Accountants Blog

Gold Coast based tax agent sentenced to 3 years for tax fraud

A Gold Coast-based tax agent has been sent behind the bars for three years after swindling nearly $200,000 from the Australian Taxation Office (ATO). She had lodged false BAS without her client’s knowledge and had been tipped off to the ATO. She has been banned for the maximum term of 5 years by the TPB, sentenced to 3 years in jail and ordered to shell out $158,845 in compensation.

Important end of financial year reporting dates

The end of the financial year can be a busy period for many businesses but it’s essential to lock in the required taxation reporting dates to ensure your business is financially up to date and compliant.

COVID-19 Business Support Update - 12 May 2020

We’ve put together a few points from the latest COVID-19 business support updates as well as links to places you can get further information if you need it.

COVID-19 Business Support Update - 8 Apr 2020

With the ever changing government guidelines and assistance, we’ve put together some important information that could be crucial to helping your business survive the COVID-19 pandemic restrictions. Update as at 8 Apr 2020.

Surviving an economic downturn

The Coronavirus, otherwise known as COVID-19, has hit and spread across the world at an alarming rate. It doesn't discriminate, affecting the old, the young, the rich and the poor and the number of infections is rising by the day.And, due to the spread of the virus, a range of industries are being limited, altered or shutdown altogether. So, how do you survive an economic downturn? Continue reading to find out more about how a range of people, including small businesses and individuals can survive as well as possible, as our accounting team offers pragmatic advice so you can continue after the COVID-19 pandemic.

Financial support and business survival in the COVID-19 era

The COVID-19 pandemic (Coronavirus) will affect everyone, young or old, small businesses to large corporations, sole traders to employees. With so much uncertainty it’s hard for the business owner to know what to do or where to turn. The accounting team at Bottom Line Control have some practical advice so your business has every chance of surviving the COVID-19 pandemic.

Are you fulfilling your tax and superannuation reporting obligations?

Are you fulfilling your tax and superannuation reporting obligations? This is the question that the ATO is asking, and insurers have been asked to provide the ATO with policy details for various lifestyle assets over a particular threshold.

Important Dates for Single Touch Payroll

We all know that employee tax and superannuation aren't the most exciting things that an employer gets to deal with, but they are very important and crucial for a good working business. The ATO have been looking at this for awhile, and over the last year or so have been overseeing the introduction of Single Touch Payroll for all businesses in Australia. But, what is Single Touch Payroll and what dates are relevant to you?

Bottom Line Control Reviews

Reviews

Bottom line Control, headed by Malcolm Chilman, have been by tax agent/accountant/book keeper for more than 10 years now, and I have nothing but praise for the efficient and cost effective way they go about their work. I have recently given them my SMSF as well and am impressed by the meticulous way he goes about the process of staying within the lines of the over-complex Superannuation law. Whether it is simple BAS bookkeeping or complex questions of tax law, Malcolm is always there to help. And if he does not know some intimate detail of our almost incomprehensible tax process, he knows where to find the answer. Every business has the occasional need for a quick answer, so one of the characteristics that I appreciate here, is Malcolm's ready availability, by phone and email.

Byron Scott

PA Apartments

Business Owner & Investor

40 Wholseley St, Woolloongabba, Qld 4102

Phone: (07) 3891 1742 | Email: info@PAapartments.com.au

Thank you for your support, and assistance over the past several years. I personally feel that from our cooperative services that Ram Automotive has been able to grow toward the sustainable company of which is today. Bottom Line Control has given myself a great understanding of the companies finances, and also through ongoing fiscal performance meetings. Now knowing what Ram Automotive can expect for the future. I look forward to an ongoing relationship with Malcolm and Bottom Line control, to secure our future within our community.

Matthew Katterns

Ram Automotive

Proprietor of Ram Automotive Coolum Beach

We changed all of our financials over to Bottom Line a few years ago and have been quite impressed with the service and advice we have received. Nothing is too much to ask of them. Thank you to Malcolm and staff for being there for us.

Wayne & Penny Rex

Rex and Turtle

Business owners and Property Developers

We switched to Bottom Line Control after realizing that our previous accountant was giving us incorrect advice and charging a premium for it. We have now been using Bottom Line Control for several years and have found Malcolm to be thorough and reasonably priced. He always finds ways to save money on our taxes. Malcolm and his staff are highly responsive and very easy to work with. We highly recommend.

Alex & Rebecca Watson

Equathon Horse Riding

PO Box 301 Noosa Heads, QLD 4567

Phone: (07) 5474 2665

Thanks Malcolm for saving me the stress of sorting through all the issues of self-employment, and the many confusing deductions and tax items associated with that. Although I was extremely late in lodging my tax return, it was not a problem for you, and you managed to get me a healthy refund when I was sure I was going to have a bill! I will certainly be using your services in the future and have already been recommending you to others.

Kim Anderson

The Anderson Outloook

Freelance Journalis

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