Latest Blogs
What Can Accountants Do to Help Manage Surprise Costs?
Running a business comes with many challenges and surprises. Generally, these surprises bring unexpected business expenses that can imbalance even the most carefully balanced budgets. Whether it’s an unforeseen regulatory change, sudden equipment failure, or urgent...
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...
Difference between Tax Accounting and Financial Accounting
Are you someone who finds it difficult to choose between tax accounting and financial accounting? Are you thinking of how it will affect your taxes and business in the future? Since they both are beneficial for managing your business finances, are there any...
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....
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...
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...
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...
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...
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...
Understanding Simpler Depreciation Rules for Small Businesses
As a small business owner, you must stay updated with the latest tax rules and regulations. However, many of you may be unfamiliar with or don’t have enough time to stay on top of tax laws. That’s why businesses prefer choosing the best tax accountant near their...
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...
RBA Holds Rates at 3.85%: How It Affects Your Business Strategy
In a decision that caught many commentators off guard, the Reserve Bank of Australia (RBA) kept the cash rate unchanged at 3.85% in July. While headline inflation has fallen within the RBA’s target range, lingering concerns about economic weakness and a softening...
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...
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...
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...
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...
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...