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There’s no need to fret about being a tax Grinch during the year-end celebrations – we’ve made it easier for you to stay on top of your business's FBT responsibilities! Tis the season to celebrate, and many companies like to spread the holiday cheer by hosting festive...

Creating a budget that prioritizes paying yourself over bills can be broken down into three straightforward steps. This approach, often referred to as "paying yourself first" or "reverse budgeting," is ideal for those who want to increase their savings without the...

Teaching children the value of money and the potential financial benefits of saving and investing over time is one of the most valuable things parents can do. Many of us are familiar with the timeless saying, "money doesn't grow on trees." This proverb underscores the...

Not For Profits (NFP) across the country may have different tax implications that apply to their particular organisation, especially if they are exempt from income tax. However, the rules around employees and volunteers remain unaffected for these organisations and...

Tax residency is an essential element of Australia’s taxation system; however, it can appear complicated and confusing. While there are four tests that can assist you in determining your residency status for tax purposes, a new ATO ruling in June 2023 has taken into...

If you work from home, you may be eligible to claim a tax deduction for expenses related to your work, including: Heating, cooling, and lighting bills Costs for cleaning your home workspace, including cleaning products or payments for a domestic cleaner if needed....

If you have a rental property, are you aware of the rules around claiming second-hand depreciating assets? Second-hand depreciating assets are depreciable items previously used or installed and ready for use in a rental property. These assets may have already existed...

Throughout the tax return lodgement process, a registered tax agent can be of invaluable help. However, we may have to ask you specific questions to assist you with getting the best return possible. Here’s how you can prepare beforehand: Record-Keeping Do you have all...

This year, you may have had a rude shock when opening your notice of assessment from the Australian Tax Office after lodging your individual income tax return. Many Australians are receiving for the first time assessments that have determined that they owe the ATO...

One of the most common discussions that can crop up around this time of the year relates to claimable tax deductions, and that child care should be tax-deductible as it is an expense incurred to earn your income. This statement makes sense, but it’s not necessarily...