If you’re on the hunt for a maximum return this tax time (and who’s not?), we’ve got you covered. Some deductions are quite easy to miss, so check out these 8 (legal) ways to boost your tax refund. And make sure you book your tax appointment… the sooner you get… read more →
With tax-time on the horizon, scammers are out in force… and they’ve found ingenious new ways to part you with your hard-earned cash. Check out the latest scams doing the rounds, and always take special care when contacted by government bodies in relation to your tax claims. ATO Refund Claim… read more →
The decision is in, and so is a Coalition government. So what exactly does this mean for you and your money? Tax Cuts The Liberal Party is set to deliver a simplified tax system and rolling cuts across the various wage brackets. In a nutshell, here’s what we’ve been promised…… read more →
Here’s a handy rundown of Labor’s proposed Tax and Super reforms, and how these may impact you. Tax on Investment Property In general, taxpayers are able to deduct from their assessable income any expenses they incur generating or producing that income. An investment is negatively geared when the cost of… read more →
The recent Federal Budget announced a series of measures, some of which were legislated before the election was called. How will these new laws affect you? Extension and increase to instant asset write-off The popular instant asset write-off for small business has been extended and increased. The new laws: increase… read more →
While the Australian Taxation Office (ATO) has long been concerned about tax deductions claimed for a whole host of expenses, the latest on their ‘hit list’ are home office expenses. With an increasingly mobile workforce, it’s a challenge many will face this tax time. If you’re not sure what you… read more →
New laws passed by parliament late last year directly target taxpayers that don’t meet their obligations to report payments to contractors. By denying a range of tax deductions, these new laws aim to stop the rampant under-reporting of contractor income by stemming the flow of cash payments. And with the… read more →
If you employ staff to help you run your business, you need to make sure you’re classifying them correctly for tax purposes. Employing contractors certainly has its benefits from a tax perspective, but beware… the tax man is watching, and if you get it wrong it can cost you a… read more →
It’s tax-time again, and with tax-time comes the inevitable influx of scam emails all designed with the same objective: to strip you of your cash. So, to keep you (and your hard-earned money) cyber-safe and secure, read on for important tax-time safety tips… MyGov Scam The newest scam doing… read more →
Did you know that The Australian Taxation Office (ATO) uses more than 600 million pieces of third-party data to track activity and income? That’s why everyone is at risk of an audit, enquiry, investigation or review… regardless of how accurate your lodgement is, or how good an Accountant you have!… read more →