Hire Purchase & Borrowing Cost Concept
Hire Purchase & Borrowing Cost ConceptHire PurchaseMeaning of Hire Purchase: Hire purchase is an arrangement for buying Capital Assets,…
Opening Stock and Closing Stock Concept
Opening Stock and Closing Stock ConceptHow to bring Opening Stock and Closing Stock in Books?If Book Keeping maintain in Finalisation…
Rental Income Concepts
Rental Income ConceptsResidential RentCommercial RentGST doesn't apply to residential rent. You're not liable for GST on the rent you…
Division 7A (Only for Business) Concept
Division 7A (Only for Business) Concept What is the purpose of Division 7A?Division 7A is part of the Income Tax Assessment…
Luxury Car (Only for Business) Concept
Luxury Car (Only for Business) ConceptApplicable only for business use.What is Luxury Car?In FY 2021 -22 Car Gross Value was…
Unfranked Dividend, Franked Dividend, Franking Credit Concept
Unfranked Dividend, Franked Dividend, Franking Credit ConceptExample:1 At the time of Issuing Dividend by Company DescriptionDrCrBalance1st Quarter PAYG Instalment2002002nd Quarter PAYG…
Fuel Tax Credit (Only for Business) Concept
Fuel Tax Credit (Only for Business) ConceptFuel Tax Credit (Claim your fuel tax credits on your BAS)If your business uses…
CTR – Declarations – ATO
6. DeclarationsTax agent’s declarationPublic officer’s declarationHours took to prepare and complete this tax return
CTR – Calculation Statement – ATO
5. Calculation StatementCalculating your T5 Tax payable and S Amount due or refundableA –Taxable or net income (From Item 7)51000T1Tax…
Item 7 -Reconciliation Statement For Company – ATO
*Item 7 -Reconciliation Statement For CompanyDescriptionPPNPPAAccounting Net profit or Loss (Excluding Income Tax Expenses)BIncome reconciliation adjustments (H-L)HAdd backs: Assessable…
