tax Archives - Melbourne Accountant

How a Tax Accountant in Melbourne Can Help Financial Year

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Navigating the complexities of taxation can be a daunting task for individuals and businesses alike. With ever-changing tax laws and regulations, staying compliant while maximizing your financial benefits requires expert guidance. This is where a tax accountant in Melbourne becomes invaluable. Let’s explore how a tax accountant can help you throughout the financial year. 1. …

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How to Master your Finance through Tax Accountant in Melbourne

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Welcome to our blog dedicated to helping you master your finances with the assistance of a skilled tax accountant in Melbourne. In today’s fast-paced world, managing your finances effectively is essential for achieving your financial goals and securing your future. Whether you’re a business owner, a freelancer, or an individual taxpayer, understanding the nuances of …

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Tips for Choosing the Right Tax Accountant for Your SME

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Small and Medium Enterprises (SMEs) form the backbone of Melbourne’s bustling economy, driving innovation, creating jobs, and contributing to local communities. However, managing the financial aspects of an SME, especially taxation, can be a daunting task without the right expertise. In this blog post, we’ll delve into the importance of partnering with a specialized tax …

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Maximizing Your Accounting Game Plan for Sports Industries

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In the fast-paced and competitive world of sports, success isn’t just about what happens on the field or court; it’s also about what happens behind the scenes. One of the critical players in this behind-the-scenes action is the accounting team. Their strategic insights and financial expertise are instrumental in driving the success of sports organizations. …

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How to take advantage of the 1 July Super Cap Increase

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From 1 July 2024, the amount you can contribute to super will increase. We show you how to take advantage of the change. The amount you can contribute to superannuation will increase on 1 July 2024 from $27,500 to $30,000 for concessional super contributions and from $110,000 to $120,000 for non-concessional contributions. The contribution caps …

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The ATO Debt Dilemma

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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 …

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The Fringe Benefit Tax traps

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The Fringe Benefits Tax year (FBT) ends on 31 March. We explore the problem areas likely to attract the ATO’s attention. Electric vehicles causing sparks In late 2022, the Government introduced a concession that enables employers to provide some electric vehicles to employees without incurring the 47% fringe benefits tax (FBT) on private use. …

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The Redesigned Stage 3 Personal Income Tax Cuts

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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 …

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Business Tax Accountants ‘Roadmap for 2024’

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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 …

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