Late last year, thousands of taxpayers and their agents were advised by the Australian Taxation Office (ATO) that they had an outstanding historical tax debt. The only problem was, many had no idea that the tax debt existed. The ATO can only release a taxpayer from a tax debt in limited situations (e.g., where payment …
The personal income tax cuts legislated to commence on 1 July 2024 will be realigned and redistributed under a proposal released by the Federal Government. After much speculation, the Government has announced that they will amend the legislated Stage 3 tax cuts scheduled to commence on 1 July 2024. This will mean that more Australian …
As we step into 2024, the landscape of business taxation is evolving rapidly. From technological advancements to shifting global dynamics, business tax accountants are facing a myriad of challenges and opportunities. In this blog post, we’ll delve into the expectations for business tax accountants in 2024 and explore the key trends that are likely to …
In the dynamic landscape of business, navigating financial challenges is a constant reality. For entrepreneurs and business owners, the prospect of bankruptcy is a looming threat that demands proactive measures. One key strategy that can significantly contribute to financial stability is hiring a business accountant. In this blog post, we will delve into the reasons …
The Crucial Role of a Business Accountant in Avoiding Bankruptcy Read More »
Uncertainty has reigned over the last few years, but can we expect more consistency as we head into 2024? We explore some of the key issues and influences. Inflation and labour supply RBA Governor Michelle Bullock stated, “Inflation is past its peak and heading in the right direction, but it is likely to return to …
Don’t want to pay tax on Christmas? Here are our top tips to avoid giving the Australian Tax Office a bonus this festive season. 1. Keep team gifts spontaneous $300 is the minor benefit threshold for FBT so anything at or above this level will mean that your Christmas generosity will result in a gift …
Taxes are an inevitable part of running a business, but they don’t have to be a burden. With proper planning and the guidance of a skilled business accountant, you can significantly reduce your tax liabilities while staying compliant with tax laws. In this blog post, we’ll explore some valuable tips on tax reduction for businesses, …
