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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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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? 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...

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...

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...

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...

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...

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...

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,...

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,...

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...

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...

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...