Personal tax cuts – What employers need to do now!
At the beginning of October the Australian Government handed down its 2020 Federal Budget. Part of the Government’s response to the COVID-19 pandemic is to cut personal tax rates retrospectively from 1 July 2020. The Government estimates this will provide tax relief of approximately $12.5 billion over the next 12 months. To ensure these tax cuts are effective […] Read More
Economic Response to Coronavirus
Please note, parts of this article have been updated and clarified in a later article. As many people will have heard by now the Federal Government announced several measures to assist the economy in addressing the impact of the coronavirus. A number of these measures will have significant tax benefits for our business clients. At […] Read More
Rental Property Investors & The Tax Man
You may have read in the financial pages of your weekend newspaper recently with the ATO confirming rental property investors will be firmly in their sights when submitting their 2019 tax returns. Based on recently performed random sampling the ATO has found 9 out of 10 income tax returns contain errors relating to non-compliance with […] Read More
Tax time is coming! Tips for rental property owners.
As we get ready to kick off the 2019 tax return season, now is a good time to look at some of the things we need to prepare your tax return. Here are some things for rental property owners to consider this tax time. I’ve purchased a property this year, what do I bring? The […] Read More
HECS-HELP debt and repayments
If you’ve recently finished your University degree and you are now finding yourself out in the big wide working world, I strongly urge you to read this blog! If you’re like me and you’ve spent 3, 4 or 5 years slogging it out at University and you hear the words “HECS debt” it might make […] Read More
Never too early for tax planning
The last few months of the financial year see most people turning their business eye towards their tax planning. However, it is never too early to consider tax planning, even now over nine months from financial year end. The following items came about from a recent discussion with a client concerned about what the year […] Read More
Dual Cab Utes – the ATO is on the lookout
Dual cab utes have become very popular over recent years – and sales are booming. One reason is that due to the general improvement of dual-cab utes, including the size and comfort of the vehicles, many business owners are purchasing these vehicles for use as a family vehicle to go to the beach, tow caravans […] Read More
Employees – Want some easy money??
One of the frustrations many of our employee clients have is they are sometimes limited in their ability to claim tax deductions to help reduce their taxable income. However, one of the changes made in last years’ Federal Budget is currently flying under the radar due to the focus on many of the other complex […] Read More
May and June is the time for tax planning as 30 June looms down on us. Accountants love 30 June and celebrate like New Years Eve. But the lead up to the end of June is very important for all businesses. Many of our clients have now completed reviews of their figures and have now […] Read More
A few “To Do” actions before 30 June 2017
5 weeks to go! Here are a few helpful tips for businesses and individuals to complete prior to the End of Financial Year (EOFY). For Businesses Update tax planning so you are aware of your tax position – so in turn you can take action to minimise tax if required. See your GTP accountant. Great […] Read More