Tax

How Melbourne Accountants Drive Prosperity for Primary Producers

Accountant, Financial Planning / By
Primary Procedures

In the heart of Melbourne, a city bustling with innovation and entrepreneurial spirit, lies a vital component of Australia’s economic backbone: primary producers. These individuals or businesses play a crucial role in supplying food, materials, and resources to both local and global markets. However, navigating the financial landscape can be challenging for primary producers, given …

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Getting back what you put in:Loans to get a business started

Accountant, Business Tax, Newsletter, Small Business Accountant / By
business loans

It’s not uncommon for business owners to pour their money into a business to get it up and running and to sustain it until it can survive on its own. A recent case highlights the dangers of taking money out of a company without carefully considering the tax implications. A case before the Administrate Appeals …

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How to take advantage of the 1 July Super Cap Increase

Accountant, Business Tax, Newsletter, tax / By
Super Cap Increase

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 Fringe Benefit Tax traps

Accountant, tax / By
Fringe Benefit Tax

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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Maximizing Car Expenses to Save: Expert Tips from Business Accountants

Accountant, Small Business Accountant / By
Business Accountants Melbourne

Are you a business owner in Melbourne looking to reduce your tax liabilities and maximize savings? One often overlooked area for potential savings is car expenses. By effectively managing and maximizing car expenses, you can not only improve your business’s financial health but also stay compliant with Australian tax regulations. In this blog, we’ll explore …

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