If you made a contribution to a superannuation fund on behalf of your spouse who has a low income or not working, you may be liable to a tax offset. Learn more about if you can claim your spouse's super contribution tax offset. How to make a super spouse contribution?...
Electric cars have had an up-and-down journey, starting with excitement, then almost disappearing, and finally making a strong comeback. Fringe benefits tax (FBT) does not apply to eligible electric cars and related car expenses. The Fringe Benefits Tax (FBT)...
It is always beneficial to claim potential income deductions and concessions. The Small Business Income Tax Offset is such a benefit for small business owners in Australia. It helps you reduce the tax amount you pay on your business income when you have to lodge your...
If you are lodging your tax return for the first time, then this blog is for you. Tax return lodgment is one of the most crucial steps that every Australian citizen should take. In this blog post, we’ll discuss what you should do if you are preparing and lodging a tax...
When starting a new business, you must know about your tax obligations. Meeting tax obligations is crucial to avoid unnecessary penalties or fines from the ATO. If you are unaware of tax obligations for your business in Melbourne, you can reach out to small business...
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...
The ATO has started two data-matching programs that impact investment property owners and those who hold expensive lifestyle assets. Investment property What investment property owners declare and claim in their personal income tax returns is a constant focus for the...
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...
Waiting for your tax refund to show in your bank account can be an overwhelming experience, especially if it takes longer than expected. The Australian Taxation Office (ATO) is responsible for processing several tax returns each year, and various factors affect the...
When you lodge a tax return each year, do you get the right tax refund amount you are liable to? Are you looking to maximise tax refund but don’t know where to begin and don’t want to get into difficulty with the ATO? To get the right tax refund amount you are...