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…
If you have forgotten to include something in your tax return or just made a mistake, you need to correct your tax return. How to track the progress of your tax return If you want to check the progress…
Maximising your tax return is crucial for hard-working Australians. Legitimate tax deductions are available for millions of Australians offered by the government. To maximise your tax returns, one must work on what can be claimed and what cannot. If you…
The End of the Financial Year (EOFY) is almost near. This is the prime time to dust off calculations, review the past, and prepare for the future. Whether starting a business or having been an employer/employee for years, the EOFY…
The Australian government highly encourages new businesses by aligning the tax systems and business laws with a culture of entrepreneurship and risk-taking. There are tax benefits for newly formed businesses available but they are also subject to the structure of…
You might provide your employees with benefits other than their salary or wages in your business. Non-cash benefits provided to employees or associates of employees are fringe benefits. This is different to when you pay money to your employees. Where…
As we approach the end of the tax year, it is important to become adjusted with any new taxation changes coming about from various factors, especially COVID19. This will help to maximise your tax efficiency for the outgoing tax year…
The Australian taxation system is a mix of direct and indirect taxes charged by both the Commonwealth and State governments, depending on the type of tax. Income tax is the most important form of taxation in Australia, collected by the…