Blog tagged as Tax Returns

Every deduction you're entitled to but never claim is effectively money handed over voluntarily — and a compliance-only relationship processes what you hand over, without necessarily going looking for what you didn't think to mention.

A bargain lodgment fee usually means nobody looked beyond what you handed over — no deduction review, no structuring check, no planning — and the tax overpaid from that silence often dwarfs the fee saved.

Same revenue doesn't mean same financial health — payment terms, margin, debt load, and working capital tied up in stock or receivables can produce completely different real-world outcomes behind an identical top-line number.

The Federal Budget introduced both loss carry back arrangements for Aussie businesses and the permanent extension of the instant asset write-off. What does this mean for your business?

The ATO is cracking down on compliance. Here are five ways your small business can remain compliant and stay in the ATO’s good books.

While the standard financial year ends in June, the Fringe Benefits Tax (FBT) year actually ends on 31 March.

The ATO is providing additional support for new small businesses to ensure they understand and comply with their tax, superannuation and registry obligations

These five simple tax tips help small business owners stay organised, avoid surprises at tax time, and make smarter financial decisions.

The ATO’s updated Tax Time toolkit is your 101 guide to business taxes. We’ve summarised the key resources you can find in this toolkit, with links to the ATO site.

Working for yourself or running your own business? Setup robust systems for expenses & tax requirements so you can focus on your important tasks. We can help take the headaches out of your business accounting.

Rental property information is being collected by the ATO in an effort to track down unreported income in tax returns. Ensure your items are fully substantiated.

The newly re-elected Albanese Labor Government aims to simplify claiming work-related tax deductions and provide cost-of-living relief by introducing a $1,000 instant tax deduction from 2026-27 income year.

The ATO will have additional time to notify a taxpayer if it intends to retain a business activity statement refund for further investigation.

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.

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.

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.

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.

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.

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.

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.