Tax

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,…

What you need to do before and after 30 June. June 25, 2021 | Tax With only a few days to go here is a quick list of the things you need to do before and after 30 June.   1. Meet your deadlines. June 30 – Distribution Minutes If you are trading under a…

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…

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…

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:…

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…

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…

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,…

Wanting to claim cars, trucks and equipment in 2021 tax? Act soon so you don’t miss out! March 30, 2021 | Tax Car dealerships are facing delays at getting new vehicles into the country due to high demand and effects of the pandemic and that means that you may be affected if you are planning…

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…