Tax.
Australian tax explained in plain English: planning, deductions, ATO changes and year-end moves.
Tax·13 June 2025
Crucial Property Tax Deductions for EOFY 2025 – Are You Ready?
As the End of Financial Year approaches, it is time for property investors to get their finances in order. Whether you own property individually or through a business, now is the moment to claim all eligible deductions, especially tax depreciation, a powerful but often overlooked way to boost your c
Tax·8 June 2023
Here’s where the ATO’s focus is this tax time
June 8, 2023 | Tax Tax season is just around the corner, and it’s time to gear up for what the ATO has on its radar. From making sure your tax returns are accurate to keeping an eye out for potential red flags, staying informed can help you navigate this season smoothly. So, let’s dive…
Tax·23 May 2023
Tax impacts of proposed changes to NZ citizens living in Australia
May 23, 2023 | Tax In a recent media release on 22nd April 2023, the Australian Government announced that they are looking to make the ability to obtain Australian citizenship a much simpler process for NZ citizens who are residing in Australia. Current Rules Practical Process Currently, the process
Tax·23 May 2023
When does GST apply to medical services?
May 23, 2023 | Tax Generally, the supply of medical services to patients are GST-free. However, there are certain scenarios which could attract the requirement to charge GST on a medical service supply. This can make interpreting the GST obligations for providing such services difficult for medical
Tax·27 April 2023
Benefits of the new FBT changes on electric vehicles
As the use of electric vehicles grows in popularity, it’s crucial for business owners to keep up-to-date on how the recent changes to Fringe Benefits Tax (FBT) regulations affect their operations and workers. By selecting the appropriate electric vehicle, comprehending the associated expenses, and g
Tax·30 March 2023
Are you providing any personal benefits to employees?
March 30, 2023 | Tax With 31 March fast approaching, it is that time again for businesses to review whether they have provided any fringe benefits to their current or former employees in the past 12 months (1 April 2022 to 31 March 2023). A fringe benefit is a non-cash benefit provided to an employe
Tax·9 March 2023
Your guide to the ATO’s new work-from-home deduction changes
March 9, 2023 | Tax The ATO scrapped the so called ‘shortcut method’ of claiming work from home expenses at the end of the 2022 financial year on 30 June 2022. This method allowed taxpayers to claim 80 cents per hour worked from home and was an all-inclusive rate so no other work from home…
Tax·2 February 2023
Why You Should Review Your Businesses Eligibility for Fuel Tax Credits (FTCs)
February 2, 2023 | Tax With your business, you are constantly looking for ways to improve your bottom line and stay competitive in your industry. One area that you may not have considered is Fuel Tax Credits (FTCs). A Fuel Tax Credit review conducted by LINK Advisors can help you identify if your bu
Tax·29 November 2022
Fuel Tax Credits: don’t miss out on business fuel savings.
November 29, 2022 | Tax From 30 March 2022 to 28 September 2022, a temporary reduction to the Fuel Tax Credits (FTC) available to businesses was in force. This was due to the temporary decrease in fuel excise duty. With this temporary reduction now lifted, now is a great time to review the eligibili
Tax·25 November 2022
Investors’ guide to Franked Dividends and Franking Credits
November 25, 2022 | Tax Owning shares is quite common for Australians, and many of them receive dividends on those shares held. This article details what franked dividends and franking credits are, how they work, and provide tax savings for you. What is a franked dividend? When you invest in a compa
Tax·23 September 2022
Is your business grant taxable or not?
September 23, 2022 | Tax The Covid-19 pandemic has presented us with an array of unprecedented challenges for many of our small businesses. They have been disproportionately impacted due to their prevalence in industries hardest hit by mandated lockdowns. In response, the government has provided sup
Tax·27 June 2022
How to maximise your work-related electric vehicle claim this tax time
June 27, 2022 | Tax A greater awareness of environmental impacts, coupled with surging fuel prices, has encouraged many individuals to consider purchasing electric vehicles (“EV”) or plug-in hybrid electric vehicles (“PHEV”). The two methods allowed for either individuals or sole traders to claim wo
Tax·26 May 2022
How to get the biggest tax deductions for your overseas travel
May 26, 2022 | Tax Did you know that if you’re on an overseas holiday and you attend a work-related conference, that some of your expenses for the day and a portion (possibly 100%) of your flights will be tax deductible? In light of overseas travel ramping back up, this article details what is dedu
Tax·27 April 2022
How to claim Fuel Tax Credits - Updated rates to 28 September 2022
April 27, 2022 | Tax If you are eligible to claim Fuel Tax Credits and lodge a quarterly BAS, you may have to apply 3 different rates this quarter. Fuel tax credit rates change regularly. They are indexed twice a year - in February and August - based on the upward movement of the consumer…
Tax·6 April 2022
10 top tax tips for business owners to prepare for your 2022 tax return
April 6, 2022 | Tax The end of the financial year is approaching and perhaps you are keen to get your tax lodged with the ATO as soon as possible. Perhaps you have a refund, and you are keen to receive it soon for your next project. Or you may have to pay some tax,…
Tax·5 April 2022
7 end of financial year tax tips for small business owners
April 5, 2022 | Tax With the end of the 2022 financial year fast approaching, it is important to consider certain strategies which may benefit individuals and businesses in reducing their taxable income position. For the business to obtain the tax benefits in the current financial year, these strate
Tax·7 February 2022
Are you in professional services? Here’s what you need to know about the ATO’s Final Guidance on the allocation of professional firm profits.
