Blog

Book your consultation with a Tax Expert Today!

Make an Appointment Today Contact Us

Tax Blog

Make Sure You Have Everything Before Lodging!

Tax

While lodgement of your tax return can begin from 1 July, you have a much higher chance of submitting a return with incorrect or missing information. This is because some information that will automatically be pre-filled on your return (such…

Cars, Tax Returns & What You Can Claim

Tax

Claiming car-related expenses as tax deductions might seem like the easiest way to get a more significant return – but it’s also one of the most carefully monitored. Here are a few tips on what you need to watch out for when claiming car-related…

Are You A Home-Based Business? Here’s How To Maximise Your Tax Deductions.

Tax

Small business owners may be able to claim deductions for the costs of using their home as a principal place of business when filing their income tax returns. A home-based business is one where an area of your home is set aside and used exclusively…

WFH, Mobiles, Meals & Motor Vehicles – Who’s In The Firing Line With The ATO?

Tax

It’s that time of the year again! At the end of the financial year, the ATO announces a range of tax hotspots they’ll be paying careful attention to in individual income tax returns lodged. This year, be wary of making mistakes while claiming…

Cars, Phones, Laundry: What Can Tradies Claim In 2023?

Tax

Are you involved in a trade, or do you know someone who is involved in one? It’s vital that these individuals understand what they can claim work-wise on their tax returns this year (and that they should be preparing for it sooner rather than…

Tax Planning Tax Tips For Business Owners

Tax

As the financial year comes to a close, now is the time to visit your accountant or tax advisor to discuss tax planning for your business in 2023. At the end of every financial year, business owners should be reviewing and measuring their performance…

What You Can & Can’t Claim For 2022-23’s Return

Tax

The 2022-2023 tax return may look different to your previous returns, but there’s a reason – and it’s probably due to an expiry date. Here are our top reasons that your tax refund this year might not feel as bountiful as the previous…

Gift Or Income? Don’t Make A Mistake With Your Assessable Foreign Income…

Tax

Businesses and individuals may receive income from various sources; local, national or even international. You may find that part or all of your income comes from overseas (such as through sales, rental income or other sources). However, all…

The 6 Investment Income Types That Need To Be Declared On Your Income Tax Return

Tax

If you’ve made a major investment in the last financial year, any income made from it will need to be included on your tax return. Any income earned from investments and asses must be declared in your tax return. This may include amounts from…

Is Your Business’s Income Prepaid?

Tax

If your business receives income before a service is rendered to a client, when is the income recognised? Is it when the income is received or after the service rendered? That was what the Arthur Murray case in tax law argued, creating a landmark…

Why Does Your Tax Return Look Different This Year?

Tax

This year’s income tax return refund might not look as bountiful as it did in the previous year, as some of the offsets and rebates introduced during the pandemic will no longer be available to apply to your return. This includes the Lower-Middle…

The Return Of The Instant Asset Write-Off & The Expiry Of Temporary Full-Expensing

Tax

The Federal Budget has reintroduced the $20,000 Instant Asset Write Off to benefit small businesses amidst the myriad of measures announced by the government. The instant asset write-off will return for the 2023-24 financial year…