Apurv Bhalla CPA profile image

Apurv Bhalla CPA

Accountant at Success Tax Professionals

Member Since February 2013

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26 FOLLOWERS

Apurv is a Qualified CPA Accountant & Registered Tax Agent from Sydney Area. Already a Bachelor of Commerce he stared his Australian accounting journey with Masters of Accounting Degree from Central Queensland University and working for local Accounting firm in Silverwater NSW. Apurv has worked in Accounting and tax industry in various areas such as Sydney, Central Coast, Parramatta, South Sydney, Liverpool and Ingleburn and other Sydney Region.

Qualified skills

Taxation
Accounting
Payroll
Bookkeeping
Business Consulting

Reputation

Apurv Bhalla CPA answered this question

How do you choose the right business partner?

I have experienced in past that partnerships only work when the partners have different and defined roles to perform in the organisation. This reduces the chances of any arguments. If every partner tries to work on similar tasks then work becomes very hard. Thus partners need to be patient, has business acumen and be able to understand extent of their roles as well,

Apurv Bhalla CPA answered this question

Cassidy Poon
Cassidy Poon, Head of Digital & Social Media at LogicalTech Group

Server, Networking and Security

How do you identify and prevent dastardly digital downloads?

Well a person needs to be careful regarding these things themselves......Little knowledge is important ....but how will they this knowledge and why?

Apurv Bhalla CPA answered this question

What has been your experiences with open source accounting software packages?

I know one software www.eazybooks.com.au.

Its good if you are startup and its free. 

Apurv Bhalla CPA answered this question

What are the features of business accounts for sole traders?

Hi Rosella,Most business accounts do allow you to export the statements and transactions in Excel/Qif files ect.For shopping carts and credit card payments directly usually you will hav eto get a merchant account linked to your business account and then linked to your website.Paypal payments can be recieved in any business account. This service is provided by Paypal.RegardsApurv Bhalla

Apurv Bhalla CPA answered this question

Ananda Raj Pandey
Ananda Raj Pandey, Developer at SavvySME

Outsourcing

Are there better alternatives to oDesk?

We are an outsourcing company and we started it with a view to provide better alternative than Odesk and other contractor sites. Instead of talking with someone in other part of the world our clients meet with us and we are able to discuss their requirements face to face if they are local ot Sydney area. Otherwise we contact them through phone ect. Another advantage is that we provide Invoice in AUD$ with GST and so clients save cost or paying in USD ect.

So yes there is a better alternative to ODesk.

Apurv Bhalla CPA answered this question

Is ad revenue you receive from an app a 'sale' for GST purposes?

Hey Eric,

Usually the money you get from outside is export and thus carries no GST. Money received from Australian carries GST. You should proportionating. Exports are GST free. Which also means that if you paid money to overseas guys to develop the app ect is also GST free so you cant claim that. 

 

Apurv Bhalla CPA answered this question

Ananda Raj Pandey
Ananda Raj Pandey, Developer at SavvySME

Taxation

Do I need health insurance to save on paying tax?

Hi Anand, Basically if you believe that you need private health insurance then if you delay then you will be charged loading by private health insurance funds. Its based on your age. If you do not have hospital cover with an Australian registered health fund on the 1st of July following your 31st birthday and then decide to take out hospital cover later in life, you will pay a 2% loading on top of your premium for every year you are aged over 30. PLUS If your income is < than $84000 (single) and < than $168000 (couple) you do not pay medicare levy surcharge.

Apurv Bhalla CPA answered this question

Difference In Company And Personal Tax Return If Working At Home

Hi Eric, There are lots of issues here.

The area is to be separate from a living area such as it can be separately identifiable as an office used to run your Business. Then if that is a room you may use floor area% age or if room sizes are same Room/All rooms. say 1/3 or 1/4 but that would be an approximation.
Your company will be a small business if your annual turnover is < than $2m.
Expenses must be allocated as a percentage of your Business, Personal for Income producing activities and Private expenses. Business will be allocated to your company, Personal for income producing activities will form part of you personal tax return. Private portion is what is left non deductible.
Laptop bought in company name immediate write off. If bought in personal name, then depreciation if value is > than $300.00
Company and you are separate legal entity so please do not mix up the incomes and expenses.If it is PSI then all the profit will be attributed to you.
anything else please feel free to ask....

