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Tax Relief For Distilleries, Brewers And The Industry

Tax

With around 600 brewers and 400 distillers across Australia, and up to two-thirds of those numbers operating in rural and regional areas, the alcohol industry has become one of Australia’s fastest-growing sectors. As a part of the 2021-22…

When Does A CGT Concession Or Exemption Apply To Your Small Business?

Tax

Small businesses are facing a set of challenges once again that can make fulfilling tax obligations seem like a daunting task. However, as a small business, capital gains tax concessions on assets used to conduct your business may be of interest…

Charitable Donations, Gifts & The Taxman – What You Need To Know

Tax

Did you know that making a charitable donation isn’t just contributing towards a better outcome, it could also be tax-deductible? Every $2 donated under the right set of circumstances counts against your taxable income, and though many…

The Past Year May Have Pushed You Over The Tax-Free Threshold – Here’s Why

Tax

Did you know that, regardless of how many jobs you worked over the past year, once your income reaches $18,200 it has crossed the tax-free threshold? The tax-free threshold is the maximum amount of income that you can earn in a year without…

Don’t Get Stung! You May Need To Pay Extra Tax On These Relief/Support Payments.

Tax

Have you, over the course of the past financial year, received a government assistance payment, support payment or disaster relief supplement? There have been a number of cases where people who received financial assistance from the government…

Do You Need A Receipt For That Claim? ATO Cracks Down On Work-Related Expenses

Tax

The ATO is warning those submitting their tax returns this year to take care when submitting ‘other’ work-related deductions to claim back, as they are closely scrutinising. If you are planning on claiming work-related deductions this tax…

Tax Treatments Will Differ Depending On Payment Types, Says ATO

Tax

The ATO is looking to make tax season a little bit easier this year, particularly in light of the unique but significant challenges that Australians have been facing over the last year, and are continuing to face. If you received a financial…

Gig Economy Workers Are Warned That The ATO Is Watching

Tax

The inexpensive and profitable side hustle is under the ATO’s watchful eye when it comes to declaring income this tax season. With many gig economy workers often earning their income as independent contractors, the ATO warns that a failure…

The Federal Budget 2021-22: Low & Middle Income Tax Asset Rebate Extension Announced

Tax

The Low and Middle Income Tax Offset has been extended for another 12 months, meaning that taxpayers whose wage earnings situate them within a certain income bracket will again be able to receive a little extra cash back into their pockets…

Using Feedback As A Tool For Your Business’s Growth

Tax

Feedback is an essential element within the business sphere. It can be used to improve your business as a whole or help identify where you may make further improvements. It can be internally or externally driven and may not always be positive. Essentially,…