by C&N Accountants | Dec 9, 2022 | FBT (Fringe Benefits Tax), Small Business, Tax & Accounting
This article looks at some of the tax effective ways you can spend money at Xmas and claim tax deductions as a business owner. How to reward customers/ clients Should you entertain your client or send them a gift? If you entertain your clients in any way, it’s not tax...
by C&N Accountants | Nov 10, 2022 | ATO, Tax & Accounting, Tax Audit
Australians owe almost $45 billion in unpaid taxes – and the tax office is coming to collect. Collectable debt rose by 69 per cent to $44.8 billion in 2021/22, from $26.5 billion in 2019 before the COVID-19 pandemic hit. Following on from the recent budget, the...
by C&N Accountants | Oct 31, 2022 | ATO, Tax & Accounting, Trusts
The Australian Taxation Office (ATO) is actively targeting trusts and how trusts distribute income to beneficiaries. For those with discretionary trusts it is important to ensure that all trust distribution arrangements are reviewed considering the ATO’s latest...
by C&N Accountants | Oct 6, 2022 | ATO, Cryptocurrency, Tax & Accounting
More than 1 million Australians own cryptocurrency (Crypto), and the Australian Taxation Office has them in its sights and knows about your cryptocurrency assets. 5% of Australian adults own at least one crypto while more than one in 10 Australians under 35 hold...
by C&N Accountants | Jul 14, 2022 | ATO, EOFY, Tax & Accounting, Tax Planning
As we head into the 2022/23 Financial year, staying on top of your taxes and constant changing rules can be time consuming for employees and contractors. In this article, we will cover the following areas you should be aware of when lodging your tax return. Lodge on...
by C&N Accountants | Jul 14, 2022 | ATO, EOFY, Property Investment, Tax & Accounting, Tax Planning
Many Australians invest in property, financial markets and other assets, both in Australia and overseas. Managing the tax on your investments can help you increase your wealth. The ATO’s data matching and information-gathering capabilities are significant and cover...
