Clarity Accounting Solutions

Clarity Accounting Solutions We are a boutique firm of Public Accountants and Business Advisors who strive to provide the highest level of client satisfaction.

We ensure all taxation and legislative compliance requirements are met in all areas of business. Specialist in Management Rights, Tax Accounting, Trust Set up, Xero, MYOB, Financial and New Business Advice.

Employers are reminded that employee super contributions for the quarter ending 30 June 2025 must be received by the rel...
15/07/2025

Employers are reminded that employee super contributions for the quarter ending 30 June 2025 must be received by the relevant super funds by Monday, 28 July 2025.

If the correct amount of SG is not paid by an employer on time, they will be liable to pay the SG charge, which includes a penalty and interest component.

The SG rate has increased to 12% from 1 July 2025.

The ATO advises new business owners that they need to understand their obligations to ensure they are “getting it right ...
25/06/2025

The ATO advises new business owners that they need to understand their obligations to ensure they are “getting it right from the start.”

These are the ‘top 7 things’ taxpayers need to know when starting a business.

They should use digital tools and maintain accurate records to help them manage daily activities and cash flow.

There are some registrations they will need to complete when they start a business (for example, registering for an ABN or a business name).

They can claim a tax deduction for most business expenses if the expense is directly related to earning their income.

Taxpayers should remember to keep records and only claim the business portion of mixed-use expenses.

The type of business structure they set up will affect their tax and registration requirements, so they need to choose the right business structure and understand their obligations.

If they are an employer, they should realise that they have extra responsibilities and obligations (e.g., super guarantee and Single Touch Payroll).

They need to lodge and pay their taxes on time. They can prepay their estimated income tax liability through PAYG instalments.

Businesses that maintain accurate records, lodge and pay on time and avoid errors not only steer clear of penalties and general interest charge but also become more resilient when facing challenges.

If you need assistance with any of these issues, please contact our office on 07 5449 9955.

Celebrating the end of financial year… 🥂 it’s been fantastic! Love helping our clients and looking forward to a fabulous...
20/06/2025

Celebrating the end of financial year… 🥂 it’s been fantastic! Love helping our clients and looking forward to a fabulous FY 2026 💫

The Government recently passed legislation making changes to the foreign resident capital gains withholding laws (among ...
26/02/2025

The Government recently passed legislation making changes to the foreign resident capital gains withholding laws (among other changes).

Foreign resident capital gains withholding is relevant for all vendors selling certain taxable real property (e.g., Australian land).

Even Australian residents can be caught by these laws because, if they do not have a valid ‘clearance certificate’ issued by the ATO at, or before settlement, tax must be withheld from the sale proceeds by the purchaser and paid to the ATO.

The new legislation increases the foreign resident capital gains withholding rate to 15% (from 12.5%), and completely removes the threshold (currently $750,000) before which withholding applies.

This means that all disposals of taxable real property are potentially subject to foreign residents’ capital gains withholding requirements regardless of the market value of the CGT asset.
These amendments take effect from 1 January 2025.

Please contact us on 07 5449 9955 if you have any queries.

The ATO will acquire government payments data from government entities which administer government programs for the 2024...
23/01/2025

The ATO will acquire government payments data from government entities which administer government programs for the 2024 to 2026 income years, matching data on government payments made to service providers against ATO records, including service provider identification details and payment transaction details.

The ATO estimates that records relating to approximately 60,000 service providers will be obtained each financial year, including approximately 9,000 individuals, with the remainder consisting of companies, partnerships, trusts and government entities.

The ATO is reminding taxpayers that it is important to lodge BASs and pay in full and on time to avoid penalties and int...
23/01/2025

The ATO is reminding taxpayers that it is important to lodge BASs and pay in full and on time to avoid penalties and interest charges.

The BAS for the second quarter of 2024/25 is due on 28 February 2025 when it is lodged through your registered tax/BAS agent.

We also assist many clients with their regular bookkeeping, allowing them to focus on running their business, rather than doing their accounts,

Remember, the cost of managing tax affairs is tax deductible for taxpayers…

Please call us if you have any queries on 07 5449 9955

Celebrating another great year 🎉🎉🎉and wishing our wonderful clients a very Happy Christmas and a happy and prosperous 20...
20/12/2024

Celebrating another great year 🎉🎉🎉

and wishing our wonderful clients a very Happy Christmas and a happy and prosperous 2025! 🎄🎊🤩

(Our office closure dates are Monday 23 December 2:00pm and re-opening Monday 6 January 2025)

While the ATO knows most small businesses try to report correctly, it understands that mistakes can happen. The ATO advi...
16/12/2024

While the ATO knows most small businesses try to report correctly, it understands that mistakes can happen.

The ATO advises taxpayers that it is important to get the following ‘basics’ right:

– using digital tools and business software to help track and streamline processes to increase the efficiency of their business;
– keeping accurate and complete records, which will help taxpayers meet their tax and super obligations and make lodging easier; and
– getting the right advice from trusted resources such as their registered tax professional or the ATO’s website, which can help taxpayers navigate change and uncertainty at any stage of the business life cycle.

If you ever have any questions, we are only a phone call away on 07 5449 9955.

Can staff celebrations attract FBT? 🎉🎄🥂🍾With the holiday season coming up, employers may be planning to celebrate with t...
09/12/2024

Can staff celebrations attract FBT? 🎉🎄🥂🍾

With the holiday season coming up, employers may be planning to celebrate with their employees.

Before they hire a restaurant or book an event, employers should make sure to work out if the benefits they provide their employees are considered entertainment-related, and therefore subject to fringe benefits tax (‘FBT’). This will depend on:

– the amount they spend on each employee;
– when and where the celebration is held;
– who attends — is it just employees, or are partners, clients or suppliers also invited?
– the value and type of gifts they provide.

Employers who do provide entertainment-related fringe benefits should keep records detailing all of this information so they can calculate their taxable value.

For more information, check out our website, or give us a call.

Address

Unit 4, 35
Noosaville, QLD
4566

Opening Hours

Monday 8:30am - 5pm
Tuesday 8:30am - 5pm
Wednesday 8:30am - 5pm
Thursday 8:30am - 5pm
Friday 8:30am - 5pm

Telephone

+61754499955

Website

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