It is never too early to focus on your tax planning in order to minimise tax, reduce risk and be prepared financially.
Effective tax planning is something that should be considered year round and making it a priority can result in you paying less tax liability. Preparing and updating a forecast of income and outgoings can also help you and your business identify times when money may be short and plan accordingly.
Read MoreA brief summary of the Australian Federal Budget 2018 - 2019.
Read MoreThe ATO has announced that the due date for self-managed superannuation fund (SMSF) annual returns for 2016-17 has been extended until 30 June 2018.
Read MoreWith the fringe benefits tax (FBT) year-end just around the corner, it is a good time to review your FBT compliance to avoid raising attention from the Australian Tax Office (ATO).
Read MoreUnless you are in the business of rental property investing, most residential rental property investors can no longer claim a deduction for travel costs...
Read MoreThe Australian Tax Office (ATO) is targeting privately owned and wealthy groups that display specific behaviours and characteristics in relation to their tax affairs and lifestyle.
Read MoreIn its effort to facilitate a fair business environment, the ATO has offered continued support for honest businesses.
Read MoreThe ATO is warning Australian taxpayers to be careful with their personal information.
Read MoreSmall business owners deal with many issues on a daily basis. Between managing staff, suppliers and customers, running a business can be quite stressful.
Read MoreThe ATO is reminding those who work in the sharing economy to be aware of their tax obligations.
Read MoreYes the silly season is almost upon us and while Christmas parties provide you with an opportunity to celebrate the year’s achievements with your staff, it’s also not called the silly season without a reason.
Read MoreSmall businesses with a turnover of less than $10 million from 1 July 2016 can write-off assets costing less than $20,000 each up until 30 June 2018.
Read MoreThe Tax Office is reminding individuals that they can only claim a work-related deduction if:
Occasionally, business owners will need to make changes to their net GST liability for any given reporting period.
Read MoreSubstantial superannuation changes have taken effect from 1 July 2017.
Our Self Managed Superannuation specialist Daniel Uden described the changes as the largest and most complex adjustments to superannuation in 10 years.
Read MoreWith SMSF members still working through the wide-reaching and complex superannuation changes of the last Budget which take effect from 1 July 2017, this Budget’s minimal changes with regard to superannuation comes as good news.
Read MoreScott Morrison released the Federal Government’s 2017-18 Budget forecasting a deficit at $29.4bn for 2017-18, down from $37.6bn in 2016-17.
Read MoreThe Australian Tax Office is collecting data from financial institutions and online selling sites as part of their data matching programs for credit and debit cards and online selling.
Read MoreMany small food retailers buy and sell products that are both taxable and GST-free. Depending on the point-of-sale equipment used, identifying and recording these sales can be difficult for business owners.
Read More12 top tax tips for 2017 year end
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