tax

The problem when the evidence doesn’t match what the taxpayer tells the ATO

A recent case before the Administrative Appeals Tribunal (AAT) highlights the importance of ensuring that the evidence supports the tax position you are taking. The case involves heritage farmland originally purchased for $1.6m that sold 7 years later for $4.25m and the GST debt that the ATO is now pursuing on the sale. In 2013, …

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Business Tax Accountants ‘Roadmap for 2024’

roadmap

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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A Guide to a Successful Financial Audit for Personal Taxpayers

personal tax payers

Navigating the intricate world of personal finance can be daunting, especially when tax season comes around. Whether you’re a seasoned taxpayer or a newcomer, ensuring a successful financial audit is crucial for peace of mind and financial well-being. In this comprehensive guide, we will draw upon the expertise of Melbourne business accountants to provide you …

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What You Can and Cannot Claim as Tax Deductions in Car Expenses

tax deductions

As a business owner, one of the many financial responsibilities you have is managing your tax expenses efficiently. Maximizing your tax deductions can significantly impact your bottom line, and one area where you may be eligible for deductions is car expenses. However, it’s crucial to understand what you can and cannot claim to avoid potential …

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