D&A Professional Services

09/05/2025

We are recruting an Office Coordinator, please share if you know someone suitable for the role! Apply in the link below!

18/03/2024

Making it easy for your customers to pay is an important part of your business function.

Getting paid helps reduce your accounts receivable administration and keeps your cash flow moving.

D&A has recently changed payment providers to Australian Based Pinch Payments which integrates seamlessly with Xero.

They have heaps of great functionality, such as the ability to set pre-determined payment plans that customers can set up themselves, pay invoices in bulk, and you can choose to on charge merchant fees!

Get in touch with us if you want to know more or contact Pinch to get set up!

The only payment gateway your business needs. Accept credit card payments and set up direct debit with your customers to automate invoice payments. No more late payments. Easy sync with Xero, MYOB and Quickbooks or API.

07/03/2024

Lots of customers ask us about seeking the services of a financial planner.

Largely, they have a misconception about where financial planners add value and what constitutes financial planning.

Often customers just need assistance controlling their personal expenditure. The first step for controlling your personal cash flow is to look at preparing a personal budget, looking at where you can reduce expenditure, and then monitoring your spending to ensure you are in line with your budget.

There are some great free tools online that you can access, and if you need assistance, please feel free to reach out to us.

https://moneysmart.gov.au/budgeting/budget-planner

https://files.moneysmart.gov.au/media/vxudqwql/budget-planner_moneysmart.xls

04/03/2024

A little bit about land tax again.

Did you know in Victoria that land tax applies at a higher rate if you hold properties in a trust versus holding them in your individual name?

Also, an SMSF is an excluded trust and therefore does not receive the surcharge rate, a mistake we often pick up on and assist customers in rectifying when preparing their SMSF accounts.

01/03/2024

Just thought I would post this out of interest as it often comes up as a question in our practice.

A little background, when you have an SMSF loan, once you pay down the loan you cannot redraw the loan, even if the bank has a redraw facility. (aka the loan can never increase in value)

That being said when you refinance your SMSF loan, you can capitalise the accrued interest and any costs of refinancing, in effect increasing the borrowing by the cost of replacing the original Limited Recourse Borrowing Arrangement.

26/02/2024

Did you know that Land Tax Rates in Victoria have dramatically increased in 2024?

Whilst as accountants we only have the authority to assist with the Australian Taxation Office for federal taxes, we like customers to be aware that they may be subject to a range of state-based taxes.

One of the more common situations is when you have a Victorian rental property. In this situation, you will be assessed for Land Tax based on the land value of the collective properties held in your name, subject to exemptions.

Please reach out to us if you would like further information!

Land tax applies for a calendar year. The rates shown apply for the 2024–2033 land tax years. For rates from the 2023 land tax year and earlier, go to Historical rates of land tax.

14/02/2024

🏠 Did you know?

When applying for a home loan, lenders often consider the maximum limit on your credit cards, regardless of whether you've used all of your available credit or cleared the balance at the end of each month.

They may also assume you're committed to repaying that maximum limit at a rate of 3% per month, which could impact the amount you're able to borrow for your home loan. 📉💳

Contact us now to speak with our in-house home loan guru Paul!

07/02/2024

Does that dream of your first home seem really far away?

At D&A Professional Services we will work with you to put a plan forward so you can get there.

There are heaps of exemptions, incentives, and schemes that can get you closer to that goal, here are just a few:

First Home Super Saver Scheme: (save tax and forced discipline while you save for your first home)
https://www.ato.gov.au/individuals-and-families/super-for-individuals-and-families/super/withdrawing-and-using-your-super/early-access-to-super/first-home-super-saver-scheme

Purchase your first home with a 5% deposit without paying lender's mortgage insurance:
https://www.housingaustralia.gov.au/support-buy-home/first-home-guarantee

Receive a stamp duty exemption (Victoria):
https://www.sro.vic.gov.au/fhbduty

And more!

If you are finding this space hard to navigate, reach out to start your journey with us, nothing makes us happier than helping clients achieve their dreams!

When you buy your first home on or after 1 July 2017, you may be eligible for an exemption or concession from duty. If you entered into a contract to buy your first home before 1 July 2017, you may be eligible for the first home buyer duty reduction. This duty assistance is available to eligible fir...

05/02/2024

Introducing Our In-House Mortgage Broker!

We are thrilled to share that D&A Professional Services now has an in-house mortgage broker, Paul.

With cost of living pressures and multiple rate rises over the past few years if you haven't reviewed your rates recently it is something you should get to sooner, rather than later.

D&A Professional Services is excited to be able to provide this valuable service which comes at no cost to our clients.

Furthermore obtaining finance or re-financing can often be a cumbersome process, therefore with your permission, we can lighten that burden by sharing your current information on file with Paul.

Don't put it off any longer and shoot your loan statements through to [email protected] or call us to book a chat with Paul.

Picture of Paul's dog Dexter for attention :-)

24/09/2023

Self Managed Superannuation Funds (SMSF's)

Do you have an SMSF or are you looking to establish one, or maybe you are an accountant or financial planner who needs assistance with their client's SMSFs?

🔹 Discover the Benefits of having your SMSF accounting and taxation prepared with Us 🔹

✅ Tax Efficiency: Benefit from potential tax advantages and strategies designed to optimize your superannuation savings.

✅ Transparency: We provide comprehensive reporting and support to ensure you remain informed and compliant.

✅ Expert Guidance: Our experienced team of accountants is here to guide you every step of the way, ensuring you make well-informed decisions.

Whether you have decided to establish a new SMSF or looking to enhance the management of your existing fund, we've got you covered. Our dedicated SMSF experts are committed to helping you achieve.

Contact us today to learn more about our SMSF services and how we can tailor a solution to fit your needs.