apply for JobKeeper

Extension of time to enrol for the JobKeeper scheme The Commissioner has extended the time to enrol for the initial JobKeeper periods, from 30 April 2020 until 31 May 2020. If you enrol by 31 May you can still claim for the fortnights in April and May, provided you meet all the eligibility requirements for each of those fortnights. This includes having paid your employees by the appropriate date for each fortnight. For the first…  Read more

Tax Planning and the Government Stimulus

We have recently communicated with you via a blend of newsletter, email and phone calls across various topics including: Business Continuity Planning – bring structure into your business management across a range of areas Cashflow management and forecasting PAYG instalments – options to pay or vary for March quarter and also an option to reduce previous quarters to nil and receive a refund of tax instalments paid Government Stimulus –…  Read more

Update for Investments and Super – Knight Financial Advisors

Author Peter Farlie Director Knight Financial Advisors Coronavirus concerns continued to dominate markets through March, causing unprecedented volatility in investment markets. The far reaching economic consequences have effectively wiped out all of the progress made over the last three years. We summarise the main indices as at the end of March below which have now turned to a sea of red: In addition to the above, the combined effect of…  Read more

Commercial Lease Rent Relief during COVID19

If your business qualifies for JobKeeper support (effectively measured by your actual or forecast turnover reducing by more than 30%), then your business may qualify for commercial rent relief as provided for in the National Cabinet Mandatory Code of Conduct SME Commercial Leasing Principles during COVID-19. The key principles are as follows: Where it can, rent should continue to be paid, and where there is financial distress as a result…  Read more

Stimulus for Eligible Employers

The legislation and supporting documentation for the first two stages of the stimulus came to more than 200 pages. Our team has been reading the literature and attending training seminars on the application of this new legislation and working out how this legislation applies to your business. PAYG Withholding Stimulus for eligible employers TAX FREE PAYMENTS of up to $50,000 for eligible* small and medium businesses based on their PAYG…  Read more

WA Government Additional Support

      The Western Australian Government announced this week, further stimulus actions to help Western Australians The small business relief includes: $17,500 grants for small businesses with a payroll between $1 million and $4 million. The $1 million payroll tax threshold (announced in October 2019) will be brought forward by six months to 1 July 2020. Grants of $17,500 will automatically be paid by cheque to eligible businesses from…  Read more

What the Coronavirus Stimulus Package means for you

It’s hard to escape the news of the Coronavirus as it continues to have a huge impact on people across the world. Closer to home, the Morrison Government has announced a stimulus package in response to the anticipated economic downturn. This package includes a number of economic stimulus measures for the 2019/20 and 2020/21 income years, with most of targeted at helping small to medium-sized businesses. Here to help But…  Read more

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