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Compliance in the WFH Landscape: Know The Right Method You Can Use To Claim Expenses

Tax

Ensure you’re up to date on how to claim your working-from-home expenses! As the business landscape shifts back and forth between office, hybrid and home-based work opportunities, it’s important to remember what methods are available to…

What Counts As A Valid Self-Education Claim?

Tax

As the tax season draws near, individuals seeking to claim self-education expenses must navigate the pitfalls highlighted by the Australian Taxation Office (ATO). While pursuing knowledge and skill enhancement is commendable, it’s crucial…

Preventing An ATO Audit With Proper Lodgement Of Your Return

Tax

The Australian tax system is designed to be fair to all, so we all must pay the correct amount of tax each year. The Australian Taxation Office (ATO) contacts around 2 million taxpayers annually to review their tax returns, although not all…

Fringe Benefits Tax Considerations For Australian Businesses

Tax

For businesses operating in Australia, navigating the intricacies of the Fringe Benefits Tax (FBT) is essential to ensure compliance with tax regulations and minimise financial liabilities. FBT is a tax paid on certain employee benefits in addition…

What You Need To Keep Records-Wise For Cryptocurrency

Tax

In the ever-evolving landscape of cryptocurrency, where digital assets can fluctuate in value within moments, keeping meticulous records is not just a good practice but a necessity. Whether you’re a seasoned investor or a newcomer to the crypto…

Understanding Potential Tax Deductions

Tax

Tax season is a time when individuals across the country turn their attention to their financial affairs, ensuring compliance with tax laws while seeking to minimise their tax burden. While many Australians may be familiar with common tax deductions…

Navigating Tax Reporting in the Sharing Economy

Tax

The Sharing Economy Reporting Regime (SERR) represents a significant development in Australia’s tax landscape, requiring certain businesses operating in the sharing economy to report specific transactions to the Australian Taxation Office…

Land Tax – Why An Understanding Of This Facet Of Tax Could Help With Your Yearly Tax Planning

Tax

Australia’s land tax is a vital component of the nation’s taxation system, playing a pivotal role in revenue generation for state and territory governments. Understanding the nuances of land tax is essential for property owners, investors,…

Why Are The Stage 3 Tax Cuts The Subject Of Discussion At The Moment?

Tax

In a significant move poised to benefit a broader population segment, the Australian federal cabinet has approved changes to the stage-three tax cuts package, set to come into effect from July 2024. The proposed amendments bring about a more…

Navigating Challenging Times – Understanding NANE Income Versus Assessable Income

Tax

The recent spate of extreme weather events during the summer in various parts of Australia has presented unprecedented challenges for small businesses. As a result, the pressing concerns they face may not necessarily revolve around their tax…

New Rules For Off-Market Share Buy-Backs Now Law

Tax

In a move to streamline and align the tax treatment of off-market share buy-backs, the 2023 October Budget introduced changes that have now become law (as of December 2023). These alterations, effective for listed public companies offering off-market…

Do You Know Your FBT Obligations For The End Of Year?

Tax

As the holiday season approaches, the excitement of celebrating with your hardworking staff builds up. However, before diving into event planning and staff perks, it’s crucial to consider the potential implications of fringe benefits tax (FBT)…