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Your Tax Calendar for September and October 2023: Stay Ahead of Your Tax Obligations

1 September 2023 admin Leave a comment

Introduction As we step into the heart of the 2023–24 income year, it’s essential to stay on top of your tax obligations to avoid interest and penalties. To help you navigate the upcoming months of September and October, we’ve put together a quick guide to key compliance dates. Whether you’re an individual, business owner, or … Continue reading Your Tax Calendar for September and October 2023: Stay Ahead of Your Tax Obligations →

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Super Withdrawal Options in Retirement

31 August 2023 admin Leave a comment

Retirement is a big milestone in one’s life, and it brings with it the critical choice of how to access superannuation savings that have been meticulously amassed over the years. There are numerous super withdrawal choices accessible to retirees who have satisfied the terms of release or are at least 65 years old and continue … Continue reading Super Withdrawal Options in Retirement →

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R&D Tax Offsets: A Closer Look at Recent ATO Reminder

30 August 2023 admin Leave a comment

Introduction Research and development (R&D) plays a critical role in defining the landscape of industries in the domain of innovation and advancement. Recognizing the importance of R&D activities, governments throughout the world frequently offer tax breaks to encourage businesses to participate in them. The Australian Taxation Office (ATO) has issued a reminder on tax offsets … Continue reading R&D Tax Offsets: A Closer Look at Recent ATO Reminder →

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Understanding SMSFs and the Effects of Rising Interest Rates

25 August 2023 admin Leave a comment

Introduction The landscape of Self-Managed Superannuation Funds (SMSFs) has been significantly influenced by recent interest rate hikes, with trustees facing challenges and opportunities alike. As SMSF trustees grapple with the implications of higher interest rates on limited recourse borrowing arrangements (LRBAs) and investment strategies, it’s essential to understand the changing dynamics and make informed decisions. … Continue reading Understanding SMSFs and the Effects of Rising Interest Rates →

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A Tax Guide for Employers: Navigating Employee Gifting

24 August 2023 admin Leave a comment

Introduction As the Christmas season approaches or birthdays arrive, many companies opt to show their appreciation for their workers’ hard work and devotion by gifting them. What appears to be a simple gesture, however, might have tax repercussions that firms must be aware of. We’ll dig into the tax treatment of employee gifts in this … Continue reading A Tax Guide for Employers: Navigating Employee Gifting →

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Navigating Unexpected Tax Debts and Common Myths for Australian Taxpayers

23 August 2023 admin Leave a comment

Introduction As tax season progresses, many Australians are seeing a noticeable shift: Some people are owing money to the Australian Taxation Office (ATO) for the first time. This is especially true for young Australians who are still repaying their HECS/HELP loans. In this blog article, we’ll look at some common misconceptions and realities about unexpected … Continue reading Navigating Unexpected Tax Debts and Common Myths for Australian Taxpayers →

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Trusts – Are They Still Worth It? Navigating the Changing Landscape

22 August 2023 admin Leave a comment

Introduction Trusts have long been a popular legal and financial instrument for business structuring and asset management. They provide benefits like asset protection, income distribution flexibility, and possible tax advantages. However, recent developments and crackdowns by tax authorities such as the Australian Taxation Office (ATO) have raised concerns about the viability of trusts for business … Continue reading Trusts – Are They Still Worth It? Navigating the Changing Landscape →

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Understanding Australian Payroll Basics

15 August 2023 admin Leave a comment

Many businesses around the world rely on payroll software to pay their employees. Australia is not unique in this regard. The Australian payroll system can be complex depending on the industry that you work in. The number of employees can also affect the flexibility of the method used. Australian payroll software needs to also consider … Continue reading Understanding Australian Payroll Basics →

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Unlocking the Power of Bookkeeping: Benefits and Challenges

12 July 2023 admin Leave a comment

What is Bookkeeping? Bookkeeping is a rapidly expanding field that is demanding, fascinating, tough, and, most importantly, rewarding. It’s all about comprehending how a company operates and then supplying precise data that allow the company to know exactly how well it’s doing. It offers excellent professional prospects to men and women of all ages and … Continue reading Unlocking the Power of Bookkeeping: Benefits and Challenges →

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Top 5 overlooked tax deductions

11 July 2023 admin Leave a comment

What are the top 5 forgotten deductions on individual tax returns? – That is, deductions people can claim, but often forget or don’t know about. Tax agent fees are also a tax deduction Surprisingly, our accountants agreed that tax agent fees are the most regularly forgotten tax deductions each year. According to the ATO’s guidelines, … Continue reading Top 5 overlooked tax deductions →