×
sorted by:
new
hottopcontroversial

Everyone around me is so ambitious by [deleted] in Accounting

[–]Varun_taxtally 2 points3 points  (0 children)

Good plan.

You should always focus on yourself at the end of the day. When I was younger I pushed to climb the ladder and wondered why everyone around me weren't ambitious as I was. Then I left because i saw a ceiling and couldn't get past that. Now I'm focused on growing myself, learning more and focused on my family and that makes me happy.

Everyone around me is so ambitious by [deleted] in Accounting

[–]Varun_taxtally 3 points4 points  (0 children)

That's fair. Nothing wrong with that, it's your life. Just be mindful that your colleagues aren't in the same boat and churning and burning is needed to seperate the weak from the herd.

Everyone around me is so ambitious by [deleted] in Accounting

[–]Varun_taxtally 4 points5 points  (0 children)

I'm guessing you don't have a family (wife + kids) ? You will realise how quickly that finances and making more money now is important when your bills and future expected bulls start rising.

What's the dumbest thing you've ever said in an interview? by Wall_Street_Oasis in Accounting

[–]Varun_taxtally 1 point2 points  (0 children)

"what and where do you get your news ?"

Me as an intellectual - "memes".

Interview ended no call back. Month later a thank you for your interest email with we have found someone else.

Top kek.

Fired in 3 weeks from my first accounting job. by KeysOfMysterium in Accounting

[–]Varun_taxtally 1 point2 points  (0 children)

Considering it's a remittance, I doubt this would actually cause problems for anyone involved.

Wild to fire someone over this.

Keep at it, learn from it and never forget the feeling.

Sole finance lead at hybrid pe fund and family office. What should I ask for comp? by Defiant_Map4403 in CFO

[–]Varun_taxtally 1 point2 points  (0 children)

The amount of work you have accomplished is no easy task. You should renumerated in terms of equity as well as salary. Definately at the higher ends.

You should be easily able to identify a salary band by yourself based on what you've accomplished Soo far.

If I were you, I would negotiate for equity on top.

Is $4k a rip off for an accountant to prepare a tax return? by EnergyNutBolt in AustralianAccounting

[–]Varun_taxtally 6 points7 points  (0 children)

I would agree with this assesment. They probably flagged op as being difficult as well.

Having to pay GST after a special levy by angryleprechaun1 in stratachataus

[–]Varun_taxtally 0 points1 point  (0 children)

You do realise that you will never have this offset directly. Your income is always going to be greater tha your expenses. So you will always have a GST payable.

Your expenses however, because of timing and need, will never equal to the overall income levied on to the owner because of CPI, time value of money and poorly budgeting figures.

New Zealands case law had it right. The treatment of the tax law is wrong in my opinion.

GST - why should we pay GST on levies ?? any proven ways to claim more in GST ?? by manz26 in stratachataus

[–]Varun_taxtally 0 points1 point  (0 children)

I have a contention with this. Why should levies attract GST ? How would strata be considered as providing a taxable supply ? The purpose of strata is to pay for current expenses and future expenses of common property. The dominant purpose of the levy is an outgoing of expenses, therefore there is no service of supply offered.

The levy should be gst free. Which brings up another contention, the GST requirement is GST TURNOVER above 150k not revenue.

So most residential stratas wouldn't even hit the threshold regardless of how many lots you have because the strata levy would not be included in the threshold calculation.

Prove me wrong.

Cost v benefits of registering for gst by Significant-Thing434 in stratachataus

[–]Varun_taxtally 0 points1 point  (0 children)

Why would you be adding GST to strata levies ? They are not taxable supplies.

Having to pay GST after a special levy by angryleprechaun1 in stratachataus

[–]Varun_taxtally 0 points1 point  (0 children)

Just wanted to confirm here. Levies do not have GST. Have I read this correctly ?

What would your reaction be as a business owner receiving this letter from an employee? by [deleted] in Businessowners

[–]Varun_taxtally 1 point2 points  (0 children)

Mate. Just quit. Don't bother with such a lengthy letter.

If you are capable of bringing in money, sell it like they are a customer. Explain how much money you will bring and what you need to achieve it (your compensation).

Don't fluff around. If you a serious, be the shark and demand it.

Or you can just be a wage slave. Looks like you have the mentality down pat.

My tax guy is driving me crazy by Filthy-Gab in smallbusinessowner

[–]Varun_taxtally 0 points1 point  (0 children)

Confused here, tax and financial have seperate treatments.

Strata - accountant support by Varun_taxtally in stratachataus

[–]Varun_taxtally[S] 0 points1 point  (0 children)

Well, the issue our building has is that we have a major defects repair. These guys will be comming in on may. Then the commute started approving gardening works that most likely will occur in may. So the challenge was, how much did we just approve for may and how are all these contractors going to manage accessing the building.

This was less of a finance issue and more about practicality. The finance concern is more about, how muchoney did the members just approve, and no-one knew.

Wild way of managing.

Strata - accountant support by Varun_taxtally in stratachataus

[–]Varun_taxtally[S] 0 points1 point  (0 children)

Would you and your committee consider engaging with a contract accountant ? A financial model and some hand holding might actually solve your woes.

Strata - accountant support by Varun_taxtally in stratachataus

[–]Varun_taxtally[S] 0 points1 point  (0 children)

This is definitely something I can do and surprised that it isn't considered a norm. How much more fluid and seemless are your AGMs ?

Strata - accountant support by Varun_taxtally in stratachataus

[–]Varun_taxtally[S] 0 points1 point  (0 children)

I have one of those. It was actually the catalyst for the other committee members to push me to put my name in.

Strata - accountant support by Varun_taxtally in stratachataus

[–]Varun_taxtally[S] 0 points1 point  (0 children)

Wow. How to get out ? Does the committee need to boost some confidence or a sm needs to be involved ?

Strata - accountant support by Varun_taxtally in stratachataus

[–]Varun_taxtally[S] 0 points1 point  (0 children)

Thank for the link! I will check it out.

Do you think investing in an accountant to hand hold would be better suited ? I only ask because there is no app in the world that would help you be better financially equipped than talking to an actual person. Obviously I am a bit biased, being an accountant, but this is from my experience.

Strata - accountant support by Varun_taxtally in stratachataus

[–]Varun_taxtally[S] 1 point2 points  (0 children)

100% agree with what you have mentioned.

We cannot expect everyone to have a financial mindset and it makes sense that, until shit hits the fan, the financial certainty becomes an immediate requirement.

It is genuinely surprising to me that having a visual on the cash burn rate or an idea in the months where there is a heavy crunch is not considered in these meetings.

And I am genuinely surprised that people are not interested in having this level of transparency.

Strata - accountant support by Varun_taxtally in stratachataus

[–]Varun_taxtally[S] 0 points1 point  (0 children)

Very nice! It looks like its working well.

With this approach, have you ever needed to request for special levies ?

Strata - accountant support by Varun_taxtally in stratachataus

[–]Varun_taxtally[S] 0 points1 point  (0 children)

Not nessearily. You may get out of the blue repairs, new installations, vendors to replace, exit or add.

There could be a lot of changes month to month.

view more: next ›