Tax

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…

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 gather…

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…

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…

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…