Blog
How To Minimise Your Business Tax in 2023
Imagine what you could do with tax saved? You could: • Reduce your home loan • Top up your super • Save for a holiday (when we can travel again!) • Deposit for an Investment Property • Pay for your children’s education • Upgrade your Car Here’s a guide to the strategies you can use to minimise your business tax.
How To Reduce Your Personal Tax in 2023
Now's the time to review what strategies you can use to minimise your tax before 30 June 2023. The most important thing to remember is that there is no point in spending money to get a tax deduction unless it’s going to result in something useful for you.
Super Fund Tax Increase on Balances Above $3 Million
The Federal Government has declared its plan to raise the tax rate on super funds for balances over $3 million from 15% to 30%. As the change won’t take effect until July 1, 2025, there is now no need to do anything. Prime Minister Anthony Albanese has confirmed the proposed tax rise, which is scheduled […]
Superannuation vs. Mortgage
Australians with extra cash may be asking how to make the most of it given the rising interest rates and volatile investment results. Should you increase your mortgage payments if you have cash, or would it be better in the long term to increase your superannuation? The answer depends on one’s circumstances. Considerations such as […]
8 Common Retirement Mistakes and How to Avoid Them
For the most part, we all look forward to our retirement because this is a chance to seize additional hobbies, travel, and even engage in charity work or part-time employment. We are retiring with greater savings than earlier generations and have higher expectations for the lifestyle we want to lead because of more than 30 […]
Autumn Update 2023: Financial Planning Newsletter Ed 1
Goodbye Summer. Hello Autumn! We hope you made the most of summer, but now it’s time for whistles and sirens as footy and netball are back. Good luck to your team(s) and your tipping! On a more sombre note, as interest rates made their relentless upwards march over many months, the pressure on millions of […]
Getting Ready for Single Touch Payroll Phase 2 Implementation
Are you ready for STP Phase 2? How do you know if you are using STP Phase 2? Single Touch Payroll Phase 2 streamlines reporting information about your employees to government agencies. Our assistance will give you peace of mind that your payroll software is correctly set up for STP Phase 2.
How The 2022-23 Federal Budget Affects Your Business
Get better understanding about the 2022-23 Federal Budget from our tax experts! Here’s the breakdown of the key elements discussed in the announcement and see what this means for you and your business.
Rental Property Tax Deductions That Landlords Should Not Claim
Experts advised landlords to keep sufficient and correct records of their taxes. Here’s why you should keep sufficient records of your taxes and rental income and be careful not to overstate deductions.
2022 YEAR END TAX TIPS AND REMINDERS
Make sure you keep up to date with everything tax related that affects you. Here's the 2022 End of Financial Year Reminders and Action Items. Some of these will help to minimise your tax. Others will reduce your exposure to an ATO tax audit.
2022 SMSF YEAR END TAX TIPS + REMINDERS
The tax and superannuation laws are always changing, and we are here to help you stay informed. As a Trustee / Director of a Trustee Company for your Self Managed Superannuation Fund (SMSF), you need to be aware of key changes each year and opportunities and risk areas. Some of these reminders will help to […]