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Tips for Small Businesses When Using a Tax Accountant

Tips for Small Businesses When Using a Tax Accountant

Are you a small business owner? Trying to check the taxation process can be difficult to keep up with. However, by receiving help from a professional tax accountant in Melbourne to manage your tax matters, you can get relief from the tax burden. This blog post will...

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Fringe Benefits Tax (FBT) Time has Come

Fringe Benefits Tax (FBT) Time has Come

If you are an employer providing benefits to your employees, then you need to be ready to file your fringe benefits tax return and pay the FBT you owe. Fringe benefits tax is time here. From 1 April, the FBT year starts. To know more about FBT year, read this blog. Do...

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Div 7A Basics Tax Agents Keep Getting Wrong, ATO Warns

Div 7A Basics Tax Agents Keep Getting Wrong, ATO Warns

The tax office found most breaches in relation to misunderstandings of basic concepts, that’s why it has started a year-long lecture series on Division 7A. Tax agents across the board still keep getting Division 7A wrong by avoiding basic concepts, the ATO says....

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How to Become a Registered Tax Agent?

How to Become a Registered Tax Agent?

Are you looking for ways to become a registered tax agent? If yes, then you must go through the requirements. A registered tax agent has in-depth knowledge regarding tax matters. They are skilled, qualified, and responsible for following a strict code of conduct. In...

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The Fringe Benefits Tax (FBT) Traps

The Fringe Benefits Tax (FBT) Traps

The fringe benefits tax (FBT) year will end on 31st March. So, we’ll explore key problem areas that could attract the ATO’s attention. Electric Vehicles Causing Sparks In late 2022, the government announced a concession that allows employers to offer some electric...

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Revised Stage 3 Tax Cuts Pass Senate

Revised Stage 3 Tax Cuts Pass Senate

The Government’s amendments to stage 3 tax cuts have passed the Senate on Tuesday evening. Now, the question arises, what will happen next? Well, the tax cuts will become law now. The announcement made in late January by Prime Minister Anthony Albanese stated that...

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Mid-Year Economic and Fiscal Outlook (MYEFO)

Mid-Year Economic and Fiscal Outlook (MYEFO)

The Mid-Year Economic and Fiscal Outlook is released each year by the government, which is often referred to as the mini-budget. Some years the MYEFO passes by without any tax-related developments. However, on 13 December 2023, the MYEFO documents were released...

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Deductions for Financial Advice Fees

Deductions for Financial Advice Fees

The ATO issued taxation determination TD 95/60 in 1995 that looked at whether fees for receiving investment advice could be deductible under the general deduction provisions in section 8-1 ITAA 1997 if the taxpayer is not running an investment business. The ATO has...

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Warnings and Reminders from the Regulators

Warnings and Reminders from the Regulators

Financial Support to Help Businesses with Recent Weather Events Various businesses may have been affected by recent weather events with some getting financial support or government grants to help them in recovery. While the tax treatment of financial support might not...

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