Welcome!
Hi There,
It has been a crazy start to the year! From the TPB updates, to lots of tax returns being lodged and everything in between.
If you have any questions or are unsure about anything, I'm here to help. Just reach out!
Let's get into it!
Highlights Over The Last Few Months
There has been a lot of things to celebrate over the last 3 months. Here is a few of the highlights:
- We have lodged over 500 returns and Activity Statements since July - Well done all!
- We had another student graduate the program! - Well done Claudia!
- The Accounting Academy turned 1 in July - Where has the time gone?!
- We became Xero Gold partners
Courses Released and Feedback Request
3 courses have (finally!) been released. You will have received an invite to the courses. Please check your inbox and let me know if you have any issues.
The courses that have been released so far are:
- Individual Tax Returns with Xero
- Company Tax Returns using Xero
- Tax Agent Onboarding Course
There are more courses coming up, including:
- Company Tax Returns using LodgeIt
- Activity Statements using Xero Tax
- Division 7a Loans
- Rental Property Schedules
Your feedback would be greatly appreciated as this helps me to develop more focussed and better quality courses.
You can access the courses here.
Webinars
We will start hosting monthly webinars to help you with your learning and knowledge. My goal is to give you as many resources as possible.
Again, your feedback would be greatly appreciated as it helps us improve and give you more valuable tools and knowledge.
This months webinar is on the importance of workpapers. In this session, we will explore why we do them, what purpose they serve, how to complete them and Q&A.
You can register for this months webinar here.
Reminders
Meetings
Please remember to book your meetings in and send me an email outlining:
- The problem
- Your research
- Your suggested solution
This preparation helps us get the most out of our meetings and ensures we can work efficiently together whilst also preparing you for when you have your own licence.
Timing:
- Meetings must be booked at least one day in advance.
- Iām available on Tuesdays and every second Wednesday.
You can find the meeting link here.
Knowledge base
Remember that we are creating a knowledge base. I will start releasing more articles from this week. Your feedback is also appreciated here, in terms of the articles that have already been written, and your thoughts on future articles.
Access the Knowledge Base
TPB Determination Updates
After all the webinars and updates in July, the TPB and the treasurer have delayed the updates and are consulting with the accounting bodies and the industry more broadly. The consultation will wrap up in December 2024 with the larger firms having to comply from 1 January 2025, and smaller firms like ourselves, from 1 July 2025.
What does it mean?
- There will still be breach reporting, albeit a watered down version
- The start for us will be delayed until July 2025
- We should always act ethically and ensure that we justify anything with the use of workpapers linking to the legislation, tax determinations and case law and justifying our application.
If you have any concerns, please let me know so we can work out a plan.
You can read more on the TPB website here.
Movember Fundraiser
This year I am growing a moustache for Movember. I'm cheating a little as I have already started growing mine š¬.
The reason I have decided to do this (other than having a great excuse to grow a moustache) is to commemorate friends I have lost to suicide and to raise awareness and support for mental health generally.
I have a goal of raising $1,500 and every little bit helps.
If you would like to donate, you can do so using this link.
Wrap Up
Thank you for taking the time to read through this newsletter.
If there is anything you would like to see, or if you have any feedback on this newsletter, let me know.
As always, if you have any questions, please reach out.
Have a great week!
Cheers,
Daniel
