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So far 5eca has created 45 blog entries.

Understanding the Limits of Accountant’s Letters in Loan Applications

We are frequently approached with questions about the accountant’s letter in loan applications. In the course of our professional practice, requests for accountant’s letters to support loan applications are commonplace. It's crucial for our clients to be aware of both the capabilities and limitations of these letters. According to the Accountant's Letter Toolkit, which

How to Find us

How to find our office in Google. You can find our office with Google Maps if you take or download the QR Code and read it on the QR App. If you have any questions, please feel free to email admin@5eca.com.au

2022-12-20T07:44:27+00:00December 20th, 2022|Categories: ADMIN|Tags: , , , |

Client ID verification process

Dear  Clients, Due to ATO & TPB’s requirements, We need to check your ID verification prior to accepting new clients to prevent ID abuse by unauthorised persons. Even though the new proof of identity (POI) requirements will become mandatory in the latter half of 2022, We, FIve Elements Accounting & Advisory, adopted client ID

2023-01-06T02:07:37+00:00October 4th, 2022|Categories: ATO Update, ADMIN|Tags: , , , |

Introducing our New all in one Micor-Business Package for small business owners

Dear Small Business Owners, We are very pleased to introduce our New Micro Business Package for Small business owners. This package is designed for small business owners who have no or one employee. During your early years in business, grow your business in Five Elements Accounting & Advisory's Incubating Pool. You will receive everything

2022-10-04T05:07:29+00:00September 23rd, 2022|Categories: ADMIN|Tags: , , |

How to sell your business

We’re often asked the best way to sell a business. There are two key components at play in the sale of a business: structuring the transaction; and positioning the business to the market. Both elements are important and can significantly impact your result. Structuring the transaction covers areas such as pricing the business, the

2022-10-04T04:58:18+00:00September 22nd, 2022|Categories: ATO Update, Tax News|Tags: |

Tax & your family home

Tax & your family home Everyone knows you don’t pay tax on your family home when you sell it…right? We take a closer look at the main residence exemption that excludes your home from capital gains tax and the triggers that reduce or exclude that exemption. Capital gains tax (CGT) applies to gains you

2022-10-04T04:59:06+00:00July 22nd, 2022|Categories: ATO Update, Tax News|Tags: |

FY2022 Tax Time Targets

Tax Time Targets The ATO has flagged four priority areas this tax season where people are making mistakes. With tax season almost upon us the Australian Taxation Office (ATO) has revealed its four areas of focus this tax season. Record-keeping Work-related expenses Rental property income and deductions, and Capital gains from crypto assets, property,

2022-10-04T05:10:03+00:00June 22nd, 2022|Categories: ATO Update, Tax News|Tags: |

The top Christmas tax questions

The top Christmas tax questionsEvery year, we are asked about the tax impact of various Christmas or holiday-related gestures. Here are our top issues:. Staff giftsThe key to Christmas presents for your team is to keep the gift spontaneous, ad hoc, and from a tax perspective, below $300 per person. $300 is the minor benefits threshold

2022-04-14T04:01:01+00:00December 14th, 2021|Categories: Tax News|Tags: , , |

The introduction of the Director Identification Number (DIN)

How to set up your Director ID Directors are now required to register for a unique identification number that they will keep for life. What is a director ID? A director ID is a 15 digit identification number that, once issued, will remain with that director for life regardless of whether they stop being

2022-09-14T03:26:10+00:00November 12th, 2021|Categories: Accounting News, ADMIN, ATO Update|Tags: , |
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