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JD Accounting Pty Ltd

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Australia
Perth, WA
JD Accounting Pty Ltd

Tax Preparation Business & Individuals, Business Services & Network Marketing Taxation Specialists. J.D. In addition, J.D.

Accounting offers a range of accounting services, including business advice, taxation and MYOB consulting. Accounting also works with clients in relation to the establishment and management of their self managed super funds.

19/06/2025

1. Non-charitable not-for-profits (NFPs) with an active Australian business number (ABN) need to lodge an annual NFP self-review return to confirm their eligibility to self-assess as income tax exempt.
2. The annual reporting requirement is designed to enhance transparency and integrity in the system, by ensuring only eligible NFPs access income tax exemption. This measure was announced by the Federal Government on 11 May 2021, with the first NFP self-review return required for the 2023–24 income year.
3. NFPs can lodge the NFP self-review return themselves using:
a. Online services for business;
b. the self-help phone service if they can't access online services; or
c. we, as your registered tax agent can also lodge the return on behalf of your NFP.
4. Your NFP self-review return was due by 31 October 2024, however for the first lodgment which applies to the 2023–24 income year, you can lodge up to 31 March 2025. This extension is part of the additional support the ATO are providing, to help NFPs lodge their first self-review return.
5. Each year after lodgment of the first NFP self-review, NFPs self-assessing as income tax exempt will confirm or update their information on a pre-populated return.

12/06/2025

1. If you have self-assessed as income tax exempt, then you have completed your lodgement requirements for this income year. You'll need to lodge an NFP self-review return again next income year.
2. To make future interactions with us simple and easy, make sure you regularly review your NFP's governing documents and keep your organisation's details up to date.
3. If you receive a taxable outcome after submitting your NFP self-review return, your NFP doesn't qualify for income tax exemption. Your NFP will not be required to lodge an NFP self-review return the following income year.
4. Your NFP will need to lodge a 2023–24 income tax return, or notify the ATO of a non-lodgement advice if you are under the $416 threshold and eligible to do so. To notify the ATO of a non-lodgement advice contact our office.
5. You have until 15 May 2025 to lodge your income tax return or non-lodgement advice, if your NFP has a standard income year ending 30 June. If you have an ATO-approved substituted accounting period, check your due date to lodge the 2023–24 income tax return as it is determined by your approved balance date.
6. The ATO has transitional support available for NFPs who determine they are taxable, including the 15 May 2025 concessional due date to lodge your 2023–24 income tax return, remission of any applicable general interest charge, and payment plans to allow any income tax liability to be paid progressively.

05/06/2025

1. The small business energy incentive is designed to help businesses improve energy efficiency and save on energy bills.
2. Businesses with an aggregated annual turnover of less than $50 million will have access to a bonus 20% tax deduction for the cost of eligible assets and improvements that support more efficient use of energy.
3. The incentive applies to eligible expenditure on assets between 1 July 2023 and 30 June 2024 (the ‘bonus period’).
4. The incentive also applies to eligible expenditure on improvements to existing assets incurred during the bonus period.
5. Up to $100,000 of total expenditure will be eligible for the incentive, with the maximum bonus tax deduction being $20,000.
6. The bonus deduction is separate and additional to other deductions you would ordinarily claim under taxation law.

15/05/2025

Are you an individual taxpayer who has work-related car expenses?
1. You use either of 2 methods to calculate deductions for car expenses: Cents per kilometre method, or Logbook method.
2. For the purposes of this article, we are discussing the cents per kilometre method. To calculate your deduction using this method, multiply the number of work-related kilometres you travel in the car by the rate per kilometre for that income year.
3. 'Work-related kilometres' are the kilometres your car travels in the course of earning your assessable income.
4. Use the rate for the income year for which you are claiming a deduction:
a. 2024–25: use 88 cents per kilometre
b. 2023–24: use 85 cents per kilometre
c. 2022–23: use 78 cents per kilometre
d. 2020–21 and 2021–22: use 72 cents per kilometre
5. You can claim a maximum of 5,000 work-related kilometres per car. You need to keep records that show how you work out your work-related kilometres.
6. The cents per kilometre rate covers all car expenses, including: decline in value, registration, insurance, maintenance, repairs, fuel costs. You can’t add any of these expenses on top of the rate when you work out your deduction using this method.

08/05/2025

1. Adopting good cash flow habits will help your business so you're always ready to meet your tax obligations and prevent a tax debt.
2. Follow our top tips to avoid getting your tax obligations caught up with your cash flow:
a. Use digital tools and software to automate and streamline your business operations. Look for tools or software that are designed to meet the needs of businesses like yours. For example, some tools can automatically calculate your live tax position as well as develop reports for GST, so you can spend less time on administration.
b. Set aside your GST, Pay as you go (PAYG) withholding and super from your cash flow so you have the funds available when it’s time to pay. Setting up another bank account for your tax and super, that is separate to your business bank account, could help you with this.
c. Plan ahead by managing your cash flow, so you know when you may expect money to come in and go out, and can better budget for income and expenses.
d. Keep complete and accurate business records. Make sure you update them regularly (for example, every week or month) and remember to back up your digital records regularly too.
e. Use us, as a registered tax professional - we can give you advice that is tailored to your circumstances and help you manage your tax and super.

