Archive for category: Tax
News
Fuel tax credit changes
The Government temporarily halved the excise and excise equivalent customs duty rates for petrol, diesel and all other petroleum-based products (except aviation fuels) for 6 months from 30 March 2022 until 28 September 2022.
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Essential Record-Keeping At Year-End For Your Business
It may seem like the importance of record-keeping is overly stressed by us, but it’s a critical part of the wrap-up of the year-end.
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The In’s and Out’s of PAYG
We have many clients asking us, what is PAYG, why do I need to pay the ATO upfront and how does it affect a business? There’s no need to struggle to understand this system anymore, let’s break it down!
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What’s changing on 1 July 2022?
A series of reforms and changes will commence on 1 July 2022. In this article we look at what’s coming up for businesses and individuals.
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The 120% deduction for skills training and technology costs
It’s a great headline isn’t it? Spend $100 and get a $120 tax deduction. Days after the Federal Budget announcement that businesses will be able to claim a 120% deduction for expenditure on training and technology costs, we started receiving marketing emails encouraging us to spend now to access the deduction.
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Why Is End Of Year Planning So Important?
Business planning is a key element to success. Businesses with a formal business plan perform far better than those that don’t, and with good reason. If you know where you want to get to, there is far more chance of getting there with a plan.
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2022 End Of Financial Year Checklist
Maximise your tax deductions for the 2021-22 financial year by conducting a thorough review of your records. But to do that, you need to know where to start. Here are some of our top tips for businesses and individuals when it comes to year-end tax planning.
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Last Chance To Apply As COVID-19 Tax Deduction Deadlines Approach
Tax deductions introduced by the Australian Taxation Office to lessen the impact of COVID-19 are approaching the end of their eligible timeframe. To ensure that you or your business do not miss out, here are some of the deductions you could claim at the end of this financial year (if eligible).
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