Latest Blogs
How Does an Accountant’s Data Improve Business Decisions?
Decisions are made every day that can significantly impact a business’s future. That’s why it’s always suggested to have accurate data before making any decision for your company. These decisions are based on financial data gathered by an accountant. Reaching out to...
Fuel Tax Credit: What You Need to Know
You can claim credits for the fuel tax (excise or customs duty) that is included in the price of the fuel you use in your business activities. However, some fuels and activities are not eligible for these fuel tax credits, including: Fuel used in light vehicles with a...
Why do Small Businesses Need Good Accounting Help?
People often wait until they are in deep trouble before seeking professional help. For small business owners, reducing costs initially might seem sensible, but it’s important not to overlook the benefits of getting expert advice from taxation accountants. Having a...
What Would Trigger An ATO Audit?
The Australian Taxation Office (ATO) reviews numerous tax returns every year and checks warning signs like unusually high deductions, under-reported income, or inconsistent financial records. These audits are conducted to spot discrepancies that could refer to...
How Does An Accountant Handle Tricky Cash Flow Issues?
Cash flow is a crucial component of any business. It helps with daily operations, covers essential bills, and supports staff salaries. Yet, many business owners struggle to maintain effective cash flow. Issues like unforeseen expenses or delayed customer payments can...
When Do You Need to Report and Pay GST?
If your business is registered for GST, you must send tax invoices to your clients, gather GST and send it to the ATO with your BAS. There are a few ways you can easily manage: You can get help from a tax accountant who is well-aware of using business accounting...
Simple Accounting Tips to Help Your Business Grow
If you want to keep your business finances in order, it is crucial to pay attention to your business finances. Accounting is one of the crucial aspects of any business, and having an accurate and updated view of the financial condition of your company is crucial for...
What is the Time Limit for Tax Return Amendments to the ATO?
Individuals, trusts, partnerships, and corporations may make errors when filing their income tax returns for various reasons. Therefore, all taxpayers are allowed to correct their returns within the designated timeframes. When do you need to amend your tax return? You...
What Can a Tax Professional Do for Your Business?
Every business in Australia needs the right financial advice, which is far beyond basic compliance requirements. Getting help from professional taxation accountants in Melbourne has become crucial for startups and established companies in Melbourne seeking to optimise...
One Big Beautiful Bill: What Does It Mean?
You may have heard about a new U.S. tax bill, known as the One Big Beautiful Bill, but what does it mean for Australian investors, especially superannuation funds and small businesses with US exposure? Where are things at? Australian super funds currently have around...
Are Trust Funds Still Worth the Effort?
For many years, trust structures have been an important part of the Australian tax and financial system, providing asset protection and flexibility in how income is shared. However, recent rule changes and the increased complexity of managing trusts have made them...
Finfluencers: Bad Tax Advice Could Cost You
They are all over your Instagram and TikTok feeds, and they have huge followings, these are the so-called financial influencers, or “finfluencers”. While their advice might seem correct, we urge you to be cautious. Relying on unqualified sources can lead to serious...
Important Tax Update: ATO Interest Charges No Longer Deductible
Starting from 1 July 2025, carrying an ATO debt will become more expensive, as two types of interest charges imposed by the ATO will no longer be deductible. What are the interest charges? The ATO charges two types of interest: General Interest Charge (GIC): The GIC...
Div 296 Super Tax And Practical Things to Consider
Division 296 super tax is a controversial Federal Government proposal to impose an extra 15% tax on some super earnings for individuals if their total super balance (TSB) is above $3 million as of 30 June of the relevant income year. This measure isn’t law yet and...
Top GST Errors You Might Be Making And How To Fix Them
For all businesses, it’s essential to understand goods and services tax, but with various rules and guidelines, it’s easy to get confused. Many business owners ask: what are the common GST mistakes when reporting GST? And, more importantly, how you can avoid making...
Simple Ways to Get Your Business Ready for Tax Season
Tax season can be stressful and challenging for many business owners. Knowing what to mention and what you can claim can be difficult, but when you lodge a tax return through registered taxation accountants, your tax season will be smooth and stress-free. A registered...
How Can an Accountant Help Your Startup Grow?
Many business owners are not aware of the importance of seeking help from a reliable accountant. They don’t realise that many benefits to the business can be brought by an accountant. They provide strategic advice to save business money and boost revenue. They not...
Do You Need both a TFN and an ABN?
You may have heard of two terms: TFN and ABN. They may sound similar, but they are used for different purposes. Knowing the difference between a TFN and an ABN isn’t just a tax matter, it’s essential for staying on the right side of the ATO and keeping more of your...
Simplify Your Taxes: Easy Tips to Understand the Rules
If you are new to Australia or English is your second language, this blog post will help you learn about tips and rules to simplify taxes. In this blog, you will get answers to the most common questions regarding taxes. Why Do You Need to Pay Tax? As Australians, you...
Best Practices for Filing Taxes: A Guide for Businesses
Tax time can be overwhelming for many business owners, especially when they are not sure about the details or financial information of the company, which is required at the time of tax return lodgment. That’s why it’s important to be on top of everything in advance to...
Frequently Asked Questions About Tax Return
When it comes to tax season, you might have numerous questions in your mind. Many of you may ask several questions to their tax accountants, to ensure that they are on the right track. To answer all your questions regarding income tax, we have come up with answers...
What is a Good Financial Plan for Better Tax Results?
Tax time can be overwhelming for many Australian business owners. The fear of making errors and going through the tax consequences from the ATO can affect a business. However, with proper preparation and tax planning, small business owners can find it easy to navigate...
Common Tax Mistakes Small Business Owners Make
To run a small business successfully, it is essential to manage taxes effectively. However, the complexities of tax regulations and laws can result in common mistakes that could lead to audits or penalties by the Australian Taxation Office (ATO). Understanding these...
How Does Professional Accounting Help SMEs Grow Faster?
Small and medium-sized enterprises play a crucial role in the Australian economy, as they contribute to economic growth and job creation. However, with complex financial landscapes and growing compliance requirements, managing the finances of a business is becoming...
Quick Steps to Keep Your Taxes on Track Year After Year
In Australia, the tax return deadline can often be a significant source of stress and confusion for many individuals. For taxpayers, keeping track of this critical date is essential, as failing to meet it can result in a range of negative results. These may include...
Understanding Assets and Liabilities on a Balance Sheet
If you are running a business, you must know the financial status of your business, and one document that can provide you with a clear overview of your company’s financial health is a balance sheet. The balance sheet of a business defines its liquidity position and...
How can an accountant help you meet tax obligations?
Meeting tax obligations can be overwhelming for business owners who lack experience in handling tax matters. Professional tax accountants take the stress out of the equation by handling your tax affairs effectively. The key to streamlining tax compliance is planning,...
What is the most important aspect of tax compliance?
Running a business comes with its own challenges, and one of the most critical aspects, especially for new businesses, is staying compliant with company tax laws under the Australian tax system. There’s no value in making an effort to grow your business if you risk...
The Role of Accounting in Expanding Your Business
As you make business strategies to grow your business, it becomes essential to follow the best accounting practices. Good accounting practices not only ensure compliance with tax rules but also provide you with a clear picture of your company’s financial health. Our...
Post-Election Update: Changes for Individuals, Super & Small Businesses
The Labor Party has formed a government, achieving a majority in the House of Representatives on its own. In the Senate, Labor is expected to gain three more seats during the half Senate election. While Labor controls the House, it will still need some support to pass...