When it comes to claiming the tax-free threshold, many of you may have questions regarding how and when you can claim the threshold and how having more than one job can affect claiming the tax-free threshold. To know the answers to these questions, continue reading...
Today we’ll discuss the topic of individuals and organisations receiving tax-deductible gifts and contributions according to the guidelines provided by the Australian Taxation Office. Understanding the difference between gifts and contributions and how the ATO treats...
With the advancement in technology, the ATO can audit much deeper and broader than in previous years. If your tax return is not correct, they can easily identify errors and start an investigation. Therefore, if you think you can get away with the addition of a few...
When you lodge a tax return you are liable to claim deductions for work-related expenses. This guide will help you understand all tax offsets in Australia. Apart from this, we’ll discuss how these tax offsets work and their benefits if you are eligible. Let’s get...
Everyone knows purchasing and owning a rental property is an exciting time. Before you get started, you need to know a few tax tips for owning a rental property. Regardless of whether you use a tax return accountant to do your tax returns or do it yourself, the best...
In today’s blog, we’ll highlight what tax changes have been made by the government. Let’s check out: From the Government Budget 2023-24 Federal budget 2023-24 will be released on 9 May 2023, Tuesday. This should be an interesting one as it is a mid-term budget. The...
When you start a business, you need to perform various tasks. Knowledge regarding company taxes is important because, for a company, understanding tax requirements will help you to avoid penalties. Australian tax rules and regulations are very strict. Penalties will...
The Australian Taxation Office (ATO) has released new information on electric vehicles just in time for the start of the Fringe Benefits Tax (FBT) year that started on 1 April. The FBT Exemption for Electric Cars The FBT exemption for electric cars applies if your...
Are you getting confused about what business expenses you can claim for your business to save more? When you prepare for tax returns, it might be tricky and challenging to know what tax deductions you can claim. Many business owners don’t know what tax deductions they...
As a business owner, you have to look after numerous things in your business. When it comes to the preparation and lodgment of BAS and GST, you must be aware of each and everything about BAS to avoid making mistakes. However, if you are busy making business strategies...