Tax Planning

Get ready for a brutal Federal Budget and ATO Trust S100A initial guidance

The Australian Taxation Office will release a preliminary guidance on Section 100A in the next two weeks. The upcoming 2022 October Federal Budget will be a tightening one and it could be very brutal! Contact us today to help you prepare for ATO Trust S100A.

ATO Announces Four Areas of Focus for Taxation This Year

The Australian Taxation Office has uncovered four key areas to focus on as businesses prepare for their tax this year. Being aware that many Aussies are engaging with cryptocurrencies or digital assets, the tax office said that crypto investors will be one of their priorities at tax time.

The Winners and Losers in the 2022 Victorian Budget

Emergency services is the major focus in the 2022-23 election-year Victorian budget. Contact us today at Success Accounting Group to help you navigating the implications and opportunities of this Budget for you and your business. Book in your Tax Planning now with less than 50 days left before the EOFY.

Superannuation Death Benefits – Who Gets Your Super?

Who decides what happens to your superannuation savings when you die? You might believe that you do, however that isn't generally the situation. A definitive choice might be made by somebody you don't know - the legal administrator or trustee of your superannuation fund. Here’s what you need to know in making a valid binding death benefit nomination.

2022 Federal Budget – What It Means for You

Information: What the 2022 Federal Budget Means for You With a Federal Election due in the next 8 weeks, the Morrison Government has just made its bid for re-election with the following headline announcements in its Federal Budget released on Tuesday 29 March 2022: Petrol tax slashed by 22 cents per litre for 6 months […]

Lodging an FBT Return

Fringe Benefit Tax (FBT) captures benefits enjoyed by employees but it is the employer that is levied in the end. Unless the agreement with the employer allows payable FBT to be recouped from the employee, the employer can’t be reimbursed. Why then would any employer want to lodge an FBT return if there […]

YEAR END TAX TIPS + REMINDERS SMEs

Important: End of Financial Year Actions for You This has probably been the most difficult year ever for business owners due to the impact of COVID-19. And this makes Tax Planning for 2020 and key actions before 30 June more important this year than for any previous year. As a business owner, there are many […]

What Are The Top 3 Mistakes NOT To Do When Lodging Your Tax Returns?

It is time to claim your tax returns back! Although the lodging process seems quite straightforward and familiar, there are still the top 3 huge common mistakes that taxpayers need to know to do it right. Missing out on the expenses that you are entitled to claim as long as they incurred for […]

ATO’s ‘shortcut method’ for employees working from home due to COVID-19

With the ongoing lockdowns put in place due to COVID-19, working from home has become a commonplace. Tax returns this year is therefore anticipated to be a little different than we are accustomed to. Employees affected by the lockdowns can access ATO’s temporary ‘shortcut method’ for claiming expenses until September 30, 2020. With […]