 

Business Structure

Business Structures. Which ones to choose from?

Every start-up business has this question in mind. “Which business structure is best for me and my business?” There are four main business structures used in Australia namely Sole Trader, Partnership, Company and Trusts. All structures have some advantages and disadvantages. Let’s know about these one by one. First and most simple form of business structure is sole trader. Usually a sole tr...

Apurv Bhalla CPA answered this question

Can someone recommend a good password management system?

Hi Ivana, I have tried but couldnt find any software which could manage passwords. I usually keep all in an excel.The browsers usually asks you to save passwords when you login for first time. There some softwares which offer to save passwords from your chrome or firefox browsers but the question is should these be trusted?

Apurv Bhalla CPA answered this question

Apurv Bhalla CPA
Apurv Bhalla CPA, Accountant at Success Tax Professionals

Information Technology

What expenses can I claim as IT professional in tax return?

http://successtaxprofessionals.com.au/tax-returns-what-expenses-can-i-claim-as-an-it-professional/

 

Apurv Bhalla CPA answered this question

Brent Hall
Brent Hall, CEO at HelloMedical

Accounting

Should I use an accounting firm or independent contractor?

I would suggest use a simple software like Eazybooks and record your income and expenses at your own pace,  then just send your documents to independent contractors. This will save you fees.

Apurv Bhalla CPA answered this question

Has anyone had any experience with the media game and can share?

No, Never used this site. I went there but looks like its mainly for journalists? You need login/subscription to view full articles. Site is a bit unclear.

Apurv Bhalla CPA answered this question

Heidi Sheridan
Heidi Sheridan, Business Owner at Guava Virtual Marketing

Starting a Business

What are the best software packages for startup small business?

For Australian based startups I would suggest Eazybooks.com.au. It is very friendly invoicing solution. Works well too. It has Australian support and low cost as well.

Apurv Bhalla CPA answered this question

What is your favorite app and why?

My favorite app are Viber and Whats app. Most of my small business clients are on those and in order to save cost of calling and messageing we use these applications. You can talk  and text free with these applications.....

Business Structure

Business Structures. Which ones to choose from?

Every start-up business has this question in mind. “Which business structure is best for me and my business?” There are four main business structures used in Australia namely Sole Trader, Partnership, Company and Trusts. All structures have some advantages and disadvantages. Let’s know about these one by one. First and most simple form of business structure is sole trader. Usually a sole tr...

Apurv Bhalla CPA answered this question

How do you choose the right business partner?

I have experienced in past that partnerships only work when the partners have different and defined roles to perform in the organisation. This reduces the chances of any arguments. If every partner tries to work on similar tasks then work becomes very hard. Thus partners need to be patient, has business acumen and be able to understand extent of their roles as well,

Apurv Bhalla CPA answered this question

Cassidy Poon
Cassidy Poon, Head of Digital & Social Media at LogicalTech Group

Server, Networking and Security

How do you identify and prevent dastardly digital downloads?

Well a person needs to be careful regarding these things themselves......Little knowledge is important ....but how will they this knowledge and why?

Apurv Bhalla CPA answered this question

What has been your experiences with open source accounting software packages?

I know one software www.eazybooks.com.au.

Its good if you are startup and its free. 

Apurv Bhalla CPA answered this question

What are the features of business accounts for sole traders?

Hi Rosella,Most business accounts do allow you to export the statements and transactions in Excel/Qif files ect.For shopping carts and credit card payments directly usually you will hav eto get a merchant account linked to your business account and then linked to your website.Paypal payments can be recieved in any business account. This service is provided by Paypal.RegardsApurv Bhalla

Apurv Bhalla CPA answered this question

Ananda Raj Pandey
Ananda Raj Pandey, Developer at SavvySME

Outsourcing

Are there better alternatives to oDesk?

