With the end of financial year only a month away, it is time to get your tax affairs in order and be aware of what opportunities may be available to maximise your tax deductions for the 2021-22 financial year. In this article, we highlight some of our top tax tips for businesses and individuals to […]
Top tax tips for businesses and individuals to prepare for your 2022 tax return Read More »
Every so often the Australian Taxation Office (ATO) sends a ‘shot across the bow’ warning taxpayers where their gaze is focused. Last month in a speech to the National Press Club, Tax Commissioner Chris Jordan did exactly that. Part of the reason for this public outing is the gap between the amount of tax the
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Like many of us, if you have continued to work from home this year, you may be planning to claim different expenses than if you were working in an office. With so many claiming work from home expenses, there a four deductions on the ATO’s watchlist this year that they will be looking at closely:
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The new financial year has arrived. Let’s take a quick look at some of the important dates and updates from 1 July 2022. 1 July 2022 Changes to Superannuation The Superannuation Guarantee rate is increasing to 10.5%. This rate applies for any payments that fall on or after 1 July, even if it was earnt
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The ATO has made a number of changes to tax return rules for FY19/20 making this year’s tax return easier, particularly for Australians impacted by coronavirus and bushfires. The tax office is expecting a marked increase in people claiming deductions for working from home or for protective items used for work. We know many of
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The new financial year has arrived and so has several updates to the tax system and new policies impacting superannuation, healthcare, wages and tax rates. Here’s what you need to know post 1 July 2021. Superannuation payments to increase Working Australians will receive a 0.5% boost to their superannuation fund. Legislation requires superannuation contributions to
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Recent changes to State laws may trigger a surprise tax bill for family trusts (discretionary trusts).
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As the end of the financial year (EOFY) approaches, it is important for businesses to prepare themselves accordingly. This is the time when businesses must reconcile their accounts, file their tax returns and make necessary adjustments to their financial strategies. Proper preparation can help businesses maximise their returns and avoid costly mistakes. Here are some
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It’s been a ‘business as unusual’ year for business owners and taxpayers and this EOFY will be even more critical than others. To get the most out of your tax return, these top fourteen key deductions mustn’t be overlooked. More importantly than ever, to make the most of and be eligible to receive these deductions,
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