TCBS Accounting & Advisory

TCBS Accounting & Advisory We help individuals and businesses gain clarity over their finances. Based in Sydney. Clients across Australia.
📩 Get in touch to review your finances

We keep it simple: helping you understand your numbers, stay compliant and not overpay on tax.

“Can I pay myself a salary as a sole trader?” This is one of those questions that sounds simple but can get confusing ve...
10/06/2026

“Can I pay myself a salary as a sole trader?”

This is one of those questions that sounds simple but can get confusing very quickly.

As a sole trader, you are not separate from your business. That means you generally do not put yourself on payroll like an employee.

When you take money out of the business, it is usually treated as drawings, not wages.

And here’s the part many sole traders miss:

💡 Drawings do not reduce your tax
💡 You still need to set money aside for tax
💡 PAYG instalments may apply
💡 Super is not compulsory for yourself, but it is still worth planning for
💡 If you have staff, payroll rules still apply to them

Understanding this early can save you from a painful tax bill later.

At TCBS Accounting & Advisory, we help sole traders understand their numbers, stay compliant and plan properly, so there are fewer surprises at tax time.

Need help setting things up the right way?

📩 Book a chat with us.

📍 Ermington, Sydney | 🌐 tcbs.net.au | 📞 0451452245 | 📧 [email protected]

🚨 Great update for small businesses!The $20,000 instant asset write-off became now law.If your business has an aggregate...
09/06/2026

🚨 Great update for small businesses!

The $20,000 instant asset write-off became now law.

If your business has an aggregated turnover < $10 million, you may be able to immediately deduct some assets costing less than $20,000 each (excluding GST)

This could include things like:

• Tools and equipment
• Computers and technology
• Office furniture etc.

But there are a few things to keep in mind:

💡 It applies per asset
💡 The asset must be first used or installed ready for use in the relevant financial year
💡 It cannot be part of another asset
💡 It can reduce taxable income sooner, but when you sell the asset it'll become your assessable income, so it is not always a great idea to write something off immediately rather than depreciating it.

This is a great opportunity if you were already planning to upgrade, invest in equipment or improve your business setup.

But good tax planning is not just about spending money to “save tax.” It is about making smart decisions that support your cash flow and business needs.

Thinking about purchasing assets for your business? Talk to us first.

📩 Send us a message and let’s check how this could work for you before you commit.

📍 Ermington, Sydney | 🌐 tcbs.net.au | 📞 0451452245 | 📧 [email protected]

06/06/2026

Accountant? Yes.
But some days it feels like being a detective, teacher, therapist, lawyer, magician and emergency contact all at once. 😅

Because behind every tax return, messy record or ATO letter, there is someone who just wants clarity and calm.

That is the real work.Helping people feel in control again.
Which one does your accountant become the most? 😂

Just got married? Congratulations! 💍While marriage is a beautiful life update, it can also affect your tax situation in ...
04/06/2026

Just got married? Congratulations! 💍
While marriage is a beautiful life update, it can also affect your tax situation in ways many couples do not realise.
You still lodge your tax return individually but the ATO may look at your combined household income for certain things.

This can impact areas like:
• Medicare Levy Surcharge
• Private Health Insurance Rebate
• Certain government benefits or offsets
• Future tax planning around income, investments and super

It does not mean tax suddenly becomes complicated but it does mean it is worth checking where you both stand.
This is especially important if one of you runs a business, owns an investment property, has variable income or receives government benefits.

A quick tax check-up after marriage can help you avoid surprises later and make sure you are not missing anything important.
📩 Send us a message and we can help you understand your next steps.
📍 Ermington, Sydney 🌐 tcbs.net.au 📞 0451452245 📧 [email protected]

Bookkeeper vs accountant. They work closely together but they do different jobs.A bookkeeper keeps your day-to-day recor...
02/06/2026

Bookkeeper vs accountant. They work closely together but they do different jobs.
A bookkeeper keeps your day-to-day records in order. They record income and expenses, reconcile your bank accounts, process payroll and make sure your books are up to date.

An accountant takes those records and looks at the bigger picture. They help with tax returns, BAS, compliance, business advice, financial analysis and planning ahead.
In simple terms:
A bookkeeper helps keep your numbers accurate.
An accountant helps you understand what those numbers mean.

And for many small businesses, the best setup is having both. One keeps everything clean during the year and the other helps you make better decisions, stay compliant and plan properly.

At TCBS Accounting & Advisory, we offer both bookkeeping and accounting support, so your business does not have to choose between clean records and smart advice.

📩 Need help with your books, BAS or tax planning? Send us a message.
📍 Ermington, Sydney 🌐 tcbs.net.au 📞 0451452245 📧 [email protected]

Seen the headlines about the proposed $1,000 instant tax deduction? Before you throw out your receipts, let’s clear this...
01/06/2026

Seen the headlines about the proposed $1,000 instant tax deduction? Before you throw out your receipts, let’s clear this up.

