Elysium Accounting

Personal Services

Financial Planning Life Insurances Loans and Finances Personal Income Tax Property Investment and Development Retirement Planning Salary Packaging Superannuation

Business Services

Bookkeeping Business Development Business Start up Business Valuations Compliance Services Salary Packaging Superannuation Tax Consulting

About Us

About Us Case Studies Social Impact Meet the Team Contact Us

News & Resources

News & Resources News Resources

Close Modal Button

Book your free assesment

Name(Required)

First

Email(Required)

Phone(Required)

About Us

News & Resources
- News
- Resources

Our Services
- Personal Services
- Business Services

Back to finance news

Nadia Ng

14 Sep 2023

Want advice from an expert?

Read More

Free Assessment

Elysium offers a free, in person, financial assessment.

Follow Us

🌟 Celebrating a year of giving back! 🎉

In the 2024 financial year, thanks to our valued clients who completed our feedback form, we've had the honor to donate to impactful charities on your behalf. Your feedback fuels our commitment to making a positive difference in our community. 🌍💙

#GivingBack #CommunitySupport #ClientAppreciation

🌟 Welcome to the New Financial Year! 🌟

Ensure your 2024 tax return is smooth by confirming your income statement is "Tax Ready." Check the post for easy instructions on how to find this info.

Let's make this year financially successful!

📊💼 #NewYear #TaxTips #FinancialSuccess

🏢📅 Starting July 1, 2024, new rules on Victorian commercial property transactions!

🚨 A fresh state tax will replace stamp duty, impacting sales after July 1. Here’s what you need to know:

🔹 New tax on commercial and industrial properties, based on unimproved value.
🔹 No stamp duty on subsequent purchases if the property remains commercial.
🔹 Government loans available to spread stamp duty payments over 10 years.

Stay informed before buying or selling! Contact us with any questions. 📞💬

#CommercialProperty #VictoriaTaxChanges #realestatenews

A friendly reminder our office will be closed on Monday 10th June for the King's Birthday Public holiday. 🏖📊

🚨 Tax Tips for Businesses Before 30 June! 🚨

As the end of the financial year approaches, here are some key strategies to consider for maximising your tax savings:

💼 Instant Asset Write-Off: Though reduced to $20,000 for 2024, it’s a smart move to replace any needed business assets. Ensure they’re installed and ready to use by 30 June.

📉 Bad Debts: Review your Trade Debtors ledger and write off any unrecoverable debts before 30 June.

📦 Stock Levels: Adjust for any obsolete stock that has no resale value.

💰 Super Contributions: If self-employed or with a Capital Gain, consider making a superannuation contribution. Ensure it clears by 30 June and inform the fund of concessional contributions. Be mindful of contribution caps.

🗓️ Employee Super Payments: Make your June quarter super payment before 30 June to ensure it’s tax deductible this year.

🧾 Delay Invoicing: Delay invoicing customers until the next financial year, if cash flow permits.

🏢 Prepaid Expenses: Prepay up to 12 months of rent or interest for a deduction this year, if cash flow allows.

🔧 Repairs and Maintenance: Bring forward any necessary equipment repairs or services to before 30 June.

Remember, these strategies reduce your taxable income, not the tax amount itself. Always consider your cash flow before implementing any strategy.

Need help? Contact us today! 💼💡

#TaxTips #EOFY #BusinessFinance #TaxSavings

The 2024 Federal Budget brings a mix of small wins and continued strategies. While there aren't major reforms for businesses, there are some key highlights:💰📊

- Personal tax rate changes from July 2025 are set to proceed, benefiting all taxpayers.
- The immediate asset write-off for small businesses extended to June 2025.
- Superannuation on paid parental leave starting July 2025.
- Lower indexation rates for HELP debts.
- Energy bill relief: $300 for households and $325 for small businesses.

Plan ahead and feel free to reach out with any questions!
#FederalBudget2024 #TaxUpdate #SmallBusiness #financialplanning

Contact Details

Phone:(+61 3) 9720 6811

Email:mail@elysiumafs.com.au

Mailing:PO Box 9249, Scoresby, VIC, 3179

Our Locations

Footer phone icon

Scoresby

1/2 Keith Campbell Court, Scoresby, VIC, 3179

Get Directions

Directions Arrow Icon

Footer map icon

Malvern

Suite 9, 1 Milton Parade, Malvern, VIC, 3144

Get Directions

Directions Arrow Icon

Footer map icon

Monbulk

2 David Hill Road, Monbulk, VIC, 3793

Get Directions

Directions Arrow Icon

Business

Bookkeeping Business Development Business Start up Business Valuations Compliance Services Salary Packaging Superannuation Tax Consulting

Business

Bookkeeping Business Development Business Start up Business Valuations Compliance Services Salary Packaging Superannuation Tax Consulting

Personal

Financial Planning Life Insurances Loans and Finances Personal Income Tax Property Investment and Development Retirement Planning Salary Packaging Superannuation

Personal

Financial Planning Life Insurances Loans and Finances Personal Income Tax Property Investment and Development Retirement Planning Salary Packaging Superannuation

Quick Links

Case Studies
Resources
Contact
Blogs
About

© 2024 Elysium Accounting & Financial Solutions Pty Ltd | All Rights Reserved | ABN 67 704 847 486 | 'Liability limited by a scheme approved under Professional Standards Legislation.'

Terms Of Use Privacy Policy