Tax planning is an essential aspect of financial management for individuals and businesses. It involves taking steps to minimise tax liability and maximise tax benefits, while also ensuring compliance with tax laws and regulations. Tax planning can provide significant benefits, including financial savings and better control over your finances. We will discuss the importance of […]
I have been asked numerous times “what can I do to lower my tax bill”. There are various ways to do this, but it ultimately comes down to educating yourself in this area. Lowering your tax bill can be achieved through various strategies that are legal and compliant with tax laws. Here are some tips […]
Fringe Benefits Tax (FBT) is a tax that is levied on the non-cash benefits provided to employees in addition to their salary or wages. FBT is a separate tax from income tax and is paid by the employer, not the employee. Here are some reasons why businesses should consider reviewing their fringe benefits: Compliance with […]
New businesses often have many questions when it comes to their accounting needs. Here are some of the top questions new businesses ask accountants: These questions are just a starting point, and every business has unique accounting needs. An accountant can provide you with personalised guidance and advice tailored to your specific business. Contact […]
Starting a business is an exciting and challenging time. While it may be tempting to handle all aspects of your new venture on your own, seeking the advice and guidance of an accountant can be invaluable. Here are some of the top reasons why start-up businesses should seek the services of an accountant: Financial Planning […]
Minimise your tax liability and Maximise your tax refund, by ensuring you are claiming what you are entitled to. There are various deductions available that can be claimed on your tax return, but it’s important to ensure that you are eligible to claim them and that you have the necessary documentation to support your claims. […]
The ATO has made changes to the way that working from home deductions can be claimed by eligible taxpayers for the 2023 income year. If you have genuinely worked from home at any time from 1 July 2022 to 30 June 2023, you may be eligible to use the ATO’s revised fixed-rate (67 cents per […]
Starting a business is an exciting and challenging time. While it may be tempting to handle all aspects of your new venture on your own, seeking the advice and guidance of an accountant can be invaluable. Here are some of the top reasons why start-up businesses should seek the services of an accountant: Seeking […]
Tax planning – why do we recommend it? Tax planning is a great opportunity to look at your business trading for the year to date, assess what goals you have for next financial year, and plan for what tax bill may arise at year end so there are no surprises. Tax planning is usually done […]
written by: Ritchie Cruz, Principal Director There has been much confusion when people say “just claim that on tax”, or “you can get that back on tax”. The confusion lies between the person thinking that they can get the whole amount back, and what they actually get back from their tax return. Tax DeductionsDeductions […]
