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Mass Closures: What’s Happening to Businesses in Debt?

Mass Closures: What’s Happening to Businesses in Debt?

The post-pandemic landscape reveals gross debt increasing from $534.4 billion to $894.9 billion between 2019 and 2022, with about $5 billion in debt incurred by businesses missing their tax obligations.  So, how will the Australian Taxation Office respond to...

Small Business Tax Deductions for Home-Based Businesses

Small Business Tax Deductions for Home-Based Businesses

As a small business, managing obligations, such as tax, is key to sustaining financial health and identifying growth opportunities. The Australian Taxation Office offers various deductions with different criteria, allowing you to reduce your overall tax bill and...

How to Avoid Small Business Tax Scams

How to Avoid Small Business Tax Scams

As a small business owner, handling tasks digitally can significantly streamline financial management and record keeping. Unfortunately, where there’s light, there’s dark, with tech-savvy scammers exploiting this convenience.  The Australian Taxation Office...

Can I Claim My Mobile Phone as a Tax Deduction?

Can I Claim My Mobile Phone as a Tax Deduction?

Modern smartphones can handle complex tasks like mobile banking, invoicing, and managing calendars in your professional and personal life. Perhaps you’re in a profession, such as a delivery driver or estate agent, where a work phone is necessary, or you’re a...

The Division 7A Dilemma: Our Role in Educating Clients

The Division 7A Dilemma: Our Role in Educating Clients

The Australian Taxation Office defines “loan” under Division 7A as a form of credit or advanced payment that the receiver must repay under terms agreed with the lender.  Whether you’re part of a publicly traded company, a shareholder, or a lending party, getting...

Everything You Need to Know About the New Fixed Rate Method

Everything You Need to Know About the New Fixed Rate Method

Since 2022, over a quarter of Australian adults have worked from home (WFH). Although a precautionary measure during the COVID-19 pandemic, this flexible work approach works well for many companies and sole traders. WFH patterns help sustain a healthy work-life...

New Changes to HECS-HELP Debt Threshold in 2023

New Changes to HECS-HELP Debt Threshold in 2023

Have you taken a government-funded loan to pursue tertiary education or another higher-level qualification? Simultaneously, are you planning on receiving funding for training purposes? If yes, save a few minutes to review our most updated guide on changes to HECS-HELP...

Why You Should Use The Logbook Method

Why You Should Use The Logbook Method

Whether you're a business owner or self-employed, calculating how often your vehicle is used for work-related reasons is paramount for receiving taxable deductions.  Aside from these deductions, though, it also helps you comply with taxation regulations, and...

The Top Tax Deductions for Australian Investment Property Owners

The Top Tax Deductions for Australian Investment Property Owners

Property investment has many benefits regarding finances, resulting in significant returns for many owners. But how does investing in property affect tax deductions? This guide will detail the top tax deductions Australian investment property owners should know.  When...

FBT and Motor Vehicles: Everything You Need to Know

FBT and Motor Vehicles: Everything You Need to Know

Fringe Benefits Tax, commonly referred to as FBT, plays a fairly important role when it comes to motor vehicles and can impact employers and employees alike. So, whether you're a business owner providing company cars or an individual who’s benefiting from one, we’ll...

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