As the end of the financial year (EOFY) approaches, it’s time to get your business records in order and ensure everything is ready for tax time. EOFY can feel overwhelming,... read more →
You might want to top up your spouse’s superannuation for plenty of reasons. Maybe you’ve accumulated more super than they have and want to even things out for retirement. Or... read more →
Finding yourself increasingly more busy as the EOFY approaches, particularly with meeting your tax obligations? It’s coming on tax time, so it’s time to ensure you’re prepared for your tax... read more →
As the end of the financial year approaches, businesses need to review their financial affairs and ensure compliance with regulatory requirements. Whether you're a newly established business, an existing one,... read more →
National Employment Standards Update From 1 January 2024, the NES included a right to superannuation contributions. This means that most employees covered by the NES can take court action under... read more →
In recent years, the superannuation guarantee (SG) has gradually increased by a set percentage. This increment is part of a continuous rise toward reaching 12% gradually, predicted to be achieved... read more →
As the year draws to a close, the significance of meticulous record-keeping cannot be overstated. It serves as the backbone of your year-end procedures, facilitating tax compliance, cash flow management,... read more →
If you have a rental property, are you aware of the rules around claiming second-hand depreciating assets? Second-hand depreciating assets are depreciable items previously used or installed and ready for... read more →
If you’ve made a major investment in the last financial year, any income made from it will need to be included on your tax return. Any income earned from investments... read more →
Superannuation planning is just as important as tax planning at the end of the financial year. As such, it is an area that needs to be carefully reviewed and checked... read more →
As the financial year comes to a close, now is the time to visit your accountant or tax advisor to discuss tax planning for your business in 2023. At the... read more →
In some circumstances, superannuation contributions can be claimed on your tax return if they are made to a super fund or retirement savings account. However, these circumstances are limited and... read more →
As we approach the end of the financial year, it is very important to consider the tax impacts of certain decisions that are made by your family trust—namely, the signing... read more →
There are no more shortcuts when it comes to claiming your work-related expenses this financial year! The popular ‘shortcut’ method is no longer available to be used for the 2022-23... read more →
It may seem like the importance of record-keeping is overly stressed by us, but it’s a critical part of the wrap-up of the year-end. Good record-keeping makes it easier to... read more →
Maximise your tax deductions for the 2021-22 financial year by conducting a thorough review of your records. But to do that, you need to know where to start. Here are... read more →
Benjamin Franklin once famously said, “if you fail to plan, you are planning to fail”. He may not have been referring specifically to businesses but it is an apt statement... read more →
Tax deductions introduced by the Australian Taxation Office to lessen the impact of COVID-19 are approaching the end of their eligible timeframe. To ensure that you or your business do... read more →
The calculation of income tax for businesses becomes more complex as business activities and income streams grow. There are two primary considerations that arise when calculating income tax: assessable income... read more →
This time of year many clients take the opportunity to have a proactive tax and compliance planning strategy before the end of the financial year in order to maximise tax... read more →