Tax
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.
... read moreLast 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).
... read moreAre your donation claims tax-deductible?
The ATO have advised to check your paperwork before claiming deductible contributions.
... read moreTemporary Full Expensing | Small Business Asset Write-Offs
Let’s talk about Temporary Full Expensing (TFE). What is TFE? What assets can I write-off? What date do you need to apply by? Pat answers all of these questions in this informative short video.
... read moreImmediate Deductions Extended
Legislation passed by Parliament last month extends the Temporary Full Expensing rules to cover assets that are first used or installed ready for use by 30 June 2023.
... read moreWhat is a Director Identification Number? | Why do I Need a DIN?
Pat Mannix talks about Director Identification Numbers (DIN). What is a DIN? Why do the directors of Australian companies need one? What date do you need to apply by? Pat answers all of these questions in this informative short video.
... read moreKids Over 18 in a Family Trust | Distributions
Pat Mannix talks about the distribution and tax changes that occur within a Family Trust once a child is over 18 years old. Check out this informative short video.
... read moreThe ATO’s Attack on Trusts and Trust Distributions
Late last month, the Australian Taxation Office (ATO) released a package of new guidance material that directly targets how trusts distribute income. Many family groups will pay higher taxes (now and potentially retrospectively) as a result of the ATO’s more aggressive approach.
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