February 7, 2022 | Tax Historically, most professional firms were partnerships of natural persons. Professional firms are now structured in a variety of ways, reflecting the economic and legal choices made by owners of those firms. In some cases, these structures may be used in ways that give rise t
Tax·18 November 2021
Cryptocurrency - tax & regulation
November 18, 2021 | Tax The Commonwealth Bank announced that it is now Australia’s first bank to offer customers the ability to buy, sell and hold crypto assets, directly through the CommBank app earlier this month. Once one of the big four comes on board, you know cryptocurrency has become normal.
Tax·17 November 2021
Top 5 FAQs on claiming uniform and laundry expenses
November 17, 2021 | Tax One of the most common mistakes taxpayers make in claiming deductions on their tax return are uniform and laundry expenses. You can claim a deduction for the cost you incur to buy and clean your work clothes if it is one of these categories: Occupation-specific clothing Prote
Tax·22 September 2021
Why there is still time to claim thousands of dollars in deductions
September 22, 2021 | Tax 30 June has come and gone, as a matter of fact, it seems as though it was ages ago! The year is flying by, but this doesn’t mean your tax deductions should be flying by as well. There is still time for property investors to get a tax depreciation schedule.…
Tax·8 July 2021
What are car allowances and the valuable tax benefits that come with them?
July 8, 2021 | Tax Car allowances are offered by employers across Australia and far too many people are unsure of how they work from a tax perspective. You need to determine what is the best way to use this car allowance, whether that comes in the form of own vs lease, or own vs…
Tax·9 June 2021
6 common expenses people didn’t know were tax deductible
June 9, 2021 | Tax The end of financial year (EOFY) means more than plenty of sales from local car yards and at shopping centres. It is the last chance for Australians to make any decisions regarding changes to their finances that could affect their next tax return. This article details what you sho
Tax·4 June 2021
Deductions on the ATO watchlist and what you need to know
June 4, 2021 | Tax If you have been working from home and are planning to claim all those new expenses that you normally would not claim when you were in the office? Continue reading as the ATO will be focusing on four types of expenses relating to working from home this year: Personal expenses…
Tax·25 May 2021
Cash in hand payments on the ATO watchlist
May 25, 2021 | Tax The ATO has reminded employers that any ‘cash in hand’ payments made to workers will not be tax deductible. ‘Cash in hand’ refers to cash payments to employees that do not comply with pay as you go (‘PAYG’) withholding obligations. For example: failing to assess that the employee
Tax·18 May 2021
8 Tips to prepare for your 2021 tax return
May 18, 2021 | Tax 30 June is approaching and perhaps you are keen to get it lodged with the ATO as soon as possible. Perhaps you have a refund and you are keen to receive it soon for your next project. You may have to pay some tax but you would like to know…
Tax·14 May 2021
What you need to consider with crypto and tax
May 14, 2021 | Tax With the rising interest in Cryptocurrency (crypto) by the general population, there are a few things that need to be addressed. It must be noted that this increased interest is shared by the Australian Taxation Office (ATO). How you are taxed depends entirely on how you invest in
Tax·11 May 2021
4 advantages of using a tax agent
May 11, 2021 | Tax It is extremely important to get a Tax Agent to lodge your business and individual tax returns as the benefits are substantial. This article details the serious advantages of lodging your tax return with a Tax Agent such as a long deadline extension, quality assurance and ensuring
Tax·2 December 2020
How Christmas can save your business money on tax
December 2, 2020 | Tax Christmas is the perfect time of the year to acknowledge your employees’ and clients’ efforts by celebrating and providing gifts. Although the entertainment rules can be blurry, a lot of gifts are certainly tax deductible. The rules need to be considered on a case by case basi
Tax·13 November 2020
Annual Financial Reporting: The QBCC
November 13, 2020 | Tax The QBCC requires majority of licence holders to lodge their financial information on an annual basis. Why does the QBCC need your financial information? The QBCC requires the financials of your business for to maintain your licence category each year. The information they
Tax·10 November 2020
Budget 2020 income tax cuts: The time has come to update your payroll
November 10, 2020 | Tax The Australian Taxation Office (ATO) has updated its Pay as You Go Withholding (PAYGW), to reflect the personal tax cuts announced in this year’s federal budget. The tax cuts apply to the 2020-21 financial year and came into effect late October. Now, employers must adjust the
Tax·28 October 2020
Passing on the recent tax cuts to your employees
October 28, 2020 | Tax The ATO has recently updated tax withholding schedules to reflect the 2020/21 income year personal tax cuts announced in the recent federal budget. Updated tax tables are available at ato.gov.au/taxtables. Employers now need to adjust their payroll systems for the new tax rate
