Tax Returns

Blog tagged as Tax Returns

Government superannuation contributions to be added to paid parental leave   

In an initiative to promote women’s economic equality, the Labor government has announced plans to pay superannuation on paid parental leave (PPL) for government-funded payments from 1 July 2025.

RBizz Team

06/04/2024 03:09 PM - Comment(s)

Your guide to claiming working from home expenses for 2023–24 income year

Tax time 2024 is fast approaching and with many individuals still working from home partially or completely, this quick guide can assist you with completing the calculations for claiming the deduction.

RBizz Team

28/03/2024 02:52 PM - Comment(s)

FBT record-keeping simplification - determinations finalised

As per amended legislation, from 1 April 2024, the Commissioner will allow utilising adequate alternative records holding all the prescribed information, instead of statutory evidentiary documents for FBT record keeping purposes.

RBizz Team

24/03/2024 05:51 PM - Comment(s)

Changes to personal tax rates announced by the federal government

The Labor Government has announced changes to personal tax rates that will provide a tax cut for every Australian taxpayer commencing from 1 July 2024.

RBizz Team

30/01/2024 12:17 PM - Comment(s)

Tax deductions to be denied for interest charged by the ATO

The Federal Government announced in the 2023–24 Mid-Year Economic and Fiscal Outlook (MYEFO) that amendments will be introduced to deny deductions for ATO interest charges, incurred on or after 1 July 2025.

RBizz Team

23/01/2024 03:15 PM - Comment(s)

R&D tax incentive claims — ATO flags questionable arrangements

The ATO has released 2 taxpayer alerts flagging incorrect R&D tax offset claims where expenditure is incurred by associated entities or activities are conducted overseas for foreign related entities.

RBizz Team

15/01/2024 09:33 PM - Comment(s)

ATO guidance on employee vs contractor debate updated

Updated ATO guidance means you need to understand whether your contract for services are to an employee or an independent contractor. Getting it right can save you significant hassles and penalties.

RBizz Team

05/01/2024 01:47 PM - Comment(s)

Indentify the relevant depreciating asset - ATO's guidance on composite items

The ATO released draft TR 2023/D2 which provides guidance on whether an asset that is made up of a number of parts or components (composite item) is itself a depreciating asset, or whether one or more of its components are separate depreciating assets.

RBizz Team

16/11/2023 04:05 PM - Comment(s)

The ATO agent nomination process

Wondering about the ATO agent nomination process? If you are an existing client, you may not need to do anything. If you are a new client we'll send you information about the steps required to link to us.

RBizz Team

30/10/2023 04:15 PM - Comment(s)

Outstanding tax debts? ATO warns about disclosure to CRAs

The ATO is warning businesses to engage with their tax and super obligations to avoid having their debts disclosed to credit reporting agencies (CRAs).

RBizz Team

18/10/2023 03:26 PM - Comment(s)

ATO finalises guidance on the deductibility of costs relating to holding vacant land

The ATO has finalised the taxation ruling TR 2023/3, which provides guidance on the deductibility of expenses associated with holding vacant land.

RBizz Team

29/09/2023 03:36 PM - Comment(s)

Small Business Instant Asset Write-Off This Financial Year

Are you looking to purchase assets for your business? Eligible businesses can spend up to $20k per asset and immediately claim the tax deduction and GST. Talk to us about the best strategy for purchasing business assets.

RBizz Team

30/08/2023 01:37 PM - Comment(s)

Principal purpose of a commercial vehicle to determine application of Luxury car tax

The ATO has finalised the luxury car tax (LCT) determination LCTD 2023/1 which provides guidance on determining the principal purpose of a commercial vehicle for LCT purposes.

RBizz Team

14/08/2023 02:00 PM - Comment(s)

Claiming your bonus deduction for technology investment in the 2022–23 tax return

The small business technology investment boost wrapped up on 30 June 2023. For your 2022–23 tax return, we will be working with you to ensure you get the full bonus deduction that you are entitled to. Work through your next steps here.

RBizz Team

18/07/2023 02:13 PM - Comment(s)

Top 10 Tax Saving Tips for Salaried Aussies

Maximize your tax refund! Get the top 10 tax saving tips for salaried Australians. Learn how to implement effective strategies & take advantage of deductions & credits!

