Green Taylor Partners Green Taylor Partners Logo

Blog

Farm Management Deposits:

Jessie Lakin

Primary producers can smooth cashflow and tax liabilities with a Farm Management Deposit (FMD). Australia’s farmers and rural communities know that climate events such as drought, floods, and bushfires must be endured and planned for in our dry continent. Furthermore, primary producers know drought isn’t like a flood or fire. It creeps up slowly, but […] Read More

What’s the go with PAYG instalments?

Jess Sluggett

Pay As You Go (PAYG) instalments are regular payments toward your current year tax liability. The aim of them is to put aside money toward your tax bill so that when you lodge your tax return there isn’t as much to pay. Often referred to as just ‘instalments’, these tax payments can apply to individuals, […] Read More

Staff gifts, events and their deductibility

Jarrod Kemp

At this time of year businesses may have spent money towards employee gifts and/or events, this can lead to two potential tax issue arising from these expenditures. These issues are income tax deductibility and fringe benefits tax (FBT). There are some important definitions to consider related to staff gifts or events, the main definition being […] Read More

EASY & REWARDING Superannuation Offsets (Tax Breaks)

Matt Richardson

There are two largely overlooked superannuation incentives available each year for lower income earners. Both of them are easy to access and the tax break available on your outlay makes these strategies extremely rewarding. SPOUSE CONTRIBUTION TAX OFFSET An amount of up to $540 per year is available if you make a super contribution on […] Read More

Are your legal fees deductible?

Jarrod Kemp

This is something a lot of business owners or individuals would not have come across, but it is important to be aware of. The deductibility of legal expenses is determined the same way as other business expenses. That is, if they are necessarily incurred in earning your business income and are not capital, private or […] Read More

Demystifying GST Codes: A Guide for Small Business Owners

Jessie Lakin

For those businesses registered for Goods and Services Tax, managing the GST can be difficult. Picking the right GST codes is one of the most challenging parts of doing the books. These codes are essential for correctly tracking and reporting GST on transactions, ensuring compliance with tax regulations, and avoiding potential fines. What Are GST Codes? […] Read More

What is Personal Services Income?

Kathryn Hamilton

We have all heard of it but most likely ignore it! Is more than 50% of your income generated from a contract due to your personal efforts or skills? If so, your income maybe considered Personal Services Income (PSI). What is it?!? Personal Services Income, also known as “PSI” is income when more than half […] Read More

WHEN SHOULD YOU CONSIDER LIFE INSURANCE PRODUCTS?

Natasha Gardner

If you’re experiencing a major milestone, it might be the right time to reassess your  life insurance needs. Major life events often prompt people to take out life insurance products, including having a baby, taking out a mortgage, buying a home and getting married. YOUR FIRST JOB Starting your career may not seem like the […] Read More

Are you a wage earner and undertaking additional study?

Emma Glover

If you are currently undertaking additional study, attending work conferences or seminars that relates directly to your job, you may be eligible to claim certain expenses as deductions against your assessable income. Types of expenses you can claim: Types of expenses you can’t claim: To be able to claim the above expenses, you need to […] Read More

Make an appointment