Tax

Completing a tax return can be daunting, especially if it’s your first time having to do it. Whether you’re fresh in your first high-paying role or have worked diligently for more than 30 hours in a week, completing your tax return is an important part of your tax obligation. If you are earning or will […]

If your business earns a part of its income in cold, hard cash, be prepared to have the Australian Taxation Office’s eyes on you this tax time. To protect honest, compliant Australian businesses, the Australian Taxation Office (ATO) has placed a strong emphasis on targeting the cash and hidden economy (known to be a part

It’s getting close to the time of year when your tax return may be on your mind. You may have even already started looking into what is required to lodge your income tax return. Making sure that your details are correct and that any information regarding your earned income from the year is lodged is

If you have been operating as a business for less than 9 years, you‘ve likely only ever operated under a Liberal federal government. A new government may be causing you some anxiety, especially regarding what a Labor government could mean for your business. What Can You Expect With A Change In Government? It doesn’t matter

Registering for an ABN and applying for GST refunds when you don’t own a business or are not eligible is fraud. The Australian Taxation Office (ATO) has identified a significant number of GST refund fraud attempts, totalling an estimated $850 million to around 40,000 individuals. This fraud involves predominantly participants inventing fake businesses to claim

Cryptocurrency is a hot topic of discussion in the taxation industry, due to its digital nature as an asset and the reporting requirements behind the tax on its earnings  Cryptocurrency may seem like another form of money to you (albeit in digital form), but it isn’t to the Australian Taxation Office (ATO).  From their point

The platforms that play host to large proportions of Australia’s gig economy (such as ride-sharing and short-stay rental apps) will be given a reprieve from mandatory reporting requirements due to the upcoming election delaying parliament’s passing of a bill.  The 21 May federal vote means a law, which would have required digital platforms to relay

The end of the financial year is coming up this month (30 June), and you may be looking for ways in which you could make tax savings in this year’s tax return. Savings through tax deductions/expenses that you could make now for your work purposes or even with tax offsets introduced by the government. Whatever

With more than a quarter of Australian employers currently having an apprentice or trainee on the books, it’s important that these young individuals understand what they may be able to claim work-wise on their tax returns this year (and that they should be preparing for it sooner rather than later). Car Expenses You can claim

As we approach the end of the financial year, the duties and responsibilities that we need to manage begin to crop up. To help manage a lot of the tax planning and business strategising that takes place during this time, up-to-date records of the previous year can be of invaluable help. If done well, record-keeping