This is not a $1,000 cash refund.
It is a proposed standard deduction for work-related expenses, expected to be available from 1 July 2026, meaning it would first apply when lodging 2026 to 2027 tax returns.
If introduced, eligible taxpayers may be able to claim a $1,000 deduction without needing receipts for certain work-related expenses.

But here’s the important part.
If your actual work-related expenses are more than $1,000, you may still be better off claiming the actual amount. And to do that, you will still need proper records.
So no, this does not mean you can stop keeping receipts.

It also does not apply to this tax time. Current deduction rules still apply.
The safest move? Keep your records, know your numbers and get advice before assuming the standard deduction is the best option for you.

📩 Not sure what deductions apply to you? Send us a message.
📍 Ermington, Sydney 🌐 tcbs.net.au 📞 0451452245 📧 [email protected]

30/05/2026

Your tax agent and financial adviser are not the same person.

One helps with tax, compliance and ATO obligations.
The other helps with investments, super, insurance and wealth planning.
Both matter, but they do different jobs.

The best outcome usually happens when the right experts work together.
📩 Not sure who to ask? Send us a message and we’ll point you in the right direction.

Missed your BAS deadline? Don’t pretend it didn’t happen. It happens more often than you think. Business gets busy, clie...
28/05/2026

Missed your BAS deadline? Don’t pretend it didn’t happen.
It happens more often than you think. Business gets busy, clients need attention, money is coming in, and BAS quietly gets pushed to “later.”

But the ATO does not forget.
If you miss your BAS deadline, you may face failure to lodge penalties, daily interest on amounts owing, and if it becomes a pattern, it can put your business on the ATO’s radar.

The biggest mistake is avoiding it.
The smartest move is to lodge it as soon as possible, even if you cannot pay the full amount straight away. Once the numbers are clear, you can look at your options, including setting up a payment plan with the ATO.

Ignoring it turns a manageable problem into an expensive one.
Behind on BAS? Get it sorted early, move on and stay in control.

📩 Need help lodging or setting up a payment plan? Send us a message.
📍 Ermington, Sydney 🌐 tcbs.net.au 📞 0451452245 📧 [email protected]

“Can I just pay myself a dividend from my Trust?” Short answer: no. This is a common mix-up, but it matters. A company p...
26/05/2026

“Can I just pay myself a dividend from my Trust?”
Short answer: no.

This is a common mix-up, but it matters.

A company pays dividends to shareholders.
A Trust makes distributions to beneficiaries.
They are not the same thing, and using the wrong structure or wording can create tax mistakes, incorrect reporting and unwanted ATO attention.

Trust distributions can also carry different types of income, such as business income, rental income or capital gains, and the beneficiary is usually the one who pays tax on it.

The simple rule:
If you have a Trust, you are dealing with distributions.
If you have a company, you are dealing with dividends.

Not sure how your business should be paying you? Get advice before moving money around.
📩 Send us a message and we’ll help you understand your structure properly.
📍 Ermington, Sydney 🌐 tcbs.net.au 📞 0451452245 📧 [email protected]

Thinking about renovating your rental property? 🏠 Before you start painting, replacing, upgrading or calling the tradie,...
25/05/2026

Thinking about renovating your rental property? 🏠
Before you start painting, replacing, upgrading or calling the tradie, it is important to know how the ATO treats renovation costs.

Some costs may be claimed straight away, like repairs and maintenance that simply bring something back to its original condition.
But other costs, like a new kitchen, bathroom, deck, carpet, blinds, dishwasher or air conditioner, may need to be claimed over time through depreciation.

And here is where landlords often get caught.
If you fix problems that already existed when you bought the property, the ATO may treat them as capital costs, not immediate repairs. Even if the work looks like a repair.

A good rule of thumb?
Repairs restore. Improvements upgrade.

If you have done a major renovation, getting a quantity surveyor’s depreciation schedule can also help you avoid missing deductions you may be entitled to.

Not sure whether your rental renovation is deductible now or later? That is exactly the kind of question worth asking before tax time.
📩 Send us a message if you need help understanding your rental property deductions.
📍 Ermington, Sydney 🌐 tcbs.net.au 📞 0451452245 📧 [email protected]

Address

Suite 5, 6B Betty Cuthbert Avenue
Rydalmere, NSW
2115

Opening Hours

Monday 8:30am - 6pm
Tuesday 8:30am - 6pm
Wednesday 8:30am - 6pm
Thursday 8:30am - 6pm
Friday 8:30am - 6pm
Saturday 8:30am - 2:30pm

Website

Alerts

Be the first to know and let us send you an email when TCBS Accounting & Advisory posts news and promotions. Your email address will not be used for any other purpose, and you can unsubscribe at any time.

Contact The Business

Send a message to TCBS Accounting & Advisory:

Shortcuts

Share

Category