Taxation
Moonee Valley News | Keilor Road
Moonee Valley Update | Keilor Road Accountant Region Articles The first of our website articles on news from around six of the councils where the majority our clients live or have their businesses. Our first post is close to home as we see it every day. When we travel to work, or look out the…
Read MoreHow to help your child with their first tax return
First tax return for your children Have you got taxation block? Especially when this is one of your children’s first tax return. Tax time and as parents we’ve done our ATO taxation return for years and no longer need to think about what is required of us. Tax returns for us has become automatic. Are…
Read MoreBuyer Beware!
Tax payers selling properties valued at $2 million and above must obtain from the ATO a ‘Clearance Certificate’. The new withholding tax rule was introduced from 1st July 2016 and has been designed with foreign investors in mind who purchase properties from Australian residents. The certificate is there to ensure Capital Gains tax obligations are…
Read MoreRental Property Tax Deductions
Rental Property Tax Deductions Rental property expenses are any expense related to income earned from the property, these will be assessed by the ATO for rental property tax deductions. As a guide, we’ve compiled a list of general expenses that may be eligible to be included in your tax return. Rental Property Tax…
Read MoreHow To Prepare For A Comfortable Retirement
Have you planned for succession and/or retirement? For many individuals and business owners, the idea of retiring seems too far way to be deemed important. It’s something that can be dealt with later. If not, then the proceeds of the business should see them through. The reality is that life is ever changing and an…
Read MoreEnd Of Year Tax Planning 2016
Tax planning for 2016. It is always best to start your tax planning at the beginning of each financial year. Finding deductions and limiting income is a minor part of tax planning. We encourage you to consider strategies that will set you up for long term tax advantages with the bonus of Asset protection. The…
Read MoreFringe Benefits Tax and Employment
Employees and Fringe Benefits Tax Small business owners should consider carefully fringe benefits tax and casual employees. Rostering on casual labour is a fantastic way to ensure full staff coverage for important events or busy times. Each year the holiday period for businesses is a busy time, one where extra staff is crucial. Employing…
Read MoreHow To Prepare For Your Tax Return In 2017
Will you be ready at tax time? Prepare for your income tax return! Over 12 million Australians lodge tax returns each year. According to the Australian taxation office (ATO), on average, over 350,000 people per year are contacted to correct errors. These errors range anywhere from exclusion of secondary job income to bank interest received.…
Read More8 Reasons For An ATO Tax Audit
Recently the Australian Taxation Office (ATO) has recorded an all-time high for tax audits with the main focus being businesses turning over $1-$3 million dollars. Their ability to cross reference tax information declared against Workcover, Centrelink, Department of Transport, superannuation funds, banks and other financial institutions has increased in leaps and bounds. Tax Audit |…
Read MoreHow To Comply With Tax Laws Whilst Living And Working Overseas
Who is an Australian resident for tax purposes? Are You Living and Working Abroad? Every year thousands of people travel abroad for either an adventure filled working holiday or for the chance to further their careers, however questions around Australian tax laws and what applies to people are often unknown. Australian resident for tax purposes?…
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