Read the latest news, get tax advice and keep up to date with our timely and informational short reports.
To avoid paying too much tax, there are ways to actively, and legally, reduce your taxable income. Understand what you can do can save on your tax bill. The difference could save you hundreds, if not thousands of dollars.
Building a granny-flat in your backyard for your aging parents or for your older children might be an option that will work for your family, however when planning a granny-flat, it’s beneficial to know the tax and Capital Gains Tax (CGT) implications that might impact your property.
Your balance sheet gives you an insight into your business and its operations. You should know how to create, read and interpret this key information for your small business.
You don’t have to be a big income earner or run your own business to claim tax deductions. There are always expenses to be found that you’ve incurred throughout the year that can be claimed – many of which are little known such as legal expenses.
If your small business earns over $75,000 per year, you’ll need to collect and pay GST, as well as lodge a BAS. It doesn’t have to be hard. In fact, there are hidden benefits you should be aware of.
If you’re an Australian sole trader or business, have an Aussie made product and export into foreign markets, the Export Market Development Grant (EMDG) grant may help you grow your business with a much needed cash injection.