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What Does Increased Concessional Super Mean For You?

What Does Increased Concessional Super Mean For You?

As an employer, you must make super contributions in line with average ordinary time earnings (AOTE) to employees’ super fund, preparing them for post-retirement life.  Employers and independent workers can make concessional contributions on income that has yet...

How Does the Instant Asset Write-off Increase Affect You?

How Does the Instant Asset Write-off Increase Affect You?

On March 27th, 2024, The Treasury Laws Amendment Bill involving the Support for Small Businesses, Charities, and Other Measures initiative was discussed in Parliament. While the changes need final approval by the House of Representatives, we could experience...

7 Benefits of Tax Planning for Your Small Business in Australia

7 Benefits of Tax Planning for Your Small Business in Australia

For a small business to thrive, it must curate a long-term financial strategy that starts at the foundation of every business’ outgoings–tax! Overlooking tax deadlines or reserving insufficient funds could inflict penalties with interest charges, damaging the...

7 Common Accounting Mistakes Small Business Owners Make

7 Common Accounting Mistakes Small Business Owners Make

Starting a small business is a whirlwind of turning your passions and talents into a flourishing business. You’re likely learning the ropes of marketing, procurement, recruitment, and more to keep your entity afloat.  While the above areas matter, it mostly boils...

$20K Instant Asset Write-Off Returns: What Does It Mean?

$20K Instant Asset Write-Off Returns: What Does It Mean?

The $20K instant asset write-off enables businesses to reclaim instant funds on assets, like agricultural equipment. In May 2023, the government announced that the asset value threshold would drop from $20,000 to $1,000. Fortunately, the Treasury Laws Amendment put...

TPAR Deadline: Could You Be Liable for Penalties?

TPAR Deadline: Could You Be Liable for Penalties?

Are you on top of your taxable payments annual reporting? Don’t worry; you still have time to organise your documents. With the deadline approaching on the 28th of August every year, the Australian Taxation Office (ATO) warns businesses against submitting documents...

What Is NSW Payroll Tax and How Does It Work?

What Is NSW Payroll Tax and How Does It Work?

Are you a business owner located in New South Wales with a thriving workforce? Do you offer workplace benefits and commit to superannuation fees? If you answered yes to one or more of the above, you could be liable for payroll tax. With the hustle and bustle of...

3 Tax Scams to Keep on Your Radar & How to Avoid Being Targeted

3 Tax Scams to Keep on Your Radar & How to Avoid Being Targeted

If you own a small business, you’ll know that the tax season can bring opportunity and exploitative opportunists. While you may often easily manage the tax season, it’s important to be aware of scams. Government bodies rightly state that scammers can make fake...

Save Thousands by Claiming Property Depreciation as a Tax Deduction

Save Thousands by Claiming Property Depreciation as a Tax Deduction

As a property investor, you’re always on the lookout for ways to make your money go further. Smart financial decisions have got you where you are, after all, and it’s vital you maintain your eye for a good deal. What if we told you that an average rental property...

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