Would you like a receipt with that? Tax & Bookkeeping

The clearance racks, the red tickets, and the annual advertisements are saving the date, but June 30 is not just sale season for car dealerships and fashion retailers, it’s Australia’s D-Day for dotting the I’s and crossing T’s of both personal and business accountancy and bookkeeping.

Now, we hate to sound like a high-school teacher but this is one of those assignments that cannot be left to the last minute. Preparing for the end of the financial year begins…well at its beginning, but you’ve still got time to get all your ducks in a line. It’s all about records! Not to be confused with the smooth sound of vinyl, these same-name collectables are paperback or digital and each one is a potentially tax-deductible proof-of-purchase. In preparation for tax-time you need to collect and file your business receipts like a first-time mother documents her newborn; meticulously. Preferably in a dated and categorised format e.g. ‘office expenses’ or ‘education expenses.’ Yes, that’s a category of it’s own. If you’re eligible, your learning can be tax-deductible!

As we explored in our last blog, the Australian Tax Office recognises self-education expenses. You can claim on expenses like course fees and textbooks on the condition that your course leads to a formal qualification and meets the requirements of sustaining or advancing your skills and/or potential income in your current employment. For more information on what is claimable, visit the Government webpage: www.ato.gov.au.

Speaking of tax, our QTS course, Certificate IV in Bookkeeping, is just $250* as part of a Government funded program initiated in 2013 to support ‘Higher Level Skills.’ This nationally recognised program can lead to occupational opportunities that include: BAS Agent, in-house or small business bookkeeper or freelance/contract bookkeeper. Bookkeeping suits an organised, precise, numbers-minded person with good analytical and problem solving skills. Bookkeepers are the all-rounders of accountancy and are responsible for managing a business’s flow of money. So, if numbers are your niche contact QTS for the 4-1-1. We have the course to make tax-time your prime time with the Certificate IV in Bookkeeping.

QTS offers 24/7 support with a personal study coach, career guidance team, and counselors to guide you through your Nationally-recognised course. Study in your time and in your home with study solutions that work with your lifestyle. With new educational tax-deductions and Government-funded subsidies on already economical prices, increased job opportunities and earning potential, as well as flexible study and payment plan options; QTS is where it all adds up.

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About the Author
Quality Training Solutions (QTS) is Registered Training Organisation (RTO), delivering nationally recognised courses. We offer a range of Certificate and Diploma courses as well as customised training and executive level courses. All courses and services are designed with flexible learning in mind and are tailored to meet the developmental needs of employers and individual students.

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