Tag Archives: Compliance

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Multiple Jobs and Residency: A Guide to Claiming the Tax-Free Threshold in Australia

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Introduction: In the dynamic world of employment, many individuals find themselves juggling multiple jobs or experiencing changes in residency status throughout the year. Understanding how to claim the tax-free threshold is crucial to managing your finances efficiently. In this guide, we’ll explore the intricacies of claiming the tax-free threshold in Australia, particularly when dealing with … Continue reading Multiple Jobs and Residency: A Guide to Claiming the Tax-Free Threshold in Australia →

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A Look into Australia’s Not-for-Profit Sector in 2024

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As we step into the final stretch of 2023, the Australian Taxation Office (ATO) has unveiled a roadmap for the Not-for-Profit (NFP) sector, outlining significant changes and initiatives set to shape the landscape in 2024. A Shift in Focus: One notable move is the transition of the NFP Centre from the ATO’s Private Wealth business … Continue reading A Look into Australia’s Not-for-Profit Sector in 2024 →

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A Guide for Small Businesses

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Tax time can be a challenging period for small businesses, but with the right tools and information, you can ensure a smooth and efficient process. The Australian Taxation Office (ATO) offers a range of resources to help you manage your tax and superannuation obligations. In this guide, we’ll cover essential information and updates for small … Continue reading A Guide for Small Businesses →

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Australians will save time and money by using digital statutory declarations

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Australia has just made a significant change in how people officially declare things, waving goodbye to traditional pen-and-paper methods. Led by Attorney-General Mark Dreyfus, a new law has been passed, making it possible for Australians to use digital execution, electronic signatures, and video-link witnessing for Commonwealth statutory declarations. This move towards digitization is a response … Continue reading Australians will save time and money by using digital statutory declarations →

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Unveiling the Small Business Energy Incentive

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Introduction: In the ever-evolving landscape of business incentives, there’s a new player in town ready to supercharge your energy efficiency efforts—the Small Business Energy Incentive. As we bid farewell to the Technology Investment Boost, the Energy Incentive steps up with a compelling 20% bonus tax deduction on qualifying expenditures. In this blog, we’ll explore the … Continue reading Unveiling the Small Business Energy Incentive →

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Decoding FBT Exemptions for Tradies and Utes: What You Need to Know

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Introduction In recent times, the Australian Taxation Office (ATO) has raised concerns about potential misuse of the Fringe Benefits Tax (FBT) exemption for utes and panel vans, particularly in cases where private use is claimed to be minimal. As utes, especially dual cabs, continue to dominate the Australian new car market, employers providing these vehicles … Continue reading Decoding FBT Exemptions for Tradies and Utes: What You Need to Know →

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Easy Tax Tips for Your Self-Managed Superannuation Fund in 2023

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Introduction: Do you have your own retirement savings plan called a Self-Managed Superannuation Fund (SMSF)? Sometimes, it can be tricky to manage it all by yourself, especially if your plan has changed over time. This blog will give you some simple tips for taxes and managing your SMSF in 2023. Whether you’re new to SMSFs … Continue reading Easy Tax Tips for Your Self-Managed Superannuation Fund in 2023 →

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What You Should Know About Fringe Benefits Tax (FBT) for Your Business

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Introduction: If you’re a business owner and you offer extra perks to your employees on top of their regular pay, then this blog is for you. These extra perks are called fringe benefits, and they can help your employees save on taxes. However, you also need to deal with something called Fringe Benefits Tax (FBT). … Continue reading What You Should Know About Fringe Benefits Tax (FBT) for Your Business →

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

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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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Understanding Australian Payroll Basics

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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 →