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 →
One of the most important decisions you have to make before you start a business is what structure your business will be operating under. This will be reflected in all... 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 →
The Federal Budget has reintroduced the $20,000 Instant Asset Write-Off to benefit small businesses, amidst the myriad of measures announced by the government. The instant asset write-off will return for... 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 →
At our accounting firm in Newcastle, Australia, we take pride in providing exceptional financial services to individuals and businesses in the area. Our team of expert accountants offers a wide... read more →
As a taxpayer, you may likely have come across the term pay-as-you-go (PAYG). PAYG is generally a good thing, but there can be confusion between PAYG withholding and PAYG instalments,... read more →
Your tax file number (TFN) is a critical piece of information in your possession and should be a constant companion throughout your life. However, there are times when a TFN... read more →
Starting from July 2022, the Australian Government has implemented a new law called the Electric Car Discount Bill. It provides a Fringe Benefit Tax exemption for eligible electric vehicles, which... read more →
Starting a partnership may be a high-yielding decision whether you are in the business game or setting your sights on a new business venture. A partnership business structure is an... read more →
With a new norm surrounding how Australians work (hybrid, remote or office-based), there has been a change in how work-related expenses will be claimed this year during tax season.Where once... read more →
Based on a JP Morgan Chase Business Leaders Outlook survey in January 2023, it appears that business leaders in Australia are exhibiting a cautious but positive outlook regarding the economy.... read more →
Coming out of the holiday period is usually a slow time for businesses but there’s never been a better time to get on top of things.A new year brings business... read more →
The coming new year of 2023 may bring you a fresh start regarding your business adventures. You may even be looking to start your next adventure on your terms. Why... read more →
The liability of an employer does not start and end at the office door. Employers should understand that their liability extends to outside events affiliated with their staff’s employment (such... read more →
At the end of the year, you may be looking for extrinsic ways to thank your hardworking employees or faithful customers/clients.A work Christmas/end-of-year party may be a method employed by... read more →
You must make a binding death benefit nomination to maintain control and certainty over who will inherit your superannuation assets after you pass away. Contrary to what you may think,... read more →
Superannuation may not be the first thing that springs to mind as a self-employed individual, but just like how looking after your tax and business expenses benefits you, superannuation is... read more →