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What Mistakes Could Get You in Trouble with the ATO?

What Mistakes Could Get You in Trouble with the ATO?

Regardless of whether you are running a small business or have an established business, you must prepare and file an accurate tax return to avoid tax penalties from the ATO. This is because no one wants to attract penalties or an ATO audit. While most business owners...

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Why You Need a Year-End Tax Review with Your Accountant?

Why You Need a Year-End Tax Review with Your Accountant?

When it’s the end of the financial year, it’s crucial to reflect, check, and plan your finances effectively. Whether you are a business owner, a salaried individual, or an investor, the End of Financial Year (EOFY) is a significant point in your financial calendar....

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Why Should You Trust a Professional with Your Finances?

Why Should You Trust a Professional with Your Finances?

In today’s increasingly complex financial world, the value of professional financial advice has become more essential. Whether you are preparing for retirement, managing an investment portfolio, or navigating ever-changing tax regulations, working with a qualified...

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Are You Missing Out on Tax Savings?

Are You Missing Out on Tax Savings?

Paying taxes is an unavoidable aspect of running a business, but are you paying more than you need to? Many business owners unintentionally overpay due to missed deductions, poor structuring, or a lack of professional guidance. By identifying tax inefficiencies and...

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Tax Refund Explained: When Will You Get Yours?

Tax Refund Explained: When Will You Get Yours?

Tax time in Australia can be stressful for many individuals and business owners. Understanding how a tax refund works can help ensure you manage your finances in the right way. Whether you are completing your own tax return or seeking help from a professional tax...

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Can a Tax Accountant Solve Your Business Tax Challenges?

Can a Tax Accountant Solve Your Business Tax Challenges?

Many business owners find it challenging to manage business tax matters. They struggle with complex tax rules and regulations, as well as tax audits and unexpected penalties. Tax issues can arise for several reasons: maybe it’s because of rapidly changing tax laws or...

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Is It Worth Paying an Accountant for Tax Help?

Is It Worth Paying an Accountant for Tax Help?

In Australia, tax time is accompanied by a mix of challenges, anticipation, and anxiety. Many business owners and individuals wonder if getting help from a tax accountant could help them increase their tax returns. This is the most common question: Do you get more tax...

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Does Using a Tax Agent Lower Your ATO Audit Risk?

Does Using a Tax Agent Lower Your ATO Audit Risk?

Preparing for tax returns can be stressful for many of you because of unfamiliarity with the tax return process. One common question that arises during tax season is: Will you get audited if you use the best tax accountant? Understanding how tax agents work and their...

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Superannuation Rates and Thresholds Updates

Superannuation Rates and Thresholds Updates

Super Guarantee Rate Now 12%: What It Means For Employers Starting from July 1, 2025, the SG rate has risen to 12% of ordinary time earnings (OTE). This marks the final step in the phased increase mandated by earlier reforms. What’s Changed? Previous rate: 5% (until...

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Luxury Cars: The Impact of the Modified Tax Rules

Luxury Cars: The Impact of the Modified Tax Rules

As luxury vehicle purchase continue to rise, it is important to understand certain tax systems features that could affect the actual cost of acquisition. The tax rules usually lead to less favourable results for those using luxury cars for business or...

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Interest Deductions: Risks and Opportunities

Interest Deductions: Risks and Opportunities

This tax season, individuals are asking whether the interest on a loan can be claimed as a tax deduction. It’s an important concern since the treatment of interest expenses can have a significant impact on your overall tax situation. However, the rules surrounding...

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How to Keep Your Business Compliant with Regulations?

How to Keep Your Business Compliant with Regulations?

Running a business comes with a lot of responsibilities. You try to keep things organised to run your business smoothly, ensuring your employees are happy and staying on top of legal obligations. Tax compliance is about avoiding penalties, keeping your business...

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How Does an Accountant’s Data Improve Business Decisions?

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...

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Fuel Tax Credit: What You Need to Know

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...

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Why do Small Businesses Need Good Accounting Help?

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...

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What Would Trigger An ATO Audit?

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...

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How Does An Accountant Handle Tricky Cash Flow Issues?

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...

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When Do You Need to Report and Pay GST?

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...

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Simple Accounting Tips to Help Your Business Grow

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...

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What Can a Tax Professional Do for Your Business?

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...

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One Big Beautiful Bill: What Does It Mean?

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...

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Are Trust Funds Still Worth the Effort?

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...

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Finfluencers: Bad Tax Advice Could Cost You

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...

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Div 296 Super Tax And Practical Things to Consider

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...

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Top GST Errors You Might Be Making And How To Fix Them

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...

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