2024/25 budget wrap up
Once again, we pick out the important bits for our business and personal clients
The Treasurer, Dr Jim Chalmers, has handed down the 2024/25 Federal Budget and it's a mixed bag.
Save yourself some time and read our concise summary for the bits most relevant to our business and personal clients.
Click below for our 2024-25 Federal Budget Summary.
the virtual accountant
Why I can do your tax anytime, anywhere.
Do you have one of those big old paper cashbooks? Do you avoid using email or telephone to correspond with people? Do you prefer paper to computers?
If you answered yes to any of these, stop reading. I’m not the accountant for you.
If not, keep reading. I’m about to make your life easier.
In the good old days, businesses would drop in and see their accountant with a briefcase full of paperwork. The accountant would take the briefcase, and in around 4 weeks would return it along with a copy of their BAS or tax return, and a big fat bill.
Times are changing. Out with the paper, the briefcases, and the big, expensive set of financials. In with the apps, the cloud-based software, and real-time reporting.
Progressive accountants are embracing technology to provide better value to their clients. Many are using Xero, arguably the most dynamic and powerful cloud-based accounting software on the market. The software, apps and online tools available today are mind-boggling, and, as business resources, are widely undiscovered. Tapping into them can save you time, money, and compliance fees.
Wait. Why is an accountant giving you tips to reduce your accounting fees?
Because if I make your job easier, I make my job easier. If I can spend less time preparing your tax return, I can spend more time helping you grow your business and providing you with real value.
I work from a home office. My clients are all over the state. Having a virtual office using cloud-based technology allows me to provide them with real-time information and advice wherever they are, and wherever I am. They could be sitting in caravan in Broome. I could be sitting in a caravan in Broome. The geographical barriers are gone.
If they want to see me, I go to them. However, usually a phone call, email, a zoom meeting or a skype is all we need. It saves us both time, and as the saying goes – “time is money”.
I have replaced my plethora of books and research publications with online content subscriptions. I have replaced my shelves of thick paper files with electronic files. I have replaced my huge computer server with iPads and apps and cloud-based software. I don't need a big sterile office. Everything that an accountant does can be done online using cloud-based technology. Time is saved, lag and waste are reduced, systems are more accurate and efficient, and subsequently, fees are lower.
You don’t need to be in the same town as your accountant. Or the same state. Or the same country! I’m travelling to Canada in August, and I’ll be lodging all my June BAS statements from somewhere in the Rocky Mountains. All I need is wifi and a comfy chair. I’m happy to do yours too.
If you’re headed to Broome, or you just want a reliable accountant to modernise your accounting systems, flick me an email to kate@priceperspective.com.au.
Let’s chat. Or skype. Anytime, anywhere.