01/05/2025

The ATO recently published their focus areas for small business - it shows you the current risks and behaviours that are attracting the ATO’s attention.

Most small businesses willingly participate in the tax and super system. However, some do not and they gain an unfair advantage over those who do.

The ATO actively detects, treats and addresses concerning behaviours to ensure all small businesses can operate on a level playing field, and continue to contribute to the Australian economy.
Their 3 key focus areas include:

business income is not personal income;

deductions and concessions; and

operating outside the system.

The ATO will continue to publish new focus areas quarterly. By being transparent about what attracts their attention, they want to ensure small businesses get it right from the start.

24/04/2025

The bill to change the annual indexation for study and training loans has received Royal Assent. This means that indexation is now based on either the Consumer Price Index (CPI) or Wage Price Index (WPI) – whichever is lower.

This change is backdated, taking effect from 1 June 2023. The new indexation rates for the two previous years are:

3.2% for 2023 year – reduced from 7.1%;

4% for 2024 – reduced from 4.7%.

If your study or training loan is in credit after the adjustment, the ATO will process a refund for the excess amount to your nominated bank account – if you have no other outstanding tax or Commonwealth debts.

For most clients, you don’t need to do anything.

17/04/2025

If you are registered for GST and you make a business purchase, you may be eligible to claim the GST you paid in the purchase price as a credit.

GST credits offset the GST you need to pay when you lodge your business activity statement (BAS). This will reduce the amount of GST you owe and may result in a refund.

If you are also eligible for fuel tax credits, you can claim credits for the tax included in the price of fuel you use in your business.

The best way to ensure you don't miss out on any credits is to lodge your BAS on time.

You need to claim your GST and fuel tax credits within 4 years of the due date of the earliest BAS in which you could have made your claim for the relevant credit. If you do not claim the credits within that time, you'll no longer be eligible to claim them.

The credits must be included in your assessment within the 4-year credit time limit. Lodging an amendment to your original assessment or a private ruling request does not mean you have claimed your GST credits and fuel tax credits.

We recommend you consider your options early and do not leave your credit claims to the last minute because you risk your credit expiring.

Remember to keep accurate records to support your claims and get help from your registered tax or BAS agent if you need it.

03/04/2025

1. An ETF is a managed fund that lets you buy or sell units on a registered exchange such as the Australian Stock Exchange (ASX).
2. When you invest in an ETF, you purchase units in a trust that owns investments, rather than owning the assets personally.
3. Many online trading platforms allow you to purchase ETF units yourself, or you can use a broker or financial adviser to buy units in an ETF.
4. There are many types of assets that can be held by an ETF, including:
a. Australian and international shares;
b. property and bonds;
c. precious metals and commodities;
d. foreign currency;
e. digital assets; for example, non-fungible tokens and crypto assets; and
f. units in other exchange traded funds.
5. You need to declare:
a. income from your ETF that comes as a distribution;
b. income from your ETF that you have opted to reinvest into a distribution reinvestment plan – this means you need to declare distributions even if you haven't received money from the ETF; and
c. any capital gains or losses when you sell or dispose of any ETF units for capital gains tax (CGT) purposes.

27/03/2025

1. There is nothing you need to do to prepare for the change. You will still have:
a. your same details – there is no need to set up a new myID. Your login details (including email address) and the identity strength you’ve set up on your device, and any other devices, will remain the same;
b. continued use – your existing app should automatically update to myID or you can manually update it from the App Store or Google Play. You can download the myID app any time once it’s available; and
c. access to services – you can still use the app to securely access a range of government online services.
2. When the change happens, you might see both myID and myGovID when using your app to log in to participating government online services. This won’t affect your access, and your Digital ID will remain fully functional and secure during this time.
3. The change from myGovID to myID aims to reduce the ongoing confusion between the myGovID app and myGov.
4. The new name for the Australian Government’s Digital ID app reflects the community’s understanding of Digital ID and demonstrates how a whole-of-government ID provider can help protect Australians from identity theft and fraud.

20/03/2025

1. If you buy commercial property, you may be eligible to claim GST credits:
a. for the GST included in the purchase price;
b. on expenses relating to buying the property – such as the GST included in solicitors' fees and on-going running expenses.
2. You can't claim GST credits if:
a. the seller used the margin scheme to work out the GST included in the price;
b. you buy property from someone who is not registered or required to be registered for GST;
c. you buy the property as a GST-free supply;
d. you're not registered for GST.

Address

Perth, WA

Opening Hours

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

Website

https://linktr.ee/jd_accounting

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