The ATO Notice of Assessment is an important document for everyone who pays taxes in Australia. It comes from the Australian Taxation Office (ATO) and tells you the result of your tax return. This notice shows if you need to…
Calculating withholding tax can seem tricky, but it’s an important part of ensuring that you and your employees pay the right amount of tax throughout the year. Withholding tax is the money that’s taken out of payments like salaries or…
Deciding whether to run your business as a sole trader or a company can feel tricky because both have positives and negatives. Every business is different, so the best choice depends on things like how big you want your business…
Investing in property is a smart way to build wealth and secure your future. If you’re a property owner in Australia, knowing what tax deductions you can claim can help lower the costs of owning your investment property. By understanding…
A Tax File Number (TFN) is an essential part of the tax and superannuation system in Australia. Understanding its importance, how to find it, and how to apply for it are crucial for anyone living and working in the country….
Navigating the complexities of tax regulations can be daunting, especially when it comes to specialised topics like the margin scheme calculation. This guide aims to demystify the margin scheme calculation, providing tax professionals and small business owners with the knowledge…
In the dynamic landscape of financial planning and management, staying abreast of government fiscal policies is paramount to optimising financial outcomes. The recent budget announcement heralding tax cuts for every Australian taxpayer in the upcoming fiscal year of 2024-2025 presents…
When starting your own business, one of the critical decisions you’ll face is choosing the right business structure. Your choice defines how your business will be operated and impacts your tax obligations and legal responsibilities. Let’s delve into the key…
As the tax return deadline approaches, it’s crucial to understand the ins and outs of filing your taxes accurately and on time. With October 31st just around the corner, this blog post serves as a comprehensive guide to help you…
While Australians may disagree on how the government spends their taxes, at tax time, many of us are looking for ways to pay no more than we owe or even boost our tax refunds. These strategies go beyond the obvious…