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New Tax Amendments from the Government and Regulators

New Tax Amendments from the Government and Regulators

From Government The End of the AAT  The Administrative Review Tribunal (ART) started operations and replaced the Administrative Appeals Tribunal (AAT) on 14 October 2024. The new tribunal functions similarly to the AAT and reviews the same types of decisions. While...

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Can I Claim Tax Accountant Fees on a Tax Return?

Can I Claim Tax Accountant Fees on a Tax Return?

You might be thinking about seeking help from a tax accountant to prepare and lodge your tax. However, many business owners avoid seeking help from tax accountants because of extra expenses. Now the question arises: are tax return accountant fees tax deductible? Read...

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How to Save Money with the Right Accountant?

How to Save Money with the Right Accountant?

Receiving high profits has become more important for business owners because of high competition. And if you want to receive a high return on investment, you must pay attention to the cash flow of your business. So, how can the best accountant in Melbourne help with...

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What You Need to Know About the Tax Return Deadline?

What You Need to Know About the Tax Return Deadline?

Staying on top of tax return lodgment deadlines is essential for both tax return accountants and taxpayers. Missed deadlines can lead to penalties and stress. When should you lodge your tax return in Australia? The period covered by your tax return is from July 1 to...

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A Tax Agent and An Accountant: What’s the Difference?

A Tax Agent and An Accountant: What’s the Difference?

You might have heard about tax agents and accountants. Most often, these two terms are used interchangeably when discussing financial matters and ensuring you are meeting your tax duties. However, the duties and tasks of these two professionals differ. Business owners...

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Common Tax Filing Mistakes and How to Fix Them?

Common Tax Filing Mistakes and How to Fix Them?

The ATO is an expert in identifying errors on tax returns, and with increasing tools and access each year, their job is becoming easier. So, if you are considering adding a few extra deductions or omitting income from your side gig, reconsider. Nowadays, the ATO...

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Understanding Tax Implications for Beneficiaries

Understanding Tax Implications for Beneficiaries

Apart from dividing your assets and knowing who should get what, it’s crucial to consider tax implications for how your assets will flow through to your beneficiaries. When assets shift from a deceased individual to a beneficiary of the estate, the impact of the tax...

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The Ban on Genetic Test Insurance Discrimination

The Ban on Genetic Test Insurance Discrimination

Under a new government proposal, there will be a total ban on genetic tests to prevent life insurers from discriminating based on adverse predictive genetic test results. Predictive genetic tests identify gene variants associated with hereditary disorders that may...

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Understanding Payday Superannuation

Understanding Payday Superannuation

From 1 July 2026, employers will be required to pay superannuation guarantees (SG) on behalf of their employees on the same day as wages and salaries, replacing the current quarterly payment schedule. This change aims to minimise the estimated $3.4 billion gap between...

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Should I Use a Tax Return Accountant to Avoid Tax Errors?

Should I Use a Tax Return Accountant to Avoid Tax Errors?

Many business owners and individuals choose to get help from a professional tax return accountant when it’s tax season. With increased accuracy, maximum tax returns, and less stress, it’s easy to see why Australians prefer using tax accountants to lodge their tax...

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Can a Tax Agent Help Increase Tax Returns in Australia?

Can a Tax Agent Help Increase Tax Returns in Australia?

You work hard to earn, so it’s crucial to get everything back that you are liable to. The best tax agent in Melbourne knows what potential tax deductions you can claim to help you get more money back. Do you find yourself comparing your tax refund with friends and...

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Factors Influencing the Cost of Accountants in Melbourne

Factors Influencing the Cost of Accountants in Melbourne

Managing business finances can be daunting, especially when you are concerned about your tax returns. Hiring the best accountants in Melbourne is not just beneficial, it's crucial. The cost of hiring a professional accountant can vary based on several factors. In this...

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How Much Can You Earn on JobSeeker?

How Much Can You Earn on JobSeeker?

You may have heard about JobSeeker payment. But do you know, who can get it, how much you can earn on JobSeeker, and how much you can get? To answer all your questions, we have sorted everything to help you understand everything about JobSeeker payment. What is a...

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Where Can I Find My ABN Number?

Where Can I Find My ABN Number?

Where Can I Find My ABN Number? Your business’s primary identifier is your ABN, and you must have it on hand. There are times when you might be unable to find your ABN. If you want to run a business in Australia, it’s important to have an ABN, which stands for...

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How to Speed Up Centrelink Claim?

How to Speed Up Centrelink Claim?

Want to know how to speed up a Centrelink claim? This blog post aims to streamline the complex task of understanding the claiming process. This comprehensive guide is for Australians who get payments through Centrelink. How do you speed up a Centrelink claim? We...

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Tax Evasion: Does the ATO Investigate Tax Evasion?

Tax Evasion: Does the ATO Investigate Tax Evasion?

Some Australian taxpayers misuse the tax and superannuation systems to receive financial benefits. The ATO is committed to preventing, identifying and bringing the tax perpetrators and financial crime into consideration. Let’s know more about tax evasion. What is tax...

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Is the RBA Responsible for the Economic State?

Is the RBA Responsible for the Economic State?

The politicians have expressed their opinions on the Reserve Bank of Australia's economic policy and their reticence to minimise interest rates in the face of community pressure. We will examine the actual data. Treasurer Jim Chalmers stated that global uncertainty...

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What are Tax Fraud Scams and How Can You Spot Them?

What are Tax Fraud Scams and How Can You Spot Them?

After logging into your myGov account, you find that your activity statements have been amended for the past 12 months, and a GST credit of $100k has been issued. However, you did not receive this $100k refund in your bank account. What should you do now? myGov...

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How to Choose the Best Accounting Firm in Australia?

How to Choose the Best Accounting Firm in Australia?

When running a business successfully, finding and choosing the right accounting firm is vital. A reliable accounting partner gives you insight into your business, helps with tax planning, and ensures tax compliance. However, with various options available, choosing...

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Why Do I Have to Pay PAYG Instalments?

Why Do I Have to Pay PAYG Instalments?

In Australia, the Pay As You Go (PAYG) instalment system is a crucial part of the country’s tax system. It is designed to help people with investments and businesses manage their tax obligations throughout the fiscal year. If you are not sure if you should pay PAYG...

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