Tax
The importance of keeping a vehicle mileage logbook plus tips for record-keeping
22 May
Maintaining a vehicle mileage logbook is an essential practice for anyone who uses their vehicle for business purposes. Not only does it help with accurate record-keeping, but it also ensures compliance with tax regulations, provides evidence for...[Read More]
How to claim income tax deductions for work-related expenses and other expenses, and record your deductions.
22 May
Instant tax deduction On 13Â April, the government announced a $1,000 instant tax deduction, so that taxpayers wonât need receipts to claim a deduction of less than $1,000 for work-related expenses in their tax return. This change is subject to...[Read More]
Find out if your business is eligible for the $20,000 instant asset write-off for the 2024â25 income year.
22 May
Have you purchased or are you purchasing a business asset this financial year? The instant asset write-off limit is $20,000 for the 2024-25 income year. If your business has an aggregated annual turnover of less than $10 million and uses...[Read More]
EOFY countdown: personal tax tips to maximise your refund
15 May
As the end of the financial year approaches, itâs a smart time to start preparing your personal tax return. Being proactive now can help you avoid stress, maximise your deductions, and potentially increase your refund. Whether youâre a...[Read More]
Taxation for small business owners: EOFY preparation and working with your accountant
15 May
As the end of the financial year (EOFY) approaches, small business owners face one of the most critical periods in their business calendar. Proper preparation and a clear understanding of your taxation obligations can make a significant difference...[Read More]
Make the most of EOFY: super strategies to discuss with your financial adviser
15 May
As the end of the financial year (EOFY) approaches, itâs a timely reminder to check in on your financial health and take advantage of opportunities to strengthen your retirement savings. Whether youâre looking to grow your superannuation,...[Read More]
Understanding debt recycling â transform bad debt into good debt
15 May
Debt recycling is a financial strategy that can help you transform bad debt into good debt, boosting your wealth and enhancing your financial future. This article explains the concept, its benefits, risks, and how it might apply to your specific...[Read More]
Self-Managed Superannuation Fund (SMSF) checklist â summary
8 May
A Self-Managed Super Fund (SMSF) offers individuals more control over their retirement savings, but it comes with significant responsibilities. This checklist outlines key considerations and requirements to help ensure compliance and effective...[Read More]
Election expected to drive confidence in electric cars
8 May
Electric vehicles are expected to grow in number and fall in price following the federal election as manufacturers and motorists gain confidence that regulations on low-emission transport will not change. Automotive experts issued the predictions on...[Read More]
Drivers could pay more tax after electric car U-turn
1 May
The cost of buying an electric vehicle could rise by thousands of dollars for some motorists if fringe benefits tax rules are changed after the election. Automotive groups warn drivers in outer metropolitan suburbs could be hit hardest by the...[Read More]
Coalition courts businesses with more tax incentives
24 April
Small businesses will be able to deduct thousands more dollars off their tax bill as part of Peter Duttonâs pitch to employers struggling to meet rising costs. The opposition leader said the Labor government had been a âdisasterâ for...[Read More]
Coalition charts own course on one-hit tax relief
17 April
ONE-OFF HANDOUTS, BUT AT WHAT COST? * The federal coalition, led by Peter Dutton, announced tax rebates for more than 10 million tax payers earning up to $144,000 ahead of the official campaign launch in Western Sydney on Sunday * When taxpayers go...[Read More]
Eat the rich: Greens to tax billionaires to feed kids
17 April
Flipping toasties with kids at a Brisbane park, the Greens have turned up the heat on their plan to provide free school meals. Party leader Adam Bandt, Senator Penny Allman-Payne and prominent MP Max Chandler-Mather were out on a warm but wet...[Read More]
Greens pushing Labor to scrap property tax breaks
10 April
The federal government has again rejected a Greens push to put property tax break reforms back on the agenda, if Labor ends up in minority government after the election. In an address to the National Press Club on Wednesday, Greens leader Adam Bandt...[Read More]
Business hungry for more despite Labor tax sweetener
10 April
Small businesses are being tempted with a $20,000 sweetener to re-elect Labor, but the offering still falls short of the coalition pitch to traders. Labor has vowed to extend the instant asset write-off â which allows businesses and tradies with a...[Read More]