As the Fringe Benefits Tax (FBT) year ends on 31 March, businesses should ensure their car mileage logbooks are up to date. Maintaining an accurate logbook is crucial for employers... read more →
As the new year begins and the holiday season comes to a close, many business owners are transitioning back to work with fresh energy and renewed focus. The first few... read more →
As the holiday season approaches, many homeowners may consider renting out their homes or a part of them to earn extra income, particularly in areas with high tourist traffic. Platforms... read more →
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. While this rule is straightforward,... 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 →
It’s important to be aware of how the tax-free threshold works, especially if you’re earning income from more than one job. Many people mistakenly claim the tax-free threshold from multiple... read more →
Making the most of available tax deductions for your business can be an important aspect of starting the new financial year. It’s why planning and strategising with your tax advisor... 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 →
It’s 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 →
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 →
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 →
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 →
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 →
These days, your tax return is almost like an honesty test. From Centrelink payments to health insurance, child support to bank interest, the ATO sees all and seemingly knows all.... read more →
Property is a solid investment opportunity for those looking to increase their financial security. If you are a landlord, you may be looking for ways to reduce your tax liability... 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 →
Your Work-Related Tax Deduction Checklist For This Year’s Tax Return Made EasyThe end of the financial year is coming up (30 June), and you may be looking for ways in... read more →