While the hustle and bustle of operating and managing a business can occupy your mind, it’s important not to forget your superannuation obligations to your employees. Those who fail to... read more →
There are key differences between having a hobby and running a business, and they’re mostly to do with your tax, insurance and legal obligations. It's important to understand the characteristics... read more →
Small business owners may be able to claim deductions for the costs of using their home as a principal place of business when filing their income tax return. A home-based... read more →
Throughout the financial year, there may be periods where your business finds itself facing a recurring problem with its cashflow. Small businesses with cash flow issues may find themselves more... 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 →
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 →