Common Tax Deduction Myth FAQ’s
Not all expenses are tax deductible, and some tax deductions are complete fables. Here are some common tax questions that we see every day.
Partner. Parent. Employee..? Should you hire your spouse?
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.
2022 EOFY Checklist for Small Business
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.
How Many $$$ Does Your DIY Tax Return Really Cost?
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?
Fun Facts About Money You May Not Know
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.
Help! How Do I Lodge My First Tax Return
Although lodging your tax return for the first time might seem daunting, it’s really not that hard. You just have to be a little organised. The more organised you are, the more of a tax refund you might get back from the ATO when the time comes. So, let’s get you started.