Tag: Tax Planning

Attention 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…

With the end of the financial year upon us, it is imperative to take action to maximise tax savings for your self storage business. To help keep more money in your pocket, here are seven essential strategies to consider: 1: Bad Debts Consider writing off outstanding customer accounts that are unlikely to be collected, such…

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…

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.…

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…

In 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…

If you’re a primary producer, tune in to Ewen’s short video on some reminders to help you with your tax planning.

A 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.

With 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…

There 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…

Glenn 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.

In this short video, Ewen explains how businesses can make the most of reducing tax and boosting retirement savings via superannuation.