We are an outsourcing company and we started it with a view to provide better alternative than Odesk and other contractor sites. Instead of talking with someone in other part of the world our clients meet with us and we are able to discuss their requirements face to face if they are local ot Sydney area. Otherwise we contact them through phone ect. Another advantage is that we provide Invoice in AUD$ with GST and so clients save cost or paying in USD ect.

So yes there is a better alternative to ODesk.

Apurv Bhalla CPA answered this question

Is ad revenue you receive from an app a 'sale' for GST purposes?

Hey Eric,

Usually the money you get from outside is export and thus carries no GST. Money received from Australian carries GST. You should proportionating. Exports are GST free. Which also means that if you paid money to overseas guys to develop the app ect is also GST free so you cant claim that. 

 

Apurv Bhalla CPA answered this question

Ananda Raj Pandey
Ananda Raj Pandey, Developer at SavvySME

Taxation

Do I need health insurance to save on paying tax?

Hi Anand, Basically if you believe that you need private health insurance then if you delay then you will be charged loading by private health insurance funds. Its based on your age. If you do not have hospital cover with an Australian registered health fund on the 1st of July following your 31st birthday and then decide to take out hospital cover later in life, you will pay a 2% loading on top of your premium for every year you are aged over 30. PLUS If your income is < than $84000 (single) and < than $168000 (couple) you do not pay medicare levy surcharge.

Apurv Bhalla CPA answered this question

Difference In Company And Personal Tax Return If Working At Home

Hi Eric, There are lots of issues here.

The area is to be separate from a living area such as it can be separately identifiable as an office used to run your Business. Then if that is a room you may use floor area% age or if room sizes are same Room/All rooms. say 1/3 or 1/4 but that would be an approximation.
Your company will be a small business if your annual turnover is < than $2m.
Expenses must be allocated as a percentage of your Business, Personal for Income producing activities and Private expenses. Business will be allocated to your company, Personal for income producing activities will form part of you personal tax return. Private portion is what is left non deductible.
Laptop bought in company name immediate write off. If bought in personal name, then depreciation if value is > than $300.00
Company and you are separate legal entity so please do not mix up the incomes and expenses.If it is PSI then all the profit will be attributed to you.
anything else please feel free to ask....

 

Apurv Bhalla CPA answered this question

Can someone recommend a good password management system?

Hi Ivana, I have tried but couldnt find any software which could manage passwords. I usually keep all in an excel.The browsers usually asks you to save passwords when you login for first time. There some softwares which offer to save passwords from your chrome or firefox browsers but the question is should these be trusted?

Apurv Bhalla CPA answered this question

Apurv Bhalla CPA
Apurv Bhalla CPA, Accountant at Success Tax Professionals

Information Technology

What expenses can I claim as IT professional in tax return?

http://successtaxprofessionals.com.au/tax-returns-what-expenses-can-i-claim-as-an-it-professional/

 

Apurv Bhalla CPA answered this question

Brent Hall
Brent Hall, CEO at HelloMedical

Accounting

Should I use an accounting firm or independent contractor?

I would suggest use a simple software like Eazybooks and record your income and expenses at your own pace,  then just send your documents to independent contractors. This will save you fees.

Apurv Bhalla CPA answered this question

Has anyone had any experience with the media game and can share?

No, Never used this site. I went there but looks like its mainly for journalists? You need login/subscription to view full articles. Site is a bit unclear.

Apurv Bhalla CPA answered this question

Heidi Sheridan
Heidi Sheridan, Business Owner at Guava Virtual Marketing

Starting a Business

What are the best software packages for startup small business?

For Australian based startups I would suggest Eazybooks.com.au. It is very friendly invoicing solution. Works well too. It has Australian support and low cost as well.

Apurv Bhalla CPA answered this question

What is your favorite app and why?

My favorite app are Viber and Whats app. Most of my small business clients are on those and in order to save cost of calling and messageing we use these applications. You can talk  and text free with these applications.....

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