• tax relief
    Tax-Free Treatment of COVID-19 Grants to be Extended
    Treasury Laws Amendment (COVID-19 Economic Response) Bill 2021 has now been introduced into Parliament, extending the application of the non-assessable non-exempt income status to eligible business support grants received in the 2021–22 financial year. The new bill builds on legislation passed late last year which limits the tax concession to grants […]
  • Australian Tax Office
    ATO Extends Division 7A COVID-19 Relief
    On Monday, the ATO confirmed it would offer an extension of the repayment period for those who are unable to make their minimum yearly repayments (MYRs) by the end of the lender’s 2020–21 income year due to the ongoing effects of COVID-19 under section 109RD. A similar extension was provided […]
  • insurance policy
    Am I Taxed on An Insurance Payout?
    Australia has had its fair share of disasters over the last few years – drought, bushfires and floods – that have ramped up the volume of insurance claims. Most people would assume that if and when they need to claim on their insurance, the insurance payout covers the damage and […]
  • changes-ahead
    What Changes on 1 July 2021?
    Super guarantee rate increase to 10% On 1 July 2021, the Superannuation Guarantee (SG) rate will rise from 9.5% to 10% – the first rise since 2014. It will then steadily increase each year until it reaches 12% on 1 July 2025. The 0.5% increase does not mean that everyone […]
  • Superannuation
    Super Guarantee Rate Rising 1 July
    On 1 July 2021, the super guarantee rate will rise from 9.5% to 10%. If you have employees, you will need to ensure your payroll and accounting systems are updated to incorporate the increase to the super rate. If you need help to work out how much super you need to […]
  • skilled migration
    Is It Time for Australia to Rethink Skilled Migration?
    Source: NestEgg When borders reopen, Australia has a chance to reshape its migrant policy, with an opportunity to target younger, more skilled workers, a think tank has revealed. Australia is not attracting the right migrants, instead it should focus on simplifying the process, taking in younger skilled workers, and paying them […]
22 January 2019

Tax Tips for Newlyweds

The tax implications of marriage probably aren’t the first thing on your minds as newlyweds. Don’t fret, like you, many have not given given any thought to the potentially important tax consequences of their new married status. If you are tying the knot anytime soon, check out these tax tips […]
2 May 2017

Top 5 Overlooked Tax Deductions

With the end of the financial year fast approaching, it’s a good time to discuss tax deductions – especially those deductions often missed by taxpayers like you. We have compiled the commonly forgotten tax deductions. Take a look below – do any of these deductions apply to you? Are you […]
21 April 2016

Tax Minimisation for Melbourne Taxpayers

Taxpayers are encouraged to try tax planning to make sure they pay the least amount required. This is a good opportunity to get the most out of your earnings or profits without escaping from your responsibility to the government. If it’s your first time to do tax planning or you […]
16 March 2015

Top Tax Deductions For Tradespeople

  Being in the trades and building industry, you need a Melbourne Melbourne accountant who understands your business and the intricacies. Here at Melbourne Accountant, we appreciate the unique nature of the trades including the importance of cash flow, quoting, job costing, scheduling, progress payments, retention and variations. This is […]
20 February 2015

Tax Loopholes To Explore With Your Melbourne Accountant

Should businesses shoulder a fair share of taxes compared with hard-working Australian people? We might see this question discussed more in coming years. Using an international shell-game to move earnings away from the tax man, corporations legally avoid taxes in countries like Australia, even though they earn billions here. Similar […]
17 December 2014

Tax Tips For 2015

As a self-employer or founder of a small business, it can be difficult to navigate the waters of the ATO annual exam (i.e. taxes), especially without the expertise of a Melbourne accountant. Though you can and should utilize the services of tax professionals, Melbourne accountants and bookkeepers and even software, […]
28 October 2013

Understanding the Importance of Tax Planning

One of the main functions of a Melbourne accountant aside from providing assistance in tax compliance is tax planning. Taxes, as we all know are a fact of life and whether we like it or not, if affect important aspects of our business and personal lives. In fact, one might […]
23 October 2013

Small Business Tax Saving Tips

Year end is just around the corner and it’s the time of the year again when private individuals and business owners need to compute their tax due with the assistance of a Melbourne accountant. As you may have already know, the services of a Melbourne accountant is not only limited […]
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