When it comes to work-related expenses, the Australian Taxation Office (ATO) allows employees to claim immediate deductions for depreciating assets that cost $300 or less.Β While this rule is straightforward,... read more →
As an employer, when you provide vehicles like sedans, station wagons, or passenger vans for your employeesβ private use, you might be offering a car fringe benefit. This applies to... read more →
Small businesses, especially family-run ones, require careful attention to payroll for closely held employees, such as family members, directors, and shareholders. The Australian Tax Office (ATO) mandates that all employers... read more →
Itβs important to be aware of how the tax-free threshold works, especially if youβre earning income from more than one job. Many people mistakenly claim the tax-free threshold from multiple... read more →
For businesses in Australia, providing fringe benefits to employees can be a valuable way to attract and retain talent, as well as incentivise performance. However, employers need to understand their... read more →
For businesses operating in Australia, navigating the intricacies of the Fringe Benefits Tax (FBT) is essential to ensure compliance with tax regulations and minimise financial liabilities. FBT is a tax... read more →
Itβs essential for property owners to understand the intricacies of deductions associated with their cherished holiday retreats. However, as the holiday season approaches, they may find that their holiday retreats... read more →
With more security and fraud-related scams targeting vulnerabilities and attempting to commit identity theft and fraud, the ATO has changed the process for how tax agents can access your information.... read more →
As a business owner, one of the perks is the ability to claim tax deductions for expenses related to motor vehicles used in your business operations. This includes cars and... read more →
At the worst time of your life, the last thing you want to think about is tax. When a loved one dies, however, their affairs must be dealt with at... 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 →
If youβve 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 →
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 βshortcutβ 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 →