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Protect Your Business from Costly Division 7A Mistakes
Are you worried about making a costly mistake with your company finances? You’re not alone. The ATO has noticed a lot of confusion when it comes to Division 7A of the Income Tax Assessment Act 1936. Getting it wrong can lead to unexpected tax bills, audits, and stress...
Protect Your Business from Costly Division 7A Mistakes
Are you worried about making a costly mistake with your company finances? You’re not alone. The ATO has noticed a lot of confusion when it comes to Division 7A of the Income Tax Assessment Act 1936. Getting it wrong can lead to unexpected tax bills, audits, and stress...
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Paying off your HECS debt before indexation. Act before June 1
The looming financial new year heralds an unwelcome extra cost for thousands of people who currently have HECS-HELP debts. This is because every unpaid debt is going to automatically increase when it's indexed on June 1. In previous years, the HECS indexation rate was...
The Budget 2023 – 2024. How This Impacts You
In a response to increasing cost of living pressures, the Labor government’s second budget has put the spotlight on easing the impacts of rising inflation and driving wage growth. It is clear the Government is committed to achieving responsible and targeted relief for...
What is a Family Trust
Setting up a trust is often driven by a new business opportunity, a growing business, or a need to better structure your investments. When set up correctly, there are often clear tax benefits when it comes to operating as a family trust. The importance of the correct...
How to spot tax scams
Tax season can be stressful for many people and this stress can make you more vulnerable to scammers, who strike at the end of the tax year, hoping to gain an advantage at your expense. In the lead up to tax planning season, we look at some of these scams. There are...
How business owners should deal with company funds/money
There are a myriad of ways business owners look for payback from a company they have invested their time and money into from salary and wages, dividends, jobs for underqualified family members to cash advances and personal expenses like school fees and entertainment...
How Does Tax Apply to Electric Cars?
Just in time for the Fringe Benefits Tax (FBT) year that started on 1 April, the Australian Taxation Office (ATO) has released new details on electric vehicles. If your employer provides you with the use of a car that is classified as a zero or low emissions vehicle...
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