RBizz Team

03/07/2023 01:53 PM - Comment(s)

Navigating the Tax Maze: Compliance Challenges for Australian Medical Practices

Australian medical practices face tax compliance risks including misclassifying employees, incorrectly reporting fringe benefits, income tax complexities, GST liabilities, and inadequate superannuation contributions. The ATO Professional Firms Guidelines govern professional profit distribution.

RBizz Team

23/06/2023 05:34 PM - Comment(s)

Fringe Benefits Tax and Business

Do you offer your employees benefits in addition to salary and wages? If so, you may need to report FBT. Fringe benefits can help employees reduce their taxable income but you need to take care of the admin. Get in contact to learn more.

RBizz Team

20/06/2023 05:06 PM - Comment(s)

Avoiding Compliance Issues with the ATO: Common Mistakes for Doctors Running Businesses through Companies or Trusts

Discover common compliance issues faced by doctors running businesses through companies or trusts and learn how to avoid them. Stay compliant with the ATO to ensure smooth operations and financial success.

RBizz Team

20/06/2023 03:38 PM - Comment(s)

Upcoming changes to NALI provisions

Recent updates have been announced to the non-arm's length income (NALI) provisions applying to SMSFs.

RBizz Team

12/06/2023 04:31 PM - Comment(s)

Which business expenses can you claim against tax?

Want to cut your business costs? We’ve highlighted the business expenses that can (and cannot) be claimed against your ATO tax bill.

RBizz Team

08/06/2023 04:23 PM - Comment(s)

Chartered Accountants Australia and New Zealand

American Institute of Certified Public Accountants CPAs.

Institute of Chartered Accountants of India.

Australian Securities and Investments Commission.

Partner with

MYOB essential cloud accounting software.

QuickBooks ProAdvisor Certificate. — QB ProAdvisor

What do our happy customers say about us?

Success Stories

I experienced a sea change in the approach and results of RBizz Solutions when we moved from previous accountant. We have outsourced all accounting functions of our medical practice to RBizz Solutions who manage them very efficiently. I found them approachable, experienced, professional and above all supportive. Their industry knowledge is commendable. In many instances I observed their practices technically advance and systems driven. I highly recommend them to other medical practices and doctors.

RBizz Solutions handled restructuring of our medical practice business very innovatively, efficiently and accurately. They professionally planned and executed all accounting and compliance processes. I found them responsive, proactive and caring. Their systems are advanced, established and efficient in producing meaningful reports. They highlight current and possible challenges in regular discussions and advise in an easy to understand manner. I am confident tin recommending their business accounting serviced to other businesses.

The approach of RBizz Solutions towards understanding the needs of clients and offering solutions which are fresh, practical and long-lasting is really commendable. I experienced them going all the way to find solutions which are not common. I availed their taxation services for our professional services business and myself. I definitely recommend them to all business and non-business clients.

For small businesses like us, RBizz Solutions have all the right knowledge, experience and tools for a very timely and authentic support. We have found them very friendly and approachable all the time. They take extra care in giving their best advice. The best part is, they keep client's benefit and satisfaction at the top. We highly recommend their services to other businesses.

We availed CFO Services of RBizz Solutions for our young pharmaceuticals business in setting-up financial management processes, reports and decision-making tools. I am impressed with their experience in easing the administrative, governance and compliance challenges start-ups generally face. They have very organized approach to their work. I sincerely appreciate and recommend their services.

In setting-up new company and designing a business structure appropriate to my industry, I took help of RBizz Solutions. Their knowledge and experience on start-ups is deep and futuristic. They advised me on certain aspects which a business must be clear for its long-term stability and growth. With great confidence in their services I will recommend them to new and established businesses.

Rbizz solutions assisted us in organizing our operations by setting-up new processes. With new processes all the instances of administrative lapses have been arrested. In short period of time the efficiency of our business processes has increased tremendously and it has also helped in preparing the performance reports in no time. We would recommend their services to other businesses who are looking for assistance in establishing seamless operations.

RBizz Solutions helped me in designing and setting-up billing, collection, accounting and reporting processes for my business in IT services. Their approach is very innovative. They focus on simple but advance solutions. Their knowledge of integration of systems is impressive. I am significantly saving my time and energy and being able to focus more on my core business. I am happy to recommend their services to any small business owner.