Tax
The Tax Time toolkit for small business is now available
31 July
Get ready for tax time with ATO small business Tax Time toolkit. The 2024 Tax Time toolkit includes useful information, tools, calculators, learning resources, and other support and services. This toolkit is your one-stop-shop for help during...[Read More]
Tax deductions for home-based business expenses
31 July
How to claim tax deductions for home-based business expenses if you operate some or all of your business from home. What is a home-based business? A home-based business is one where an area of your home is set aside and used exclusively as a...[Read More]
Tax breaks on ‘big, dumb’ utes cost the public $250m
24 July
Australian taxpayers lost out on a quarter of a billion dollars in revenue in 2023 thanks to a generous tax loophole for “big, dumb” American-style utes, a report says. Large utes such as those made by Chevrolet and Ram are being subsidised as...[Read More]
Call to tax companies that replace workers with AI
17 July
Businesses that replace workers with artificial intelligence tools should pay additional taxes, an inquiry will hear, as well as calls for restrictions on the use of the technology and greater government oversight. The calls are expected at the...[Read More]
Controversial ‘travel tax’ behind border security boost
17 July
Tourists are being charged more to leave Australia, as the federal government attempts to bolster biosecurity funding. An additional $47.1 million had been delivered to the biosecurity system after a change to the government’s fees and charges,...[Read More]
Navigating ownership changes: A comprehensive guide for business owners
11 July
Changing a business’s ownership structure can be a complex process, often necessitated by various circumstances, such as partnership disputes, divorce, retirement, or the sale of the business. Regardless of the reason, it’s crucial to...[Read More]
Occupation and industry specific guides to use for tax returns
3 July
Income and allowances to declare and the expenses you can claim a deduction for in your occupation or industry. Using our guides Our occupation and industry guides help you to complete your tax return, use these guides to: work out what income...[Read More]
Some useful tips to grow your superannuation
27 June
Retirement is a period most people eagerly anticipate. It’s that wonderful stage of life when you can finally unwind and spend your time as you please. You can even spend retirement focusing on the businesses you’ve been planning and have put...[Read More]
Small Business – Get ready for tax time
19 June
Are you ready for tax time? This might be your last chance to make any tax-deductible purchases before this financial year ends on 30 June. See if there are any tax-deductible items your business needs, or any concessions you can...[Read More]
The Essential Role of Accountants in Tax Minimisation and Financial Reassurance
20 June
Navigating the complexities of tax obligations can be daunting for both individuals and business owners. With ever-changing tax laws, intricate regulations, and the constant risk of errors and penalties, managing taxes effectively requires more than...[Read More]
Overview about business record-keeping requirements so you meet your tax, superannuation and registration obligations.
12 June
You are legally required to keep records of all transactions relating to your tax, superannuation and registration affairs as you start, run, sell, change or close your business. This includes: any documents related to your business’s income and...[Read More]
Reasons to hire a bookkeeper
6 June
Did you ever hire a bookkeeper to help you keep track of your expenses and tax obligations? If not, find out why now may be the best time to do so. Bookkeeping is an essential component of any organisation. To focus on other tasks, such as...[Read More]
Top 10 tips for developing a business exit strategy: Business Succession and Estate Planning
30 May
Given all the hard work that building up a business takes, it can be hard to say goodbye – so it’s important to do it right. Developing an exit strategy well in advance allows you to have control over your small business’s future while...[Read More]
Changes are coming for trust tax returns
22 May
From 1 July, there’ll be changes to the way you report and submit trust tax returns. Income tax reporting changes under the Modernisation of Trust Administration Systems (MTAS) will come into effect on 1 July for small business owners who are...[Read More]
Maximising tax savings: Top 10 End of Financial Year tips and the value of professional advice
23 May
The end of the financial year (EOFY) is a critical period for individuals and businesses alike. Proper planning and organisation can lead to significant tax savings and ensure compliance with tax laws. Here are ten essential EOFY tax tips and...[Read More]