Tax·27 October 2020
5 things you need to know about failing to lodge a tax return
October 27, 2020 | Tax Many people fail to lodge their tax returns because they either forget that they’re overdue or are fearful of a potentially large tax debt. Unfortunately, this can lead to things getting worse, with heavy penalties and interest applicable. We are getting close to the deadline
Tax·7 October 2020
2021 federal budget highlights
October 7, 2020 | Accounting, Business, Tax Last night, the Federal Government unveiled its 2020/21 Budget on what they called a paved road to recovery. A recovery highly focused on creating jobs, jobs, and more jobs. We have all heard about JobKeeper and JobSeeker decreasing and eventually fading o
Tax·19 August 2020
TPAR reporting is due 28 August
August 19, 2020 | Tax The taxable payments annual report (TPAR) due date is coming up on August 28 2020. It is vital that, if your business is required to lodge a TPAR, you prepare for this date. You may also want to speak to your accountant to ensure you fulfill all obligations you may have. To he
Tax·6 August 2020
Cryptocurrency tax tracking and calculating
August 6, 2020 | Tax, Tips and Tricks How are cryptocurrencies taxed in Australia? The Australian Tax Office (ATO) has released a guide that the treatment of any gains/losses made on cryptocurrencies (such as Bitcoin) are taxed in Australia. Essentially, capital gains tax (CGT) applies to an asset a
Tax·9 July 2020
Buying a car with the new instant asset write off limit increase
July 9, 2020 | Tax, Tips and Tricks A few weeks ago, we shared that the $150k Instant Asset Write-Off has been extended to 31 December 2020. Since then, the most common question we received from clients is: Can we buy an expensive car (i.e., a Tesla) and write that off immediately? Unfortunately, th
Tax·16 June 2020
2020 end of financial year checklist.
June 16, 2020 | Business, Tax, Tips and Tricks We are now into June, which means another financial year is fast approaching. 2020 has certainly been a hectic time for all businesses with bushfires, floods, and COVID-19. Fortunately, the government stimulus measures have proven very effective but are
Tax·19 May 2020
How JobKeeper subsidy impacts Workcover and Payroll tax
May 19, 2020 | Tax With more than 750,000 businesses enrolling for the JobKeeper subsidy, its important that business owners understand how the subsidy will affect wages declarations for both WorkCover and payroll tax. Workcover The big question is will JobKeeper payments be considered declarable
Tax·12 May 2020
What has changed after 20 years with GST?
May 12, 2020 | Accounting, Business, Tax 2020 marks the 20th anniversary of the implementation of the Goods and Services Tax, or GST as it is more commonly known. GST is a 10% tax applied to most goods and services (as the name suggests) and whilst it was a big deal when it was introduced,…
Tax·12 February 2020
Tax Return Tips For 2020
As we are getting closer to the end of the 2019-2020 financial year it is important to recap what tax deductions you can and cannot claim. To make things easier there are a few general rules that apply to most deductions you can make. Your expenses will be claimable if: So, with that in mind here a
Tax·22 October 2019
How To Claim An Extra $25.80 in Fuel Tax Credits per 100 Litres of Fuel
*FTC rates in this article apply for the period 5 August 2019 to 31 January 2020 Many businesses claim Fuel Tax Credits (FTC) on the vehicles they use in their day to day operations. FTC’s assist businesses by providing a credit on their BAS depending on the amount of eligible fuel used each peri
Tax·14 August 2019
GST and Income Tax for Rideshare Drivers
Driving for a ridesharing service means that you are running your own business. Because of that you will have some tax obligations that you must fulfil throughout the year. As a rideshare driver you are not an employee or contractor of your specific rideshare operator – whether it be Uber, DiDi, O
Tax·6 August 2019
What Not to Leave Out of Your 2019 Tax Return
The ATO is constantly improving their data matching abilities. Leaps in technology and big data mean that the 2019 tax year will see the ATO have access to more information than ever before. The ATO is constantly collecting information about you from a variety of sources – while this means efficienc
Tax·23 July 2019
What Can You Claim at Tax Time if You Run a Business From Home?
Over one million Australians choose to run their small business from home. It is not only cost effective but offers fantastic work life balance options that are hard to come by in the world of small business. Each year, relentless advances in technology make it easier than ever to run a business fro
Tax·9 July 2019
How to Keep Clear of an ATO Audit This Tax Time
Tax agents and their clients should expect greater scrutiny from the Australian Tax Office this financial year after the ATO released its first ever “Individuals not in business tax gap” report last year. The ATO is now looking to crack down on the $8.7 billion tax gap it identified in this report.