Read the latest news, get tax advice and keep up to date with our timely and informational short reports.
With inflation hitting the roof, it’s natural to look cut expenses, and that is true when it comes to lodging your tax return. With the average tax return being $2,800, you need to be sure that cutting this expense isn’t costing you more than you think.
Not all expenses are tax deductible, and some tax deductions are complete fables. Here are some common tax questions that we see every day.
Should you hire your spouse or hire an employee instead? Many small businesses hire spouses to help you with the books, perform administration tasks or even as partners. At first glance, hiring a spouse is a good idea, but don’t forget to understand how this impacts STP, superannuation and tax offsets.
Tax time is upon us. Savvy small businesses around Australia should have rounded up 2022 and started their planning for 2023. In our short report, we detail what you should know about Covid stimulus payments, temporary full expensing and loss carry back and revenue goals.
If you provide rental accommodation, run a side-hustle or take advantage of the gig-economy there are a lot of considerations when it comes to tax. The take-away is that if you’re not claiming all tax deductions, you’re paying too much. So, how do you improve your tax return?
Did you know: Coins stay in circulation for about 30 years? After that time, it’s deemed they are too tarnished and worn to be used! If you’re curious about money and want to win some points on trivia nights, we have more fun facts about money you may not know.