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...
The Government has updated the legislation governing registered tax practitioners to mandate the reporting of significant uncorrected errors to the Tax Commissioner. The Government has introduced several changes to the Tax Agents Services Act 2009 that include...
You might have heard of tax offsets during tax time. To learn about tax offsets, how they work, and how you can save more on taxes with tax offsets, continue reading this blog post. Let’s get started: What are tax offsets? A tax offset minimises your payable tax on...
For many Australians, finding legal and effective methods to lower taxable income at the end of the financial year can offer substantial financial advantages. Whether you are a professional, business owner, or investor, understanding the available options can...
This blog post will shed light on tax-deductible donations in Australia along with what you are allowed to claim and what you can’t claim. Let’s get started: When a Gift or Donation is Deductible? You are allowed to claim a tax deduction for a gift or donation to an...