Latest Blogs
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...
How Do Small Business CGT Concessions Work?
As a small business owner, you must be aware of possible CGT concessions, eligibility criteria and how they work. We will share detailed information on CGT concessions to help you know how they work. What are the eligibility conditions for CGT concessions? To qualify...
How Good Tax Planning Can Help Your Business?
Taxi planning is essential for all individuals and businesses. It involves analysing numbers from the financial year and making a strategy for approaching your tax obligations. Tax planning becomes even more crucial when you face an economic crisis. In this blog post,...
What Every Small Business Should Know About Accounting?
You may have to face numerous challenges when you run your own business, as you have to fulfil various responsibilities. Finance management is an essential aspect of running a business successfully. Accurate accounting ensures your business will remain compliant and...
Payroll Tax Vs Income Tax: What’s the Difference?
Payroll Tax Vs Income Tax: What’s the Difference? To meet your company’s tax obligations, you must understand the difference between payroll tax and income tax. As an employer, you are responsible for managing these withholdings, but each is different and serves a...
What is PAYG Instalment and How Does It Work?
If you have recently received a letter from the ATO about PAYG Instalments, you might be wondering how it can impact your business tax obligations. Pay As You Go Instalment helps individuals and businesses manage their income tax payments throughout the year by...
What is the Difference between Assessable and Taxable Income?
In the Australian income tax system, income tax is imposed on taxable income during the fiscal year, from 1 July to 30 June. Now, you may have a question: what is total taxable income? How is taxable income different from assessable income? Learn about the difference...
Threshold for Tax-Free Retirement Super Increases
On 1 July 2025, the amount that can be transferred to a tax-free retirement account will increase to $2m. Each year, advisers await the release of inflation statistics. The reason for the transfer balance cap is straightforward: it is associated with the Consumer...
The Proposed Ban On Non-Compete Clauses
In the 2025-26 Federal Budget, the Government announced plans to ban non-compete clauses and “no poach” agreements for low- and middle-income workers. They will also consult on the use of non-compete clauses for high-income workers (currently anyone earning over...
Super Guarantee Rules Update for Venues and Gyms
Employers must pay a compulsory Superannuation Guarantee (SG) to those classified as employees according to SG regulations. The SG definition of an employee is extensive, and recent discussions have arisen regarding the rights of performers, gym instructors, and...
A Guide to Personal Tax Cuts – 2025-26 Federal Budget
Starting on 1 July 2026, personal income tax rates will be revised. On the final day of Parliament's session, the personal income tax rate reduction was confirmed from the 2025-26 Federal Budget. This modest 1% reduction affects the $18,201 - $45,000 tax bracket,...
FBT Obligation Tips for Small Business Owners
This blog will highlight an overview of FBT, how FBT applies, what deductions you are allowed to claim, and what FBT obligations you need to meet. What is Fringe Benefits Tax? Fringe Benefits Tax is a tax paid by employers on some benefits offered to their employees,...
Treasury Laws Amendment (More Cost of Living Relief) Bill 2025
A Bill has been introduced and passed by both Houses of Parliament that addresses individual income tax cuts and adjustments to Medicare levy thresholds, as announced in the 2025-26 Federal Budget on 25 March 2025. The Bill is now awaiting Royal Assent. Schedule 1...
Margin Scheme, Division 7A, Investment Trusts Withholding Regime & FBT Rates
Interim Decision Impact Statement – Bendel The ATO has also issued an interim decision impact statement in response to the Full Federal Court’s ruling in the Bendel case (Commissioner of Taxation v Bendel [2025] FCAFC 15). This case addresses whether a private...
Regulatory Update: Tax, GST Reporting, FBT and Child Care Subsidy Changes
Taxable Payments Annual Report The ATO reminds businesses to pay contractors for services covered by the taxable payments reporting system (TPRS). They must submit a taxable payments annual report (TPAR) by 28 August each year. The TPRS services include: Building and...