Category: Taxation
- Important Tax Tips for Primary Producers Post Instant Asset Write-OffAttention primary producers! With the instant asset write-off now finished, managing your equipment trades and avoiding unexpected tax bills is crucial. As livestock prices fluctuate and climatic conditions impact your farm, here are some tips to minimise your tax: Water Conveyancing/Conservation:Expenses for pumps, piping, and irrigation are fully deductible. Fencing:Internal and external fencing qualifies for…
- Sharpen Your Numbers – FAQ: Why do the ATO want multiple payments for BAS, tax, PAYG; why can’t I just pay one payment?Our latest frequently asked question is from Gavin: “Why does the ATO want multiple payments for BAS, tax, and PAYG? Why can’t I just make one payment?” In this video, Glenn shares why the ATO requires multiple payments for BAS, tax, and PAYG instalments. From withholding employee wages to GST and income tax, each payment…
- Sharpen Your Numbers – FAQ: Can I or should I, put money into my superannuation and claim a tax deduction?Sarah asks about claiming a tax deduction for contributing to her superannuation fund. In our latest FAQ video, Glenn explains the options: salary sacrificing, where the employer contributes pre-tax dollars, or making deductible contributions from after-tax salary. Both offer tax benefits, with differences in timing. Seek advice tailored to your situation for the best approach.…
- Sharpen Your Numbers – FAQ: How will the Stage 3 tax cuts it impact me?James from Ballarat asks about stage three tax cuts. He earns around $90,000 annually and wants to know how it will affect him. In response, we explain that under the proposed Labor changes, he’ll initially be about $800 better off. However, as his income grows over time, surpassing $120,000, he’ll start paying a higher tax…
- Stage 3 Tax Cuts + Bracket CreepIn recent news, there’s been significant discussion surrounding the stage three tax cuts, particularly with the Labor government’s decision to modify them. Originally intended to address bracket creep for individuals earning up to $200,000, these tax cuts were agreed upon by both sides. However, the proposed adjustments by the Labor government aim to allocate these…
- Farming updateIf you’re a primary producer, tune in to Ewen’s short video on some reminders to help you with your tax planning.
- Tax planningA reminder to you to get started with your tax planning sooner rather than later. Contact us to discuss how we can help you create the best strategy for your business.
- Why Should I Work With a Tax Accountant Near MeWith the advent of the internet and cloud-based solutions, many in the financial services and accounting industries suggest that the distance between them and the client is irrelevant. While this is true to some degree, you may ask yourself, what are the benefits of working with a tax accountant near me? Benefits of Working With…
- How To Minimise Tax When Selling a BusinessThere will always be tax payable when selling a business. But there are legal ways to minimise or defer the taxes from the sale. The best way to achieve the best financial outcome from the sale of a business is to speak with your tax professional as early as possible in the process. Read on…
- EOFY PlanningGlenn explains what you need to do to ensure you get the most out of your tax deductions as we quickly head to the end of the financial year.
- Opportunities Paying SuperIn this short video, Ewen explains how businesses can make the most of reducing tax and boosting retirement savings via superannuation.
- Selling Business as a Going ConcernIf you’re considering selling your business make sure you have the right advice to ensure get the tax outcomes right.
